New Trade Setup Twilio Inc TWLO | Breakout Play
The origin of the NY Method and my best advice for new traders.
Twilio Inc TWLO Stock Chart 6.20.19
Twilio traded above the $140 level and paused, generally that's a great sign for a continued move higher.
And that's what I'm game planning. Or I should say one of my scenarios.
The pause was fueled by the indecision over the FOMC interest rate decision. Most of the stock market paused. Today I'm looking for a “well-bid” day. If TWLO finishes the day with higher highers and higher lows, I'll look to get long tomorrow.
However, if the stock trades into an inside day, many traders will be trapped, and a decline and false breakout is likely. So yes I would consider a short sale in this second scenario.
If this type of “if-then” scenario building is new to you, welcome to professional trading. You MUST prepare scenarios. You must look at both sides of the market. I don;t typically trade the same stock long and short. I always look for order flow and follow it.
But this situation is unique. Like driving a car. Adapt to the conditions on the road.
Goldman Sees Fed Cutting Interest Rates in July and September
Goldman Sachs Group Inc. now expects the Federal Reserve to cut interest rates by 25 basis points in both July and September and isn’t ruling out the possibility of a bigger move of 50 basis points “if the news flow disappoints.”
bloomberg.com/goldman-sees-fed-cutting-interest-rates
Oil jumps 3% to $63 as Iran shoots down U.S. drone in Gulf
LONDON (Reuters) – Oil rose by more than 3% to above $63 a barrel on Thursday after Iran shot down a U.S. military drone, raising fears of a military confrontation between Tehran and Washington.
