On Thursday, February 9th, we traded X (U.S. Steel), one of our favorite stocks that we trade and monitor daily in our trading room. The first thing we noticed was the flag pattern that developed on the daily chart (see chart). X broke out of the channel which made for a solid day trade and possibly an entry for swing traders. After the initial run of $1 per share at the open, X pulled back as we often see and held support at the important $35 whole number level. This trade was straightforward, had high volume, and made an impressive run from $34.50 up to $37.50.
You’ll benefit by participating in class discussions where you can ask us questions about a variety of trading situations, and practice using the direct access execution system. These real-life experiences are crucial to your development as a consistently profitable trader.
Phase I Covers: Stock Market Basics, Finding Tradable Stocks, Time & Sales, ECN Books, Shadowing Brokerage Firms, Charts, Graphs, Technical Analysis, and Other Essential Matters.