Just wanted to throw up a few charts that look interesting to me.
TBT basing at previous support.WFC set up a descending triangle; measured move about $30.50GOLD rallied today and set up a flag on the daily chart, just when you think something can't go any higher...NFLX, sitting at the bottom of a flag pattern while printing a NR7 today. Downside support around $33.I thought coming into this week that FSLR looked week, and bound to fill the gap below. But now I'm not so sure. Today it recovered the 20-EMA, while momentum looks like it may be setting up for another push upwards. Perhaps the general strength of the Nasdaq will determine the stength in FSLR.
AHT doesn't have the volume, or price range, I like. But, it has a perfect ascending triangle and price closed at the highs of the previous consolidation range. A measured move would bring price up to September '08 highs, around $5.25.
AMZN is sitting at resistance (and 52-week high range). Looking at the weekly chart of AMZN, last week printed a very strong wide range candle after coming out of it's 3rd consecutive flag pattern. A measured move out of the most recent flag could put price back at the all-time highs of around $95.ARO is set up right near it's 52-week highs; Pop or Drop time.This weekly chart is ridiculous
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
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