Super huge volume on reversal candlestick pattern for Silver...
And shorted Silver i did... via ZSL (Proshares UltraShort Silver ETF)
And shorted Silver i did... via ZSL (Proshares UltraShort Silver ETF)
Showing posts with label High Probability Trade. Show all posts
Showing posts with label High Probability Trade. Show all posts
Wednesday, 13 April 2011
Tuesday, 12 April 2011
Mighty Silver
I was stopped out of the ZSL trade about 2 weeks ago. ZSL is a short silver ETF. At that point in time my analysis was that they were high probability trades going by the volume and price action but lo and behold... Never said never in the stock market. I always adopt this mentality when placing trades that : "I am going to be wrong most of the time". If the inevitable comes and the loss has to be taken, take it and move on!
Just when you had given up on this trade, another signal appeared. What do you do now? We do not throw in the towel yet. If your style of trading prompted that its a signal (high volume with reversal candlestick) you should take, then you should not give this trade a pass. For all you know, this trade might work out. I'll said: take this signal again and buy ZSL the next trading day with stop loss at the low of the bullish piercing candlestick spotted at closing today. Note the huge volume which was even higher than the previous trade i took about 2 weeks ago. Golly....
Short Sliver ETF (ZSL):
Just when you had given up on this trade, another signal appeared. What do you do now? We do not throw in the towel yet. If your style of trading prompted that its a signal (high volume with reversal candlestick) you should take, then you should not give this trade a pass. For all you know, this trade might work out. I'll said: take this signal again and buy ZSL the next trading day with stop loss at the low of the bullish piercing candlestick spotted at closing today. Note the huge volume which was even higher than the previous trade i took about 2 weeks ago. Golly....
Short Sliver ETF (ZSL):
Wednesday, 6 April 2011
BUY BUY BUY Financials !!
Financial stocks are starting to move. Do note that they have yet to take part in the stock market rally so far. In addition, cup and handle patterns were detected on their weekly charts. See earlier post here.
See BAC and FAS chart for today thus far (note that trading is still on at time of post).
See BAC and FAS chart for today thus far (note that trading is still on at time of post).
Friday, 25 March 2011
High Probability trade for 25 March 2011
Here is the iShares Silver Trust (SLV). Silver made an all time-high of $38 on Thursday, 24 March 2011.
The daily candlestick pattern formed at the end of the day was a bearish dark cloud cover pattern with huge volume. I will look to short Silver via the short silver ETF (ZSL). This is a simple trade. Determine your stop loss which will be at the high of the day and then average in to your stop loss point. Late bulls will attempt to push the price action close to the all-time high which is why i will average into my stop loss price.
The daily candlestick pattern formed at the end of the day was a bearish dark cloud cover pattern with huge volume. I will look to short Silver via the short silver ETF (ZSL). This is a simple trade. Determine your stop loss which will be at the high of the day and then average in to your stop loss point. Late bulls will attempt to push the price action close to the all-time high which is why i will average into my stop loss price.
Saturday, 12 March 2011
Weekend updates (2): How i will trade for 3rd week of March 2011
The Nasdaq Composite had experienced 2 gap down since mid-Feb 2011. Can you spot the 2 gaps?
Unfilled gaps are often trend killers so we can have reasons to believe that we are seeing a short term top here. If that is really the case, then we could be sitting on top of a gold mine now for short sellers.
Unfilled gaps are often trend killers so we can have reasons to believe that we are seeing a short term top here. If that is really the case, then we could be sitting on top of a gold mine now for short sellers.
I like to trade TYP (bear ETF) when it comes to shorting the Nasdaq Composite.
How to trade this setup? Buy at current levels with stop loss at blue spots (tight or loose) indicated on chart below. First possible target $24 region.
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