After a parabolic wedge and buy climax from July 18, the bears got a test of the start of the wedge in two legs down. This may end up becoming the first of a larger second leg down. Currently the bears have formed a double top bear flag and lower high. There is also a bear breakout gap around 392. The past few weeks and months have been in a tight trading range...
HEXO reversed down from a nested parabolic wedge, larger wedge and large low 2. The follow through selling has been good. The bears will likely get a second leg down before taking profits and before the bulls will look to buy again. This market is still in a bull trend, but wedges often lead to two legs sideways to down, convert the market into a trading range...
The buying pressure has been strong over the past few months on a test of the all time high. But this market is still in a large trading range, and the buying pressure is climactic. This is more likely a buy vacuum test of the high of the range than the start of a strong bull trend. Instead, there will probably be profit taking around or above the all time high...
Although $ZYNE is developing some bull strength, it is still in a large bear trend or trading range. The bulls reversed the market up on the monthly chart from a large high 2, and will probably get some form of a second leg up. However since the IPO this market has been sideways to down, decreasing the likelihood of a strong bull trend developing. The bulls...
The past few weeks have been sideways to down from a lower high, but weak selling pressure. The bears want the lower high to hold and to test the double bottom around $5. Prices are currently in a converging triangle and bull flag trading range as both sides fight for control. If this week closes on its high, it would be a wedge bull flag, double bottom...
So far this week is resulting in follow through buying from the wedge reversal which set up two weeks ago. However the weekly chart has been in a tight trading range, which decreases the probability of a strong breakout without a pullback first. The wedge is likely to lead to two legs sideways to up, even if only small. The first bull target is the 1.18 double...
The Art of the Flow Anyone who has been in the trading world for very long has heard you must "flow" with the market. Many people say it, but do they actually understand what it means? Can they truly accomplish this in the market or are they just speaking figuratively? Anyone can look at a chart and say "do this or that" or X happened because of Y, or say "I...
The Art of the Flow Anyone who has been in the trading world for very long has heard you must "flow" with the market. Many people say it, but do they actually understand what it means? Can they truly accomplish this in the market or are they just speaking figuratively? Anyone can look at a chart and say "do this or that" or X happened because of Y, or say "I...
The Art of the Flow Anyone who has been in the trading world for very long has heard you must "flow" with the market. Many people say it, but do they actually understand what it means? Can they truly accomplish this in the market or are they just speaking figuratively? Anyone can look at a chart and say "do this or that" or X happened because of Y, or say "I...
The bulls have been strong the past few weeks, with four consecutive bull bars closing on their highs. This is strong buying pressure, although still within a trading range. Even though prices are within a trading range, the first reversal down is likely to fail and the bulls will likely get a second leg up. So far this week is stalling, but there is a tail on...
TSLA so far is stalling this week, and is at least temporarily finding support. This is when the bears need to be the strongest. The selling over the past three weeks has been climactic, and is more likely exhaustion (sell vacuum) than bear acceleration. The bulls want some form of a double bottom around the 175 swing low. If they get one, they will likely get...
Lesson 9 Trading Psychology is Important When you look at the market you should see your self. The market is a collection of buyers and sellers. You are a participant in that marketplace, and therefore you are the market. How can you understand the market without understanding yourself? The mental landscape of a trader is extremely important and very valuable...
Lesson 9 Trading Psychology is Important When you look at the market you should see your self. The market is a collection of buyers and sellers. You are a participant in that marketplace, and therefore you are the market. How can you understand the market without understanding yourself? The mental landscape of a trader is extremely important and very...
Lesson 7 Trade Outcome is Random The outcome of any given trade is random, no matter how strong your edge is. It is impossible to predict whether a trade will result in a loss, decent profit, or a windfall profit. Contrary to what most Price Action traders and price analysts believe, you cannot and will never be able to predict the market. Most amateur...
Lesson 7 Trade Outcome is Random The outcome of any given trade is random, no matter how strong your edge is. It is impossible to predict whether a trade will result in a loss, decent profit, or a windfall profit. Contrary to what most Price Action traders and price analysts believe, you cannot and will never be able to predict the market. Most amateur...
Overcoming Emotions Most traders want to "overcome" their emotions. They view thoughts and emotions as the enemy which prevents them from succeeding in the market. This is a false perception. Yes emotions and thoughts can lead to actions in the market, but they are impossible to remove. So long as you are human you will have emotions and thoughts. There is...
Overcoming Emotions Most traders want to "overcome" their emotions. They view thoughts and emotions as the enemy which prevents them from succeeding in the market. This is a false perception. Yes emotions and thoughts can lead to actions in the market, but they are impossible to remove. So long as you are human you will have emotions and thoughts. There is...
OGI is starting to turn down from a nested wedge this week. So far this week is a strong bear bar near its low and is close to filling the 9.75 bull gap. This gap is likely to be filled as it is more likely an exhaustion gap than measuring gap. The bulls have reached a leg 1 = leg 2 measured move up which has led to some profit taking (tails above bars). If...