Last week we talked with Keith Harwood about where he is finding good trades in a market that was continuing to slide. (check it out here) After yesterday’s dive clean energy is still fighting the downtrend.
Even thought they gapped down with the broader market falling off a cliff yesterday, many traders saw this as an opportunity to grab some bargains and pushed clean energy up before the close. Take a look at TAN, an ETF tracking solar stocks:
It found a solid footing at the 10 day moving average and then pushed back up. And it wasn’t the only clean energy play bucking the trend. Take a look at ICLN as well on the chart below:
Finding set ups in trades that have a strong trend behind them greatly increases the likelihood of them moving in the direction you expect. That means more wins.
Keith dives deeper into how he finds these high probability trades in the “cheat sheet” he put together that reveals how market makers consistently find trades, day after day. Be sure to grab a copy here and start using the rest of his tips.
Keep learning and trade wisely,
Market Wealth Daily
PS-Joe Duffy is another pro whose understanding of momentum has helped many traders exploit the way it can find trades with increased likelihood of winning. He is going to be walking through how he uses that in up and down markets to produce consistent winners in a webinar later today. Be sure to sign up now and make sure you don’t miss what he is going to explain. Click here to sign up.