Monday, February 11, 2008

Day Trading Wedges and Buying Into the Apex









This is something i trade a lot but don't really talk about it a lot as it very hard to explain in writing. I love to spot wedges (probably my favorite technical analysis pattern) and i like to buy right near the APEX. I took some of them and did well with them today. Another weapon in your trading arsenal. Spot wedges, triangles, and pennants and buy/short into the APEX.

6 comments:

Bluedog said...

Do you trade after the move at apex is confirmed, or do you place anticipatory trades?

-BD

Stewie said...

i buy into the APEX anticipating a breakout with a quarter or half positions and add as the breakout gets under way. The perfect setup for me a Holy Grail that has a form of a falling wedge. Check out my FXP trade from last week. PERFECT and text book for me.

Nick said...

Very nice trades, Stewie! I pulled MTL and CLF from your charts onto my watchlist but was stuck at the airport all morning while all the moves occured. Keep those charts coming!

upside said...

stewie baby
thanks for your kind words today over on streak--it was a great day for the good guys

Alex said...

You knew this was coming. Can you explain some of the basic rules for Apex trades? Thanks to you I caught that CLF in the morning as well as the SWN HG setup. Keep up the great work!

Stewie said...

Alex: i am very happy you caught that CLF. i caught it very early and had 1000 shrs as the breakout got under way but my chicken ass sold it for a total $1.5 gain rather ride for a longer/sweeter gain. i will do a full report on those APEX trades later this week. i promise you.

Nick: what do you know: every now and then i manage to find a gem or two. that's what happens when i actualy spend my Saturday night scanning new charts and not in the bars drinking long islands and betting randoms dudes at pool.

Hey Upside baby! hahaha!
You are the man bro. Your blog kicks ass, you are a very good trader and a very classy guy and everyone needs to know this. i just say the truth bro. Nice trading i CREE today. see ya tmrw!

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