Next Week’s HPS Watch List has been uploaded to Site

3 days off … auggg! How do you cope?  Research, but wait its done for you.. Now how you gonna cope?

I have great selection of stocks, but not to many, I would add VMW to the list if it wasn’t going into earning but will be on it after earnings , Each one of this week’s HPS could be classified as a Best Bet and because of that I will be looking to be in each of them. 

I Want to strive to bring only pure HPS stock to the table. What does that mean?

First it needs to have 3 or more simultaneous indicators lining up ( from the 5 indicator system)

1. Stochastics at an oversold or overbought level depending on long or short trade.

I use the stochastics on the 60 min time frame to confirm and improve the timing of the entry.

(This is called the 60-Daily stochastic setup) 

2. Price has to be near or on a trend line (Trend line developed by drawing a line between 2 or more price pivot points)

3. Recognizable pattern (Channels, Wedges, Flags, “W” patterns, topping and bottoming patterns.

4. Support/Resistance (previous area on the chart that held) Typically seen as a double bottom or retracement from recent pattern break. I have also added Moving averages to this as a support/resistance zone

5. Reversal Candlestick

Hammers

Piercing Patterns

Bullish/bearish Engulfing & outside day

Rare but Tweezers 

 

This is what the criteria is but I left out one thing.

Quality meaning trade something you believe in don’t try to reinvent the wheel or find the next cancer cure stock. Great companies are harder to manipulate in price and there are less hidden dangers.

Here are just a few examples of HPS from last week from many others.

 

Thanks for the great week, Welcome to all the new members and see everyone Tuesday

Video can be scene http://daytradingradio.com/10for1000

DTRS

 

The information contained here was gathered from sources deemed reliable, however, no claim is made as to its accuracy or content. This does not contain specific recommendations to buy or sell at particular prices or times, nor should any of the examples presented be deemed as such. There is a risk of loss in trading futures and futures options and you should carefully consider your financial position before making any trades. Stock, futures and options trading carries significant risk and you can lose some, all or even more than your investment.