Wednesday, December 26, 2007

More Holy Grail Setups that Took place today






5 comments:

Ragin' Cajun said...

Amazing!

ainkurn said...

i'm happy to see that you are basically using the same system for trades that I am. Hopefully I can eventually be as successful as you are.

Stewie said...

it's simple. just identify the strong rally first, then your job is to wait for that 20 SMA test. the more clues you see that it is holding that 20 SMA the better, i.e: a hammer, a consolidation pattern. the pullback needs to be smooth and corrective in nature, not sharp and impulsive. you also just wanna see proof that the 20 SMA test is working. the more you see the pattern the more you'll train your eye to spot it in real time trading. I keep posting those patterns whenever i see them and as always, i'll keep calling them out on walsstreak.

BullPreacher said...

Stewie, Very Nice. Appreciate your insight. Question, do you use chart to exit (ie coming back to 20) or simply a price target or gut feel?

Stewie said...

once i am profitable in the position, then you know where you need to get out. Once the position starts to work then you know that the 20 SMA was indeed support and therefore a break of that support, would be the stop area. You do not want to hold it if support breaks. I usually take profits based on guy feel mostly. most of the time i leave a ton of money on the table but that's ok. I will make for it in other stocks using the same setup.

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