I could make it much more complex but I find that the less noise, the better I can trade as my mind is clearer and truthfully, keeping charts simple works, so why change it?
GOOG is a leader and fast moving high beta stock that looks set to move higher again soon, but a little consolidation of up to 5 days would be very welcome and very good for the stock.
We could see $680 tested and that could be a nice area to begin a long position from.
It would give GOOG the needed rest, hence power, to move to the next resistance level at $740.
As always appropriate stops are to be used since nothing works every time.
Hope this helps some see what I’m seeing, or clears some things up for some of you.
Until GOOG breaks higher, I have no problem watching it and waiting.
You can really make a huge returns focusing on the daily charts and just trading when proper setups occur. You DON’T need to trade everyday.