Interesting Chart Patterns To Monitor In Coming Days...

[gelfont1]

Steady what do you mean when you say you shorted DIA becuase it hit your " Daily Projected Sell"

Today I shorted ITT & DIA just to name 2, ITT on a daily and weekly looks to have completed wave 4 up and the DIA hit my daily projection "SELL" If your using AGET you can see the set up's clearly.

[Steady]

Shorts

I am using AGET real time, so the set ups are clear.

[brbiz]

Yes

Yes

[alexc]

Yes, please continue to post.

[MR]

San Francisco-based Genentech (DNA) is in the news today. While there is no clearly identified new trade opportunity right now, this stock has been added to my watch list. Below is attached a current DNA daily chart. It is labeled a major Wave 3 in progress. Monitor variable time frames for a pullback and a possible Type 1 Buy setup. A second option is to go to a 1 minute to 10 minute time frame and try to buy into today's momentum somehow if a very aggressive trader, but manage your position very aggressively as it could turn on you quickly.

[MR]

Monitor FORD today on time frames less than 30 minutes. See if you can identify a 'day-trade' Type 1 Buy setup during today's day session.

[MR]

GME is clearly in a Wave 3. It is too risky to buy today, but monitor it for an internal Wave 4 pullback and some sort of a Type 1 Buy setup. The Wave 3 is not over.

[MR]

DY looked like it turned out to be a nice Type 1 Sell setup. While it may be too late to ride the daily, monitor short variable data time frames for a day trade rally which could lead to a little Type 1 Sell again.

[MR]

POL daily had an XTL sell going on. If you looked at a shorter time frame you will have most probably be able to identify some sort of a Wave 4 where you may have been able to sell it short at yesterday's high, with a very close stop above that high. (would only have been a very aggressive trade). Odds are good the current low is not in yet. (as of 10am this morning.) Anticipate the red XTL to continue for time being because it appears the Wave 3 labeled is not yet complete. It may be shooting for the $6 previous low??

[MR]

ENG daily is an example where I like the Type 1 Buy breakout pattern so much I will ignore the low PTI. Yes it is highly risky, but as long as it stays above 2.50 to 2.25 I might be ok???? Odds are 50-50, not great.

[MR]

Monitor TIVO today on variable time frames below 90 minutes or shorter. It may very well setup a day trade Type 1 Buy opportunity for those very aggressive traders out there.

[MR]

HIGHLY aggressive Type 2 Buy setup for the most ambitious risk takers out there... look at LTON for a breakout. You're on your own on this one though. It is attractive for today for a professional who knows what he is doing.

[MR]

My friend in Australia is not going to like this one, but if you are a professional, a real risk-taker willing to take the most aggressive trades out there... look at URGI. You're on your own on this one... but I do find the Wave 4 channels attractive... a pretty pattern IF the 4.86 low can hold now?????

[Steady]

WAVE 4

C Citi Group is a short on a daily chart wave 4 is complete looking for 1-2 dollars on the down side...

AS always please set a stop that suits your trading style,

[MR]

Re: WAVE 4

Steady, You short daily Wave 4's?

Originally posted by Steady
C Citi Group is a short on a daily chart wave 4 is complete looking for 1-2 dollars on the down side...

AS always please set a stop that suits your trading style,