Trading Watchlist:
1. GFI
Continue scaling into the GFI short as the price action has risen to such an extent that it has increased the odds that the price action will, definitely, return back to the top of the parallel channel.
2. SPY – analysed:
3. QQQ – analysed:
4. RUTS – analysed:
5. US10Y – analysed.
6. NATGAS – analysed:
Learning Points
- SPY – I should never forget to use the parallel channels for declining price action even when the parallel channel seems only partially formed.
In this respect, continue to prioritise watching “Verified Game Plan” and “Trading the Close” everyday in order to keep up your rapid trading progress.
. - NATGAS – US10Y – RUTS – Unless the price action reaches the upper or lower part of the parallel channel, then continue to stay out of a potential trade.
This will ensure that the majority of your trades are of the highest probability.
Next Action
- Watch today’s “Trading the Close”.
- Re-draw the parallel channel on the SPY chart.
- Re-draw the parallel channel on QQQ chart.
- Re-draw the parallel channel on RUTS chart.
