≈ Pattern recognition is key ≈

Traders,

Last night, we held a webinar on our YouTube channel to teach traders how to trade the Bearish Retracement pattern.  Did you get a chance to see it?  If so, great!  If not, no worries, it was recorded, and the link is below.

The market has had historic volatility recently and this quick sell off, with a rally back last week, has ended up with a lot of charts in this specific pattern.

Learning to trade is a process, but charting is key to any system and approach you’re going to take.  Now is the time to build your skills on all patterns, and this one is particularly relevant currently because so many charts are in it.

Watch the webinar recording, let us know if you have questions and make sure you’re practicing and trading through your daily routine each day. 

Get in the game,

#TeamTackle

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Chart of the Day

S&P 500 Daily Chart

Yesterday, the market pivoted from a recent retracement.  In the chart above, you see the ETF for SPY.  The lower pivot at 220, rallied into 269, and then sold lower off the falling SMA 20.  Learning how to read charts will help you make better decisions over time.

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Video of the day

Learn to trade the Bearish Retracement

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Rookie Corner

The Pitfalls

Hey Rookies! How are we this week? We are continuing down the self-isolation path and hopefully you are holding up well. These are indeed strange times both from a life perspective and a trading perspective.

Traders Lounge 11 AM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

Cashflow Club 8:30 PM EST

Held every Thursday before Friday’s option contract expirations, this show helps you perfect your favorite cashflow strategies.

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.

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