2 Comments on “6/18/11 Market Overview and Swing Setups”
ivan_angelbg
How you’re doing?
Great video, can you clarify next time though, what do you mean by “I don’t see clear entry”. For example PNC looks great short to me with couple of good entry points.
If the setup is good, isn’t break of resistance or touch of support (on the long site) good enough for you to enter?
Adam Grimes
Hi Ivan,
I am very particular about entries… in these videos I show the 30 or so stocks I will be focusing on during the week, and I will usually execute in 4 of them. Some of the reasons I don’t like an entry can be explained, but part of it is simply a subjective sense of what makes a good entry and what doesn’t. There are very few things that I will actually execute on… PNC isn’t quite there but i might feel differently about it tomorrow.
(re your last question: i NEVER buy a touch of support and rarely trade a simple break of support or resistance. i feel like this concept of support/resistance is one of the most overrated concepts in classical technical analysis. there are many more reliable and more tradeable elements of market structure and price action in my experience.)
2 Comments on “6/18/11 Market Overview and Swing Setups”
How you’re doing?
Great video, can you clarify next time though, what do you mean by “I don’t see clear entry”. For example PNC looks great short to me with couple of good entry points.
If the setup is good, isn’t break of resistance or touch of support (on the long site) good enough for you to enter?
Hi Ivan,
I am very particular about entries… in these videos I show the 30 or so stocks I will be focusing on during the week, and I will usually execute in 4 of them. Some of the reasons I don’t like an entry can be explained, but part of it is simply a subjective sense of what makes a good entry and what doesn’t. There are very few things that I will actually execute on… PNC isn’t quite there but i might feel differently about it tomorrow.
(re your last question: i NEVER buy a touch of support and rarely trade a simple break of support or resistance. i feel like this concept of support/resistance is one of the most overrated concepts in classical technical analysis. there are many more reliable and more tradeable elements of market structure and price action in my experience.)