Discussion in 'Stock picks and trading strategies' started by John Kurisko, Apr 8, 2014.
$LUV is now $36.96 .Price Target Hit. Great HPS Trade.
Don't Want to miss this week's Watch List
This past week was awesome and I feel this week's picks are just as great if not better. A lot of the positions have been entered over the last couple days As i been talking about a lot of these stocks on the air and sending out the trade alerts. But i have some nice surprises and I feel the list is one of the great ones.
The Divergences are now becoming my goto set up. This is across both stocks and futures. Also because of the divergences these tend to move farther then the underlying pattern suggests. Things are good.
Most of my thoughts are on the video so it saves me some typing here. I go over some great examples of what we all need to be looking for. This video is important as they all are. and the Kick Ass Trade is out also.
Every Friday I am off the Microphone and researching for the next week's watch list and trade setups. This takes me all day and into the night to complete and chart out and to finally get it out to all the members of
www.daytradingradio.com. Also during this time i am able to focus on my es trading which is harder when i am trying to broadcast and run the show. Each week I have been sending out some of this work on the emini.
Discussing the setups, and HPS zones and if I see a trade I will take it. I would like the make this more of a weekly feature along with HPS watchlist. I will use this series to strictly point out every Ram in the Bush I can see happening on Friday and trade them. I will also do my best to discuss other HPS area's but not necessarily take them all as a trade. The Ram in the Bush in my opinion is to good not to pay attention to even if you don't trade this method.
So this is Video 1 of the series: I didn't record it like I was going to do this series so it is kinda raw and jumpy the next episodes will be produced better.
The Video is not edited My first trade actually got stopped out but I can see the set up and the set up was just a small running divergence. I got back in and got the trade then got pretty distracted and like I said its pretty raw. But it has a lot of core rules of trading the futures for myself and I was able to I hope get them across to you.
Have a great Weekend and See you Monday Happy Halloween
Importance of Falling and Rising Wedges in Trading w/ Examples
Fast update on why wedge patterns are my favorite pattern to trade. I will be following up with a more in depth video on the Wedge pattern in the School of Stock Series
Market update for Monday 25 2016
This up coming Monday I am seeing the 60 Minute stochastics as a small issue. In one way we need the 60 minute to show a very strong signal and being embedded for a few candles will help fuel the argument that the daily is starting it's cycle back up. Then we need to also respect the 60 as it has been steadily trending down on each rotation. Because of the Daily and the Weekly are in synch and look ready to start it's next higher phase I will be taking the side of this being a correction in a larger uptrend and a very healthy and needed one.
I don't like the 60 min here and "would like to see a gap up Monday to sell into and maybe increase a small hedge. The gap up would get us closer to some levels I like above for a true test of the market. I want to also work out what is that magic market level where everyone again switches to everything is perfect and we are going to new highs. I have a hard time believing that will happen soon but a small piece of me keeps saying i've seen it before.
Some Info on Wedges Patterns
This is a segment from Daytradingradio.com HPS (High Probability setup) video series and watchlist (Members) the charts associated with this video can be found there
at the end of this video there is a outlook for next week
Wedge Patterns: You can have 3 different wedges. First is my favorite to trade the Falling Wedge which has a bullish bias to it. The rising Wedge is just the opposite and with a negative bias and finally the symmetrical triangle which has no directional slope and no bullish or bearish bias on its own merit.
Lets start off with some great examples of what a proper wedge looks like. 2 Lines form this pattern and there is a few key points to look for. Not all falling wedges are equal and just like 1-2-3 Patterns over time you will get a feel for the angles of the 2 lines. In a falling wedge the upper downtrend line (resistance) and the lower (support) line are in a process to converge at a point in the distant future. This convergence should not happen and you want to see the lower support line at less of an angle to the top trend line The chart will play out with the stock making new lower lows but this penetration becomes shallower. Shallower lows indicate a decrease in selling pressure and create a lower support line with less negative slope than the upper resistance line.
Trading Patterns for close to 20 years has made me aware of some very profitable scenarios that play out in the market. One of these involves trading the falling wedge pattern. Once you think you identified a valid wedge pattern rising or falling (not symmetrical). Take the 2 trend lines that are slowly converging and extend those trend lines out till they meet. They break down the chart by placing a line at the beginning of the pattern and where the trend lines will eventually converge and then go back and but a vertical line right in the middle of the pattern representing the 50% mark. Now put a line between the middle and the end and that will represent the 75% zone. This is a excellent gauge on when and where the wedge will break out. The area is between 65%-75% in the wedge.
Try to take the trade closest to the lower trend line in a falling wedge and closest to the top trend line in a rising wedge.
Important to watch the stochastic here to as you want to see a divergence happen or at least get a good rotation back up and momentum to start gaining to the upside.
Falling Wedges: How to identify Them and Trade them
Market update 2016
Week before Christmas Outlook Plus update on Positions and What to trade
Week before Christmas Outlook Plus update on Positions and What to trade
Year in review from Day Trading Radio
The S&P 500 declined 5.1% in January; meanwhile, the Dow Jones Industrial Average declined 5.5%, marking the worst start to a year for the Dow ever
China's stock market dropped 7.0% alone on its first day of trading in 2016.
The meltdown didn't end when January came to an end either. The first half of February brought additional selling pressure that left the S&P 500 down 11.4% for the year at its close on February 11 -- and then the selling ended.
While the S&P 500 declined 0.4% for the month of February overall, it surged 5.6% from its close on February 11 to the end of the month.
Then up from there!
March was a huge month, producing a 6.6% gain for the S&P 500, which was followed up by a 2.7% gain in April, and a 1.5% increase in May.
June 23rd Brexit Vote
That vote proved to be a stunner as the majority of UK voters voted in favor of the UK leaving the European Union. That decision flew in the face of conventional polling wisdom and it triggered a knee-jerk sell-off that knocked the S&P 500 down 113 points, or 5.3%, in the two sessions following the result -- and then the selling ended.
Briefly, the stock market meandered its way through the months of August, September, and October with a somewhat negative orientation that was rooted in falling oil prices, a weak health care sector, and rising bond rates.
The biotech stocks in particular were hit hard as talk on the campaign trail of drug price controls clipped their wings.
Donald Trump stunned conventional polling wisdom and won the electoral vote. In turn, the GOP won enough seats to have majority control in both the House and Senate.
There were huge declines in the futures market on Election Night when results pointed to a Trump victory, yet there was even a bigger reversal in the cash market when trading began the next day.
The post-election rally was powered by the financial sector, which took off on a pro-growth trade that featured a steepening yield curve, and cyclical sectors that would be in a prime position to benefit from faster growth and rising inflation.
The final tally for the year is impressive
Next we start a new year... personally I feel this is the perfect time to be in the markets. there will always be some hiccups but we could have the makings of a multi-year rally starting from 2016..remember 2015 was our pause. I look forward to trading and discussing it with all of you.
Follow up on Spy Call trade +75% gain and New trade for tomorrow
Great trade based off the dual stochastic HPS setup and a sweet Lane divergence to help time second entry for another trade into tomorrow. www.daytradingradio.com $SPX $ES_F $SPY
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