Trading Watchlist:
1. GFI – analysed:
2. SFM – analysed:
3. NATGAS – analysed:
4. WBA – analysed:
As shown above, WBA’s price action declined strongly as I anticipated.
Therefore, congratulation are in order for exiting this position early.
5. QQQ
My QQQ long limit order has been triggered, so let’s see how the market behave on Monday.
I re-acknowledge that as long as I have a stop-loss in place (with an intentional minimum amount of risk capital), then I do not have to concern myself with the outcome of my trade.
Learning Points
- GFI – even though the predictive quality of the parallel channel for technical analysis has recently failed in relation to the QQQ, SMCI, and other stocks and markets; it has still proved effective when assessing SFM, GFI, NATGAS, and the US10Y.
Next Actions
- Continue to perfect the use of parallel channels to assess the most likely direction of a stock or market’s price action.
- Consistently read through your latest trading book “Trading Price Action Trends” everyday.
