Charts and more charts. Plus sporadic thoughts on the stock market, trading, politics, entertainment, sports, and everything else. Welcome to the Trader-X blog! Thursday, August 03, Stranger Things. Many thanks to those of you who continue to visit and comment. He's posted some good charts you can view for free click on "Charts" , and his Dow prediction was on the money. I think we'll soon see an end to the rally that started when Trump was elected last year. Posted by Trader-X at 9: Monday, February 16, Timeless strategies Last June , I made a post stating the following: Even though the charts are a few years old, the strategies are still just as applicable.
They worked long before I came along, and they will work long after I am gone. That is the good thing about understanding price movement and technical analysis - it works a lot better than chasing new stuff and bouncing around from method to method. It made another attempt and failed, but both times it pulled back to support at the March high and bounced previous resistance was now support At the beginning of September, it finally broke through 4, and hit my target actually, it exceeded my target by around 60 points.
Price then promptly collapsed, falling back to the 4, mark. What was the significance of 4,? It was the This stuff works - it always has, it always will.
That's why I leave this blog up. Price now sits just above the Make of that what you will See you in another year or so. Posted by Trader-X at 1: Friday, June 13, Any readers out there?
This blog still gets a fair number of visitors every month, which is why I leave it up. If you look at the chart of the Nasdaq over the past year, you can see many of the patterns I highlight over the years of posts here. The move from July 13 through the beginning of this year was textbook, with multiple pullbacks to the retracement zone, bounces, and continuations to the Fibonacci extensions you can easily spot three well-defined patterns on the daily chart.
It bounced off that February 5th low on April 15th , and moved back up towards the previous March high; it currently sits just below that level.
If price can take out the March high, it should move to the Posted by Trader-X at 8: It looks like my downside Facebook target is getting closer - just a dollar shy at today's low! As June arrives, I am going to take some time off to travel, enjoy the sun, and take care of some family matters. I might be back later this summer or, I might just disappear - check back or subscribe to the feed top of the page "Subscribe to the Trader-X blog" to be notified when posting resumes. Finally, I've been telling my readers about "The T.
Principle" for years see my first post on it almost 10 years ago. It is on a completely different level from the previous versions, and represents an exploration of the things we do that make us unhappy, and what we need to do to find happiness in ourselves as opposed to looking for it externally.
If you want to understand your mind, how compulsive it is, the challenges it creates in your life, and how to deal with them, you need to do it. It is a day course, and it is well-structured and insightful. If you purchased in the past, you get this new version free that's the other good thing about them - they never charge you for their updates. It could have a big impact on your life, and it is well worth the effort. Posted by Trader-X at 4: Thursday, May 31, A trade from Chris Price chopped around the retracement zone and then formed a nice hammer on top of it at I exited at the Fibonacci extension, and re-entered on a break of the 1: Posted by Trader-X at Wednesday, May 30, Looking at Facebook.
Since there is a lot of talk in comments about FB, I thought it would be interesting to look at the action of the first 8 days. If you plot Fibonacci lines over the first and second day, you can see that - after the short-lived bounce on day 2 - price gapped down below the low and then tested that low as resistance multiple times over days It then started a three day move down that culminated with price nailing the Fibonacci extension and breaking below it late today.
I offer no predictions, but it seems to be at a decisive point here. Tomorrow will be interesting to watch.
All in all, I'm glad I avoided the Facebook hype! Posted by Trader-X at 5: Thursday, May 24, VMW - Charles posted this trade in comments - check out his analysis here , as well as other trades and more Facebook talk! Friday's trade brought to you by Warren: It was a nice pattern that gapped down, pulled back, and then broke back through the previous low of the morning.
The trigger bar closed below the morning low, had a long upper tail, and resistance from the 8EMA. Covered at the Fibonacci extension at the end of the day. Sorry to those who commented - if it makes you feel better, I expected more from it too!
Posted by Trader-X at 3: Any bets on what it will open at, or the high of the first 30 minutes of trading? Closest answer gets the satisfaction of being the closest answer! Read the article here. There have been a lot of good trades and discussion in the "comments" of the last few posts - I have not had time to cull through them and post charts, but I'll try to get a few up tomorrow or Saturday.
Very insightful comments over the past few days - a lot of good trades and analysis, so check them out. Here is a trade from Brian: GRPN, minute chart, Fibonacci lines over the opening range.
Price pulled back to the Posted by Trader-X at 7: Wednesday, May 09, Mid-week madness. Thank you to everyone posting trades and analysis in comments. And, of course, your reasons for taking the trade as well as any comments or questions. I've had to omit some comments recently because they lacked a lot of this information, making it impossible for anyone to reference the proper chart.
Thanks, and I'll try to highlight some trades from comments tomorrow or Friday. Thursday, May 03, ADM - In the comments of the previous post, there is good analysis of trades in the following ADM chart, including discussion on targets, when to exit, and second entries.
There are also many additional trades discussed - I will let you pull those charts up on your own. Here is the ADM chart - refer to the comments of the previous post for analysis. Tuesday, April 24, A short week. I'm taking time off to enjoy the Spring. Here is a trade from Chris, and I'll see you guys maybe next week!
I didn't like the high tail on the third bar, but the trigger bar 5th bar filled it in as it was a strong, green bar. I entered on a break of that bar's high and exited at the Fibonacci extension.
What I call a classic X trade, though it may not meet your strict definition. Sunday, April 22, A trade from Dan As noted in the previous post, I am taking a few days off to enjoy Spring so I am behind on looking through comments. Here is a trade and question from Dan on Thursday: I entered on a break of the third bar high, and sold at the Fibonacci extension.
The only red flag was the bar was a bit far away from the 5 and 8EMAs, so I am not sure if that meant most would pass on it. The price action of the first three bars was strong, though, so I thought the risk worthwhile. I appreciate any feedback. Posted by Trader-X at 6: Blogs I read trading: Weekly Market Recap Dec 3, 20 minutes ago.
Trading Goddess Stock Blog! Ex Dividend Stocks for Week 1 of December 3 hours ago. Three Key Ingredients of Trading Success 14 hours ago.More...