Chapter 12
Identifying Trade Opportunities
In This Chapter
Organizing market analysis to spot trade setups
Locating pivotal support and resistance levels
Using momentum to spot trades and fine-tune entry and exits
Trading on candlestick patterns
Constructing a real-time trade strategy
Spotting trade opportunities and applying a trading plan are what it all boils down to. Traders and speculators spend the time and energy to follow the market and know what’s going on. They analyze and strategize, persistently scanning the market for trade opportunities, or setups, and waiting for the right time to step in and commit their money. And when they step in, they have a well-defined trade plan to guide them through whatever the market throws at them.
There’s certainly no shortage of opinions and ideas being voiced by market analysts and commentators, but in the end the trades you make are your decision. In this chapter, I go through the key steps to spotting trade opportunities and putting ...
