Idera Pharmaceuticals Inc (IDRA)

[Citrati]

If you like the KISS method, you may like this chart look.
There is nothing on it but price and volume.
http://stockcharts.com/h-sc/ui?s=IDRA&p=D&yr=1&mn=0&dy=10&id=p78460684793
You should see:
where the resistance levels line up.
where the b/o's would likely come.
You can come up with much more as you ask yourself questions and draw lines.

If you cover up everything after May 1st, where would a safe buy zone likely be?
What would the likely resistance levels be?
Some have reduced positions to protect profits here. Why does the chart say that is prudent?

Now uncover the rest of the chart.
How does the price movement now correlate to the expected?
Pretty amazing how close the correlation is isn't it?
What are your expectations from here and are they supportable?

Ask yourself questions. Draw lines.
What we are working toward is increasing the odds of seeing the potential future with high enough odds in our favor to give confidence to our plan. It should be about expectation not hope. The disciplined trader/investor will have targets and a mental stoploss plan before ever entering a position.
Nothing is perfect so what is the plan for the unexpected?
A good exercise is to do this with IBB and one of the markets like $INDU or $SPX to see if you will be with or fighting other forces.

Trading is almost here again. Have a great and green week everyone.

IDRA

PS, No I do not trade entirely off one chart or time frame.