TraderHank’s update on USDCAD position and new short position in AUDUSD

Posted on December 11, 2012 by TraderHank
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My trade in USDCAD finally trigger late yesterday afternoon.  I let the trade run all night long and price never bounced like I expected.  The price action was just consolidating allowing the moving averages to catch up.  I let the trade run until about noon with no luck so when I noticed the extended move made in AUDUSD I decided to take my tiny profit and throw my net out at the 1.0524 area which triggered a short an hourly later.  I like this long extended move up way away from the 20 ma and breaking major support.  This picture does not show it but price has already put in a topping tail and I’m in profits already.  I’m looking for a 40 pip profit on this new postion short in AUDUSD…  

forex
forex
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QQQ update and TraderHank’s stock picks for Tuesday December 11th, 2012

Posted on December 10, 2012 by TraderHank
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By 3 pm today the Q’s ended the 5 minute down trend and finished the day in a sideways trend with the high at 65.20 and the low of 65.05.  For tomorrow expect a very similar market as today.  If we gap down and stay above the 64.75 area, I would look to buy the first 5 minute higher low near 10 am or 10:30 reversal time with a first target of 65.05 minor resistance and the next major resistance target would be 65.20.  If we gap or trade through the 64.75 area, I would short the first 5 minute sell setup that occurs below this area with a short target at Major support of the 64.21 area.  If we open neutral and trade up through 65.20 or gap above this area, I would look to take the first 5 minute buy above this area with a target of 66.43 area.  Based on today’s price action my bias is neutral for tomorrow, let the market lead the way…  

qqq12112012
qqq12112012

Longs:

CELG – Daily Break out continuation 

GILD – Daily buy watch

JDSU – Pivot I continuation

LLY – Daily break out continuation

UNH – Daily buy triggered

VLO – RBI

Shorts:

TOL – Break down Watch

TEVA – Climatic Watch

WAG – Climatic Watch

Posted in Daily Analysis, TraderHank's Stock Picks | Comments Off on QQQ update and TraderHank’s stock picks for Tuesday December 11th, 2012

TraderHank’s play in CTSH

Posted on December 10, 2012 by TraderHank
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My next play was a 5 minute buy in CTSH as the 15 minute was triggering as well, it’s great when you have both time frames together, that way you have agreement with traders from both time frames and you odds go up dramatically that your trade will succeed.  Price action easily rose and took out the morning high where I sold 1/2 of my shares.  Price action 4 bars later put in a bottoming tail and I added to my position and reduced my stop accordingly.  Again price action did not disappoint taking out the new high set on the last higher pivot.  For the 3rd time price pulled back just above my last entry where I added shares back and reduced my stop to break even.  Well, CTSH almost broke out then price action shook out several times before I realized that we were headed lower.  I took my final shares off with a small gain on the last half of my shares.  A really nice text book play for me with a total of 3 “R”isk units made.  Here is my chart for my play in CTSH…

CTSH
CTSH

   

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QQQ update and TraderHank’s play in KLAC

Posted on December 10, 2012 by TraderHank
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The Q’s gaped down this morning to Major support at 64.75 and immediately set the low of the day thus far.  If you read last nights update and took the first 5 minute buy in the market then you were rewarded as the market rocketed upward to a high of 65.46.  At 11 am the market has started it’s retracement  lower and has slid back through minor support and is challenging major support.  The 5 minute uptrend is broken and we currently are sideways.  My first play was in KLAC which I found on my daily break out watch list.  At the open KLAC put in a nice big green wide range bar (Elephant Bar for you IFT’ers).  I waited for price to stabilize and I zoomed down to the 1 minute chart where I found a nice buy triggering where I entered the play.  I noticed that price was very thin and 5 minutes into the play KLAC pulled in hard taking out a 1 minute bar and half of the prior bar.  I sold 1/2 of my position hoping that I may add back on a buy further up on the chart.  Price then recovered putting in a small little pivot area on the 1 minute chart, thus I moved up my stop.  Price continue to be very thin, as the Q’s started to rocket upward, KLAC had no follow through to the upside and finally took out my stop ending my play with a small gain.  KLAC never broke to the upside and is now selling off, so I feel that I played this correctly.  Hey, if the market takes off and your stock just sets there, you have a dog!         

KLAC
KLAC
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USDCAD update

Posted on December 10, 2012 by TraderHank
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Well, we almost triggered our first buy in USDCAD.  I’ll leave the limit buy orders in until it hits or I see something better to trade.  

update
update
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Fishing net out for USDCAD long

Posted on December 9, 2012 by TraderHank
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I just throw my net out with my first of seven lots to buy at .9865 area with a 40 pip take profit of .9905.  My Stoch indicator is over bought on my 1 hour time frame as well as the 4 hour and daily time frames.  This makes this a high odds play, I just need price to whip down into my limit buy area and take off again higher.  I’ll let the play run all night with the hopes that price will retest the lows picking up one of my lots.  Here is my chart for my possible long play in USDCAD…   

usdcad12092012
usdcad12092012
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QQQ update and TraderHank’s stock picks for Monday, December 10th, 2012

Posted on December 9, 2012 by TraderHank
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The QQQ finished up Friday in a sideways trend with the high being 65.06 area and the low of 64.23 area, see the 5 minute chart below.  We started Friday with a nice bullish gap up that could not hold minor or major support and we basically had a trend day lower.  Even thou we had a large sell off on Friday, we never took out the low from Thursday’s green bar, see the daily chart below.  For Monday,  If we gap over or trade over the 65.06 area, I’d be looking to take the first 5 minute base consolidation break out or buy set up preferable around 10 am with a long target area of 65.06 and a second target at 66.50 area.  The only play short would be if we gap below the 64.70 area and then I would be looking for the first 5 minute sell setup to enter short with a lower target of 64.23 area.  If we trade below the 64.78 area I would be looking for the low of the day at or near 64.70 area, then look to take the next higher low long back into the 65.06 area…  My bias is neutral, wait for the market to break out from here before taking a play.

qqq12102012
qqq12102012

Longs:

ALL – Break out, Shake out, Go all out play

ANF – Daily buy triggered

BAC – Daily 123 watch

CTSH – Daily 1234 watch

GILD – Daily buy Watch

HAL – Daily Base Break out

KLAC – Daily Break out watch  

MGM – Daily 123 pattern

VZ – Money Bar

Shorts:

TEVA – Daily Climatic Watch

WAG – Daily Climatic Watch

    

Posted in Daily Analysis, TraderHank's Stock Picks, Uncategorized | Comments Off on QQQ update and TraderHank’s stock picks for Monday, December 10th, 2012

QQQ morning update and TraderHank’s play in JPM

Posted on December 7, 2012 by TraderHank
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The QQQ gaped up this morning to Tuesday’s highs at 65.71 and investors did not wast any time selling and prices moved back down through minor support, then through major support and now setting at the lows of the day at 64.81.  The next level of support from here is the 64.50 area which price action looks like it wants to retest this area.  My first play of the day was in JPM which I found off my daily list because price had been basing for the last 2 days.  JPM gaped just above the base and the first 1 minute bar put in a nice bottoming tail.  Over the top of the 1 minute bar gave me a nice 13 cent stop and nothing but clear sky above.  I added and reduced 3 times in the play and selling at new highs.  If you want to see how a professional trade looks like, check this chart out.  My goal is to make every trade look as good as this one.  Ah, I could hear the silent applause!  Here is my textbook chart for my play in JPM…

 
JPM
JPM

qqq12052012

       

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QQQ update and TraderHank’s 15 minute short play in the Q’s

Posted on December 6, 2012 by TraderHank
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The market gaped down to the 64.50 area at the open and setting the low for the day so far during the first 5 minutes.  We rallied up and triggered a 15 minute sell in the market at minor resistance, which failed and now we have moved higher into major resistance where the market has set the high of the day at 12:00 noon.  From here price in the Q’s is drifting lower but for now we have ended the down trend and at best we are now in a sideways trend.  My first and only play thus far was the 15 minute sell in the Q’s.  I’m not one to trade the market but it was my best setup from my universe of stocks.  It had text book qualities such as 3 bars up into minor support, topping tail bar nice hard trigger etc.  The only negative was that the move came from Major support below forming a well known possible W pattern where traders will believe that we have the bottom for the day.  Here is the chart for my play in the QQQ. 

QQQ12062012
QQQ12062012
Posted in Daily Analysis, Market Trade | Comments Off on QQQ update and TraderHank’s 15 minute short play in the Q’s

QQQ analysis for Thursday, December 6th, 2012 and TraderHank’s stock picks

Posted on December 5, 2012 by TraderHank
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The Q’s finally rallied today off the lows of 64.55 into lunch at 12:30 and triggered two 15 minute sells the first one failing, the 2nd one grinding it out lower.  At 3:00 pm we had a shakeout to the upside then the market came crashing downward to finish the day at 64.90 well of the high of the day set at the open of 65.54.  For tomorrow I would be looking for the first 5 minute sell set up at the 65.00 level if we open and rally upward.  If we gap down and or run down to the 64.50 area, I would be looking for a long at 10:00 or 10:30 reversal time with a target up to the 65.00 area where I would be looking to fade lunch.  If for some strange reason we gap to the 65.40 area I would be looking to fade a topping tail or you can wait for the next lower high (5 minute sell setup).  

Longs:

ALL – Daily Break out

AMGN – Break out watch

ANR – Daily Break out

BAC – Daily Break out

C – Gap continuation

COST – Daily Break out

FSLR – Daily 123 pattern

HD – Daily Buy Watch

Shorts:

TOL – Gap n Crap Continuation

WAG – Climatic watch

qqq 12062012
qqq 12062012

        

Posted in Market Update, TraderHank's Stock Picks | Comments Off on QQQ analysis for Thursday, December 6th, 2012 and TraderHank’s stock picks