0Posted by Michael Glass on October 12, 2011 at 8:22 pm
How to Setup
your Technical Indicators
on your Charts
Technical Analysis is the predicting of future financial price action based on the review of past price movements. Similar to weather forecasting, technical analysis is NOT a guaranteed prediction about the future direction of price; however, technical analysis can help investors anticipate what is “likely” to happen to price action over time. Day Traders use a wide variety of charts and technical indicators that show price behavior over time.
Technical indicators look to predict the future price levels, or simply the current trend of price action. They do not analyze any part of the fundamental business, like earnings, revenue and profit margins. A Technical Indicator is a result of mathematical calculations based on indications of price and/or volume. The values obtained are used to forecast probable price changes. Many day traders utilize indicators as a way to time their entries and exits for trades.
Technical indicators can be found above or below the chart, and others are plotted on top of prices. The indicators help to predict where future prices are going and whether or not the stock is in an overbought oroversold condition.
Overbought: A technical condition that occurs when there has been a lot of buying and the price of the stock is considered too high and susceptible to a decline.
Oversold: A technical condition that occurs when there has been a lot ofselling and the price of the stock is considered too low and a rally in prices is anticipated.
Essentially traders use technical indicators for two things:
To generate buy and sell signals
To confirm price movement
There are two main types of indicators: leading and lagging
Watch the video below to learn more information on how to setup your technical indicators on your charts.
0Posted by Michael Glass on July 3, 2011 at 12:58 pm
Weekend Forex
Technical Analysis
Wrap Up
Here is our Weekend Forex Technical Analysis Trading Plan to help day traders to learn how to trade Forex Currency Pairs by identifying high probability trading setups. In this video, we discuss key technical analysis price levels for several Forex currency pairs. We look at each forex pair on multiple time frames to identify key support and resistance price levels. We also look at price levels to setup on various pairs based upon the current trend.
0Posted by Michael Glass on July 2, 2011 at 3:15 pm
Weekend Stock Market
Technical Analysis
Wrap Up
Here is our Weekend Stock Market Technical Analysis Video Update for Saturday, July 2nd. In each video update , we attempt to identify high probability trading setups for the next week. We also look at the key market moving events of the past week including Greece passing the austerity measures. We then pull up the charts to identify key technical analysis price levels for the S&P 500. We then look to see if some of the market leaders are pulling the market higher or lower (Apple, Amazon, Google, Goldman Sachs, Netflix and Priceline). We also try gain insight to the market’s future direction by looking at the charts for The Dollar, Gold and Crude Oil. Finally, in our education spotlight, we continue to look at what separates winning and losing traders. Today we look at how to gain control of your emotions.
0Posted by Michael Glass on June 25, 2011 at 1:53 pm
Weekend Stock Market
Technical Analysis
Wrap Up
Here is our Weekend Stock Market Technical Analysis Video Update for Saturday, June 25th. In each video update , we attempt to identify high probability trading setups for the next week. We also look at the key market moving events of the past week including the Greece Debt Crisis, IEA strategic petroleum release, FOMC policy announcement and Friday’s GDP #’s. We then pull up the charts to identify key technical analysis price levels for the S&P 500. We then look to see if some of the market leaders are pulling the market higher or lower (Apple, Amazon, Google, Goldman Sachs, Priceline and Netflix). Finally, in our education spotlight, we continue to look at what separates winning and losing traders. Today we look at how consistent and profitable traders prepare for the next trading day.
0Posted by Michael Glass on June 5, 2011 at 5:30 pm
Weekend Forex
Technical Analysis
Wrap Up
Here is our Weekend Forex Technical Analysis Trading Plan to help day traders to learn how to trade Forex Currency Pairs by identifying high probability trading setups. In this video, we discuss key technical analysis price levels for several Forex currency pairs. We look at each forex pair on multiple time frames to identify key support and resistance price levels. We also look at price levels to setup on various pairs based upon the current trend.
I want to thank ThinkScripter for putting together this TOS Bollinger Band Setup. You can check out his Website by clicking here for more great TOS scripts/studies
0Posted by Michael Glass on May 21, 2011 at 6:17 pm
Weekend Stock Market
Technical Analysis
Wrap Up
Here is our Weekend Stock Market Technical Analysis Video Update for Saturday, May 21st. In this video, we look at the key market moving events of the past week including the the buyout offer for Barnes & Nobles from Liberty Media. We then pull up the charts to identify key technical analysis price levels for the S&P 500. We then look to see if some of the market leaders are pulling the market higher or lower (Apple, Amazon, Google, Goldman Sachs, Priceline and Netflix). Finally, in our education spotlight, we look at the keys to developing a trader’s mindset to becoming a successful and profitable trader by utilizing trading plans.
0Posted by Michael Glass on May 7, 2011 at 9:29 pm
Weekend Stock Market
Technical Analysis Wrap Up
Here is our Weekend Stock Market Technical Analysis Video Update for Saturday, May 7th. In this video, we look at the key market moving events of the past week including a better than expected 1st quarter GDP. The we identify what to watch for this upcoming week like the Nonfarm Payroll Jobs number on Friday, May 6th. We then pull up the charts to identify key technical analysis price levels for the S&P 500. We then look to see if some of the market leaders are pulling the market higher or lower (Apple, Amazon, Google, Goldman Sachs and Netflix). Finally, in our education spotlight, we look at the keys to developing a trader’s mindset to becoming a successful and profitable trader.
1Posted by Michael Glass on May 7, 2011 at 4:21 pm
Top Ten
Candlestick Patterns
One of the best ways to gauge the sentiment of the market is to use Candlesticks. Day Traders use candlesticks to plot the open, high, low and low of a stock on a chart. Professional Traders then combine those individual candlesticks together to form chart patterns. The know that these patterns tend to repeat themselves and use candlestick chart patterns to help gain an edge in their trading. Candlestick patterns have become the single most accurate indicator of identifying the current state of price action for a stock or currency pair.
Here are the Top Ten Candlestick Patterns
1. Doji with Stochastics in Oversold Area
Followed by a Gap up is very Bullish
Not only was there indecision, but now there is enthusiatic buying
2. Bullish Engulfing with Stochastics Oversold Area
A chart pattern that forms when a smallcandlestick is followed by a
large candlestick that completely eclipses or “engulfs” the previous day’s candlestick.
3. Shooting Star followed by Bearish Engulfing Candle
is formed when the open, low, and close are roughly the same price.
Also, there is a long upper shadow, generally defined as at least twice
the length of the real body.
4. Shanghai Duo (combo pattern)
* doji
* inverted hammer
* A special Candlestick pattern which signals market reversals
5. Hammer
The Hammer is a bullish reversal pattern that forms after a decline.
In addition to a potential trend reversal, hammers can mark bottoms or support levels.
6. Shooting Star
The Shooting Star is a bearish reversal pattern that forms after an advance and in the star position.
A Shooting Star can mark a potential trend reversal or resistance level.
7. Bullish Harami
* Inside day
* selling has stopped
* Buying continues the next day
8. Kicker
* The Kicker Signal is the most powerful signal of all.
* It works equally well in both directions.
* Its relevance is magnified when occurring in the overbought or oversold areas
9. Hanging Man
The Hanging Man is a bearish reversal pattern that can also mark a top or resistance level.
Forming after an advance, a Hanging Man signals that selling pressure is starting to increase.
10. Dark Cloud
* The Dark Cloud Cover candle occurs after a strong uptrend.
* A bearish reversal pattern that continues the uptrend with a long white body.
* The next day opens at a new high then closes below the midpoint of the body of the first day.
0Posted by Michael Glass on April 30, 2011 at 9:28 pm
Stock Market Technical Analysis
Video Update
Here is our Weekend Stock Market Technical Analysis Video Update for Saturday, April 30th. In this video, we look at the key market moving events of the past week including a better than expected 1st quarter GDP. The we identify what to watch for this upcoming week like the Nonfarm Payroll Jobs number on Friday, May 6th. We then pull up the charts to identify key technical analysis price levels for the S&P 500. We then look to see if some of the market leaders are pulling the market higher or lower (Apple, Amazon, Google, Goldman Sachs and Netflix). Finally, in our education spotlight, we look at the keys to developing a trader’s mindset to becoming a successful and profitable trader.
