My morning planning session is great to discover common threads in the names I follow. Today I see a lot of names with the R3/PP setup we have written about in previous blogs. As I review each daily chart I also get a look at which names have been strong and weak recently adding to my conviction for each trade.
Yesteday we highlighted MOS and BRCM with levels of resistance to take advantage of and in both cases the levels were dead on. This ability comes from years of looking at charts and a full trust in the indicators that we use and teach. Both of these trades afforded great opportunity to make money but also had a small stop out point and therefore the reward to risk ratio was off the charts.