Will the market turn this week?
Andy Tanner gives a short lesson on stock charts and the state of the broad market.
Duration : 0:10:1
Andy Tanner gives a short lesson on stock charts and the state of the broad market.
Duration : 0:10:1
http://FreeTradingVideos.com Sorry for late video tonight….. I explain my lame excuse in the video…watched Avatar the movie.
I re-added an old trendline too.
Duration : 0:4:3
http://FreeTradingvideos.com Broad markets dipped hard today having its worst slide of 2010 on as traders worried that lending restrictions in China could hurt the world economic recovery. Although most sectors were bad health care stocks fared fairly well again today.
Duration : 0:3:19
http://FreeTradingVideos.com Stocks were quite bullish today as traders entered healthcare shares on thoughts that a potential Republican victory in Massachusetts’ Senate race could slowdown President Barack Obama’s reforms and remove a threat to profits in the sector.
Duration : 0:4:55
http://FreeTradingVideos.com Stocks were bullish as commodities (energy) and financial stocks rallied. A report showed the manufacturing sector expanded for a fifth straight month.
Duration : 0:4:50
http://www.informedtrades.com/
A lesson on how to incorporate multiple support or resistance levels into a trading strategy for the stock, futures, or forex market to reduce the chances of being stopped out on a trade.
In our last lesson we looked at how many successful traders incorporate support and resistance into their trading strategies. In today’s lesson we are going to expand on this concept by looking at how many traders look for multiple support or resistance levels when placing trades as well as how many chart patterns incorporate this concept already, providing traders with areas in which they can place their stops.
As we learned about in our last lesson, when setting a stop many traders will find a level of support if they are buying to enter the trade or resistance when they are selling to enter the trade and place there stop outside of this level. When entering trades many successful traders will also look for trades which have few if any levels of support/resistance in the direction they are trading, but several levels of support/resistance in the direction in which they are placing their stop.
Chart example:
As we have also learned in previous lessons, one of the key reason’s why traders favor or recognize certain chart patterns is because they often times signal what is next to come in the market. What is often overlooked however about almost all of the most popular chart patterns, but perhaps just as important, is their ability to point out potential places where you want to place your protective stop loss.
As you can see from the below chart the head and shoulders pattern is a perfect example of this. By entering the trade on a break of the neckline and placing the stop just above the right shoulder of the pattern traders ensure that there are at minimum two resistance levels in between their entry price and their stop level if not more.
Chart Example
For patterns such as the triangle pattern which do not already incorporate this multiple support/resistance levels between your entry and your stop concept, it is often wise to find entry opportunities which provide these additional levels naturally in addition to the setup when looking at the chart pattern in isolation:
That’s our lesson for today. In tomorrow’s lesson we are going to look at another way traders use to set their stops: Indicator based stops so we hope to see you in that lesson.
As always if you have any questions or comments please leave them in the comments section below so we can all learn to trade together, and have a great day!
Duration : 0:5:11
Hey guys,
I just wanted to give you a quick update on what’s been happening in the markets over the last 2 days. Ever since we hit the 200 SMA Daily on the Dow Jones we’ve been consolidating in a low volume pull back. This can be potentially a bull flag, and today we saw the bulls pile in at support around 923 on the SPX (prior resistance becomes support). A continuation of the consolidation could happen over the next day or two until we hit the bottom of the ascending channel on the SPX, but we could start a new move higher tomorrow as well. I also look at GS today, which saved itself from breaking an ascending wedge. An ascending wedge does state that eventually we will get a reversal downwards, but you have to wait until the support is broken. The VIX on the other hand is moving in a descending wedge, and a break of that resistance would mean the start of a new move lower for the markets. In addition, I wanted to point out how the DUG (triple short energy ETF) was consolidating from the middle of the day yesterday in a bull flag channel, and broke out right at the end of the day, and so today’s move was very warranted!
Duration : 0:5:28
VISIT: WWW.STOCKTOCK.COM for intraday commentary Today we looked at the last week’s action and how shorting the stock market and buying cheap calls for protection is probably going to pan out very well. We also own JPM puts and SPY puts. We look at the longer term ramifications and how the charts are showing a lot of bearish patterns which can eventually take us to the 825-840 buffer zone and maybe even new lows down the road. While a lot of people think that this market is going to either move up or crash hard, we believe that the pace of the downtrend will begin very moderately but will speed up once the wedge support line is broken. We also look at the SPY, XLF, AIG and GLD.
Duration : 0:5:8
http://FreeTradingVideos.com This weekend edition trading report comes with a lot of technical analysis and is almost 10 minutes in length. Enjoy.
Duration : 0:9:50
http://FreeTradingVideos.com The markets close the week weaker in a choppy market. The $VIX spiked more than 20% closing out the week. Financials did the poorest too.
Duration : 0:7:6