0Posted by Michael Glass on February 18, 2012 at 2:26 pm
How to use
Pivot Points for
Stock Market Trading
Pivot Points are technical indicators derived by calculating the average of a particular stock’s, forex pair or futures high, low and closing prices. Using pivot points as a trading strategy has been around for a long time and was originally used by floor traders. Pivot Points have become very popular with day traders because of their ability to identify support and resistance based off of the prior days price action. If price action falls below the pivot point, it may be used as a new resistance level. Conversely, if the price action rises above the pivot point, it may act as the new support level.
Currently, there are several different ways to calculate pivot points. Using some simple arithmetic and the previous days high, low and close, a series of points are plotted on a chart. These points can be used as support and resistance levels. The pivot level, support and resistance levels calculated from that are collectively known as pivot levels. You can find one of the popular sites used to help calculate pivot points by clicking here.
Some trading strategies used by traders utilizing Pivot Points are:
0Posted by Michael Glass on January 13, 2012 at 9:52 pm
How to
Identify and Draw
Trendlines on your Charts
A Trend in the stock market is the pattern of a stock to move in a particular direction. The best way to understand how the market fluctuates is to study trends. Keeping track of upswings and downswings of the stock market helps investors decide where to enter and exit their positions.
Day Traders have come up with many different ways to identify a trend. Some look at how moving averages are forming, others look at technical indicators that have been specifically created to identify trends and others–like myself–prefer to look directly at the price action on a chart.
What are the different types of trends?
A stock is in an up trend when the price is making a series of higher highs and higher lows.
A stock is in a down trend when the price is making a series of lower highs and lower lows.
A stock is in a sideways trend when the price is making neither a series of higher or lower highs nor a series of higher or lower lows.
Watch the video below to learn simple methods that can be used to draw any trend line in any market:
0Posted by Michael Glass on June 25, 2011 at 5:32 pm
Learn the Power
of Trading an
Inside Bar
An inside bar is a bar or series of bars which is/are completely within the range of the preceding bar, or , i.e. it has a higher low and lower high than the bar immediately before it. It may indicate a time of indecision or consolidation. The often occur at tops and bottoms, in continuation flags, and at key decision points like support or resistance levels and consolidation breakouts. The most logical time to use inside bars is when a strong trend is in progress. Volume on the inside bar should be noticeably smaller than that of the preceding bar since it indicates a more balanced situation.
0Posted by Michael Glass on June 2, 2011 at 7:52 pm
Learn How to Trade
Double Tops and Double Bottoms
The double top and double bottom are a pair of well-known chart patterns used by investors to identify potential reversals in an existing trend. After price action attempts to once again test and break a previous swing high or low, momentum has run out and the trend is reversed and a new trend begins. When you look at these chart patterns forming, they will often resemble what looks like a “W” (for a double bottom) or an “M” (double top).
Double Top
The double top pattern is found at the peaks of an uptrend and is a clear signal that the momentum is weakening and that buyers are losing interest. The pattern is considered to be triggered when the price of a security breaks below the support level.
Double Bottom
This is the opposite chart pattern of the double top as it signals a reversal of the downtrend into an uptrend. The patterns is considered to be triggered when the price of a security breaks above the resistance level.
For both the chart patterns, volume should be an important focus. You should look for an increase in volume when the security falls below the support level or above the resistance level to complete the patterns. The double tops and double bottoms chart patterns are strong reversal patterns that can provide trading opportunities.
Watch the video to learn how to trade double tops and double bottoms
0Posted by Michael Glass on April 30, 2011 at 6:18 pm
Forex Technical Analysis Video Update
for Saturday, April 30th
Here is our Weekend Forex Technical Analysis Trading Plan to help day traders to learn how to trade Forex Currency Pairs. 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. Then we look at the daily charts for the US Dollar, Gold and Crude oil. We then create a watchlist of currency pairs in low volatility state or setting up an inside bar. Finally, in our education spotlight, we will discuss how to develop a trader’s mindset.
0Posted by Michael Glass on April 30, 2011 at 6:11 pm
Learn How to use Moving Averages
in your Trading System
Moving averages come in various forms, but their underlying purpose remains the same: to help technical traders track the trends of financial assets by smoothing out the day-to-day price fluctuations. Moving averages smooth the price data to form a trend following indicator. They are an average of price over time. Moving Averages cannot predict price direction, but rather help define the current direction.
The primary purposes traders use moving averages are:
Identify the trend of the Market
Identify Support and Resistance Price Levels
Entry and Exit Signals
Many technical indicators are based upon moving averages
The two main types of moving averages that traders user are:
Simple Moving Average - calculated by adding the closing price of the security for a number of time periods and then dividing this total by the number of time periods.
Exponential Moving Average - A type of moving average that is similar to a simple moving average, except that more weight is given to the latest data.
Watch the video for more on how to use moving averages in your trading system:
0Posted by Michael Glass on April 22, 2011 at 5:38 am
Learn How to Trade
Support and Resistance
In the Stock market, the price is moved by excessive supply or demand. Supply is created by selling of traders with a bearish bias. Demand is created by buying by traders with a bullish bias. Support and resistance are key price levels where the pressure of buyers and sellers meet. When supply and demand are balanced, prices move sideways as bulls and bears slug it out for control.
Support is the price level at which demand is thought to be strong enough to prevent the price from moving lower. Buyers now believe the underlying investment vehicle is a good value and begin buying. The demand created by those buyers outweighs the supply and keeps price from dropping. Resistance is the price level at which selling is thought to be strong enough to prevent the price from rising higher. This time, supply is greater than demand.
Some key points to remember:
Support does not always hold and a break below support signals that the bears have won out over the bulls.
Resistance does not always hold and a break above resistance signals that the bulls have won out over the bears.
Support can turn into Resistance and vice versa
Being able to identify key support and resistance levels is an essential ingredient to successful technical analysis. Likewise, being able to determine future levels of support can drastically improve the returns of a short-term trading results.
Watch the video below to learn how to trade support and resistance
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