A Good Practice Destroys ItselfWe take on a discipline to do something we don't naturally do or want to do. We set some rules that will be uncomfortable and ride out the restless energy.
Keep in mind that a good practice destroys itself, the whole point of a discipline is to get to the point where we don't need the discipline anymore. That is called transformation and it takes time.
By being consistent with discipline over time, the reactionary impulses begin to die down and you will find yourself more balanced. This is where true intuition can begin to show up.
At some point, you might see where one of your strict rules doesn't make sense for a trade and if you come from a balanced mindset, you can make a commonsense decision about it.
This kind of thing is testable if you have an objective method. You test your intuitive results against the objective method results. This is all a one step forward, 2 step back kind of thing and takes time to develop. If you're in a rush, this tells you you're not balanced and need to keep the steady discipline.
Shane
PARR trade ideas
PARR is basing and could be ready for a strong moveTHE CONSISTENT TRADES analyze PARR as a bullish /strong fundamental stock and therefore would be traded only in a long position.
PARR had strong two bull weeks behind itself. It found resistance at 28 and is basing now. It needs to continue consolidation on this level for the continuation of the future bullish move.
Volume is fine for now and it needs to consolidate on a smaller volume than the 20-day average on this level to continue the bullish move up. Also, candles should be not too big in drop.
It is above all major MA which is bullish.
RSI is way overbought and needs to cool down before the next leg up.
MACD is also overbought and has bearish divergences.
Overall: PARR is a very strong fundamental stock but at the moment is overbought therefore would not be traded right away if the blue dotted line would be a breakout. It needs to consolidate for some more time for a bullish move and to form the high base, bull pullback, or something like that. 8 days MA must catch the price for a healthy bullish move.
$PARR looks to be headed higherThe green trend line goes back to November of 2015. (if you zoom out you should be able to see). The green line has been long term resistance. After breaking thru purple and yellow trend lines, this stock is trying hard to stay above the last resistance line. If it continues to hold this resistance line as support, obviously it would head higher. If it doesn't hold this latest breakout, the purple and yellow line would be places to look for a bounce. This is a low floater (almost 59 million shares) and a short percentage of 6%.
$PARR ~ Correction in progress...As shown, majority of energy stocks are starting to correct. Looking into the future, we believe these companies will provide amazing opportunities. We expect barrels of oil to reach $300-400 a barrel by the end of the decade. Recommend tracking this sector very closely for amazing opportunities.
Possible room left for small profit The stock seems to have strong fundamentals but based mostly off the technical analysis there seems to be room to trade off the T-line and 3 EMA crossing. The scholastic shows overbought but it still appears to have room before the cross. I recommend a very quick trade if you enter long. This pattern also appears to be at a support level and according to the history of this stock may be entering consolidation. Vwap suggest otherwise because the price tends to attract to this line so be very careful if you buy and have a plan to exit.