TM: 5-16-07: Trade Setup

Cramer on “MAD MONEY” has been talking about Toyota Motors for the last 2 weeks!! Ok, so lets look at it.
Seasonal show that the bearish trend will end around 5/26.
Now for the analysis part. We are going to look at a lower timeframe i.e. 4 hour because a bearish trend has been occuring for awhile. If it is going to end, it will start at a lower timeframe. In the 4 hour chart, all indicators indicate bullish. Therefore, we are going to determine our entry value and start to trade this up to the various resistance values. Caution has to be taken because this may be a pull back instead of a trend change. This is why we are trading in the 4 hour time zone so our risk is minimized compared to trading in the daily timeframe.
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About the Author Manesh Patel