Shakedown 3/18/18

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Weekly Trading Experts Shake Down Newsletter

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the SHAKEDOWN

March 18, 2018

Chop chop! The chop continues. 4 out of 5 days this week the market gapped higher pre-market only to close lower. 5 red intradays in a seemingly strong market never makes for an easy trading environment. It is imperative not to get 'chopped up' by overtrading. Being highly selective is key during these times. Always easier said than done however. 

YRD(iesel) Long

Some really solid earnings out of this YRD. We've been trying this pattern a bunch of different times in the past few weeks, but I believe the setup now looks the best it has with earnings behind it along with proper consolidation. Combine the horizontal resistance level with the downtrend line from highs hugging it ever so tightly, some volume and I'm looking for a feast above $44.

Trigger: $44

Stop: $41.99

Target: $50-54+

Hope to see you in the chat Monday!