Technical Trades
Technical Analysis applied to Stocks and Futures.

GOOG long

Free Image Hosting at www.ImageShack.usFree Image Hosting at www.ImageShack.us
Free Image Hosting at www.ImageShack.us
Free Image Hosting at www.ImageShack.us

GOOG sets up long at current levels with excellent reward/risk parameters.

Today’s intraday pivot is 398.43, just a little below the daily fuzzy C area and worthwhile as entry point; and I note price is sitting there right now :D (a little over it now as I type this).

475.11 price resistance is a logical target, which is 19% profit. For a great r/r ratio of 10 can risk 1.9% on the trade, and that’s $390.46 which offers more wiggle room on a test of price support from yesterday. But if you use yesterday’s low as a stop that’s only 0.95% risk which is great and r/r of 19!

The mouse is in the air dudes! Note: While failure of yesterday’s low (and hence the daily C) would be a bearish thing, the monthly C value is the more important one.

No Responses to “GOOG long”

Leave a Reply