I’ve heard on television all day about the “surprise” breakdown in gold prices over the last two days. Let’s take a look at one of the classic signals gold prices sent ahead of the down move this week, as well as learn a lesson on momentum.
This morning’s price action gave us an ideal, if not perfect, example of how to trade a “Bull Flag” price pattern. Let’s take a look at the 5-min SPY and learn how to trade this powerful set-up.
Google (GOOG) formed an interesting pullback retracement to the rising 20 day EMA, forming a possible Bull Flag in the process – let’s look at it in more detail.
With the weakness in the US Dollar and strength in crude oil, the Canadian Dollar (and respective ETF “FXC”) have been rallying in a strong impulse up that may be setting up another low-risk opportunity into possible support. Let’s see it.
I wanted to point out a 5-wave Elliott structure and two bull flags that offered trading opportunities in today’s (April 21, 2009) intraday SPY structure. We started the day with a medium overnight gap which was quickly filled (small to medium gaps have greater odds of filling than large gaps), so that should have been…
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…
If you’ve ever wanted an easy, three-click method for price projection targets from what you perceive to be bull or bear flag set-ups, check out this simple method using traditional Fibonacci tools in TradeStation (similar in other charting packages with the Fibonacci Projection Tool). Let’s not discuss Fibonacci, but just the “100% Equal/Measured Move” of…
Wow, what a day Friday gave us in the markets. Let’s look inside the price action to see what potentially profitable trade set-ups occurred in the intraday structure of the major stock market indexes. DIA Dow Jones 5-minute chart: Price began the day with an opening gap down, given the bearish ‘trend day’ from Thursday,…
Financial stocks have been showing relative strength as of late during the recent market rally. I wanted to call attention to Prudential Financial Securities (PRU) to show a classic example of a Bull Flag measured move example worth nothing. Prudential Financial (PRU) Daily Chart: Price formed a positive momentum divergence on the July 15th lows…
Wednesday offered some interesting trade set-ups and opportunities that I wanted to describe from an educational standpoint, as the day showed a clear example of a bull flag measured move and momentum divergence… I also discuss Fibonacci retracements for added depth of understanding. With that said, let’s look at the DIA (Dow Jones ETF) 5…