How To Trade In This Market 🤔
I’m not sure if you can have much of a strategy these days. Some days we’re ripping but when the “T” word get mentioned things tank but then there’s the whole TACO of it all and thing rip again. Not to mention FED rate announcements.
I’ve found that during these rollercoaster times the plan that seems to work is to analyze the charts and then put in limit orders based on those charts such that if they drop to the level I want, I get the stock at a good price.
Two order I added a few weeks ago hit this morning after the FED announced it was holding rates and the market dropped at opening bell. These two were $GOOGL (filled at $189.16) and $EVTL (filled at $5.76). These are long-term investment position, not swing or options trading ones.
If you’re looking for those, here’s a chart I marked up on Tuesday when $COST popped up on my under 30 RSI alert:
Here’s that same chart at the end of today:
Quality stocks under 30 RSI and the 200 SMA always seem to bounce back. If the Costco option premiums weren’t so damn high, I’d prolly grab some calls.
NOTE: If you’re new and aren’t sure what all those lines mean — start by reading the full trading masterclass 100% free here → https://spocktradez.medium.com/star-fleet-academy-5319cb9efbfc
Whelp, that’s all I got for today.
Trade long and prosper!
🖖
Sign Up for a Medium Membership: https://spocktradez.medium.com/membership
