If you have want to ask for more detail or other specifics regarding these charts, charts of your own, or any other trading related stuff, then get in touch. I'll happily answer or look into whatever you need. I try not to bother with sub $2 stocks though.
I do worry with the amount of fundamental based thinking going on in the blog post section. Technical analysis is undoubtedly king, and removes almost all bias - provided that you consider yourself a long AND short trader. I don't know a single bit of real world information in regards to any of the charts provided below - except WTW, though only because the news was widely commented on. I don't know what they sell, make, do, earn etc... even the full company name is a mystery to me in most cases. The only time I look up a fundamental is when I want to confirm a low float squeezer, and so I then need to know the float size. That's it.
Percentage gain movin' and groovin' all day, every day!
So here we go on yesterdays chart action :
@R3negade - truth be told there is no indication prior to the move to tell me it's going to trap. Only once it reclaimed the $21.50 support could I then get some confidence in taking long positions having seen the trap play out.
@R3negade - one note to keep in mind is that if you did short at the point and you then see it spike down hard like it did, let that be a sign to you that something may not be right and maybe make a move to cover what profit you have or take a minimized loss.
most of these the volume is really low ma man. or no ?
@DildoBeggins - sure, yes some are lower, but it doesn't take away from the effectiveness of the pattern or signal. Entering and exiting with larger positions could make them a little more challenging, but then scaling in or out would be ideal.
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