A Darling of a Trade Idea
A market pullback seems imminent, and there should be some increase in volatility associated with the upcoming correction. In anticipation of both, I have started looking at the weekly charts for trades that will absorb the larger-range moves and price swings. Over the last several weeks, there have been a number of good trading setups, and the long side has been profitable. It should continue once we get past the highly anticipated retrace.
Going forward, however, I don't want to be whipsawed out of a good position, so I'm looking at the larger picture. No trader expects to catch the beginning of a move or to bailout at the top, and when trading with weekly charts that gap widens. Using weekly setups, you will lag the daily entry and exit levels but you are less likely to be stopped out on a short-term fluctuation and more likely to capture a longer-term move and, ultimately, a bigger profit....347 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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