I've had the chance to watch several videos of Oliver Velez speaking about trading. The guy is good, there's no denying that.
In one of the videos I watched he talks about when to buy and the "Picture of Power" which consists of a stock that has its candles above the 20ema and the 20ema above the 200ema.
I decided to apply that to my two current trades and this is what I got.
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| 5 day 15 minute chart |
$GLUU could be right out of his video with the candles above the 20, the 20 above the 200. That's good news for this stock.
But that said...
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| 5 day 15 minute chart |
You can see with $WPCS that during the major climb on Friday the candles were above the 20 and the 20 above the 200. Unfortunetly that all changed on Monday were the 20 crossed over the 200 and reversed itself. This honestly has me a little worried. They have their stock holder meeting today and there should be news about the Seattle operation sell off as part of that. If that's all good news then we may see buyers taking advantage of the massive dip and the stock rise and break past the $1.00 range... but if not, I may have just stuck capital in a blender.
Either way the freeride rule is in effect until Thursday/Friday.
Here's a couple of the videos I've watched from Oliver Velez.
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