Had to take profits...On Monday I mentioned UCU had formed a Falling Wedge and was about to bounce off the 200SMA. Took position Monday morning and was nicely rewarded 3 days later and closed my position at
.54 for 45.9% gains in 3 days. You can read about the technical setup and how it was played
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For those who want to take their trading abilities to the next level and start trading based on Technical Analysis, instead of hear say and what the 'story' sounds like, I offer a course called
Fundamentals of Technical Analysis where I introduce what TA is all about and walk you thru lesson after lesson building on what we've just learnt. At the end of each chapter is a fun quiz to make sure the material covered is well understood. You can read more about it
here.
Technical Analysis is all about pattern recognition and the probabilities of that pattern repeating itself. In order to help you identify these patterns are and how to trade them, I have created a set of
Chart Pattern Flash Cards to do just that. Each card shows you the formation, a description of what it is (continuation, reversal, trending, etc), how to trade it and what the success rate is on that pattern. These are great little cards (printed on sturdy 70 lbs index cards) and indispensable when you start trading with Technical Analysis. Read more and order them
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Cheers and Happy Trading!