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Trading Agrium (AGU) on Multiple Time Frames

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July 11, 2012 – Comments (0) | RELATED TICKERS: AGU

I've long been a fan of trading on multiple time-frames with daily being my primary chart-of-choice. As a swing-trader, I rely heavily on other time frames like the 30-minute for determining my entry intraday and then the weekly to see if there are any longer-term problems that are coming to the surface that the daily doesn't clearly show. 

I took a trade in Agrium (AGU). It doesn't have any flashiness/excitement to it, but it does show on multiple time frames how the bulls clearly have the upper-hand. As a result, I'm taking the recent weakness to establish a long position at current support levels with a tight risk and favorable reward scenario. 

Here's the daily chart:

Now take a look at its weekly.

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