Author Archive for: Alex - Chart Freak
About Alex - Chart Freak
I’ve been a full time trader for well over a decade and began trading in the late 1990s while working in management and sales at a well-known aerospace company. As my style evolved, so did my success, and it allowed me to leave corporate America to pursue my passion and trade full time.
Entries by Alex - Chart Freak
When stocks run steadily higher, they can get a bit extended or maybe sentiment even gets a bit euphoric. A healthy market then starts to enter a period of consolidation or begins to pull back and digest those gains. I think that is what we are seeing currently in the Precious Metals Sector, but is that also what we are seeing in the General Markets? Let's discuss our current Market set up...
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Recently I have been pointing out various areas where divergence seemed to be sending out a warning. Wednesdays trading got pretty ugly by the end of the day, so let's see how everything was affected...
NASDAQ DAILY - We have been trading the Miners more than anything else, but for those that take positions in the General markets, this reversal at the Red Arrow could be bought for those wanting to go long. I also said that it would need a stop, and the stop should be Raised as price moved higher, due to the wide open MACD gap. The Nasdaq was rejected at the 50sma, and ...
I've heard the old expression, "What a difference a day makes", but Now I truly understand the expression: "Wow what a difference a day makes! "
Pick any Sector and it looked a bit Choppy Monday, and even though Gold & Silver are looking like they are forming Bull Flags, Miners dropped. Let's take a closer look and see what Monday brought our way...