Listen With Your Eyes
by Ryan Litchfield
Session Date: 4/21/2010 9:00:00 PM
Location:
Charting is the skill that combines the ability to read and interpret patterns to find trading opportunities. Once learned, the skill is scalable to any timeframe or price, and it is transferable to any market. BetterTrades coach Ryan Litchfield says, "The market can't hear you, but it will speak to you in patterns, so you must listen with your eyes."
The inherent value of learning to chart is that when you observe the pattern of a stock, you can potentially learn the behavior of the people who buy and sell that stock. Because people are creatures of habit, and stocks are traded by people, it is possible to learn from their previous behavior and anticipate possible price movement based on past performance.
In his two-hour class, Ryan explains why:
· Certain patterns might show up with some stocks and not with others.
· Some stocks have predictable behavior while others are erratic.
Using historic examples and emphasizing practical skill development, Ryan shows you how to use stock patterns to:
· Identify the characteristics of a possible trading opportunity.
· Predict potential movement in a potential trading candidate based on its pattern.
· Learn how it’s possible to spot entries and exits based on a stock's pattern of behavior.
· Identify the next potential support and resistance targets and how long it might take to reach those points.
· Tap into the past behavior of a group of traders.
· Identify possible pivot points.
· Recognize potential turning points to find trading opportunities at the most profitable point.
Developing charting skill involves learning about technical analysis topics such as gaps, wedges, support and resistance, and freeway lanes. Ryan teaches how to chart a trading opportunity and uses several examples of historical stocks and patterns that may remain relevant in the market.
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