If you see a potential Bull Flag setting up, do you know how to project the Profit Target? Let’s use Friday’s intraday action and the bull flag that set-up mid-day to learn how to find the price projection point of a Measured Move or Bull Flag. I described earlier how to use the Fibonacci Price…
It’s finally here! Dr. Brett Steenbarger’s much-anticipated new book “The Daily Trading Coach” or “101 Lessons for Becoming Your Own Trading Psychologist” is now available for purchase from Amazon.com (for only $30). This is the book most of us have been anticipating since the end of last year – it’s an extension of his daily…
Adam Hewison released a great video that touches on multiple timeframes, Fibonacci retracements (and current overhead resistance) and even the Elliott Wave Principle – all in a six-minute video! (clicking the chart opens Adam’s video page) Entitled “What’s Next for the S&P 500” Hewison begins by addressing current Fibonacci retracement resistance at 840 from the…
Earlier this afternoon, I updated Twitter followers to the Triple-Swing Negative TICK divergence that set-up into the noon highs and a few people requested that I show that on a chart. This post reflects the intraday action of April 2nd which shows a three-swing negative TICK divergence, three push pattern, and interesting Elliott Wave structure…
It seems like all eyes have been focused on the S&P 500 and what it’s been up to over the last few weeks. Let’s step inside the recent V-Bottom Reversal Formation that set-up and track the move on the 60 minute chart starting with the push to new lows and ending with mid-day April 2nd’s…
MEMC Electronic Materials (WFR) is forming a rather bullish reversal pattern that can serve as an educational example of how a Rounded Reversal forms, how the “Cradle” sets up, and how a multi-swing positive momentum divergence forms. Let’s see them. A higher timeframe chart will show WFR resembles Crude Oil (and USO) in terms of…
Earlier, I took a look at “Dow Jones Similarities Between Dow Jones 1937/1938 and Today” and then followed up with “The Resolution of the 1937 Bear Market,” both of which were high-traffic posts. Let’s take a special look now at the Elliott Wave structure as more price bars have developed since that report and the…
Gold prices are at a key support level, where just a slight push either way will lead to a breakout move. The daily moving averages and a key trendline hold the current price in the balance. Let’s look at Gold’s daily structure. A rising trend channel has developed off the October 2008 lows which carries…
Adam Hewison released two action videos this morning to Market Club members and I wanted to share those with you (with permission) . First, Adam discusses Crude Oil and asks, “Is the Move in Crude Oil Over?” He runs through the analysis on the New Market Club chart software and notes key Fibonacci retracement levels…
Trend Days are more common now than they used to, and so it’s a good idea to look for methods to be more profitable when they occur. Let’s look at how the TICK can be used to time entries into an established Trend Day. We could have suspected a Trend Day was forming early on,…