In this blog post I cover a couple of recent profitable trades placed. I will break down my entry and exit points. I hope you find this useful!
Seagate
I first looked for an entry on the daily timeframe. The MACD had just made a cross over. The market was in an uptrend. The RSI was not too high. Next I checked the ten minute timeframe for an entry point:
Same thing again – looking for an entry on the MACD indicator where the MACD and signal are about to cross and ideally they are below the histogram. In this case They were low on the histogram but not quite below the zero line. The RSI had taken a dip. I set my target for the previous hight of the trend.
Recent profitable trades – Apple
Looking foran entry point, the MACDhad crossed over, was below the histogram zero level and the RSI was low. I then checked the 10m timeframe for an entry point:
The MACD had just made a cross over. Iset my target for a bit higher than the previous high. The RSI was low and the market had started to uptrend (above the 200 period EMA). Sure enough the trade reached its target!
Copper
Again, I checked that the MACD was in a good place on the daily timeframe. I also checked whether I would have enough room to reach a decent profit target before hitting the resistance level marked on the chart with the red line above.
Then I checked the ten minute timeframe for an entry point:
I set the profit target on this one for just below the red resistance level marked on the daily timeframe. I waited for a MACD cross over and the trade reached its target shortly after.
For more great tips and advice on trading the stock market, please visit:
To watch me trade live please visit my patreon page here:
https://www.patreon.com/Traderpro8320
Finally, if you would like to receive a discount on the Trading View charting software I use, please click on the relevant link here:
https://www.tradingview.com/?aff_id=117138
Please note any subscriptions taken via my affiliate link with Trading View may result in me earning a small commission. However, I provide complete transparency on me using Trading View personally – I publish my success on the financial markets via my broker reports and any profits earned were done so by using my own Trading View subscription, so I genuinely do recommend them and have been using the Trading View charts for many years.