As much as I’d like to write-up detailed posts going over my thought process for taking each of my trades, it simply hasn’t been possible. To darn busy! In any case, here is an update on my current ACTIVE trades that I am in right now.
You can also view my trade history that I’ve been sharing on a GoogleDocs spreadsheet since 4/16/18.
Also, here is a quick screenshot from the spreadsheet summarizing the statistics of those swing trades:
Overall, you can see that I’ve broken down:
- The average of 100% of all trades taken
- The percentage gain of the winning trades
- The percentage loss of the losing trades
- A summary of the total trades taken and the breakdown of the ratio between the winning and losing trades
You can see on the spreadsheet that I’m currently I’m in 3 active trades: LTRX, AG and ATEC
A few thoughts on my LTRX swing trade:
I took the trade the very next day that you see here. This was a matching low pattern, where the price closed at the exact same level of the prior day.
You can see that the sharp, downward moves have started to narrow right around this point where I was about to enter.
Certainly a steep decline, where there is likely support from the sharp move up, with the sharp decline right back down.
Expected a bounce here. Since then…not too much has happened.
I might have jumped in on this one a bit too early, but so far, I like what I see, which is a narrowing of the daily trading ranges, and a consolidation around what I had considered a support area.
Check out the update since my entry:
Not a whole heck of a lot going on here, right?
In any case, I’ve got a stop-loss set at 2.65. It came sooooo very close to getting triggered on one of those days that you see there, with a low of 2.66.
It has recovered a bit since then. Hopefully in the new week I will see the sharp bounce that I had been anticipating!
Yesterday I entered a swing on symbol AG:
Entered this one at $7.45. It closed for the day at $7.65. I’m expecting this to move toward the $8 range.
Here’s a chart:
Look at that big white candlestick. I got in a tad below the opening, in that lower wick. With this trade, we have a stock in a uptrend so far this year (the upsloping trendline) that just recently pulled back to both the upsloping trendline and a horizontal support area.
If you know my trading setups related to trendlines, you know that I love these!
Here is a longer term view:
This is a 5 year, weekly chart.
First of all, wouldn’t it have been amazing to have been a buyer on that dip below 3?
You can see that I highlighted a downtrending channel that had been in existence going back over a year. Recently that downtrend has been snapped.
My point here is that we are now in a uptrend. This stock is behaving well, so the likelihood that buyers will come in on the dip that I bought is high.
Here is the 6 month chart where you can clearly see the nice uptrend that started around March 2018. I like the odds of a bounce on this one, and so far, you can see that it behaved nicely with a narrowing of the daily ranges for a few days at support, then a confident move up. Reaaal nice!
Here is the detail on my second entry yesterday, ATEC:
This one is interesting.
My entry point is at $2.86 earlier in the morning on that lower part of the candlestick wick you see there. It close the day at $2.95.
The red line is what I consider to be one of the horizontal support lines (long-term), and the blue lines are horizontal support and resistance.
What I want to point out is the highlighted yellow box that I drew. That is an area where buyers and sellers were rather evenly matched. During that timeframe from the start of 2018 until April 2018, there was general agreement that this is a fair area for AG to be in.
You can see then that the buyers got aggressive, pushing the price above that range, then sellers took over. Volatile!
I am expecting though, that this prior set of prices where tons of past volume had occurred between January and February to function as a magnet, pulling the stock back into that area between $3 and $3.55 where buyers and sellers had a general agreement that the price was rather fair for a long period of time. I’ve seen this happen too many times to count!
We’ve seen the consolidation and bounce off of the red support line. If it makes it past the resistance of the $3 mark, I think it will firmly be back and forth into this $3 to $3.55 range again.
Also, this stock has experienced quite a haircut, coming down from the $4.10 range! It’s been cut in half! Long term believers are adding to their positions here. Those that had been on the sidelines…”the hidden Hillary” buyer who was kicking themselves for missing the prior move up are buyers.
Hopefully the selling is done and we are on our way up here.
That is my thought process for this trade.
What do you think of these trades? Would you have been a buyer on any of these? Seller?
We’ll see how things shake out. I imagine I’ll be out of all 3 of these active trades next week.
Follow along. 🙂
-Glenn
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