Gap up and stalling at moving average day for the market.
Leader stocks. FB,AMZN,NFLX ,GOOG all has the same moving average stalling action. Wild card now is the FOMC interest rate decision announcement on Wednesday at 2 PM EST. Would be interesting too see Market’s reaction to FED’s much publicized rate cut decision. So it should be another volatile day. Trading action should quiet down after 12 PM and volatility will increase right after the announcement. Usually the first move after announcement is the false one so it is better to chill a bit.
Nice trading action this week so far, with the increase in volatility we have a “round trip” trading action in the market. We were shorting AMZN, NFLX, TSLA Monday on green to red move as planned in blog, then they reversed and worked great for a long trade and shorting back again Tuesday on moving average resistance. As always volatility brings big rewards for short term traders.Hope you guys all having a good week so far.If you are struggling with your trading or learn how to trade you need to join our 60 day Bootcamp course. Our program is designed in such a way that you come out of it ready to trade live in just 3 months. We teach you everything from risk management to scanning to trading strategies. I also share my profitable intraday trading strategy which will make you money short term regardless of Market condition. The class is one of a kind, see why you should sign up for the course here . You will also have access to a private community where you can ask questions, share charts and talk with the instructors or other traders. You can also check out the testimonials from our students.
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