There's been a long running debate between the technical analysis chartists and the fundamentalists and both sides can make their case for being "right". Both sides often think that their way is best and the other side is full of you know what...
Since no one can predict the future how did the recent Federal Reserve's hawkish position on interest rates that's filled the news just so happen to occur during a time when chartists like us were anticipating a potential pull back?
(This is an updated post to include recent news and recent charts because this scenario occurs over and over again...)
What I Like to Binge Watch:
- Billions (the hit series on Showtime)
- Shark Tank
- Blue Bloods (my dad is a retired police officer)
- Trading Education Courses...
Yes, Trading Education Courses!
See which ones...
The simple answer is I don’t. Nor, with any certainty does, anyone else.
“So what do you do” becomes the follow up question.
This article delves deep into the top reasons why traders fail and how you can overcome these challenges by focusing on your trading process of implementing trading rules, plans, and trading psychology rather than focusing on the outcomes of profits.
While the New York Stock Exchange (NYSE) was closed Monday in observance of Memorial Day the global after-hours electronic trading system (GLOBEX) opened as normal Sunday evening at 6pm eastern time. And given the US debt ceiling headline news over the long weekend the S&P 500 futures ticker /ES gapped up about 20 points on the open to keep the bulls firmly in control.
On the current ES weekly chart I've only marked it up with Support/Resistance and Trend. Also known as basic structure. In this view traders can see that price often ping pongs between historical levels before proceeding in its next direction.
If you'd like to enroll in the same exact Introduction to Price Action Trading using Support/Resistance and Trend course that I took earlier in my trading career we're offering it at an incredibly low price this week revealed at this link.
Navigating the Markets with Price Action Technical Analysis: Expert Tips for Successful Stocks, Options, Futures, Forex, Crypto, and Commodity Trading
Price action technical analysis is a popular and effective approach to navigating the financial markets, including stocks, options, futures, Forex, Crypto, and Commodity trading.
This article will provide expert tips and insights to help you successfully trade various financial instruments using price action technical analysis. By understanding and applying these concepts, you can improve your trading skills and potentially achieve greater profitability.
Instant Access to FREE Guide: 6 Fibonacci Types that Create the Most Precise Price Targets and Reversal Zones
Fibonacci, often referred to as “Fibs”, are one of the most commonly used tools in Price Action Trading for trending markets in helping create measured price movements which can assist you in creating bi-directional future levels of interest and anticipate trend reversal zones.
This free guide will explain to you exactly what Fibonacci retracements and extensions are and how they should properly be used on your charts.
Most Fibonacci charts that we see posted on the internet are not drawn or used correctly.
Based on institutional algorithms this Free Guide will explain to you exactly what Fibonacci retracements and extensions are and how they should properly be used on your charts.
By definition, a bear market is when price drops 20% or more from its recent or all time highs. So for the S&P 500 ticker /ES one could say that technically speaking the bear market is over because price is now approximately 15% off the all time high set back in October 2021.
But is the recent run up simply a "Bear Market Rally" or are the bulls firmly back in charge gunning for new all time highs? See this before your next trade!
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