Please check out the new website! http://swingtradesetups.com Good luck and happy trading!
There have not been any update on here in 2 months because I have been building a new website. It should be up in the second half of this week. I will leave this one up for a few more weeks and then redirect the url to the new site. Have a great week all!
I hope the markets have been treating you all well. I am moving and taking a vacation so I will be offline for the most part until June 1st. There will also be some exciting updates to the site by July. So far 2015 has offered some fantastic opportunities especially in the energy sector. Many of the plays I have featured here have seen some 10-20% moves higher in a few short days. Overall the trading in the start of this year has been great for disciplined traders. For me the best part of 2015 hasn't been the trading it has been on the coaching side. I have had the opportunity to work with a number of students from all walks of life at different levels of experience. I love helping others and it has been wonderful watching my students grow and have continued success in the market. I will leave you with what one of my students just sent me.
"After a series of mistakes, that made me start trading on tilt, I felt a strong need to re-think my trading strategy/risk management/rules and work on my mindset. My confidence was affected and I even started to seriously doubt about my skills and quit trading! I needed guidance to help get my trading back on track.
So I decided start working with a coach and I contacted Mike. It was the best thing I could have done to get me back on track quickly. Nothing is better than having someone that can watch what you do and correct your flaws, motivates you and help define a successful trading plan. I only wish I would have reached out to Mike sooner.
During the time we have been working together Mike is always there for me. He has also been able to focus my attention and be strict when ever I start getting impatience, overtrading, or not following the plan. I feel that I am back on track and my P&L proves that. Thanks Mike for the patience and dedication, it has been a great experience." ~Joana
I hope May treats you all well. I will see you all again in a month.
The prolonged bear market for gold and silver has continued for 4 years now. Over the last year metals and miners have provided some clues to a possible bottom being in but every time the bulls start a rally they fumbled the ball. The action this year has looked good in gold (weaker in silver) but today they both threaten a key breakdown. Bulls need to hold on here or the metals and miners are at risk of heading lower to test the December lows or make new lows... Here are three charts one of gold one of silver and one of the miners themselves. First up here is silver at the lower BB which has opened up to the downside it is sitting on two key supports uptrend support line and the lower trendline from the channel since the March pullback. Bulls need to hold this line.
Next up a chart of gold which is setup a bit better than silver holding the 1180 area currently which is a support. The lower BB has widened lower here and looks to be at risk of rolling over once again the bulls must hold this area....
The senior miners (GDX) are sitting right on the middle of the BB and key support since the February bottom. RSI is right on support as well, Bulls must hold this line or once again the bears will be in control again.
Trade the charts and listen to what they are saying. I wish you all the best of luck have a great evening.
These are the plays that I love if I am wrong I will take a tiny loss, but if I am right I stand to have a big windfall over the next few months. No one is talking about corn wheat soy beans and sugar. They have been beaten up for long time still in a 4 year beat market. But it has had a few sharp 20% rallies in 2 month period off of this lower trendline of support. We are close to lifetime lows going back to the 2009 crash and on a daily chart have put in a triple bottom at the ~22 level. RSI on the weekly is currently just holding over 30. Here is a chance to take a few % downside risk for a possible 20% pop 10-1 Risk/Reward setup, can't ask for much more than that. Wish you all the best of luck have a great evening.
Uranium plays have caught my attention this week with oil and gas plays making a move Uranium is trying to follow. I like URA for a long Idea if it takes out todays highs 10.89 against the recent lows of 10.18. It looks like URA wants to head up to the prolonged downtrend line at ~12. I hope this week has treated you well. Best of luck to you all.