The market has been flagging at its highs as it seems to be awaiting more economic data from CPI and direction from the Fed at FOMC. TG can see the case for both bullish and bearish outcomes and he thinks it will depend on what these two data points come out as. It has been a tough market to work with since the technicals are getting thrown around based on news.
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 vide...
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 ...
