Do you know how to quantify price structure? It’s not a difficult concept at all, yet many traders miss the benefit of taking a moment to assess objective price structure in the context of a developing trend. Doing so allows you to assess objectively the next likely swing, and thus the most probable trading strategy…
I’ve been monitoring the changing structure in the US Dollar Index recently, and there is a very critical index level to watch that will signal an official, structural trend reversal on the larger frame. Let’s take a look at the current price structure and highlight the critical level that will objectively redefine the prevailing trend….
Traders in general are watching critical daily confluence support levels very closely this week – and so far the levels are holding into Friday. Let’s take a quick triple index fly-by check on the key daily support levels and plot out likely scenarios. First, the S&P 500: The main idea at the moment is that…
Google shares (GOOG) have fallen to a critical “make or break” price support level as seen both on the weekly and daily chart. Let’s take a look at the two-timeframe action and see what the current chart says about potential opportunities. Google (GOOG) Weekly: Cutting right to the chase, the flat 200 week Simple Moving…
If you’re unable to make it down to Dallas, TX for this week’s Traders Expo, don’t fret! The Expo is hosting live webinar events throughout the Expo, and I’m pleased to announce I will be presenting on “Trade Execution Tactics” during a live webinar session this Thursday, June 16th at 4:30 CST. Visit the following…
Switching gears for this week’s “Wednesdays with Wyckoff” series, Richard Wyckoff not only contributed insights into the trading community, but also the broader investing world. This week’s update focuses on Wyckoff’s Six Factors he used for selecting a stock to buy as an investment, and they are as follows: 1. The Longer Term Trend of…
While scanning the major Sector ETFs, a shelf of support (pattern) in the Energy ETF – symbol XLE – caught my eye. Let’s take a look at the current support level at $72 and then note a logical downside target if the key support level here fails to result in a rally as the next…
At the start of last week, I showed the “Arc Pattern” trendline boundaries that were forming at the peak of the intraday arc in gold prices, and this week, the arc continues right on schedule. Let’s take a look at the updated/current “Arc” pattern and then see where that structure takes us on the daily…
I’m seeing a lot of comments about Sina.com (SINA) stock, first with the run-up in share prices and now with the stellar retracement/sell-off phase underway. Let’s take a look at the current action and mix in a few important trading tips and lessons along the way. First, the “bigger picture” Daily Chart for perspective: Starting…
It’s time for another update in the new series “Wednesday with Wyckoff,” where I take a brief idea from the writings of Richard Wyckoff and apply it to today’s markets. Last week’s entry was a lesson – with colorful imagery – on a stock breaking through a resistance level. Today’s topic is on “Trading in…