TRADING DOJI SIGNALS

With all the bad weather lately, I picked up the old candlestick charting book and read a little. Just for giggles, I setup my charts to show me some DOJI's and found a couple of plays for tomorrow on the Daily chart. NFLX and SRCL to go long IF they open UP on Thursday.

SRCL has found support at the sma200 and NFLX stoch is oversold and turning.

Just something other than the grey sky to look at!

Hey, mtut, I hope you don't mind if I throw my hat into the ring. I certainly need practice in predicting stock movement. My trading is still inconsistent in that I win some and lose some. Thankfully my wins outnumber my losses. So, take what I'm about to say with a massive grain of salt.

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mtut
NFLX to go long if [it] opens UP on Thursday.

NFLX stoch is oversold and turning.

I can see what you mean about the StochRSI being oversold on the Daily and 233 charts. However, when I take a look at the smaller charts, I come to a different conclusion for tomorrow.



The 55 chart is overbought and ready to turn DOWN. The MACD histogram lines are getting smaller. MACD is starting to turn down and is below the zero line which gives it a bearish bias.

The 21 and 13 may go up a little bit, but afterwards I think they'll roll back down.

I think the stock may find a little bit of support on the 13 min chart's 50MA in the early morning as it rises to test the 21 min chart's 50MA and 55 min chart's 20MA. I think it may go as high as $22.50 but since the 55 min chart is in oversold territory, I believe the price will turn back around and fall down to test the recent low of $416.50.

I welcome your insights as to my analysis.

I just checked the NFLX open and apparently I was all kinds of wrong.

I bout pee'd my pants when I saw your "smiley face" at the end of your post :-)

I guess that's a good illustration of how much more influence the larger charts have than the intra-day charts. I thought NFLX would move up a little this morning, but nowhere near as far as it has.

C'est la vie. That's why I practice.

I bought a practice call on NFLX this a.m. and am currently up over $4. Plan to stay in until I see another reversal signal using the candlesticks and moving averages. Trying to lean to ride these plays out!

Did close a real money put on SO just now. Entered two days ago off the Daily chart DOJI that formed on 3/17. Bought the April 43 put for .36 and sold today for 1.00 almost 200% gain. I was afraid that the 200sma might provide resistance.

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mtut
Did close a real money put on SO just now. Entered two days ago off the Daily chart DOJI that formed on 3/17. Bought the April 43 put for .36 and sold today for 1.00 almost 200% gain.

Great trade.

Looking at NSC to head south with a DOJI on the daily. Transports have had a good run up and FEDEX announced negatives related to the weather.

MTUT,

Quick question. On your SO trade on 3/17, other than the doji, was there another entry trigger that you used? Just curious, thanks!

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Raleigh Trader
Quick question. On your SO trade on 3/17, other than the doji, was there another entry trigger that you used? Just curious, thanks!

The candle was some distance from the WMA(8) and stochastics were overbought. Keep in mind that I am just getting my feet re-wet with the candlestick thing. I read where you should look for the candles to hang around the WMA8 and if they should wonder away (ie gap) then look for them to move make toward the WMA8