Have you ever wished that you could look at a stock and apply some sort of “skeleton key” to the price action and instantly get a good indication of where to buy or sell?
Sorry, there is nothing can be affixed to ALL stocks and tell you such things.
THERE IS, however, a certain fixed template that can be used to analyze the price action of a stock or market to see if it does indeed fit the parameters. Again though, this does not mean that it will fit all stocks or that you will be able to use this template to help you in ever situation in the stock market.
Understand that this template relies heavily on the psychological aspect of price action and how human emotion is put on display in the stock market.
Next train yourself to spot the “skeleton key” pattern on all time frames in price action.
Once you have found a good fit in a stock at an actionable price point, initiate the trade and watch the price action play out to success or failure.
After you have done this many times you can go back and fine tune the system to eliminate the week entry points, use different instruments to improve returns, and so on.
I am sure you are reading this going “yeah that is fine and dandy, but you never explained what the the ‘skeleton key’ is or how to use it?”
And you are correct about that. The reason for this is that I am going to be covering this and much more today in a live webinar! Make sure to be in the “Cowan’s corner” chat room (Password: stoploss) at 6PM ET today June 6th to get the details of the “skeleton key” and so much more valuable information!
See you there!