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SPDR Technical Analysis $XLF $XLRE $XLC Price Predictions
Today we are reviewing different sectors under SPDR. Is it a good time to go short?
$XLF $XLRE $XLC $XHB $XRT $XLE $XLU $XLB $XLP $XBI $XOP $XLK $XLY
In today's video, we will review the pocket of resistance. Let's see if it plays out the way we want it to.
You can review the video here:
https://www.youtube.com/watch?v=JmHnNxWtImA
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Timestamp
0:00 Intro
0:15 Setting up Symmetry Support
0:29 Setting up Fibonacci Retracements
0:34 Plan the Moves Ahead
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This is the Centered Trading Channel.
I am a student of Fibonacci Analysis and the 3 Price Relationship as taught by Carolyn Boroden (Fibonacci Queen).
Centered Trading has a few key components in our approach.
- Composure
- Clarity
- Commitment
Trading with Composure means that I must first prepare my mind before I turn on the computer. This looks like meditation, positive affirmations, stretching, exercise, proper nutrition, breathing exercises, & listening to calming music. I must have a deep understanding that all feelings of certainty is an illusion. I must look at the markets with a probability mindset. Trading with composure is to be able to have the mindfulness to examine my current emotional states (fear, anger, revenge, shame, euphoria - all these emotions can override and take me off course). I look at the markets with a sense of wonder and curiosity.
Trading with Clarity means that I must have a trading methodology in place. The methodology must be clear, concise, and followed. I must be clear about the position sizing as I'm not trying to force myself into profits or make the markets to move in a certain way. All desires/feelings of control is an illusion.
Trading with Commitment means that I must follow through on my trading plan. I either take a small loss with the trade, ratchet up the stops as the trade goes into my favor, or take profits at appointed profit extensions.
Peter Borish - “Price Before Headlines. Discipline Before Vision. Price Before Sentiment.”
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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. Past Performance is not indicative of future results.
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