- Dow Jones bulls have begun overpowering the bears.
- Potential long trade setups.
- Trader mindset announcement.
Let’s get straight to the point and look at what the Dow is doing. At the moment, price has found a substantial amount of support between $32,000 and $33,000. I have made the chart clear to show just the candlestick patterns because that is the primary driver we are going to be using to initiate long positions.
The trade is a simple one. It has a high probability of success because of the strong bullish candlesticks and price actions that refuse to let price drop below $31,500. We can hold stops below or around that level, with targets set at $34,2007, which is the high of the range that YM initially dropped below.
No setup is perfect, and we must never expect them to work out exactly how we plan. In fact, it’s important to understand that all we can do is find the best setups. Once the position is taken, we cannot do anything, and so there is no point in waiting and worrying.
The control must be given up and left in the hands of the market.
We will discuss similar psychological aspects of markets in Trader Mindset. If you are interested, here is some more information:
Announcement about trader mindset
Soon, we will be launching something called ‘trader mindset.’ It’s a series of 1 on 1 sessions traders can book to have with Jay.
In these sessions, we are going to focus 80% of our attention on mindset and 20% on the practical elements required in trading and markets. We are going to look at your schedule, personality, and trading philosophy to begin building a solid plan you can rely on. We will not cover trading strategies in these sessions nor technical patterns or setups. I am simply here to help you understand the best path forward toward achieving trading success. I am here to support you. We will be releasing a video soon with more details.
Topics we will discuss include:
- Objective trading vs. subjective trading
- Developing an actual plan and something that you can trust
- ‘Importance’ as a major factor in why failure arises and how to release it
- The ego and its role in trading decisions
- How you can make trading easy
- How to make the choice that successful trading is what you actually want
- Vital exercises to improve your trading ability and decision making
- Why your expectations on the outcome are the reason things don’t work out
- All major athletes need coaches. Trading is no different
- How to think in probabilities
If this is something that interests you and would like to be added to the list for a free session once rolled out, please add me on discord here Jay-OUP#6138, or send me an email at email@example.com