Be Selective In Your Pattern Setups — Here’s Why
We should trade the
patterns what we really like. I am not suggesting we should trade
only the perfect patterns. But, we should not settle for something clearly
against our trading rules.
09:41:06
Alert
Gilead Sciences (GILD)
is moving above the 50-day EMA, and it is now challenging yesterday’s high. GILD
is up 0.97 at 62.64
Actually I am not so thrilled with the daily chart of GILD.
There are too many bearish tails. They often appear near the top. In addition to
that, the stock has a gap zone to overcome. But in spite of those negative
elements, GILD looked poised to take out yesterday’s high…
Let’s be selective.