Friday, November 22, 2013

$WPX Chart and Trade By Anthony Calhoun

If you follow me on Twitter I posted an entry on this yesterday.  Today I took profit based on the hourly chart which is the same chart I entered on. If you see the first red line on the chart this is resistance 1.  The hourly chart is also at the Top Bollinger Band which is why I exited today for a 3% profit.  With the market at all time highs it's best to trade on hourly charts and make short term swings for me anyway.  I will look for another entry and like this stock for a longer swing to the correction level, or 20SMA.  I also love the daily chart and if I had better patience would not care to buy and hold for a couple weeks not paying attention to all the 5 minute and hourly swings.

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