Bullish Breakouts and Trend Continuity in 2017

Nov 29, 2017: 1:36 PM CST

In the heat of battle, it’s often helpful to raise your perspective to higher ground.

That’s what we’re doing here with the clear price patterns and breakout (bullish) phases in this strong, ongoing bull market in stocks.

Look Closely at the Bullish Breakouts and Resistance Levels:

From the beginning of 2017, the stock market carved a series of higher highs and higher lows, building the structure of a larger uptrend in motion.

I’m highlighting the resistance levels – mainly at 2,400, 2,500, and 2,600 Round Number Levels, and what happened NEXT when price broke ABOVE these levels.

In fact, these green highlights represent the forward progress in 2017.

If you’re surprised by this move, don’t be.  Look at the chart – this pattern keeps repeating.

The purpose of this chart is to highlight prior events similar to what we’re seeing now so we can have a roadmap to the future.

 

Continue Reading…

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Thanksgiving Two Week Trial Member Special

Nov 23, 2017: 9:58 AM CST

If you’re new to Afraid to Trade or have been wanting to check us out, I wanted to extend an offer to come on in and see what we’re doing!

Here’s your chance to step behind the public blog to a two-week trial of our membership site:

Two Week Trial

I’ll also add a few bonus items for registering and joining us during your visit with us.

Go ahead and register now – I won’t keep this offer on the open blog long.

Take advantage of this special limited opportunity window!

Corey Continue Reading…

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The Stabbing Bull Selloff November 15

Nov 15, 2017: 2:46 PM CST

As an intraday (or short-term) trader, we do best when we recognize repetitive price patterns and frame each trading day by what’s happened in the recent past.

For now, we’re seeing a stabbing bull gore the active bears intraday while price trades lower.

Of course, if you are an intraday trader, you might have NO IDEA that price is actually retracing or declining in a sell-off on the Daily Chart.

Here’s the pattern that keeps repeating:

 

From the peak near 2,600, SELLERS have actually been winning the WAR while BUYERS have been winning every single BATTLE.

In other words, price is indeed selling off from 2,600 toward the lower targets on the Daily Chart near 2,550.

While the Daily Chart is the recent short-term war, the intraday chart is each battle.

Note how price sells-off rapidly either overnight or right off each day’s open.

From there, buyers reverse course on a program/algorithmic V-Spike Reversal pattern which results in a bullish rally – even TREND DAY (style) – into the close.

It’s almost like Bears achieve victory in the darkness of night but are driven back by the Bulls when the warm light of morning emerges.

Are bears therefore nocturnal vampires?

Humor aside, this is the repetitive pattern that holds sway over our current short-term market.

Continue Reading…

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Webinar Lessons from 18 Years of Active Trading with Corey this Thursday

Nov 14, 2017: 2:11 PM CST

I’m so excited about this opportunity to share with you the lessons – good and bad – from my 18 years as a swing and intraday trader.

Our featured webinar with Mike at Futures.IO will take place this Thursday right after market close:

It’ll be both an introspective look at my trading journey – most likely paralleling your journey along the way – and will include specific lessons I’ve learned that I wish I knew earlier.

My goal is to assist you at whatever point you are currently in your trading journey by sharing what’s worked, what hasn’t worked, what’s important, and what’s not from my 18 years in the markets.

Go ahead and register now and grab a notepad!

Thank you to Mike and his team for this introspective educational opportunity and we can’t wait to see you there with us live!

Corey

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A Lesson from the V Spike Intraday Reversal Today Nov 14

Nov 14, 2017: 11:55 AM CST

Today’s intraday V-Spike Reversal gives us a chance to study the set-up to trade an intraday reversal and not get trapped on the wrong side of a rapid movement.

Let’s highlight the pattern and pinpoint the higher timeframe support level from which it logically developed:

Intraday V-Spike Reversal on Positive Divergences

Intraday V-Spike Reversal on Positive Divergences

A large gap-down often suggests the early development of a Trend Day.

However, it’s important to take higher timeframe levels – especially key price targets – into consideration before joining into the trending action.

Yes, price gave a valid short-sell bear flag opportunity on the first pullback but price achieved its downside support target as seen on the intraday chart:

Higher Timeframe Key Support (Price) Level

Higher Timeframe Key Support (Price) Level

The 2,565 level was a “Double Bottom” price level from which buyers intervened and rallied the market higher on two occasions – November 2 and 9.

With the downside objective achieved, we turn our attention to the real time data from Market Internals (TICK) and Momentum.

As we can see in the first chart, BOTH metrics formed an obvious/visual Positive Divergence at the higher timeframe target.

Once again, buyers intervened today, thrusting the market higher and giving bulls another chance to profit from a “BUY THE DIP” scenario.

Bears… they didn’t fend as well if they missed seeing the support level and missed the positive divergence as it occurred in real time.

Keep studying this event and apply what you learn to future scenarios like this. Continue Reading…

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