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Todays Big Stock Wealthpop News

Find Out Why The Bears Are In Control Of This Stock


Today’s stock pick i less about price and levels and more about a chart pattern, which traders should also familiarize themselves with. In this case, we are watching a bearish pattern known as a rising wedge on Marriott (MAR). As you can see in the video, when looking on a higher time frame, you can see candle sticks forming what looks like a wedge as prices push a bit higher.

However, despite prices continuing to rise, this pattern often signals lower prices or a drop of some kind is in the cards. These chart patterns have more validity when two things occur. One, when you see them on the higher timeframes, like on the daily chart. And two, when they are so clearly seen that you cannot be the only trader seeing the pattern.

You much remember, when looking at price levels (support or resistance) or chart patterns, they need to be clear enough that the rest of the market can see them as well. It’s a market, not just you against stock. If no one else takes the trade or sees the set up then the outcome may not happen like you think.

In other words, this is only a bearish pattern because the rest of the market sees it as such and acts on it accordingly. So, be sure when trading chart patterns that they are clearly defined and you know which direction this means prices will head.

Learn to trade like this for yourself when you join The Profit Machine. There, you’ll learn all about my favorite stocks, setups, strategies, and plenty more. You’ll also be invited to weekly webinars where I answer questions and go over important trading lessons, like the one in today’s article. The best part, you’ll also receive live trade alerts. Not only will you get a world-class education, but you’ll earn while you learn.

Get a jump start on your options education and put yourself in position to win in 2023. Sign up today! Until then…

Good Luck With Your Trading!

Christian Tharp, CMT

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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