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Chart Pattern Watch
07/20/2010 How to Turn Commodity Charts Into Massive Profit Generators Without Having To Guess The Market's Next Move! Please note, if you cannot see the charts, CLICK HERE for the web page version Good day to you, and welcome to this edition of the Virtual Trading University Chart Pattern Watch. The watchful eye chartist that keeps you updated on the profit pulling power of trading chart patterns. Home | Courses | About Us | TRADE ALERTS | Contact "Seeing is Believing" Chart Pattern Watch is a service for commodity futures and option traders produced by Archie Johnson, president and founder of the Virtual Trading University. For trading education, there is no exception for experience and wisdom when trading the markets. A watch full eye and good trade entry and exit criteria is proven to make you much more money than you lose from trading. Seeing is believing and Chart Pattern Watch is your watch full eye for developing chart patterns in 34 active commodity markets. There are 32 chart patterns that we look for and each has its on unique trading rules. For a full description of the chart patterns we look for and how we trade them, get my course today and I'll show you how to trade what you see and not what you think or hear. If you are like many traders who feel your trade selection and profit exit methods need improvement, Click Here to get my course and Chart Pattern Watch today. You'll find an exciting way to put more money in your pocket without trading on hearsay or other's advise. Markets You Should be Looking at Right Now: Please note, if you cannot see the charts, CLICK HERE for the web page version
The wheat market posted a 1-2-3 bottom and you are long from the #2 point. The market has cleared the down trend line and is on the way to testing the November 2009 highs of 660.75. We are long the December futures and we have moved our $500 protective stop up to next support at 577.00 to lock in a $2475 profit for this trade. As we update this trade I'll show you how to move your stops up to lock in more profits by using a support/resistance trailing stop. My goal is to move my profit stop up with the market until stopped out but staying one support level below current prices to hopefully avoid being stopped out prematurely.
The Symmetrical triangle in the Yen is performing as expected with the market on track to meet the first profit objective at 117.41. I am long from 110.18 and I've moved my $700 risk stop up to 112.04 locking in $2325 for this trade. We will use the support/resistance trailing stop by staying one support level under current prices until the market stops us out.
The Head & Shoulders top in the Dollar met the profit objective last Thursday but may have more downside potential. If you didn't take the profit Thursday and you think there is more downside potential, consider moving your protective stop to breakeven for the trade and sit it out. The market may make a trend line retest which is simply the market price retesting the long term up trend line. If prices make back above the trend line you will likely be stopped out at breakeven. If the retest fails and prices resume their downward track we would move stops down to 84.000 and add fresh new shorts if prices trade below the 50% level at 82.137. Trading what you see on the charts rather than what you think or hear (other's advise) has been my trading philosophy for the past thirty-years and, It continues to provide me with more trading profits than any other method I've traded. The 32 known chart patterns I look for have specific rules to follow for each chart pattern. These rules take away the fear and greed that cause traders to lose money. Once I locate any of the 32 chart patterns, I simply refer to the rules for trading the pattern for either or both futures contracts and options, and that's that. There is no guess work and no worry about the market's next move. Each of the chart pattern trading rules tells me:
If you are beginner or one of the many traders who don't have a trading plan and are tired of losing money, I challenge you to become a chart master. You'll find that trading what you see rather than what you think or hear (other's advise) is a much more rewarding and stress free than any other trading system you've seen. The beauty of this trading method is that it's simple to learn. You simply give yourself a few days to learn the 32 patterns and the four step trade selection and money management rules, and your on your way. Do you need expensive charting software to trade chart patterns? Actually no. A pencil, ruler and printed free charts off the Internet can get you started. However, a charting software that both pin points trading opportunities with accuracy, and gives you a complete educational course within its self will both educate you and pay for its self in a very short period of time. [ side bar ] I have used Gecko Software's Track N' Trade Pro charting software exclusively for years now in my own trading and teaching here at VTU. I highly recommend it for beginners because it's very easy to use and it educates you along the way, and for you more experienced traders, you'll find features in Track N' Trade Pro that you'd expect to find in software costing way more. Take the time to download or request a free demo CD, it comes with historical charts so you can practice finding chart patterns for free. CLICK HERE to download or request your free demo CD today. It's free and you are under no obligations to purchase anything. [ side bar ] I hope you found this edition of Chart Pattern Watch helpful, and if you would like learn more about trading chart patterns, Consider joining my VTU Lifetime Membership Course Group. We'll supply you with everything you need to make your trading less stressful and more rewarding. We'll keep Chart Pattern Watch, Trend Tracker Charts, and futures and option trade alerts coming to you on a continual basis for no extra fees ever. And best of all, you can get everything today for as little as $84.00.
Have a blessed day, Archie Johnson Home | Courses | About Us | TRADE ALERTS | Contact
Disclaimer and Disclosure of Risk Statement All traders should understand that trading in the futures and or options markets is not for everyone. All traders should understand that there is substantial risk of loss when trading futures and or options. All traders should carefully evaluate whether trading in the futures and or options markets is appropriate for them, as such trading is speculative in nature. When trading futures, traders may sustain losses which may exceed their margin deposits. Option purchases may result in the entire loss of premiums paid for such options. Past performance is no guarantee of future success. CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
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