This simple trade technique is nothing new, but many people probably don’t know about it. I showed it yesterday during my Wealth365 presentation and in fact, jumped on a trade about 30 minutes before my curtain call.
Basically I look for a particular candle stick that stabs up into ‘my lines.’ When I say ‘my lines’ I am referring to a basic 50 ema (exponential moving avg), 200 ema and a 20 sma (simple moving avg. One other line is proprietary, our super productive Balance Line, which has the uncanny ability of marking the balance of power between buyers and sellers.
The Balance Line is at the center of all my best stuff. An earlier version of it first appeared in my original strategy, the Seven Summits Trader (SST). Then I modified it a bit and it became the Jump Line in the wildly successful Trend Jumper strategy. Wow, it seems so long ago, but it sold over 2000 copies in 100+ countries.
14 years of live traderoom work offers a type of experience like no other. There is trading of course, which I’ve been doing since the early 90s, but that is not the same as dozens of people relying on my ability to call consistently good live trades nor does it give the consistent live market hours that a traderoom demands.
That’s why I was able to learn from the first two strategies and come out with something even better, the Counter Punch Trader. That was about 5 years ago, I think. The Balance Line became the Signal Line.
It wasn’t until my current strategy, the Spotlight Power Trader that I finally began calling it what it really was. The Balance Line.
You will notice that this enigma of an indicator shows up in ALL my stuff. Including the trade I took yesterday using the particularly shaped candle that produces so many great high percentage winners. Especially when it shows up inside of an actual Spotlight setup. That’s what happened yesterday.
Check out this simple trade technique, designed to give you trades of opportunity as they occur using momentum range bars. This is one I took on the Russell emini but it works on many different symbols
After using such a simple trade technique like the one shown above, I recommend you take your winnings, turn off your computer and go enjoy the rest of the day. For me, it meant running up to my favorite winery in the Napa Valley. Everything is so amazingly green and lush this time of year, especially after such a wet season.
I tried to get a panoramic view with this one. Turned out kind of weird!