POTENTIAL TREND REVERSAL TRADES
Goldman Sachs (GS)
GS has been slowly working its way back to its downtrend line since mid February, setting up for a potential reversal break. The daily has formed a higher low for its trend reversal. Now all we need is a break higher from its box and above the down trend line for confirmation.
GS Weekly And Daily Charts
DISH Network Corporation (DISH)
DISH broke a weekly downtrend in early March. The daily has since formed a box for a potential break higher to further confirm the break.
DISH Weekly And Daily Charts
As with any trade, anything can happen. Trends form and gain momentum but can lose that same momentum at any time, threatening the established trend and even breaking it. Trends and their reversals provide us potential opportunities for financial gain but when they fail to materialize as anticipated, our discipline to properly manage our dashed expectations will be tested.
Although we just concluded a 5 week course detailing how to trade trends utilizing support and resistance, the course is available in a video library for viewing. Our next course will detail how to trade trend reversals and will be coming up in the next few weeks. Reach out to me if interested.
Further reading from David: Â “3 Reasons Why Choppy Markets Are Troublesome For Traders“
Twitter:Â Â @crosshairtrader
No positions in any of the mentioned securities at the time of publication. Â Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
