The SharePlanner Reversal Indicator is sitting on extreme bearish levels, that at some point will lead to a bullish reversal or hold out at these levels for another 2-3 weeks.
We did, with the sell-off from last week get a test of the 2120 level and the market has, up to this point, held that level.
That is your inflection point. More downside comes with a break of 2120, and the bulls will avoid a bigger downtrend, but refusing to let 2120 to break at any point going forward.
Here’s the SPRI:
Welcome to Swing Trading the Stock Market Podcast!
I want you to become a better trader, and you know what? You absolutely can!
Commit these three rules to memory and to your trading:
#1: Manage the RISK ALWAYS!
#2: Keep the Losses Small
#3: Do #1 & #2 and the profits will take care of themselves.
That’s right, successful swing-trading is about managing the risk, and with Swing Trading the Stock Market podcast, I encourage you to email me (ryan@shareplanner.com) your questions, and there’s a good chance I’ll make a future podcast out of your stock market related question.
Watching the dollars rise and fall in your trading account can turn a well-planned swing trade into an emotional, deeply personal decision. In this episode, I explain why focusing on price action, percentage returns, and R-multiples can help you avoid cutting winners early, holding losers too long, and abandoning your trading plan.
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*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.
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