How To Trade This Industrial Stock Approaching Resistance
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If you have been following these video breakdowns, you have probably figured out a trend in how we find our trades. Our trading philosophy centers around an idea you probably heard when you were in school as a kid, and that idea is K.I.S.S., otherwise known as Keep It Simple, Stupid.
Keeping your trading plan as simple as possible is the best way to find consistency in executing your trading plan. It’s when you start to add a ton of indicators or strategies that you begin to give yourself information overload. Case in point is our next stock we are looking at for a possible trade, Mohawk Industries (MHK).
What you’ll notice in all of these videos is there isn’t a laser light show that is going on in the background like you might see on other traders screens and what we focus on most are significant price levels. In the video below you’ll see just how we spot these key price levels, so be sure to watch it below!
MHK is clearly making a run at a level that had caused the stock to react many times in the past, so knowing these levels and how to find them can be a huge addition to your trading toolkit.
Traders should always be looking for ways to improve their toolkit and one of the best ways to do that is to learn from others who have found success in the endeavor you are undertaking. That is exactly why I started The Profit Machine, to help others learn the art of trading stocks and options. When you join you’ll be coached by me, along with thousands of other students, as we solidify your new trading strategy.
So, if you want to learn how to make the trade on a stock like MHK, or many more like it then join today and kick of your learning journey with me. Make the commitment to improving your financial well-being and make 2023 the best year you’ve ever had as a trader. I look forward to you becoming a part of this fast growing community.
