APHA formed a large high 2 higher low two weeks ago which failed to trigger. Instead the bears formed a low 1 bear flag. However this is near the bottom of a large bull flag trading range, and a risky place to sell (large risk, low probability). Although the bears formed a gap around 11.25, and 9.25, they will more than likely be filled since prices are in a...
Lesson 4 Know what you want in the market Contrary to what most believe, successful traders do not actually trade constantly. Attempting to trade constantly leads to increased commission costs, random trading, and compound mistakes. In fact, successful traders spend most of their time doing absolutely nothing! How long does it take to enter an order? A...
QCOM reversed down from a parabolic wedge. The obvious bear target is below the 56 bull spike, making it a poor stop location. The bulls want to keep this gap open and defend the prior low around 49. A two legged correction is likely from the wedge before the bulls and bears will begin to buy again. (Bulls to re-establish longs and bears to take profits). This...
NBEV formed a high 2 bull flag last week which has triggered this week. Although the signal bar is a small inside bull doji, and the past 8 or so weeks have been in a tight trading range. Prices are also in the middle of a large developing trading range, making the probability 50/50. This decreases the probability of a strong breakout without a pullback first. ...
MJ formed a high 2 / wedge bull flag last week which has triggered. The bulls were able to keep the 32 gap open. However the signal bar is a small bull doji. If this week closes on its high it will increase the probability of a test above the 40 lower high and possibly a new all time high. This market is in a bull flag trading range so buying high is a riskier...
Bull breakout last week, but second leg up; risky place to initiate longs (high risk, low probability). Bears will soon try for a double top bear flag with July 25 swing high, and parabolic wedge. If the bears get strong close the low this week, prices will likely test the bull gap from May 10th. The bulls need to generate strong follow through above 8500. The...
The parabolic wedge bull flag failed to trigger last week. Instead the bears formed a low 1 sell setup. However this is a risky place to sell (large risk, low probability). The bulls will probably try to reverse this week up for a better second entry for the parabolic wedge, and a nested wedge. But the bull case is getting weaker as prices near the opening...
The high 2 bull flag from a few weeks ago failed, but the selling pressure is not that strong and is weakening (tails, micro double bottom). This week ticked above last week, triggering a second entry and EMA gap bar, but last week was a doji bear bar, making for a weak buy signal. If this week closes on or near its high, it would be a better signal. There are...
ACB formed a failed failure last week (wedge bull flag) off the EMA, with an outside bull bar. The bulls also kept the 7.75 gap open. Although there is a tail on the high of the bar, the bears will more than likely wait before selling again, and the bulls will likely get a test of the Mar 11 close, or a new all time high.
Bear breakout of TSLA, but increased and climactic selling last week and gap down this week. Likely a sell vacuum test of the $180 low. The $240 gap above will likely get filled over the next few weeks to months. The bears need a strong breakout below 180 and 140. Otherwise bears will start to take profits and bulls will re-establish long positions. What...
The high 2 micro double bottom bull flag has triggered from last week. The bears were unable to fill the $10 bull gap. Bulls likely to get second leg up from strong bull rally. They want a measured move up based on the spike or a leg 1 = leg 2 measured move. Prices will likely soon enter a bull channel. The bears need to generate strong selling pressure...
Bull breakout this week, second leg up; risky place to initiate longs (high risk, low probability). Bears trying for micro double top and double top bear flag with July 25 swing high, and parabolic wedge. If bears get strong close on low today, prices will likely test the bull gap from May 10th. The bulls need to generate strong follow through above 8500. ...
Lesson 4 Know what you want in the market Contrary to what most believe, successful traders do not actually trade constantly. Attempting to trade constantly leads to increased commission costs, random trading, and compound mistakes. In fact, successful traders spend most of their time doing absolutely nothing! How long does it take to enter an order? A...
Lesson 4 Know what you want in the market Contrary to what most believe, successful traders do not actually trade constantly. Attempting to trade constantly leads to increased commission costs, random trading, and compound mistakes. In fact, successful traders spend most of their time doing absolutely nothing! How long does it take to enter an order? A...
Lessons from an experienced trader. Lesson 1. Never scalp. Although scalping seems to be the most profitable and best method in today's market, it is certainly not. Scalping is the hardest method to achieve a consistent performance. High frequency trading firms scalp, but they have many advantages over the retail trader including direct access to exchanges,...
Lessons from an experienced trader. Lesson 1. Never scalp. Although scalping seems to be the most profitable and best method in today's market, it is certainly not. Scalping is the hardest method to achieve a consistent performance. High frequency trading firms scalp, but they have many advantages over the retail trader including direct access to exchanges,...
The Emini reversed down from a failed breakout of the all time high, and nested wedge reversal. There are trapped bulls who bought the May 3rd high who want out. Most bulls used the new high to take profits as the market is likely to transition into a trading range over the next few months or even years. However this does not mean the bulls will not get another...
The nested high 2 bull flag from a few weeks ago failed to get strong follow through. However the selling pressure so far is not that strong (small bars, weak closes, tails below). The bulls will likely try to form a larger high 2 and double bottom around the failed sell setup at $7. Prices are currently in a large $5 bull flag trading range, therefore the...