This Skill Is Essential for Pinpointing Your Options Trades

On Tuesday, we talked about “Channeling,” and I told you how you can use a stock’s Support and Resistance levels to identify channels and better predict how a stock’s price will behave.

To illustrate the point, I used a horizontal channel – that is, a stock that’s trending sideways. It’s the easiest type of channel to identify and trade because you don’t have to account for a stock that’s trending up or down. So it was the perfect way to explain the basics.

But now it’s time to tackle something a bit more advanced.

We’re going to dig a bit deeper into channels today – there’s a lot that you need to know in order to wield this technique effectively.

So let’s get started…

To continue reading click here

Use This Technique to “Channel” Your Profits

We’ve talked before about the importance of Support and Resistance when looking at a stock chart. Back in October, I called it a trader’s “Swiss Army knife” and one of my go-to technical indicators. And we touched on it briefly again last week when I told you about Japanese candlestick charts.

Needless to say, Support and Resistance come up a lot when during the normal course of trading. They are incredibly important indicators of where a stock price might (or might not) be headed.

Today, we’re going to take a look at another way you can use Support and Resistance to identify potentially profitable options trades.

Let’s get to it…

To continue reading click here

View this page online: