What's the Right Trade? Answer What's the Right Trade? There were a lot of great answers to the chart problem posted late last week. This was a good discussion. I am really impressed with many of the traders' insights into the markets and ability to read the chart! Nice job! Here is my take on this chart and how to approach assessing a market like … [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...]
An Excellent Trading Day
An Excellent Trading Day You never know when the market gods will smile and you have an excellent trading day, but today was certainly one of them. It didn’t start as an excellent trading day, though. We held a narrow range off the US open that resolved in a Spring just after 10:30 ET. This is shown at A. The Spring was a nice trade as long as you didn’t get shaken out … [Read more...]
Santa Claus Rally?
Are the Charts Giving us Early Indications of a Santa Claus Rally? Santa Claus, or Father Christmas as they say in the UK, may be smiling early this year. In Saturday’s free webinar, we discussed IWM (the ETF for the Russell 2000 Index) on a bar-by-bar basis. We noted that IWM was showing strength, though it has been weaker than the other US indices (SPY, DIA, QQQ). Both … [Read more...]
Trader Challenge: P&F Chart
Trader Challenge How well do you know Point & Figure Charting? Traders may think that a point & figure chart is only useful to estimate targets of future price moves. While projecting likely targets is a valuable feature of P&F charting, it’s not all that they tell the savvy trader – not by a long shot! A P&F Chart can also tell you what the market is about … [Read more...]
