Signs of strength and absorption are two fantastic tools to help recognize and time a potential mover (winning trade). And identifying a setup when we’ve seen these tools is then the next part of the process. “Breaking support” is often the first step for me in the process of a setup. Today MMEX doubled from the morning lows into the identifiable resistance area, and was up much more from where my partner bought the stock into Thursday’s reaction lows. Everything in this business is the setup, and then – just doing. My partner and some subscribers did a great job of identifying the huge trading opportunity in OWCP last week. Please watch this video to see what we look for in trade setups. This business is very difficult, there are losers at times, and that is what stops are for, mental (my way) or physical. But learning to recognize and identify the really good trades is certainly possible.
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Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day. Scott returned to markets over fifteen years ago where he continues as an independent trader.
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