Another trade we entered today was in PRAXAIR (PX). Heres why we like this bullish position for a nice swing trade:
1) OVERALL MARKET STRENGTH - The overall market looks phenomenal after a strong move the last couple of days and looks to move to new highs.
2) SECTOR STRENGTH - The industrials sector itself is looking phenomenal after today's move. You can see the great setup in the Industrial Sector ETF XLI.
3) Breaking out of consolidation - This stock has consolidated for for a little while and now looks ready to move higher. There is a squeeze on the 1 hr chart which is one of my favorite setups to trade.
We will see what this trade bring in the coming days!
SPY. DIA. QQQ. IWM.
SPY
DIA
QQQ
IWM
1) OVERALL MARKET STRENGTH - The overall market looks phenomenal after a strong move the last couple of days and looks to move to new highs.
2) SECTOR STRENGTH - The industrials sector itself is looking phenomenal after today's move. You can see the great setup in the Industrial Sector ETF XLI.
3) Breaking out of consolidation - This stock has consolidated for for a little while and now looks ready to move higher. There is a squeeze on the 1 hr chart which is one of my favorite setups to trade.
We will see what this trade bring in the coming days!
SPY. DIA. QQQ. IWM.
SPY
DIA
QQQ
IWM
Trade closed manually:
EXITED FOR A LOSS AT $151.47. Once it cleared that base to the downside it was time to exit.
