I describe trading candidates and possible action for selected, low-risk trade ideas to review.
Following up from my educational update on August 20th, the very same situation unfolded on August 22 with an even more powerful outcome. Let’s take a moment to see what happened and what we can learn from this similar situation: Please reference the prior “Example of Playing Popped Stops from a Failed Retracement” update from…
As traders, sometimes we learn more from failed trades than successful ones, underscoring how important it is to review your trades for as much information as possible. I wanted to highlight a great example of how to switch gears and adapt when price does something unexpected, which can lead to profitable trades in the new…
Though it’s been mentioned frequently on the news, the recent crude oil price breakthrough has been impressive on the charts as well. Let’s take a look at the current structure of Crude Oil and pay special attention to the breakout from consolidation/resistance, as well as the current “Open Air” pocket to watch. Here’s the Daily…
Let’s take a moment to view the Daily Chart of Gold, paying close attention to this week’s successful test/rally off confluence support which now ‘threatens’ a breakout above the initial resistance target. Here’s the Daily Structure of Gold: Officially, Gold is in a short-term SIDEWAYS trend with range boundaries between $1,600 (or even $1,550) as…
I wanted to highlight one of my favorite intraday trading “combo” set-ups that occurred twice on February 13th. It’s the “Retracement plus Dual Divergence” set-up that develops on all timeframes. Let’s take a quick moment to study this set-up as it appeared on the intraday frame and how we can apply it to other situations….
When you’re studying a price chart to assess trading opportunities, what is your eye drawn to first? Is it the indicators? Is it moving averages? How about candles? And when you are looking to put on a trade, are you taking a moment to address the context in which you’re placing the trade? Is it…
It makes sense that the broader market would pause to catch its breath after such a stellar October performance. That’s what’s happening at the moment as the S&P 500 consolidates/pauses in a sideways/symmetrical triangle price pattern. Let’s review the pattern and the current trendline reference areas and develop a game-plan of what to do with…
Mid-October gave us back-to-back examples of one of my favorite patterns and trade set-ups – that of the intraday trend reversal on clear positive dual divergences. We’ll be using the @ES Futures as our proxy, but this example extends to any index futures contract or related ETF (including the leveraged funds). Let’s take a moment…
Wow – if you missed the post-market action in IBM’s earnings announcement, you missed a huge move that took so many traders by surprise. While this post will focus mainly on key lessons from the charts, it’s worth noting that trading around earnings increases risk, especially if a stock’s earnings differ greatly from what’s expected……
What’s going on with Crude Oil at the moment? Let’s take a look at the Daily Resistance Level along with a “step-inside” perspective from the intraday chart. Let’s start with the prevailing Daily Chart trend – it’s a downtrend as evidenced by the progressive series of lower price lows and lower price highs, which is…