3 Stocks Ready to Explode Today 6-10-20 | FOMC Meeting
Today's trading lesson focuses on creating a winning game plan.
You game plan is the list of stocks that match your edge. Once you have this list it's time to sit back and wait for good entries.
Great traders ONLY trade their game plan.
Struggling chart readers trade EVERYTHING. And that's why they never get paid.
Here's what you'll learn in today's video:
You game plan is the list of stocks that match your edge. Once you have this list it's time to sit back and wait for good entries.
Great traders ONLY trade their game plan.
Struggling chart readers trade EVERYTHING. And that's why they never get paid.
Here's what you'll learn in today's video:
- Scan major sectors or industry for obvious MTFA set ups: Trend or Pause?
- Identify the liquid stocks in those sectors and make note if they are similar to the sector chart. These stocks will go in your list for tomorrow.
- Which sectors were the strongest or weakest today?
- Which sectors have been the strongest or weakest this week? This month? This Quarter?
- Are they setting up a trade for tomorrow? A test, a flag, consolidation, or candlestick entry signal?
Trading Game Plan 6-10-20
Watch: Best Stock Picks Today
The stock market declined as profit-taking unfolded ahead of today's FOMC meeting but big tech stocks remained strong.
I generally don't trade heavy on FOMC announcements because I feel the trading volume gets too light.
The days following the interest rate decision however are typically very good because the indecision is out of the way.
AAPL stock, FB Facebook, and AMZN Amazon each closed on the highs showing solid relative strength.
AMD Advanced Micro Devices, Inc. exploded and set up a new swing trade, but only if it clears the 57 level.
A few "stay at home stocks" consolidated into one of my favorite trading setups.
3 Stocks primed to explode today: I'm looking for DOCU, SQ and ZM to produce large green candles today. If these stocks trade lower I plan to let them go.
A few recent winning swing trades are back in play as CAR, DISH and SWK need to open and push lower. If they do I'll be looking for a spot to buy.
Have a great day!
Pete
Watch: Best Stock Picks Today
The stock market declined as profit-taking unfolded ahead of today's FOMC meeting but big tech stocks remained strong.
I generally don't trade heavy on FOMC announcements because I feel the trading volume gets too light.
The days following the interest rate decision however are typically very good because the indecision is out of the way.
AAPL stock, FB Facebook, and AMZN Amazon each closed on the highs showing solid relative strength.
AMD Advanced Micro Devices, Inc. exploded and set up a new swing trade, but only if it clears the 57 level.
A few "stay at home stocks" consolidated into one of my favorite trading setups.
3 Stocks primed to explode today: I'm looking for DOCU, SQ and ZM to produce large green candles today. If these stocks trade lower I plan to let them go.
A few recent winning swing trades are back in play as CAR, DISH and SWK need to open and push lower. If they do I'll be looking for a spot to buy.
Have a great day!
Pete
