Hey friend,
In a couple hours we’ll get the minutes from the Fed’s latest monetary policy meeting.
Given how much the market has moved based on the probabilities of future rate hikes, the minutes could lead to some serious market moves.
The Daily Direction
Note: Indexes closed higher yesterday but have been moving lower today. Still, no change in any index directions.
The Daily Nugget
Don’t chase just because the market hit a new high.
When markets break out to new highs, it’s easy to feel like everything is about to run without you.
That’s when FOMO gets expensive.
A stock clears resistance at $50…
You hesitate.
It runs to $54… then $56.
And suddenly buying at $57 feels better than missing the move completely.
But the setup hasn’t improved.
The price has.
You’re paying more for the same trade, with less upside before the next target and more room for the stock to fall back toward the original breakout level.
That’s how you can be completely right about the direction…
And still end up with a lousy trade.
There’s nothing wrong with buying strength.
But strength doesn’t mean any price is a good price.
Sometimes the better move is to wait for another entry.
Sometimes the stock pulls back and gives you one.
Sometimes it never does.
Missing the occasional winner is part of trading.
Turning a clean breakout into a bad risk/reward trade because you couldn’t stand watching it run without you doesn’t have to be.
The Traders Agency Team
P.S. In just a few hours at 3 p.m. Eastern today, we’re going LIVE to break down a specific chart pattern that can help take a lot of thE guesswork out of breakout trading.
This pattern was ranked #1 in both bull and bear markets by the researcher who literally wrote the book on chart patterns…
And it has helped flag moves like 163% in seven weeks… 270% in 10 weeks… 177% in just 11 days… and 148% in only two days.
We’ll show you exactly what the pattern looks like, how to trade it, and some of the top setups forming right now.
Click here to lock in your free seat for today’s LIVE training at 3 p.m. ET if you haven’t already.
P.P.S. If you’re planning to attend on a mobile device, make sure you download the presentation app now so you don’t miss anything when it starts. See you there.
iOS: apps.apple.com/us/app/goto/id1465614785
Android: play.google.com/store/search?q=goto&c=apps
