HIGH PROBABILITY TRADE
Energy Transfer Partners: 1 April 2015, Wednesday, 7.48am Singapore Time
One of the stocks from my Stocks Scanning Results (
http://finviz.com/screener.ashx):
Attached above is the chart of Energy Transfer Partners (NYSE: ETP) that is listed in the US Stocks Market (NYSE).
Red Flags in Chart and Table highlighted above.
The latest candlestick on resistance is very nice as well.
Note in addition the following:
Failure of this stock to rally on maximum positive Funds Flow of +10.000 on broad markets from January-2015 to March-2015: HIGHLY BEARISH
(Refer to Daily Funds Flow Analysis Worldwide)
Side Note:
NYSE: BBY is hybrid wedge, the price action is bearish in nature, especially with fake break up at $39.00 and price actions testing wedge resistance successfully.
First black line resistance (outer line) formed mini wedge only
It is the 2nd inner black line that forms the larger wedge because the 2nd line entrenched the price sweetly to confirm the bearishness.
Plus there was a bear flag past few days, one should never be looking to long it. See carefully in detail how the price actions interact with my line and u will know why these are powerful lines and formed a bear wedge.
Lastly, the wedge resistance band is a thick one, this is a strong, powerful, thick resistance of selling pressure.
Proper interpretation of charts with proper S/R lines is very important. Not just mere scanning and gambling after a scan.
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