Eric Evenstad
Read Time: 3 Minutes
There was a barrage of economic reports, Fed speakers, and earnings reports this week. This caused some rather unpredictable price action - especially early in the week.
As a result, I traded with lower risk this week and I made it a point to be a little extra picky about which trades I took.
The plan worked well and I was able to end the week in the green while avoiding several traps that likely would have cost me in the past. I also walked away with a couple of "aha" moments:
To finish out the newsletter, I want to share a little trick that I recently learned:
Over the last few months, I've seen several traders use the trendline tool to predict the size of an upcoming move. I recently decided to try it out for myself and the results have been surprisingly reliable.
Here's a quick video where I explain how the trendline trick works:
That's it for this week. I hope you've learned something useful and I hope you have a great week ahead.
- Eric