Monday, November 18, 2013


The inspirational story of the Harmonica Man. 


TRADE IDEA FOR MONDAY, NOVEMBER 18, 2013

Sign Up for Ivica's Free Trial and Trading Signals 


MCHP - long trade
First what I saw was weekly continuation pattern and after that I saw nice daily consolidation. We can see that MCHP trying to bounce from daily 10sma support area and that is what I’m looking for. On the 60 min chart we can see that consolidation is tighter and tighter and that give us opportunity for smaller stop amount and possible better reward. On the other side if won’t work, then stop amount is not bigger. First resistance after previous high is $45 area and that will be for me 1st target area.
Trading plan:
Entry:  $43.65
Exit:     $43.40
Target area:  $45 area
Type:  swing trade


0 Comments:

blogger templates | Make Money Online