Trading a small account. My goal is to profit by trading stocks that have been on a short term downtrend and demonstrate signals of reversing based on technical indicators including a bullish candlestick, oversold stochastic, and high relative volume. Volume is my number one indicator and I am only interested in trading a stock that has recently displayed unusually high volume. A potential stock that I am interested in must close above the 8EMA and then I will consider opening a long position on follow through above the high of that day. In effort to trade based purely on technical analysis, I look to avoid any potential catalyst such as company earnings release.
- Such an example can be seen here with SUN.
Update 1/1/18 – In addition to spotting reversal trends I am seeking to trade more high volume breakout patterns similar to LULU and TRP in 2017.