I went long today in Google (GOOG) despite the overall market being heavily bearish. The reasons were simple – the market gapped down significantly and usually after the first hour or so of trading there is a period of extended sideways trading to a possible bounce in the afternoon. Secondly, Google was testing the 200-day moving average, which bounced immediately off of the last two times it was tested.
However, on multiple time frames the Google Trade looked solid which solidified my reasoning to go long.
Daily: Perfect test of the 200-day Moving average and bounced just like I expected.
Weekly: Shows a larger uptrend in place that it is also being tested today. A huge plus.
Hourly: Shows a significant bearish wedge and extremely, extremly oversold – sold-off over -10% in just 7 days.
Welcome to Swing Trading the Stock Market Podcast!
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Commit these three rules to memory and to your trading:
#1: Manage the RISK ALWAYS!
#2: Keep the Losses Small
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How does war impact the stock market and what are the potential risks and hazards that impact traders attempting to remain profitable in their swing trading? In this podcast episode, Ryan Mallory covers everything managing the volatility that comes with the headline risk, dealing with heightened levels of emotions, securing open profits, and market exposure to uncertainty in the stock market.
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