BEAS setup works on all timeframes
In one of my previous tips, I told
you that my #1 exit rule for day trading was to exit into sharp waves.
As you know, one of the things we love most about technical analysis is the fact
that the principles that apply to day trading will also apply to longer-term
swing trading of stocks.
In fact, our Small Cap Swing Trading System just exited an
easy 5.0% winner on
(
BEAS |
Quote |
Chart |
News |
PowerRating) using that very same #1 rule of day trading
exits:
Notice how we bought BEAS on a nice dip after a recent high in
its uptrend. We then patiently waited as the stock struggled to make new highs
during the end of the year as profit-taking took over and almost all stocks
struggled. Then, almost like clockwork, BEAS exploded higher on nice volume
today, and we exited into the sharp wave of buying for a nice profit.
Did we sell too soon? Maybe–but when you sell you only have
two options: You either sell too soon or too late. Guess which of those I prefer
;)
If you want to get my small cap trade alerts in real-time. Try
a one week trial membership to DaytradeTeam.
Andy Swan
Andy Swan created and
co-founded DaytradeTeam five years ago on a principle of empowering
individual stock and options traders with the techniques and analysis methods
typically reserved for elite professionals. His expertise in technical analysis
and commitment to educating members earned DaytradeTeam a top-ranking among
advisory services for several years.