I'll be posting the charts of most of the short trade ideas posted on Tuesday, many of which are still offering objective entries or add-ons. As such, the email notifications on some of those updates will be suppressed in order to reduce inbox clutter. A notification will be sent out later today listing all of the trade ideas that were updated. MU offers an objective short at the top of this bearish rising wedge pattern for aggressive traders and/or on a breakdown below the pattern for more conventional traders.
I'm balancing working through some of the programming issues on the site today with trying to post some of the short-side trade ideas that look to be currently offering an objective entry or add-on. In fact, I have an unusually large amount of very attractive short candidates on my watch-list and with today's large gap having been faded as expected, the bearish scenario is alive and well. As I'm trying to juggle my own trading with the programming issues and posting actionable trade ideas, I'll just share some of the more attractive looking short trades at this time. These are all [...]
MU will trigger a short entry on a break below the orange uptrend line. T1 is the current preferred target. Targets are listed on the daily chart although the exact target levels & stops will be listed soon. Daily & weekly charts. To those signed up for email notifications: This will be the first of several new trade ideas, long & short, to be posted today. Email notifications will be suppress for many of those posts in order to reduce clutter to your inbox. Therefore, you may want to manually check the site throughout the day if you are interesting [...]
In looking over the exisiting trade ideas today, I am removing both MU from the long setups category. MU was added as a long setup on Jan 8th at 7.13 as it had just broken out above a nice downtrend line. I didn't add MU as an active trade since for reasons stated in that previous post but added the setup nonetheless for anyone interested in the pattern. MU will now be removed from the Long Setups category since the stock already gained 9.4% since that post and hit the first target on Thursday, thereby no longer offering an objective entry [...]
Even though many of the semiconductor setups that I will be posting today have already broken out of their bullish patterns, I believe there is a good likelihood that they will pull back to within the pattens (failed breakouts) or at least backtest before moving much higher. On this MU daily chart, the stock has clearly broken above both the downtrend line as well as the horizontal resistance line. However, ideally you want to see the volume on a long-side breakout at or above 150% of the average volume, which was not the case with MU or most of the recent [...]