Doji Plays / Gold Time Correction / Swing Updates / Delayed Day Trading
I expect this horizontal time correction in gold to continue with an upside breakout. I will make secondary entries in GLD, IAG, and GG, as well as other gold names during that time. I will exit the remaining 1/4 swing in WYNN today. So far all swing plays (MGM, LVS, WYNN, IAG , GG, GLD, etc.) have either been booked for a profit or are profitable on paper.
The market is in a channel, but more specifically, in a broadening reverse symmetrical triangle. This type of consolidation typically lasts for a while. At this point, this pattern is neither bullish nor bearish.
I have three finals coming up very soon, so I will not be executing rapid-fire scalps for the next 2 weeks (for the most part). Instead, most day trades will last longer than just a few minutes with more aggressive entries and delayed exits to accommodate my lack of time.
Below are two doji plays. Remember that doji are indecision days. How do you play doji gaps? You either go long or short either 1) upon a gap up above the previous days highs or a gap below the previous days low or 2) upon intra-day breakouts or breakdowns of said highs and lows. Once direction is determined, the prevailing side usually continues the price action in the direction of resolution.
ABX could perhaps be another doji play if it opens above 43.50; was trading above this level a litte earlier in the premarket
Bought $KERX 5.10, $JRCC 19.00 $SHOO 59.21
Bought $RPRX 1.07
out $RPRX 1.00
Sold half $KERX 5.48
Sold $JRCC 18.77, stop
Hold the line on gold
Sold $SHOO 58.69, slow
Out final 1/2 $KERX 5.46
re-bought $JRCC 19.18/19
out $JRCC 19.10, no vol
Thanks so much for the swingtrade recommendations!
gold homie.
*******HALF OFF ALL GOLD SWINGS*******
Why now? Exhaustion candle?
watching $PWER $NLC $DNDN $DTG etc
all 4 of these stocks broke out
long $BP overnight
Interesting post but like always I tend to confirm everything I read on the net.
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