Thoughts....

Since many from the list have triggered the past couple of days, the breakout watch has been depleted. I've added a few tonight that I feel will be worth watching over the next week or so. Several in the update need some more time under resistance to allow the 50 Day MA to flatten out. As usual, they are all short to intermediate term setups. To hold the risk to a minimum, the 8 MA can be used as a guide for a stop. If any bust over resistance, they should work pretty quick. I don't see a point in waiting around hoping it's going to work when there are a ton of other opportunities out there.

Comments

elkate said…
Hi Tony,

I'm looking at your setups for tomorrow and many of them are not at s/r levels, are you now playing them at these levels with tight stops or do you wait for S/R levels as you usually do?

Thanks,

Elad.
January 5, 2009 at 10:41 PM
Tony.Wiltshire said…
Elad,

I just added some breakout setups that have been on my screen I didn't include on the weekend review. They are different than the S/R setups. I only do them once they break over the level I have marked. Also, the volume has to be impressive, and I never do them the first 15 minutes off the open. I'll have some trading rules up by the weekend. Finding any free time has been hard.

Good Luck,

Tony
January 5, 2009 at 11:04 PM
elkate said…
Hi Tony,

Thanks for the clarification. I am looking at ABK and it seems to forming the same kind of steup on the daily that you post here, let me know what you think.

Thanks,

Elad.
January 6, 2009 at 12:18 PM
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