March 02, 2019
What an interesting week this was. First off I want to say that I had a 100% win week. That is awesome! There was a lot of focus on BAC as it traded in the $20.20 - $20.60 price range. I was able to play BAC every day this week netting 5-10% gains per day. If you’d like to see the breakdown of BAC in greater detail I recommend reviewing this.
While BAC was impressive and fairly predictable I think the play of the week was AIG. I posted an article on AIG and how to successfully trade it. AIG was announced on Tuesday 02/26 as a swing and we sold on Wednesday 02/27:
When looking at AIG I saw this:
Looking at the stochastic on this close I could immediately tell it’s overbought. We also see the price touch a resistance line from the past. Combining this I know that if it breaks we should see a pretty steep decline. Here is how the morning opened:
This was a great open. From there we sold and captured our profits.
I didn’t get a chance to play around with my Heiken-Ashi Candlestick trading style that I wanted to get back to. The strategies that I am currently trading have been pretty successful in the choppy market we’ve been experiencing. However, I would really like to get back to the simple MFI/HA candle strategy as I believe it to be successful when day trading off the 15min candle.
Until next week.