An Afternoon Trade Here’s an afternoon trade in the S&Ps (ES) that set up wonderfully today. This is a common pattern we see on trend days. Trend days open at one extreme and close at the other. Today opened on its highs and closed near its lows. Trend days provide excellent trading At times, though, trend days that start in the overnight market seem to die out in … [Read more...]
Swing Trade
Swing Trade Here is a swing trade that had been setting up for the past few weeks. We discussed this in last Thursday night’s Deep Practice. Each week, we look at what we are anticipating for the coming week. As I noted in an earlier post this week, the weekly chart closed flat. Given the other considerations seen in the background, we were … [Read more...]
Free Webinar Today: Wyckoff Principles
Free Webinar Today: Wyckoff Principles We will be holding a free webinar today on Wyckoff trading principles. We will start at 4:30 PM ET and run about 35-45 minutes. We will look at recent market action in the S&Ps, Crude Oil, and the GBP-USD FX Cross. We'll see how Wyckoff principles played out in these markets across different time frames. Want to see how to use … [Read more...]
Locating Trades: Market Structure is the Key
Locating Trades What do you do in locating trades? Markets put in key levels of support and resistance, which can then be traded if the market revisits the area and the price and volume action are right. We give several examples of locating trades on this recent 5-minute chart of the S&P e-minis. Locating Trades on the S&P e-minis The previous day sold off … [Read more...]
What’s the Right Trade?
What's the Right Trade? What's the Right Trade? is a new offering at TradingPsychologyEdge.com. We take a close look at a chart in the video below and ask you, "What's the right trade?" Is it to go long, to sell short, or stand aside? Check out the video below and give your opinion about what you see and what to do in this trading situation in the comments section below. … [Read more...]
