Thursday, January 19, 2017 10:31:30 PM
Do you think the market will be volatile tomorrow?
because of the inauguration ?
AVXL made a meaningful pop today...
hit the resistance point at 4.40 and got hammered down from there.
looks like the same old game ongoing...but its always a hopeful start when it makes a move. just depends on follow thru now.
But the pattern hasn't changed yet. I pity the sheeple traders who buy the 'topside breakouts' they got fleeced again today. This is why I Never buy top side breakouts. Above the 200ma resistance zone 4.20-4.30 ,what looks like a breakout zone.... is big steps of resistance ,every 10 cents from 4.40 to 5 dollars. every step of the way is a resistance trigger point, like the 4.40 today... any one of them could get hammered down again,in my view.
but I'm really trying not to sell too soon.... I place trades in the docket to sell some, and then I remove them the next day if price action looks hopeful... I have to imagine that when price runs up to hit 5 dollars a lot of traders will sell there. and it would be a good trade to make if I could be sure the pullback would fall again to retest 4 dollars to buy more again.... but its always tricky to anticipate these things.
weekly chart
daily chart ...look at that failure after the pop to hit 4.40 a total slam down.
because of the inauguration ?
AVXL made a meaningful pop today...
hit the resistance point at 4.40 and got hammered down from there.
looks like the same old game ongoing...but its always a hopeful start when it makes a move. just depends on follow thru now.
But the pattern hasn't changed yet. I pity the sheeple traders who buy the 'topside breakouts' they got fleeced again today. This is why I Never buy top side breakouts. Above the 200ma resistance zone 4.20-4.30 ,what looks like a breakout zone.... is big steps of resistance ,every 10 cents from 4.40 to 5 dollars. every step of the way is a resistance trigger point, like the 4.40 today... any one of them could get hammered down again,in my view.
but I'm really trying not to sell too soon.... I place trades in the docket to sell some, and then I remove them the next day if price action looks hopeful... I have to imagine that when price runs up to hit 5 dollars a lot of traders will sell there. and it would be a good trade to make if I could be sure the pullback would fall again to retest 4 dollars to buy more again.... but its always tricky to anticipate these things.
weekly chart
daily chart ...look at that failure after the pop to hit 4.40 a total slam down.
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
