Thursday, January 02, 2014

TRADE IDEA FOR THURSDAY OR FRIDAY, JANUARY 2, 2014

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LXK – long trade
I like daily continuation possibility based on continuation pattern what we can clearer see on the 60 min time frame where consolidation is easier to see. For entry I will sue price above Friday high and we can see that swing target could be previous high what is also equal move resistance area. First resistance will be $36.50 area, but if pace will good same as start then I will look for $37.50 area


TRADE "IDEA", UA LONG ABOVE TUESDAY'S HIGH



TRADE IDEA FOR MONDAY, DECEMBER 30, 2013
SO - long trade

I think that 50sma on the monthly time frame is big support for SO and I will look for bounce possibility. For that I like daily cup and handle that is also a reversal pattern and I will take price above Friday's high for entry with stop under low. I hope it will turn in to swing trade. We can see several moving averages as resistances on the daily and weekly charts, but I think that monthly 50sma is stronger as support for now and I will give chance to SO if it set's up.




I put this video in here because, well, nice job, she explains it pretty well, we are coming up on a 4th wave pull BAC and then up and away to new highs on a final fifth wave, plus, if you like the chart you can buy the software at her site, http://elliottwavestockmarket.com/, go down toward the bottom of the site on the right side and it's under "Partners", it's "Motive Wave", I think you can get it for like a couple of hundred.

Ya Know, I don't know WHAT the CBOE is trying to "advertise" here



This Week in VIX – 12/27/2013 - 2013 low for VIX was March 14 & 15 - Since then S&P 500 is up 280 points

You would have made MORE points, if you would have brought the HIGHS of the $VIX this year, sigh, wad ever. 

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