A line with only two anchor points really just an ‘unconfirmed’ level on your charts.
The example above shows a trend line marked with two swing lows as the anchor points. It is an aggressive,
low quality way to go about it.
It is only really a catalyst which may turn into proper level – but at this stage it is just a pending line.
You can mark these pending lines if you think it is appropriate, and wait to see the line is respected again
but most of the time it is just going to clutter your charts, and skew your technical analysis.
The ‘trick’ to drawing quality lines is to use *3* clear anchor points… then you’ve got something worth occupying
the real estate of your chart!
If you want to learn more, i highly recommend you purchase my ownebook.the candlestick trading bible.
click on the link in my bio or send me a private message.
Thanks for everyone who took their time to come see me last evening. Hope you enjoyed the tips given and please watch for a good entry point to profit from it. For those who did not make it and want to get some hot action, comment below “I want tips”. I will get my team to conduct another event just to show how you can profit from the stock market.
Advanced Micro Devices Inc. (AMD) is as bullish as it’s ever been as analysts continue to increase their price targets on the popular chipmaker.
Analyst, Mark Lipacis, from the investment firm Jefferies, said HP will adopt AMD CPUs for up to 30 percent of its consumer PCs in 2019, and Dell is apparently also picking up more AMD chips for their systems as well.
AMD's new products will raise the chipmaker's gross profit margin to 45 percent in the coming years, exceeding the current 40.1 percent estimate for the company's fiscal 2019.
AMD competitor, Intel, continues to have supply issues which could result in a 200 percent gain in market share for AMD 🔥🚀💰📈
After recently announcing 3 new I-phone upcoming releases, Apple stock seems to have stayed constant. In the past, new releases would mean volatility and sell offs.
Does this mean that Apple is finally finding its ground as a solid value stock or is the volatility going to continue next year?
4 235 hours ago
9/21 - I did not have good capital protection management today... OKTA gapped up, but came back and hovered around close of yesterday for most of the morning. It took a turn to the downside and exited later than I should have.
CIEN is the one that hurt today... it gapped up at the open and had great volume. Was up over 50%. The candles on the 5 minute started showing tall wicks and closing with selling pressure, but were holding up. CIEN ended up busting below the 9 EMA and below yesterday high and close very quickly. I decided to hedge my position with a short which kind of saved me, but was an emotion radical move that I should not have done. So sour to be up 50% on this one and close with a loss.
LESSON LEARNED: on Friday’s when you get a gap open and the wicks get long. GET OUT and protect profits! We don’t need to be in that Friday FADE... I had a trade in AAPL that I saw long wicks on as well, but ignored them. Should have learned my lesson today, now I won’t be fooled on price action again.
1 145 hours ago
9/20 - After profits in AAPL and TSLA to start the morning, opened positions in CIEN and OKTA. Both had good volume in the close and after hours showed gapping up
That’s a wrap on a great week of trading 💸🚀!
I improved where I needed to, know where I can get better next week, and last but not least, made some money 🤑
DID YOUR TRADING GET BETTER THIS WEEK?!