Our Absolutely Correct Call on the Bearish Rising Wedge and Breakdown

Sep 9, 2016: 11:34 AM CST

In the September 8th Idealized Trades Report, I detailed the likely bearish pathway ahead with a discussion on a “Bearish Rising Wedge” pattern, the trigger, the target, and how to trade it – all for our members.

I wanted to highlight the analysis and outcome both from a teaching moment (pattern and outcome) and to show a sample of what type of analysis and actionable trading strategies you get as an Afraid to Trade Member.

Here’s the @ES Intraday Planning Page from September 7th’s member report:

The main idea is that price was compressing into a Bearish Rising Wedge pattern on negative divergences.

I’ll let the analysis speak for itself – the trigger was the breakdown under 2,172 and the target was 2,145.

I also publicly called out this pattern in yesterday’s Fibonacci Grid update (which I post each morning for free).

After a day of stagnation after price triggered a breakdown short entry yesterday, we’re seeing the fulfillment of the pattern – a collapse lower toward the target – this morning.

In fact, here’s what happened next – right on schedule and in textbook fashion:

Note the collapse we forecast from the pattern and the successful objective completed – and exceeded!

This is the type of education, analysis, and next-day planning you get as a member.

In honor of this spot-on accurate call, I’m eager to offer a free two-week trial to you (link here) to see if the membership will be of benefit to you as a short-term trader.

We also include strong/weak stock scans each day and do sector analysis as we plan the next trading day and week ahead.

It’s helpful for swing traders getting a sense of the broader picture and of course day/short-term traders in index futures, leading stocks, or ETFs.

Come check us out!  Become a member today or take me up on the two-week full access member trial.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Corey Rosenbloom, CMT Continue Reading…

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Another Three Push to a Reversal Example with Dollar General DG

Sep 8, 2016: 10:58 AM CST

I love spotting and trading a “Three Push” Pattern on a Daily Chart.

Why? It’s an easy-to-see pattern that develops over time and gives a high probability of a big win with minimal risk.

I posted last week about the “Three Push Pattern in Lululemon LULU” and the outcome.

Here’s another great example for you to study in Dollar General (DG) and Dollar Tree (DLTR):

Be sure to study the prior post on LULU and our definition of the Three Push Pattern in the Education Section.

After an uptrend took price from $70 toward $100 through 2016 so far, price started to stall at $96.00.

What factors preceded the August crash and reversal?

A lengthy negative momentum and volume divergence undercut the new swing highs above $90.00.

Eventually the classic “Three Push Pattern” developed as momentum declined and the stock ran out of steam.

The next move – as the pattern forecasts – was a crash back down toward where the pattern began.

As always, not all patterns work this perfectly but when they do, use them as educational examples in your growing knowledge and trading resources. Continue Reading…

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September 8 Pullback Plan for Emini Fib Grid

Sep 8, 2016: 9:27 AM CST

How low will our current pullback (retracement) go?  Let’s see!

Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:

Here’s a reference guide of how to use and trade from these morning updates.

In last night’s report I discussed for members the Bearish Rising Wedge – and we’re seeing the initial trigger break and sell-swing out of the pattern (join to learn more about how we’re trading this pattern and actionable strategy planning for the next day).

With price breaking down under the 2,173 level (and pattern trendline), we’ll be on guard and trading additional downside action that targets the lower retracment levels on our Fibonacci Grid above.

Want these levels and additional strategy planning in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Continue Reading…

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Emini Pullback Planning Fib Grid Update Sept 6

Sep 6, 2016: 10:03 AM CST

We’re still trading within a short-term range with tiny probes outside the key boundaries.

Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:

Here’s a reference guide of how to use and trade from these morning updates.

In simplest terms, we’re focusing on the 2,180 level and the 2,172 level.

Right now, these are roughly the intraday highs and lows and within the immediate Fibonacci Grid Levels.

Continue playing the “ping-pong” between the grid and prepare for the short-term breakout that may occur.

Want these levels and additional strategy planning in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Continue Reading…

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Three Push Pattern to a Reversal in Lululemon LULU

Sep 2, 2016: 9:26 AM CST

The “Three Push” Pattern is one of my absolute favorite price patterns to play.

Lululemon (LULU) – fresh off a bearish earnings surprise – gives us the most recent example of this larger pattern and teh powerful reversals that can “surprise” traders not aware of the bearish reversal pattern.

Let’s see it and study it:

The “Three Push” or “Three Drives to a Top” Pattern is a classic reversal chart pattern.

The main idea is that a trend – once established – has greater odds to continue until the weight of the evidence confirms a reversal.

Lengthy (multiple) negative divergences along with a stand-alone “Three Push” Pattern tilt the balance to the “reversal” side as opposed to trend continuity.

The main idea is that price “pushes” or “thrusts” (swings) up in three roughly identical impulses (I labeled them on the chart above) and then the buyers become tired and lose the supply/demand battle.

The build-up of negative momentum and volume divergences further increase the odds that you’re correctly seeing a Three-Push Pattern develop in real time. Continue Reading…

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