My watchlist for this week. Only gna be picking the setups with the best risk to reward. This is my first watchlist I’ve ever posted so it’s probably not the best but I tried :)
Since I’m bearish on tech this week gna be looking for more downside to this and other tech stocks.
But yet again going to be patient and wait for confirmation.
Let the chart guide you.
$SNAP ^
$BCS Going to be watching for trend line breaks but as of now I’m bearish 🐻 on this one
$X
Selling volume rising.
If it breaks through this support I’m bearish 🐻
$SLB
Selling volume rising.
Watching for trend line breaks.
$MOS
I’m kinda seeing a bearish rectangle right now.
Seeing rising selling volume.
Going to let the chart guide me.
$SOFI
I think there’s a low chance we see a support bounce but still a possibility because I do see the the volume decreasing.
If it does bounce though going to let the trend line guide me.
$CVX
Selling volume on Friday.
Watching for trend line breaks
Only watching this one cuz it’s approaching a demand zone and it’s been down trending for a while and I see the selling volume decreasing
Rejected of the trend line I expect to see more continuation to the down side.
Btw the blue boxes are support and resistance areas not supply and demand.
Selling volume decreasing. Going to be watching for trend line bounce but just waiting for confirmation though.
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I’m sure you all have heard of chart patterns and I hear many people saying they don’t believe in chart patterns. The reason why chart patterns work is because of supply and demand.
Chart patterns do not always workout the way people expect them to on every ticker. The reason for that is because nothing is guaranteed in the stock market, you’re trading a ticker with weak price actions, or chart has a history for not respecting certain patterns
They always take action when they a A+ setup that they like. They never try to force trades and usually let the setup come to them. They will ALWAYS have a plan before taking action.
They will always take responsibility for their trades and they understand that anything can happen so no matter how good the setup looks they are cautious and accept losses. They always learn from their mistakes.
Professional traders cut their losses if their trade goes against them and their stop gets hit. This shows that they don't trade with any emotions which makes them a good disciplined trader.
They let their winners run until the stock gives clear signs to exit and they have a reason for being in the trade