Trading Visa - V and a Nasdaq Buy Signal

Here’s a 5-minute chart of the buy signal on the first pullback of the Visa - V IPO yesterday. You’ll also see an entry for today that was taken on a trigger over the 4th candlestick high of 58.31. I used the low of the day as a stop. I could have used the prior pivot low, or even the all-time low of yesterday. It’s all based on your risk tolerance. Risk… defined as R = 1. Low of the day is 57.50. With some slippage, R = .85. From there it’s a matter of selling in partials 1/3 at a time.

The Nasdaq found that buy signal on the 60-minute chart I was looking for. What a surprise… the Nasdaq rallied 48 points and the Dow surged 261.

I really like these double-long and double-short ETFs of the ProShares family. When the market moves… they move. It’s frustrating when you buy a stock, and it just sits there as the market rocks. No worries about volatility with these ETFs.

I also really like this classic chart trading pattern.  I only have a few patterns I follow.  Learn when to trade them, and make money online stock trading over and over and over.  Sometimes simple is best.

Enjoy the long weekend.