lowtrade

[lowtrade]

There are a few tips on FWLT, after my years of playing it, that I noticed.

!. I swing it on a monthly swing trade rather then 2 week. That's the time limit only. Meaning don't hold longer.
2. Trade the channel present more then the most recent chart pattern. This is contrary to what I teach.
3. If you see a 2 week stall/basing, take profits. Because it usually retraces after 2 weeks without a breakout continuation.

As for "V" bottoms you see a lot of them along with flags in the channel. But the channel is the play. Whether the channel is up, down or sideways, there's always a channel to trade. buy the bottom channel line bounce, sell the top channel line reached. That's how I play FWLT. Naturally you need to keep an eye on it for possible adjustments. I check ever few days.



http://stockcharts.com/h-sc/ui?s=FWLT&p=D&yr=0&mn=3&dy=0&id=p95867502526

Right now it's had it's month run, 2 week stall and retrace . Then a failed comeback causing a double top. If 33.70 support holds, the double top should fail and 34 (1st gap fill) should be a safe entry, with a gap above still. But if 33.70 falls, double top target is 32.60.