Candlestick Patterns – Dark Cloud Cover
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Trading with the Right Expectations
One of the most common themes I see in emails is a tendency for traders to focus too much on the individual trade. Every day… "I can't believe this trade lost. Can you tell me what I did wrong?" Never do I get the following… "Looking at my longer term stats as they relate to…
3 Different Breakout Pullbacks… 3 Different Outcomes
Today we had three different breakout pullbacks with three different outcomes. The following charts show the trading timeframe first (one chart), followed by the lower timeframe detail (three charts, one per trade). A common question (although often appearing in different forms) is "but how do I know whether they will work or not?" Answer… I…
Sometimes a Free-Trade is Not the Best Option
A trade is termed a free-trade once the stop loss is moved to breakeven, as it ensures that there is no longer a downside risk to the trade; only upside potential. However movement of the stop to breakeven is not always the best option. If done too soon it can take you out of a…
Market Analysis Example – Narrow Range Sideways
I received an email this week thanking me for the Advanced Candlestick Analysis articles and requesting some more analysis of this type. If you haven’t seen these articles, check out part 1 and part 2 here: https://yourtradingcoach.com/trading-process-and-strategy/advanced-candlestick-analysis-part-1-of-2/ https://yourtradingcoach.com/trading-process-and-strategy/advanced-candlestick-analysis-part-2-of-2/ I’d love to do more of these articles, but they take quite a while to put together….
Panic – 6 May 2010
Volatility has returned – big time! I assume you’ve seen the results of the session on the news. But if you missed it, here’s the daily chart of the DJIA (Dow Jones Industrial Average) showing the drop which at one point had fallen just under 1000pts (previous close 10,868; today’s low 9,869.62): Impressive…
A Simple Alternative Means of Assessing Short-Term Bias & Market Strength/Weakness
I highly recommend spending some time every now and then just playing with your charts. Try something new. Or see if you can apply old ideas in new ways. Just occasionally, you may find something useful. Today I'd like to share a simple tool that I've been using for the last few years, alongside…