Trade Ideas August 28, 2014
Today’s Swing Trade Idea
GALT (Healthcare Sector Drug Manufacturer) GALT is a chart setup that I call the “Pinball” strategy. It’s this particular strategy that personally took me from a want-to-be trader to a full-time trader. You may have heard me refer to this as my little ATM machine. GAL T has produced a bearish gap followed by residual selling and then buying. You can see the higher lows, and now price has crossed and closed over the T-Line as well as the 20-day simple moving average. With approximately 20% to our first target and then a possible 30% to the 50-day simple moving average area, GALT is a high-probability trade.