Monday, November 25, 2013

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RLD - long trade
Most what I like is daily consolidation after gap up and daily 10sma support what could bring RLD higher. We can see 60 min consolidation what is also daily triangle. I won’t look for new monthly trend up, but I will look for technical bounce from support.
Trading plan:
Entry:  $9.03
Stop:     $8.70
Target area:  $10-11-open
Type:  swing trade

BLK - long trade
I like 60 min breakup possibility and if that will work and if could stay above 60 min 200sma then daily triangle breakup could work. We can also see that on the weekly chart. For weekly chart I will like more that 10sma is closer but we can always watch only book examples. I will sue 50% rise and for sure I won’t take any trade during first 5 min.
Trading plan:
Entry:  $304.10
Stop:     $301.50
Target area:  $310-open
Type:  swing trade

The India funds, PIN, IFN, INDL, INP, EPI, INDY, are all setting up INVERSE HEAD AND SHOULDERS PATTERNS, as are RIO, VEGI, BBRC, and not shown, BHP.

Choose your poison.

Just a personal observation, but if the big gap up in the futures over Iran being given the go ahead for nuclear bombs continues into the open, it, COULD, be a SELL THE WORLD set up in the morning, much like the Osama gap up was sold, and ended up being the high for a while.

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