🐺Made a Fortune or Lost a Fortune This Week?

Hey there! My name is Jordan and I write about trading for the WOLF Financial newsletter. If you are looking for more trading tips and tricks, I guarantee you’ll enjoy my content on 𝕏, @AcetheKidTA. 

Thanks for reading!

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What a week to say the least ladies and gentlemen. The S&P 500 gained 4.01% on the week, closing above the previous week's highs. This is very bullish in my opinion and should NOT be ignored.

We are one news catalyst away from new all-time highs and the next big event is FOMC.

I want to stress this again. I am NOT swinging short anything in this market and haven’t been for a while. I’m happy to play the short side with futures for short-term pullbacks, but I cannot swing this market short.

When I see a reason to I will, there is no reason on this chart to be heavily shorting this market in my opinion.

There were many people this week posting about how they sold too early on the trends and left a lot of money on the table.

I use a system that helps me capture more of a move and not get scared out of a good trade that can be used on any timeframe for any type of trader.

Keep reading to learn it!

Candle By Candle Method (CBC)

The Candle By Candle Method is a strategy created by @MapleStax that has helped me take my day trading to the next level and yet it is EXTREMELY simple.

To understand it at first I recommend looking at a 10-minute chart, but this can be used on any time frame.

Up above you can see on the chart that there is a green arrow that I circled. This arrow indicates that CBC is flipping bullish on the 10-minute.

This means that the 10-minute candle closed above the previous 10-minute candle high, flipping the CBC from bearish to bullish.

This was one trigger for longs for a lot of us day traders at the time. After entering a trade I will continue to hold as long as CBC is holding bullish. A candle close below the previous candle low would flip CBC bearish.

Looking at the chart above, using CBC on the 10-minute you would’ve been able to capture the entire trend of the day without being scared out at all.

Not selling unless you get that 10-minute close under the previous candle low. Not a single candle close below the previous candle low all day. When it does, you know it’s time to de-risk or get out completely.

This same thing can be used on the short side or on any time frame, but for day trading I highly recommend the 10-minute.

If you want to get a more detailed and visual explanation of The Candle By Candle Method, I have a free video on my YouTube explaining the whole thing here:

Knowing what to look for and then acting on the information you have are two big steps toward becoming a consistent and successful trader.

I hope what I’ve shared has helped you.

Thanks for reading and have a great week!

-Jordan

@AcetheKidTA