{"id":34661,"date":"2013-12-16T11:19:31","date_gmt":"2013-12-16T16:19:31","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=34661"},"modified":"2023-05-23T16:36:19","modified_gmt":"2023-05-23T20:36:19","slug":"studying-price-patterns-apc-and-rh","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/studying-price-patterns-apc-and-rh","title":{"rendered":"Studying Price Patterns: $APC and $RH"},"content":{"rendered":"

***Editor\u2019s note: Jake Huska is a college student working on his trading game. At SMB we believe traders should start working on their trading game early, just like pro athletes. Jake\u2019s posts reflect a better journey toward becoming a pro trader for the college student with a passion for trading.***<\/em><\/p>\n

As a trader I am more concerned with price patterns and how they apply to different stocks as opposed to falling victim to the financial media\u2019s scripted \u201cwarnings\u201d of an impending market crash. There\u2019s no accountability of making such bold market predictions, but I digress. While it\u2019s important to know what kind of stock you\u2019re trading and how the stock tends to move (momentum\/growth stocks vs large cap stocks), human emotions such as greed and fear are universal and are not only expressed in a stock\u2019s price pattern but the price patterns of all asset classes.<\/p>\n

Two stocks that recently exhibited very similar intraday price patterns were Anadarko Petroleum (APC) and Restoration Hardware (RH). Both stocks were gapping down on above-average volume and therefore were In Play. Despite their initial gap down in the post market, both stocks had an opening move higher and showed signs of bouncing intraday. Following their initial move higher on the open, both stocks consolidated and then moved higher off of these levels. Later in the day, they each pulled back to their early morning consolidation levels and offered low risk entries to catch a second up leg. Buyers stepped up again, and both stocks closed at their highs.<\/p>\n

Five-minute intraday chart of APC (12\/13\/13):<\/p>\n

\"$APC<\/a><\/p>\n

Five-minute intraday chart of RH (12\/13\/13):<\/p>\n

\"$RH<\/a><\/p>\n

I don\u2019t make predictions. I find high probability setups with low risk and potentially high reward, and I execute. Perhaps this is an oversimplified explanation of my trading style, but I want to emphasize my belief that paying attention to a stock\u2019s price action and the many price patterns that are seen in the market is a more viable strategy than turning on the television and being struck with fear about the \u201clooming market crash.\u201d<\/p>\n

Thank you for reading. Please let me know if you have any questions or comments.<\/p>\n

StockTwits: @MarketPicker
\nTwitter: @MarketPicker
\nJake Huska<\/p>\n

Related blog posts:
\nReversal Rehearsal<\/a>
\nWill Support Hold or Fail?<\/a><\/p>\n

No relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"

***Editor\u2019s note: Jake Huska is a college student working on his trading game. At SMB we believe traders should start working on their trading game early, just like pro athletes. Jake\u2019s posts reflect a better journey toward becoming a pro trader for the college student with a passion for trading.*** As a trader I am more concerned with price patterns … Read More<\/a><\/p>\n","protected":false},"author":1041,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2909,1,1532,7],"tags":[1087,1448,3636,3635],"class_list":["post-34661","post","type-post","status-publish","format-standard","hentry","category-college-students-programs","category-general-comments-2","category-guest-blog","category-reading_the_tape","tag-apc","tag-price-patterns","tag-rh","tag-studying","no-post-thumbnail"],"yoast_head":"\nStudying Price Patterns: $APC and $RH | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/studying-price-patterns-apc-and-rh\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Studying Price Patterns: $APC and $RH | SMB Training\" \/>\n<meta property=\"og:description\" content=\"***Editor\u2019s note: Jake Huska is a college student working on his trading game. 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