[INTRA-DAY ACTION]
Bad TSO trade:
Missed the double top because I was just getting back from college. Blatant sell signal seeing how it was also a touch on the downward trendline. I went long looking for a supportive 200MA (not on chart), but it failed and I bailed out. Good exit because it crashed again. Really should not have entered on the 200MA given the lack of a definitive short term trend.
The ideal technical entry based on this chart, is $16.40 or $16.25 depending on which double bottom you use with stops at $16.325 or $16.20.
Seems I got back at a really bad time as I missed a good support touch and subsequent $4 pop in X.
GM still holding on to the $10 range which is now a value entry price given the workable supportive range from $9.9 to $10.05.
By the time I get back from college on Tue/Wed/Fri I will have missed the most important time for trading (3pm-3:30pm my time) the nice setups. I will just have to be a lot more patient.
Not much else happening, my swing trades from Sunday are still shaping up OK - with none thus far giving a signal either way yet.
Missed the double top because I was just getting back from college. Blatant sell signal seeing how it was also a touch on the downward trendline. I went long looking for a supportive 200MA (not on chart), but it failed and I bailed out. Good exit because it crashed again. Really should not have entered on the 200MA given the lack of a definitive short term trend.The ideal technical entry based on this chart, is $16.40 or $16.25 depending on which double bottom you use with stops at $16.325 or $16.20.
Seems I got back at a really bad time as I missed a good support touch and subsequent $4 pop in X.
GM still holding on to the $10 range which is now a value entry price given the workable supportive range from $9.9 to $10.05.
By the time I get back from college on Tue/Wed/Fri I will have missed the most important time for trading (3pm-3:30pm my time) the nice setups. I will just have to be a lot more patient.
Not much else happening, my swing trades from Sunday are still shaping up OK - with none thus far giving a signal either way yet.
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