Profitable Ideas Each Market Day
LAST UPDATE:07/30/14 04:36 PM ET
Thin summer order books have encouraged algos to hunt down whatever supply pops up on the intraday tape. As an example, bulls buying the better than expected GDP report created fuel for Wednesday morning's selling wave.
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|Price moving against a strong trend rebounds sharply|
How Should You Trade The 7-Bells?
|High volume events print the future direction of price|
|Constricted price gives way to directional movement|
|Gap downs after strong rallies signal a trend change|
|Candles flag reversals in the next smaller time frame|
|Weak markets drop fast after rallying into resistance|
|Breakouts through a triple top signal major uptrends|
Morning Trader Archive Search
7-Bells are not stock picks! All site participants, please read: Important Advice on Trading Risk and Site Disclaimer
ON THE EDGE
Veteran trader Larry Pesavento points out a powerful tape reading tool called the "opening price principle". Through years of observation, he discov... More
TIPS & TECHNIQUES - Pattern Play
A good pattern never signals when to trade or when to stand aside. It points to a convergence of time and direction that should trigger predictable movement under the right circumstances. It's the trader's responsibility to formulate tactics that capitalize on a setup if it unfolds, and protect the account if it fails.
We're seeing a familiar Hollywood script play out with price chugging to new highs as internals, volume, and momentum run the other way.... More
The stock market indices had a volatile session with the FOMC statement today. They opened with a big gap to the upside, then came down in a 5-wave de... More
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