Today we hosted our own traders and invited other traders to join us in a live class to see exactly how we read the market. The market was slow and wasn’t moving in a great manner but we did have a handful of opportunities. The market started off with extremely strong momentum, similar to Jan 16th.
If you were following our Day Trading Academy Facebook page we provided live updates!
Here is the initial chart that we had this morning with the valid opportunities we discussed in our live class this morning.
We talked about three different profit targets and where the market would have the possibility of going. I didn’t want to talk about potentials or the amount of money that someone could make today because that varies greatly.
It depends on whether a trader is beginner or advanced and is management style.
What we were able to point out is the areas where we were expected the market to do, excluding software or any indicators of course. Just reading the market momentum and gauging the momentum we were able to identify the overall area of 1479.50.
At the writing of this post the area was broken and the market has now reached 1480.50.
Just think about the power of this for a moment. The ability to tell where the market is going with a high degree of accuracy is a skill a trader must have. The aptitude to be able to gauge target areas is effective for both intraday traders (Congressive Trading System) and swing traders as well.
Even in a slow moving market you would be able to get entries with extremely low risk (within a few ticks) based on intraday techniques. With the ability to use Fibonacci confluence zones we are able to gauge overall targets for the market.
Here is a chart with valid trades from our live class (and after). We consider the morning session to be 9.30am EST to 1pm EST.
There are two blocks where we find our best opportunities or optimal trading times. The early morning period has the majority of our opportunities (9.30am EST to 11am EST). The 2nd morning period (11am EST to 1pm EST) also has very good opportunities.
If you consider Tuesday’s market activity (Jan 15th) the market started to trend beautifully after 11am EST providing the best opportunities of the day. Most of our traders trade between 8.45am EST to roughly 10am or 11am EST. Look forward to coming out with the beginner results and finalizing the numbers for last year.
REMINDER: Markets are closed on Monday (close early at 10.30am EST) and will reopen at normal time on Tuesday.
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