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Steve's Trading Diary - March 2007


3/26 Bought SPC on the positive open. It traded up nicely most of the day, up a good percentage. It traded right at the T-line. We're looking for it to come up and test the moving averages. Continue to hold and use Friday's Doji at around $5.50 as your stop. 3/27 Although it traded a little bit lower most of the day, it didn't do anything devastating. This is still showing a strong signal. We would be buying aggressively if it comes up through the T-line. Anticipate a target at the moving averages. 3/28 It held up reasonably well but we definitely need to see it pop up through the T-line in the next day or so to confirm the nice bounce to the upside off the Doji. Once it breaks through there, the next target is at the moving averages at around the $9.00 area. 3/29 It traded relatively flat. It needs to show a breakout to the outside very soon. We'd like to see it break out through the 20 day moving average and move higher to the other moving averages. 3/30 It moved up above the T-line. It's still in an upward trend and is doing a nice reversal. We could see another breakout to the upside. 4/2 It traded up above the T-line on Monday. It formed a Doji but not in the overbought area. Continue to hold. We'd like to see it pop back up. 4/3 It's still in a slow, steady uptrend. The stochastics are starting to get worn out a little bit. It needs to break through the 200 day moving average to get another pop to the upside. 4/4 It closed just above the 20 day moving average on Wednesday, bouncing off the T-line. There is still some juice left in the stochastics, although not that much. This is an area where it could break out to the upside. Continue to hold. We don't want to see it close back below the T-line or anywhere below $6.34 at this point. 4/5 It's still slowly moving up. We're still anticipating a test of the 50 day moving average. 4/9 It's still staying up above the T-line. Even though it's in a toppy area, it's forming kind of a Fry Pan Bottom. Look for a possible breakout to the upside. At this point, use any trading below the T-line as your stop. 4/10 It consolidated a little bit but indecisively. It came right back to the T-line. Continue to hold but a close below the T-line would warrant closing out the position. 4/11 It closed right on the T-line. If it opens weaker or trades below the T-line on Thursday, close out the position. 4/12 It came down, bounced off the 20 day moving average, and came back up again. It needs to open higher and continue higher. It could now break out and move back up to the 50 day moving average. We don't want to see it close below the 20 day moving average. 4/13 It traded back up above the T-line. Look for a breakout to the upside. The stochastics are starting to curl back up. We want to see it move up to the 50 day moving average. It's still coming up off a strong signal, a Doji in the oversold area. 4/16 It's still slowly moving in an uptrend. Use a close below the T-line as your stop. 4/17 It needs to stay above the T-line on Wednesday and trade higher. If it trades below the T-line on Wednesday, close out the position. 4/18 It traded higher on Wednesday and formed kind of a Morning Star type signal. Look for it to continue higher. 4/19 It's still holding up above the T-line, continue to hold. 4/20 It's still in an uptrend. Use the T-line as your stop. 4/23 It's still moving sideways and staying above the T-line. Be ready to take profits if it closes below that level. 4/24 It's staying above the T-line but needs to pop to the upside fairly quickly. The 20 day moving average is starting to come back up but it may take a couple of days to cross the T-line. If it closes below the T-line or below $6.60 on Wednesday, close out the position. 4/25 It's still slowly moving up. Continue to hold. It still has a good chance of popping through the 50 day moving average to the 200 day moving average. 4/26 It finally broke out nicely after a long delay. No

 

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