This Is Why You Should Combine Moving Averages And Retracement Levels
Did the market go up too
much yesterday? Where are the buyers? Are they already worrying about
tomorrow’s employment numbers? Anyway, as you can see below, the S&P 500 is
trapped in a narrow range so far this morning.
10:31:01 (from TradersWire)
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
Buy |
GLW | buy stop at 13.87 | pullback | 13.72 | 14 | 13.85 |
TK |
GLW staged a nice breakout shortly
after the open on strong volume. Unfortunately, I could not catch this movement,
so I decided to wait for a pullback. Around 10:30, the issue began to test the
20-period EMA and the 38.2% retracement level (yesterday’s low – today’s high)
on the 5-minute chart. I placed a buy stop at 13.87.
12:19:45
Follow up on GLW
We are selling half. Move stop to breakeven.
12:28:10
Follow up on GLW (Pt 2)
It has hit our target price. Sell the rest or adjust your stop.
If you have questions, feel free to
mail them to me.
Â