Many times traders fall in love with stocks. They feel as if they actually are a part of a club or organization. This is very far from the truth. The traders motto is ‘stocks are for trading not...
Read MoreOften when stocks or indexes fall there will be good support levels for bounces. Therefore, you want to look at multiple time frames and have a chart that goes back several months to find intraday trades and possible 1-2 day...
Read MoreIf the dollar pulls back watch the 102.15 level as gold should get a pop. This is not bad action for the GLD today as the dollar is strong and it usually trades inverse to gold.
Read MoreOften most stocks and indexes will reverse or pivot from thier initial move around the pivotal time frame. The first of these major pivotal time frames is the 10:00 am or first half hour of trading. While this...
Read MoreThe key to the M-A pattern is to see the formation and recognize what makes it in play and what negates it. This M-A pattern played out for the prime reason that key rules were never broken. We will unveil this to...
Read MoreThis morning the SPY sold off after 10:00 into support at 107.50. Note that the bounce candle formed a long tail. This often tells us that the SPY may continue to move higher. It is very important to watch for an increase...
Read MoreThe USO recently broke out above the $40.00 resistance level on the daily chart. Today it pulled back to the $40 level intraday and then began to trade higher again. All oil did was simply backtest the breakout range. Many...
Read MoreTRADE LESSON: Watch for stocks that have had a multi-day rally. It is important that they are very extended from the 60 minute 20 moving average. Look for a strong gap higher to start the day into a past resistance level or a...
Read MoreICE HAS HAD A NICE MOVE HIGHER OVER THE PAST WEEK. THERE ARE MANY SPECULATING THAT THE ICE IS A TAKEOVER CANDIDATE. IT HAS PULLED BACK INTRADAY AND SHOULD HAVE SUPPORT AT 104.35. THIS LEVEL COULD BE A BOUNCE AREA...
Read MoreBIDU is having a solid move higher trading over 5 points higher on today’s session. Just notice on the 60 minute time frame BIDU was trading down to the 60 minute 200 moving average which is support. However, the key...
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