Monday, January 23, 2017

FGEN and SWKS possible trade setups

Here are 2 stocks I will be looking at tomorrow for the Daily Candle trade. Again with the daily candle trade you want to see strong odds that the stock will finish higher then the previous day.

FGEN: For several days lower highs and higher lows while in an uptrend. Broke the trend. Would look to go long high of the green candle.


SWKS: Massive gap up and run. I would pass on this except glancing at the 30 minute chart its condensing at the high. Would look to enter long
For both could exit at Pivot R2 - or hold till end of day.

Daily Chart

30 Minute Chart


* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

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Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE