Trading Watchlist:
1. PALL – analysed: continue to wait patiently to see what PALL’s price action decides to do; because it is still, clearly, in a strong downward trend on the 4 hour timeframe:
2. RUT – analysed.
3. BTC – analysed.
4. BTC.D – analysed.
5. SOXX – still sideways movement (ranging).
6. USOIL – USOIL has turned bullish on the daily timeframe, which should be good for my JETS, and UAL shorts?
7. NATGAS – analysed.
8. XAUUSD – analysed: gold is still ranging on the daily timeframe.
9. QQQ – still bearish on the daily timeframe.
10. UVXY – analysed.
11. US10Y – moving sideways now (at 4.5%) after a strong rise from 4.1%.
12. DXY – US Dollar rising strongly which would suggest that investors are exiting riskier assets (globally) in favour of running to the safety of the US Dollar (into cash).
13. SFM – analysed.
14. COST – analysed.
15. AXP – analysed.
16. WMT – analysed.
17. JETS – analysed.
18. UAL – analysed.
19. WBA – analysed.
20. DG – analysed.
21. INTC – analysed.
22. AMD – analysed.
23. MU – analysed.
24. X – analysed: ranging.
25. FDX – analysed.
26. CMG – analysed.
27. JPM – analysed.
28. BIIB – analysed.
29. TIGR – analysed: continue to wait patiently.
30. BIDU – analysed: continue to wait patiently.
Learning Points
- It really is all about staying out of a trade when the price action is not at any major (weekly timeframe) support or resistance level.
- It really is about assessing the price action in relation to the daily timeframe, everyday, and taking some profits (such as 50%) whenever it hits a major support or resistance level. This is because probabilities favour that there will always be a short-term price action bounce or retracement at these levels.
- Watching Gareth Soloway’s trading videos everyday really does accelerate my trading experience and development. Especially, in light of the fact that it truly is our daily actions which shape our precise future (12 Week Year).
Next Actions
- Watch Gareth Soloway’s latest Game Plan trading video to continue your learning process.
- Watch the latest Trading the Close to continue your learning process.
