Chart of the Day: Consolidation Near Bottom of Range in Corn Futures
Two things to note on this chart of Corn futures: 1) The clean failure test above the summer's highs, followed by a sharp selloff to the bottom of the range.…
Two things to note on this chart of Corn futures: 1) The clean failure test above the summer's highs, followed by a sharp selloff to the bottom of the range.…
This is potentially a very bullish pattern on the AUDJPY, targeting a move into the high 87's over the next several weeks. Trades should be entered on strength above the…
This video blog is a follow up from this post, and digs into some of the details behind the Failure Test trade in a little more depth.
[dc]I[/dc] want to do a small series of posts looking at some of the most important trading patterns I've used over the years. Rather than go in-depth with multiple examples,…
This is why we have entry triggers. I posted this chart pointing out a bear flag in EL on the day marked with an arrow, suggesting that a good entry…
I tend to believe it's usually counterproductive to do too much in-depth technical analysis on different market cap or sector indexes. Everything is so tightly correlated anyway, so differences often…
[dc]O[/dc]ne of the main challenges for stock traders is understanding the ebb and flow of the broad market on the shortest timeframes. There is so much noise in price movement…
The daily chart of Estee Lauder Companies Inc (NYSE: EL) shows a clear bear flag, which sets up a potential trade on any breakdown. Note that this is only a…
Longer-term patterns in the EURUSD are strongly supportive of a bearish trade, perhaps targeting parity or lower. This is an aggressive entry, but it is often possible to enter after…
Note the weekly bear flag on the S&P 500 index. You may call it by a number of different names (wedge, pullback, anti, flag, etc.), but the concept is the…
Watch DFS in a breakout above resistance (roughly 34.45 – 34.75.) Resistance levels are usually not clear lines, but rather rough "zones" where selling pressure has previously been able to…
Fourth principle: Price Action Around Support / Resistance continued from this post... and if you are just starting, go here and read the posts in order (from the bottom up.)…
A few lessons here from the daily continuous chart of Corn futures (it's worthwhile looking at the Sept contact along and considering the difference in patterns the roll creates, but…
Though I am leaning pretty short on the overall market, any time you have a large one-sided bet on the market, it's always good to have a "go to"…
[dc]O[/dc]ne of the longer-term trades I am watching is, what I believe to be, good upside potential in the USDCHF. Waverly Advisors caught a nice long a few months back…
[dc]T[/dc]his chart shows a potentially actionable short setup in the stock of SanDisk Corp. (Nasdaq: SNDK). Yes, this is a stock sitting "on support", but the tight consolidation right on…