All,
I wanted to share some of my favorite chart setups for next week. As usual, key horizontal levels that have acted as support and/or resistance in the past are highlighted. These are all long ideas so price needs to be above these levels for me to consider as a long. Stops can then be placed slightly below these levels to manage risk. The first thing I look at in pulling up a chart is where I’d get out if price moves against me. To be considered a good buy, I look to enter somewhat close to these stop areas so I know going into the trade what my potential loss would be and to ensure it is not large. Here’s the charts:
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