Legs are formed when a stock has a push in price. Typically only used on stocks that are running. For example, If a stock makes a leg up then experiences x number of days of pullback then looks like it is setting up to go higher then it looks like its setting up to form another leg.
@CrowofShortClan Thank you, and sorry if I'm being slow, but what do you mean by a "push in price"?
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Yes i Will not short. I know that IF you short you can lose money then you put in.
@CrowofShortClan but what doed it take to be spproved for margin account? I am from sweden and herr you have to have good Credit score to be able to short stocks.
Sorry my Phone acts very strange whrn i type.
I'm from the states all of the brokerages that I know of don't care about your credit score. I don't have a credit score, and I can short. The brokerage policies may differ in Sweden. I would recommend contacting the brokerage you wish to short with and see what there policy is.
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I wouldn't trade either of those, their both overly extended and haven't broken out confidently
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First red day is an extremely beautiful I have a whole watch list of over-extended stocks I've shorted. First green day breakout is another nice one these are the two patterns I play. I like to swing both ends to maximize profits and conserve day trades, but the beauty of it is you don't have to stick around that long if you choose not to. $CEMI, CHWY, KALA are recent examples of first green day. I don't have any recent example I could show you for first red day.
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You have to think in terms of consistent profits growing the account.
I use TD and the Think or Swim platform. I am not a fan of their scanner though because it is not real time in pre-market. That is the time of day when I find most of my trades and look for biggest gainers. If I can catch then at the top premarket, sometimes I go short. Otherwise, I try to catch a sell off after open on stocks with low floats and news. Currently, I am loving stockstotrade.com software. It was quite a blessing to me last month when I started to use it.
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i think you csn expect it to fall tomorrow. The stock market has made gains for 3 days in a row. First time in months, so we should see a loss tomorrow in certain sectors. I would wait a day or 2 to buy
Just off a quick chart analysis if it can't hold in the $32s then next is $31 if it can't bounce there $30 is the next support. Finished weak today, but still did hold $32. I would have to see the next candle on the daily to give a confident prediction for where its headed.
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It seems ok after looking it up just now. I would be careful picking it up here because it hit a 1 year high Friday and checking the 5 year chart it's around that key resistance in 15-17 area. I wouldn't call it a pump and dump but you don't want to be investing here, maybe look for a day trade to scalp it.
thanks for the responds. ill wait later and try to short sell it. ill scalp it until it drops I'm afraid to go long on this one.
Wouldn't consider it a pump. I would recommend to avoid stocks that don't communicate a clear opportunity to monopolize off of.
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Just a quick note they a released a ATM offering in A/H, if you didn't already know.
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Thank you!
very helpful!
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what do you mean #2 level?
how will you know when up side is confirm ? right now on level 2 it showing pretty close to ema line
@flight I currently use vwap and a 19 ema on a 5 min chart. I look for the ema to cross vwap. Price was weak all day and rode my 1.08 rail. The ema crossed A.H.
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Well said!
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You learned three crucial lessons! So you could say it was worth just as much as those small gains that were lost.
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Thanks @AuthenticCrow It's going to be a fun one!
The Journey Of Trading Is Like A Thousand Knives, The Trick Is To Heal After Each Cut And To Continue The Pursuit Of Your Prey
The Student Learns From His Master And Then One Day The Student Becomes The Master And Joins The Others Whom Have Ascended To The Next Level Of Trading
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For me, I look for stocks under $5 and have it set for stocks up at least 5% on the day and look for stocks that keep re-occuring
@AuthenticCrow thx
a Scan wont tell you if a stock is being promoted -- https://profit.ly/user/TimLento/videolesson/december-2017-trade-recap-vibi-nrbt-wcvc-nxtd -- Lento talks about his research for finding pumps
Stocks that are up a large amount over the course of many days can indicate a pump but you need to do your own research.
Congratulations!
@CrowofShortClan thanks!!
Thank you for you honesty. Congratulations on these two trades!
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