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Paytience

$TSM Good of example of what not to tradeOne of the many things I need to work on is PAYTIENCE... waiting for a good set up and instead end up over trading (usually for a loss). TSM great example here - resting on 200MA as support ? Possibly. Recently rejected at anchored VWAP could imply a further move down. Middle of channel. Also bottom of wedge... etc Point is, right now no clear indication of wether TSM will break lower or higher to me so... DON'T TRADE. Paytience until bottom of channel or break of VWAP. Then reassess and make a trade if it fits.
NYSE:TSM
by FriscoTrades
IFMK and sensing possibilityPaytience is a hard virtue and can be a painful one when not executed in a timely manner. This is especially true when finding your ins and outs in the stock market. If one has paytience, then one can get their "pay" (hence the spelling ;) ). 05/09 Stock goal 29% winner in 24 days? Possible 11% winner in 24 days? **Shaded area is my target timeframe** Limit Buy @ $1.00, Limit sell @ $1.11 and/or $1.29 - Stochastic crossed hard north - MACD waiting to make a more drastic move north - Current Volume requires paytience - Candlestick patterns here are encouraging This $1.05 price seems the most agreeable in the last several trading days. Current volume is not good, but the price so far is holding by using the visual indications of the candlesticks. I believe entry into this trade is dictated when the price dips to the $1.00 price point, followed by bull volume. Volume holds the price up. Then, this stock needs to close above the 8 ema to indicate north movement. Let the candles, volume and Stochastic Indicator tell you what to do. *Let's see what happens* DISCLAIMER - I am not a professional trader. These are merely my thoughts and possible moves; i enjoy watching these stocks validate my process or slap me across the face lol. If you are in need of professional assistance with your trades, don't look here. I am not that guy.
ILong
by mrmaximo74