daytrade diaries... december 9 part 2, page-131

LoveCCE

"So genuine question - why did you buy ADN with that kind of close. My newbie opinion is that shooting start candle is ominous."

OK > lets start by the play of trade today. ADN opened at 34.5. It came back to 33.5 before jumping up to 39.5. I traded this once from 34.5 to 35.0 because the depth was ripe (there were few sellers at 35. I bought back at 33.0 because the previous low for the day was 33.5. It closed at 33.5 which is an important pivot in todays (repeat 'todays') trade cycle.

Why buy? The weekly chart suggests strong upswing is coming very soon (days). The MACD has widened and the risk is low. The trend is confirmed and the chances of me being able to make a cent (minimum) on it are exellent. The futures are green and I think it's a doozy to trade on good volume.

Hence why I bought.

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