Some massive winners for us this week, including ROKU which I tweeted ahead of time, and several others that our members have been writing in to celebrate about!
Over the coming months I will be focusing on specific setups so you can hone your own style along the lines that produce consistent results. More about that in a moment and in today’s review.
Earnings is upon us from Monday, and the market is split between the leaders and the rest.
For the leaders, it is leaning toward a bullish earnings season, and for the others it’s mixed.
We had a most constructive OVI Private session on Thursday where I emphasized the importance of my approach, which is to identify behaviour from a price chart, rather than looking at it as a bunch of indicators and lines on a graph.
It’s one of the biggest mistakes most traders make in trading. They’re looking for squiggles, lines, angles, indicators, and all they’re really doing is causing confusion for themselves and analysis paralysis.
Instead, think of getting as close to the real action as possible. That means looking at a chart and interpreting what that real activity is.
Prices move greatest and fastest when big aggressive money is lined up behind a stock. It’s our job to identify big money already present, and big money which has good reason to be imminent. This approach can also work for bearish setups.
Many setups today to emphasise the point, but in future I’ll make it a bit shorter! Remember you can always speed up the play speed if you like!