What is a PBO? Is it a lead oxide? Is it a pension benefit obligation? Yes. In a trader’s world though, PBO stands for a pullback opportunity. A pullback opportunity is one of many patterns that a successful trader recognizes and executes.
TSEM (Technology Sector Semiconductors) TSEM is the featured trade idea and today I feel it should be featured because of the bullish trend that it has been in, the pullback that is finding support on the 50-day simple moving average with a double bottom, the last four days has formed a four-bar cradle pattern, not to mention that yesterday we gapped over a doji and closed over the T-Line and the 20-day simple moving average.
CHGG (Consumer Defense Sector Education and Training Services) Over the past few weeks, CHGG has printed a double bottom followed by a bull kicker that gapped over the big three. Recently CHGG has seen a little profit taking back to the T-Line for a PBO and is now trying to form a bullish J-Hook.
When you enter the trading world, you will find that there are many different strategies. It can be confusing until you figure out what type of trader you want to be. The process of determining what kind of trader you want to be depends a lot on your personality, time commitment, account size and skill level. In this article, we present an overview of day trading vs. swing trading so you can begin to explore what is right for you.
