Trade of the week:
- Maven - Serge Berger
- Product - The Steady Trader
- Trading Style - Swing trading; mid/large-cap US equities & ETFs; high probability trades based on technical confluence zones (charting)
My Favorite Trade of the Week (technically last week though) comes from one of our expert swing traders - Serge Berger of The Steady Trader.
Serge bought $TWTR after identifying a confluence zone on the chart. He identified a technical price level where the stock had a high probability of breaking out to the up side.
So he bought 150 shares @ $35.13 on June 10th.
Serge then analyzed the position and explained the thought process to all of his subscribers ...
He included a chart in the blog post to teach his subscribers how to use the indicators he does, so they can learn to analyze on their own...
IMPORTANT - the next day (June 11th) Serge added 70 shares to the position after it went UP to $35.38. That's right - he bought MORE shares when the stock went up...
Why?
The chart showed evidence of increased strength with MORE buyers in the market (more buyers = higher price).
Many traders would add to a position if it WENT down (which is not always a bad thing) but what they don't realize is that a decreasing stock price = more sellers in the market.
And when you are long you want more BUYERS in the market ...
Since Serge has a shorter time frame on his trades, it doesn't take too long to find out if his ideas work or not.
This time around, he chalked one up for the good guys...
On June 16th $TWTR hit near Serge's initial target price (in this case $38).
He took money off the table and exited HALF of the position.
As you can read in ...
