Featured setups from Monday December 13 closing data symbol scan
Jump to: Long Setups | Short Setups
Notes for the Day
It might simply be that I’m not feeling well, but very little stood out in the charts for me. I can see quite a few setups which might be ready to play tomorrow. Hopefully the market and I will be back in synch by then.
Long Setups
General common strategy: Unless noted otherwise, buy stop just above the “high” value, with an initial protective stop at the low value of the bar, not below the bar.
Test of Bottom – Reversal
KGC (also K on TSX) Gold charts generally look weak, caution advised.
Retracement or Pause in Up Swing / Up Trend
IACI – worth following up on here for a day or two more provided it doesn’t break Friday’s low or pull back into that range.
Short Setups
General common strategy: Unless noted otherwise, place a sell alert at or just below the low of the setup bar, and look for the first failed intraday bounce after the low has been broken. What we are looking for is price to push down, bounce a little, and fail again – this is where we want to get short.
Test of Top – Reversal
IPIX – bear flag forming and at this point a down trend in place.
Retracement or Pause in Down Swing / Down Trend
ISIL, carry forward from yesterday, forming a “stealth bear flag” here just above the test of bottom.
04.12.14 10:48 #