Wednesday, December 14, 2011

WFM Trade Idea (short)

Here's a closer look at WFM,

 The 60 min chart, leading negative

 30 min leading negative

 15 min leading negative

 1 min in line with the fall.

 Here WFM has broken the 50 day, the 200 day is right below it, my first target would be at the 200 day if I entered this trade, I would watch for a break of the 200 day, if it happens, I stay short, if not, then I look at the stock again and see if I think it's worth holding (email me).

 I would use the 60 min Trend Channel as it has held swing moves well

For traders looking for a swing trade, then maybe tighten up the stop to the 30 min.

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