Fibonacci retracements & extensions are worthless if you use them like this

Range Charts: –          Every candlestick has a specific amount of RANGE (in ticks) –          4-range chart has candles with 4 ticks of trading range inside the candle. –          When it breaks to 5 ticks of range it then creates a new candle. –          Time is not a variable –          Volume, or tick size is not […]

Price Wedges make easy trading opportunity for Patient Traders

————————————————————————————— The James’ Report:  Professional Resources for Professional Traders ————————————————————————————— Today’s Economic News: Looking at the news this morning, this is the final week of the Summer, leading into the Labor Day Holiday ahead of us this coming weekend.  Like most of the summer, we need to simply stay patient in the first few hours […]

Wait for High Percentage Trades on Summer Friday’s

800am est Crude Oil Futures are trading off the lows and off the highs of the 89range chart price structure. We see a bull channel, price wedge, and a sideways range. Price wedge tells me to buy the lows and sell the highs. Bull channel tells me to buy at major support and to buy […]

Bernanke’s Speech to Central Bankers at Jackson Hole: Full Text

The following is a text of Federal Reserve Chairman Ben S. Bernanke’s remarks to central bankers gathered at a conference in Jackson Hole, Wyoming: Good morning. As always, thanks are due to the Federal Reserve Bank of Kansas City for organizing this conference. This year’s topic, long-term economic growth, is indeed pertinent–as has so often […]

The Best Strategy for a Beginner Day Trader

Beginner Day Trading Strategies: An experienced trader can FEEL the market. A new trader cannot FEEL the market. An experienced trader can use his/her EXPERIENCE to anticipate problems before they happen. A new trader does not have the experience yet. This is why we need to use a tailored approach to new/beginner traders. –          Keep […]

Trade the News Market Internals Update at 12:00ET

Dow +24 S&P +6 NASDAQ +34 ***Economic Data*** – (BR) Brazil July Central Gov’t Budget (BRL): 11.2B v 10.5B prior – (BR) Brazil Aug FGV Construction Costs M/M: 0.2% v 0.3%e – (US) Q2 Preliminary GDP Q/Q Annualized: 1.0% v 1.1%e; Personal Consumption: 0.4% v 0.2%e – (US) Q2 Preliminary GDP Price Index: 2.4% v […]

Summer Friday; Traders Wait for GDP and Bernanke to give us opportunities today

————————————————————————————— The James’ Report:  Professional Resources for Professional Traders ————————————————————————————— – Ahead of the later today speech by the Fed’s Bernanke, European equity indices opened the session flat to slightly higher. However, markets have since moved off of the best levels, as some of the larger European banks have moved into negative territory, despite the […]

Mini Russell & Gold helped us earn +420 ticks day trading

Summer time trading means be patient in the early morning and be disciplined in the late morning. We expect to see volume early with 830am news, but then looking at volume dropping quickly after 1030am. The GDP tomorrow morning will have major money managers on the sidelines earlier than normal today. 805am est Gold Futures […]

Woah…I might have to BUY this one!

Grab your Crude Oil Charts…a hurricane’s a comin!

Hurricane Irene, the strongest Atlantic storm to threaten the U.S. since 2005, battered the Bahamas on a course that’s expected to take it near North Carolina this weekend and New England next week. Hurricane watches are in force for the North Carolina coast as 115 miles-per-hour (185 kilometers per hour) winds ripped through the Bahamas, […]