MTM Options Trader Newsletter - Trade Setups Using Candlesticks and Average True Range

This Week in the Market The S&P 500 once again tested its 50-day moving average at the close on Friday. Over the past several months, buyers have responded by moving the index higher again. As we look toward this week, has sentiment changed? We may have our answer early in the week with buyers or sellers expected to respond in some fashion. Another bearish close on Monday may change the sentiment to non-bullish (not expecting a move higher) to bearish. Implied volatility levels increased this past week but did not move up to levels seen about a month ago. Could this be a sign market participants are not worried yet? It is time for another Federal Reserve meeting on Wednesday, but no changes are expected. Instead, traders and investors will look for clues of whether Fed members have changed their tone and of what they are thinking going forward. In addition, several other economic reports are due out this week including some housing numbers. Quarterly earnings remain slow, but a couple of popular names are slated to announce this week. Have a safe, healthy and disciplined week of trading!

Sep 21: Housing Starts Sep 21: Current Account Sep 22: Existing Home Sales Sep 22: FOMC Announcement Sep 23: Jobless Claims Sep 23: Leading Economic Indicators Sep 24: New Home Sales Read Our Blog

Trade Setups Using Candlesticks and Average True Range All technical tools perform at times, but none pay off all the time. The trick to technical trading is to identify when an indicator is likely to detect a high percentage winning trade. I have researched many charting techniques, indicators and tools in my 30-plus years in the commodity and stock markets. Whenever I come across a setup or pattern that consistently leads to profitable trades, I place it in my tool kit. My journal has a collection of the best signals from many disciplines. Trial and error helped develop a personal technical Continue Reading ... MTM Watchlist Here are some trade ideas we will be discussing in group coaching class this week: VXX – If the market keeps sinking, IV levels should continue to rise. Additional bull call spreads will be looked at. GLD – After getting hammered down on Thursday, the ETF may have some room to rally back. Either straddles or bull call spreads will be considered with a bullish start to the week. TSLA – Despite the bearish market, shares continued to rise. A move over the $760 level would be a bullish sign and possibly trigger some bull call spreads.

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The strategies in this newsletter are for educational and informative purposes only. All information disclosed in this newsletter should not be considered complete in its entirety. Market Taker Mentoring, Inc. will not be held responsible for changes, oversights, errors or omissions. Dates, prices, news and other information may not be accurate. Please verify all information before trading. You alone are responsible for your own investment decisions. Options involve risk and are not suitable for all investors. Before trading options, please read Characteristics and Risks of Standardized Option (ODD), which can be obtained from your broker; by calling (888) OPTIONS; or from The Options Clearing Corp., 125 S. Franklin St., Suite 1200, Chicago, IL 60606. No statement in this newsletter is intended to be a recommendation or solicitation to buy or sell any security or to provide investment or trading advice. Traders and investors considering options should consult a professional tax advisor as to how taxes may affect the outcome of contemplated options transactions. Copyright Market Taker Mentoring, Inc. 2008 - 2021. All rights reserved. Reproducing or redistributing this content is a violation of federal law.

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