We all see the screens differently. However we all must see the screens as patterns of risk/reward opportunities that we can make our own. Below are 7 trades I might make in CCJ. Do you see your screens this way?

1) Premarket Breakdown Trade

Play the downside momentum until the stocks slows.

2) The Bounce

Let CCJ stop going down, hold higher, and then buy.

3) The Breakout or the Flag Pattern

Buy with the break above 31 for a breakout trade.  Buy into the consolidation for a Flag Pattern.

4) The Reversal Trade

Short when the pattern turns negative and hold till the breakout level of 31.

5) The Support Play

CCJ broke out from 31 so buy into the pullback.

6) Resistance Play

CCJ broke down from 31.80 so short into this level.

7) Support/Resistance Trade

Buy CCJ as it holds above resistance.

These are a lot of trades for you to consider as you trading this one stock.  For the intraday trader these are some of the patterns that I recognized.  You do not have to be in every trade.  Which patterns make the most sense to you?  But search for these patterns and see each trade as just a risk/reward opportunity.

Mike Bellafiore

Author, One Good Trade