Setups are only as valid as the most recent data, and often times that data is greatly influenced by market news. This week was no exception when Jerome Powell rocked the market when he announced the possible reduction of interest rate hikes.
In this week's episode, TG refers to his previous video and shows you a case study using the UVXY. How did this near-perfect setup fail to perform? How did Powell's words change the dynamic of the marker? And how can we be on the right side of "buy the rumor sell the news".
In this educational episode TG Watkins goes over his basic chart setups, the indicators he uses, and some basic principles that he implements in his trading.
TG shares that the market has been pulling back after the 2 day jump from CPI which makes sense considering how vertical the move was and unsupported. Now, with the pullback, we have to determine if it is into support or not. His concern is that if support is found, it may not last very long. He ...
TG shares on how the CPI came in slightly cooler than expected and the market responded strongly. The question he finds himself asking is how far will it go and for how long? He is concerned that with such a big one day move, it is actually unsupported near term. Then he looks at the UVXY and I s...
