daytraders aftermarket lounge – 1 december, page-178

well musashi put it this way, I'm "paper trading" in my head about half a dozen stocks intermitantly each day that I don't actually hold, watching the intraday charts, learning a bit each day -

have a full time job, am second or third year out of uni, so am part time trading... can only trade stocks like GCN, ROB, ANP etc if you're full time in front of the screen I think... also explains why I go for "safer" short term entries (2-5 days usually) rather than day trades

would love to take a month off work and give it a crack full time

thanks for your kind words and advice, lol and the odd tales :)

goodnight peeps, good luck tomorrow

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PS - some picks for tomorrow maybe?

NTU - Havn't seen bollies as tight on any chart as they are on NTU daily for a while, looks like it wants to bust, formed a pretty as a picture low vol test bar just under multipivot resistance, careful though has gapped over that multipivot line on open recently only to form a trap up, closing on its arse for the day, eg on 11 Oct and 22 Nov, so watch for backtesting of resistance on intraday IMO for confirmation as it has dodgy recent history on that line

PVM's put in a beautiful low vol test closing back in the uptrend (its a multipivot line that defines it) with stoch bottoming, sitting right on top of the huge breakout bar to boot

TIS - expecting an automatic rally on this sometime soon (google "wyckoff automatic rally", check it out) - huge supply vacuum above, all the weak holders have been completely rinsed out - ultrahigh volume buying came in the other day at 52 week lows, has been tested on the daily with beautiful little bar today, from VSA view is textbook stuff you don't see often in real life (looks too perfect so am kind of suspicious actually)

POH - i differ slightly with musashi on this in that I wouldn't be surprised if it shows strenght immediate term - 50% confirmed as end of 3 wave corrective (i think), and while the last two days action feel like a bit of a trap move, today showed no supply, so little pressure can arise from the trap, with strength behind us AND slow stoch and RSI breaking out of trend

RMS somebody mentioned RMS above - a little trap move today, but it was very light volume so not much pressure can be applied from it, price opened on 41ema this morning clearly rejected, needs to retest 1.50-1.60 and rest for a day or two to regroup and let the indicators cool off... I actually like the look of the daily but if it closes the week a couple % lower than today, IE if it drifts down to close on that 1.50-1.60 support tomorrow, then the weekly is gonna look like crap IMO