Every freely-traded market makes a series of turning points that tend to occur during the day session of the regional stock market. They can range in number from two to four, but about 80% of the time there are three: HI-LO-HI or LO-HI-LO. You don’t need to master complex cycle theories or pay to join some elite trading group in order to recognize and utilize daily turning points. I can teach you how to spot them and exploit them with conventional technical analysis.
Scoreboard
ES: 11 wins / 0 losses
Chart Chat
Today’s 3-minute chart contains a fantastic LO-HI-LO configuration with no less than eleven good trading opportunities. A peeling off strategy using 16 contracts would have netted a little over $17,000. Not a bad day’s work. Have a great weekend. Be back Monday for the next edition of M5: Mike’s Monday Morning Mentoring Moment.
Please click on the chart below to make it larger.