Most traders and investors don’t know this, but there are some quick questions we can ask ourselves to see if we’re making decent trades.
Those four questions are:
Am I above the opening of the day? That simply means if a stock opens at $26.50 a share, are you above that level?
Am I above the high of the reference or record-point bar?
Am I above the weekly midpoint?
Is the current bar higher than the previous bar?
Since we have a jam-packed trading week, we thought we’d show you exactly how these steps work. And we’ll even throw in some top probabilities for the week, a few key terms you’ll want to know and a list of stocks we’re targeting now.