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Is The Rally Over Or Is The Market Just Taking A Breather?


ETF Trade Watch

The market’s market current rally has seemed to have taken a bit of a breather before going higher, or possibly rolling back over. However, until we have confirmation of a full reversal, for now, we will just play what the market puts in front of us and look for trades that have higher probability.

Oftentimes, whenever there is a sizable rally in the market or a sector, you can plan to see a slight pullback, or a retest of a former resistance level that has now become support. These will be key to find in our trading as we can play the retest with a reasonably high probability that we will go lower before breaking higher once more.

If we are wrong, then our risk management will save us from being beaten up too much from our trade. Not every trade is a winner, but if we have proper risk management, our risk is defined before the trade is ever made.

Check out the video below to get a sense of where the market is and where it could be headed!

If you want to join my students and I as we learn how to look at sector ETFS for our trades then you’ll want to become a member of my Smart Trades options trading service. Not only will you get all my trades, but you’ll also be a part of a growing community of like-minded traders looking to learn and hone their options trading skills.

Learn to find support and resistance levels like we have done in this video in order to find trades based on your own ideas. You’ll learn how to look at a price chart like in the video above and after a while will be able to pick out the most significant price levels yourself so you can better map out your trades, join today!

I look forward to trading with you, but until then, as always…

Good Luck!

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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