Thursday’s are a great day to observe how the final day of the week may close out by looking at the daily and weekly candle setup into Friday. As the markets have started 2019 with everything but a “bang”, more downside looks to be possible based on the current setup that has returned big downside within the current price channels.
A prepared trader is a generally a profitable trader, and Sunday is a great day to get ready for the week ahead by studying up from last week’s price action. In this weekend’s analysis, we take a look at the broad markets after some of the most volatile swings we have seen in many years on both the upside and downside. These types of moves bring back memories of the volatility seen in the financial crisis of 2007-2009. Will the New Year bring new capital into the markets or was mid-week move up just a dead-cat bounce? Happy New Year to all, we look forward to a very exciting 2019!
Of all the ideas and strategies that have evolved throughout the history of trading, the trend has been the one that has stood the test of time. It is unclear who first said it, but “The Trend is Your Friend” has become one of the most common sayings in trading today.
But what is the trend? How do we identify it? Most importantly, how do we use it to our advantage? First, we begin by looking at how we view trends and what they tell us about the markets.
Every Thursday, we perform an analysis of three tickers that are looking interesting into the end of the trading week. This week, we take a look at the massive moves across broad markets on Wednesday to see if this move is sustainable or just a dead cat bounce. After multiple days trading outside the lower Bollinger Bands (R), the multi-day selloff came to a very quick halt as some of the indices had their biggest daily gains ever. Continue reading to see the technical setups into the second half of the week!
TrendSpider is a charting platform that allows for the automation of different manual processes in technical analysis. One of the most efficient ways to go through your charts on the platform is by creating your own watchlist. Once the watchlist is created, simply go through your charts with all the main features already pulled up on the chart without having to do anything by hand. Take a deeper look in the video and step by step guide below!