A prepared trader is 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. This weekend, we take a look at how the charts look for SPY, QQQ, and XBI into the short holiday week! As we take a look at the Fibonacci levels on these charts, check out our recently published blog post about who Fibonacci was and how he came up with these levels! Click here to read the full story!
When it comes to trading, there are two main approaches to understanding what the charts are telling you and assessing what the market is going to do next. The first, fundamental analysis, focuses on economic data to assess how a stock or instrument price may be affected, and the second, technical analysis, uses solely charts to look at potential future price action.
If you’re a trader with an email address, especially if you have signed up to any alert mailing lists, you have likely seen endless services advertising penny stock alerts. They all make claims of amazing profits and minimal risks, but is penny stock trading really the holy grail you have been looking for? Well, penny stocks are not a holy grail, but they can provide many great lessons on how to deal with greed and a consistent system of taking profits and minimizing losses. The first thing to learn before anything though is the fact that there are many penny stock alert scams around and you really need to be careful when looking for a way into this kind of trading. The question is, how can you tell if penny stock alerts are real or just another scam? We are going to show you how to avoid the scams and make the most of the penny stock opportunity.
Prepare for trading: Week of July 16th, 2018
An Introduction to Chart Breakouts and Breakdowns
When it comes to trading or investing in the stock market, the only thing that is 100% certain is that nothing is 100% certain. By the time a stock starts to break up or down, it may be too late to figure out what has caused the move to profit from it. The likely scenario is that it could be a number of factors ranging from social sentiment, technical indicators, systemic risk, or even the actions of a big institution or, in some cases, a large breakout trading chat room. This post focuses on some of those variables at work when nothing seems to make sense.