1. INTC – INTC looks like it has now started a bearish price action structure on the 4 hour timeframe, so consider scaling into a short position if there is a good pull-back to the Tenkan and Kiljun – as the weekly timeframe Stochastic RSI shows that is now strong sell pressure from the overbought area:
2. US10Y – analysed.
3. US10 – analysed.
4. TLT – analysed.
5. RUT – analysed.
6. CMG – analysed: the price action has almost reached the first take-profit level.
7. FDX – keep an eye on the price action on the 1 hour timeframe, to see if it will now rally back up to the upside after hitting the diagonal trendline.
8. SOXX – still ranging on the 4 hour timeframe.
9. MARA – analysed.
10. BTC – BTC looks due for a slight pull back on the daily timeframe before any possible further upside. Therefore, hold back on adding additional capital to the MARA trade until you are sure that there is a strong likelihood that Bitcoin will continue its price rally.
11. BIDU – analysed.
12. TIGR – analysed.
13. DG – it looks like it is almost time (1 hour 20 minutes) to scale into DG in accordance with its 4 hour timeframe (keep a close eye on this for the next 4 hours):
14. USOIL – analysed: still ranging.
15. JETS – analysed: still bullish.
16. UAL – analysed: still bullish.
17. SFM – as per above.
18. WMT – as per above.
19. AXP – as per above.
20. COST – as per above.
21. PALL – analysed: price action still in no man’s land.
22. X – US Steel is still ranging.
23. XAUUSD – analysed.
24. NATGAS – analysed.
25. DXY – ranging: moving sideways on the 4 hour timeframe.
Learning Point
- Analysing the charts everyday has enabled me to, easily and automatically, group stocks or markets together when carrying out my assessment due to their inter-market relationships such as RUT and CMG… SOXX and INTC… US10Y, US10, and TLT… BTC and MARA… USOIL and JET, and UAL… and so on. This really makes the point that there is no substitute to analysing the markets every single day in order to accelerate the learning process.
Next Action
- Watch Gareth Soloway’s latest trading video to continue progressing your learning and trading experience.
- Assess the price action of DG at 6.30pm (GMT).
- Update new trading spreadsheet with latest losing or winning trades.
