Trading Watchlist:
1. BTC – analysed; currently in a strong bearish price action structure on the weekly and 4 hour timeframe:
So, at the least, wait for BTC to hit the next major support level before deciding what to do next.
2. BTC.D – intriguingly, BTC’s dominance is still continuing to fall. This would suggest that some traders are taking their profits from BTC and putting them into some Altcoins (further investigate this situation).
3. UAL – analysed.
4. JETS – analysed.
5. USOIL – analysed: still ranging.
6. SFM – analysed: still declining strongly.
7. COST – analysed: weekly decline still intact.
8. AXP – analysed: weekly decline still intact.
9. BIDU – ranging on the 4 hour timeframe so continue to stay out of a possible trade.
10. TIGR – TIGR seems ready for a limit order with the following specifications:
11. QQQ – analysed.
12. WMT – analysed.
13. UVXY – analysed.
14. INTC – analysed on the weekly timeframe.
15. SOXX – analysed: still ranging.
16. AMD – analysed.
17. DG – analysed: continue to analyse everyday on the weekly and 4 hour timeframe.
18. RUT – analysed: RUT most likely to continue declining on the daily timeframe.
19. FDX – analysed.
20. CMG – start scaling into a short:
21. WBA – analysed.
22. BABA – analysed.
Learning Points
- The price action really does seem to respect the long-term trendlines; therefore, they do act as a good method to place short or long trades.
- Trading in accordance to the weekly timeframe really allows entri
Next Actions
- Do not forget to monitor the price action of WBA everyday.
- Take major long-term trendlines more seriously for placing early high-probability short and long trades.
- Continue to watch Gareth Soloway’s latest trading videos, everyday, to keep up with your accelerated learning process.
