NOTE: My regular updates on market perspectives I now post ON TWITTER so that you can see them without any effort in real-time. On twitter I am “nanoparticle7”.
Welcome to stock trading, professional style. This site exists to tremendously accelerate your development and improve your results as a stock trader. Here you will find:
- Educational materials in the form of examples, alerts, market analyses, videos, and my new publication “Pragmatic Trading: Professional Planning, Modern Methods” (see below).
- Market analysis and real-time updates throughout the trading day.
- Example trades drawn from many markets and time frames.
- Excerpts from the book “Pragmatic Trading”.
- Real-time alerts throughout the day on set up stocks and the trigger levels of interest.
- Trading plan templates and example trading plans designed for your own usage and customization.
- Personal “live” coaching and education.
Broad Markets Update
Sunday May 31 2020
TLT looks like a giant, very large bull flag structure. Huge upside potential if ABC with A=C. Aggressive trade: take sold call spread stop at 127%/low. Conservative: wait for break of upper channel line of flag. Already in aggressive position. Build position on bullish action up/through.
GLD / GDX
Bullish flag type structure. More consolidating slowly rising in range? May have initiated fresh bull move of several weeks (3 days of upward motion). However, GDX looks like the move up is a B wave of a larger ABC. The move up off Wednesday key reversal candle has stalled under the 21 ema. I think caution is the proper stance here in GLD/GDX; too much risk of backing/filling, unless there is significant strength in the immediate short term daily action.
Commodities / GSG
Commodities have form a very constructive pivot low over the last 3 months.The most recent price action has already been over the most aggressive neckline, and another is around 10.2. Buying on some retracement over the next week is a reasonable strategy here, but best to wait. Price is up on the upper volatility band now on the hourly; let them come down to the 21ema at least for a buy set up.
US$ / UUP
A high quality buy set up is forming in UUP, with a sharp sell off out of a multi-month consolidation range. The total length of the last selling (top of range to current low) is approaching the sizes of the larger symmetric such moves; its time to be watch carefully for a pivot low and buy triggers. The monthly trend in US$ is strongly up; the 3 month of high volatility price decline is increasingly like to break and final pivot low to form; we want to catch that even if it takes a couple of tries now. I’ve already some uup calls. Looking to add more on clear buy triggers.
Bitcoin / BTC
Still consolidating and down trending UNDER the descending giant triangle trend line. Current several week correction off May highs looks incomplete to down side. The pivot low when it comes sets up a potential daily chart polarity shift to up on a move above the May highs. That is a place to speculate on GBTC. So we want to stalk this here very carefully for the next week, or however long this current correction (AB so far?) takes.
Russell 2000 / RUT
Out of sight strong. More upside possible. Violated 61.8%, tagged/stalled at Fibonacci fitted target. Needs a final v wave up to complete Y leg of WXY B wave? Looks rather like that. Targets at 1482 and then 1550 areas. No serious sign of this thing breaking its stride EXCEPT the fact of the levels. “Believe it”. And don’t step in front of it. When it stumbles, there will be some clear indicators with plenty of time to take advantage of the meat of the move. No short FOMO!!
Silver / SLV
Approaching completion of a 5 wave move up off the March lows, and perhaps just under the 100% retrace level for a pivot high. One to watch for a possible short late in the week.
Like RUT, tagged and pivoted at a Fibonacci fitted target last week. Touched the lowest edge of a wide high potential pivot band (3070 to 3157). Like RUT, perhaps one final leg up (again!) to finished the C of the ABC B wave up.
Nasdaq 100 / NDX
Key reversal bar on Wednesday, approaching 94.4% retrace level for 3rd time. A runaway freight train to the long side. But also approaching the completion point of the B (?) wave move (expanding flat possibility if it exceed 100%?).
Emerging Markets / EEM
Quite weak relative to primary US averages, still under the 50% retrace level of the A wave down, far away from the 200 day ma. Potential tag/pivot at the 50% at 38.29 as all the major averages complete their EW structure up in the next week or so.
Euro vs. US$ / FXE
At an extreme high and set up for shorting via sold call spread on a break of this move.
Professional Planning, Modern Methods
This book is a high power course in professional directional stock trading. Designed to remove the burden of the study of 8-10 different core stock trading textbooks by providing the essentials of a complete trading plan structure, the highest performance analysis tools and how to deploy them, and a broad set of specific “professional grade” entry and trade management techniques.
Pragmatic Trading is comprehensive, taking the beginner and the experienced trader alike through a complete trading plan appropriate for professional usage, and a broad set of tools and how to apply them in a complete trading plan for generating consistent profits with minimal risk. Revolutionary new analytical techniques are detailed. Extensive examples with detailed explanatory charts are provided, including specific trades per the trading plans.
- The theory and math of trading.
- The complete trading plan for rigorous and disciplined trade execution.
- Comprehensive tutorials on essential technical market analysis tools.
- Multiple trade setup and trigger models.
- Trade management: stop and profit exit techniques.
- Two fully specified functional trading plans.
The market analysis tools section is comprehensive:
- Candlestick charts
- Price swing lines
- Polarity analysis
- Price trend lines
- Support and resistance levels
- Price reversal patterns
- Fibonacci levels
- Quantitative trend
- Candlesticks patterns
- Range consolidation and expansion
- Volatility analysis and the volatility squeeze
- Symmetry analysis
- Fibonacci fitting
- Elliott wave analysis
- Market top analysis
- Cross market analysis
The book includes several revolutionary new analytical and trading planning technologies:
- Fibonacci Fitting (TM), a revolutionary technique for projecting market tops and turns from partial price swing data.
- The Morgan Visual Trend Indicator (MVTI), which measures trend purely quantitatively and provides extreme ease of use for trend assessment across time frames.
- MarketState, a multi-dimensional modeling tool for providing trade management controls and trade commitment controls for trade execution synchrony (“rhythm”) with the market.
The emphasis throughout is on achieving a positive trading edge, and trading in a disciplined manner using a comprehensive trading plan.
Review a complete Table of Contents.
Note: after purchase, you will receive an email with a download link for the text, which is (large) pdf file.
All charts in the book are duplicated at the end of the book, to enable ease of use in reading the text while looking at the corresponding chart, by opening the book in two separate reader windows.
COMMENTS FROM READERS:
“The book is well written and packed full of information. Very well done indeed!” = Peter H.
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