All Entries in the "chart patterns" Category
Burrito Time!
Don’t look now, but CMG is back on the move – and potentially in a very big way. The chart below outlines the large, multi-month ascending triangle that’s been forming, and currently we’re seeing a breakout attempt in the stock.
Always Look to the Left
A friend of mine recently mentioned that the area to the right of price is the only place on a chart where you make money. He’s absolutely right. But I’d add that by also looking to the left, you can save money as well.
Trading Roadblocks
Sometimes we just get so fixated on the here-and-now pattern that we fail to recognize what might lie beyond.
Don’t Discount Daily Charts When Day Trading
Day traders often forget the value that the daily chart can bring. The conclusion is that it’s only suitable for swing trading or position trading, but the truth is that the daily chart can offer some good signals for entry and exit as levels are cleared or reached.
Strong Coffee
Truth be told, free Slurpee day is what’s actually on my mind, but if you’re looking at the charts of anything drinkable right now, it’s all about coffee. These things are hotter than a car hood in the Texas summer.
RVBD at Key Resistance
With the stock currently at the top end of this range, you have to wonder if this is an opportunity for a downside reversal.
Timeline of a Short Squeeze
Let’s consider some useful lessons from this short squeeze of the past couple of weeks and see what we can learn.
