Hey friend,
Today’s economic calendar is quiet, but the rest of the week brings fresh readings on jobs, business activity, and consumers.
Thursday brings weekly jobless claims and leading economic indicators.
Friday’s manufacturing and services surveys will give us an early look at October business conditions, followed by the final consumer sentiment reading.
The question – is growth holding up while consumers feel the squeeze?
Let’s see how the markets have been moving.
The Daily Direction
Note: Indexes closed higher and opened higher this morning as well. The Russell 2000 managed to reclaim its positive long-term direction.
The Daily Nugget
You don’t need more setups. You need to know one better.
It’s easy to think learning another trading strategy will help you find more opportunities.
So you add another indicator. Watch another tutorial. Learn another chart pattern.
But knowing what ten setups are called isn’t the same as knowing how to trade one.
A pattern can look easy to spot when someone shows you a chart after the stock has already doubled.
Recognizing it while it’s still forming is a different skill.
That takes practice with the same setup – including the examples that didn’t work.
Pick one pattern and study what happened before the breakout. Then compare the winners with the failures.
How did the price behave as the pattern formed? What did volume do? At what point did the setup fail?
Those details are easy to miss when you’re constantly moving on to something new.
And when a trade loses, switching strategies immediately means you never find out whether the problem was the setup, your entry, or simply a loss that comes with trading it.
Stick with one long enough to judge it properly.
That doesn’t mean taking every signal or holding a losing trade.
It means studying enough examples to understand what you’re looking for – and what should make you pass.
You can always add another strategy later.
First, get good at recognizing and executing one.
The Traders Agency Team
P.S. If you’re going to learn one setup in depth, start with one that has appeared before explosive stock moves like 163% in seven weeks… 270% in 10 weeks… and even 177% in just 11 days.
That’s why in just a few hours at 3 p.m. Eastern…
Ross Givens is going LIVE to walk you through what the pattern looks like…
What triggers it…
And even reveal the name and ticker of one of our top targets forming it right now.
Click here to guarantee your free seat and learn the pattern with Ross at 3 p.m. today.
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
