This Is Why You Should Use Trendlines In Your Trading
Gold is the best
performing sector this morning. Look at the daily chart of the Gold
Index below. The rising trendline is still intact, but it is forming a bearish
tail again. If you own gold stocks, maybe it is good time to take partial
profits.
10:13:41 (from TradersWire) The clock is
three minutes fast.
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Sell |
IBM | sell stop at 74.98 | pullback | 75.20 | 74.70 | 75.08 |
TK |
IBM gave us a clear sell signal. Shortly
after 9:45, the stock began to pullback from its intraday low. But, the
declining trendline and the 20-period EMA were too tough to overcome. I placed a
sell stop order just below the 75 level.
10:29:56
Follow up on IBM (Pt 2)
It has hit our target. Cover your remaining shares or re-adjust your stop.
Did you take a double bottom buy after covering your short positions?
If you have questions, feel free to
mail them to me.
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