Bryan Agosto | CORE Coach
VXX in a range, depending on the broader market direction we could go up to 36 or down to 29.
Understand the flow of the market, and find the range where price reacts, and you can make money.
First off Happy Veterans Day, and thank you for your service to any service men & women out there!
I can remember when I started to get interested in trading and tried to go all in one a few trades and failed, having the market go against my trade time and time again was very frustrating. I tried some different methods watch videos on YouTube in the effort of trying to figure out what the secret sauce was to timing the market and being consistently profitable. I want to tell you that I have found it and that I am timing the market perfectly every time, but that would be a lie. What I can tell you is that understanding how the market flows has made my trades better, but that does not mean I win every trade.
Take for example this monthly chart; if we look at the past year, we can see clearly where the price has reacted(grey boxes). The stock market is always creating patterns that we can use to our benefit for getting in or out of trades. In the image below you can see how price increased when it arrived in the lower range(confetti) and how it decreased(comet) when it entered the higher range.
Based on Landshark's trade plan, I have found consistency and developed a general understanding of flow and how price reacts in certain areas. So after seeing my chart, you may be asking yourself, how exactly do we know the top and the bottom? My answer would be, use history, see where price reacts and you will find your range. If you are having trouble finding ranges reach out to one of our instructors here at Landshark we will be glad to help you. We also have our Core Foundations of Trading (CFOT) course that can help you with understanding price charts and market patterns.
Good luck trading this week and be sure to thank those around you who have served this great country for the sacrifices they have made for all of us.