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Why I Like the 5-Minute and Daily Charts Side by Side, and Key Levels to Watch Just about everything is lower following this morning’s Consumer Price Index inflation report, which comes ahead of the biggest catalyst in the near term… I covered the CPI in detail in my Premarket Must Watch session this morning! The Federal Open Market Committee meeting next week, and its decision on what to do with interest rates. Expect markets to remain choppy until then. Russia President Vladimir Putin also threatened restrictions on some basic materials this morning, which isn’t helping matters at all today… The S&P 500 (SPY) is pinched between the 50- and 100-day moving averages, which we needed to break above… Since we didn’t, volatility is on the rise (the VIX is up 9.5% as of 11 a.m. ET). We likely won’t see much directional bias until FOMC — unless Thursday’s Producer Price Index can move the needle… Watch these two lines closely for hints at future direction! With that said, I want to give a quick lesson here that I shared in my free Telegram channel… People ask me a lot why I always look at the 5-minute and daily charts next to each other (just like how my ProTrader Dashboard is set up). The first chart below is the 5-minute, the second is the daily… Roger Scott Roger Scott Trading Follow along and join the conversation for real-time analysis, trade ideas, market insights and more! Telegram: https://t.me/+_vmfwkeP8fA5YWQ5 *This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk. Your Trading Day Could End at 11 AM ET What do you usually do between 9:35 and 11 a.m. ET? Catch up on emails? Attend a meeting? Maybe grab a coffee? For Chris Pulver, it's become the most important part of his trading day. And it usually just takes 85 minutes... Set up at 9:35 a.m.… Check back in at 11. And when things work out, there's an extra $100 to $150 in his account for a $1,000 starting stake. Sounds simple, right? Here’s the truth… The market has a rhythm, a subtle pattern that shows up day after day. Most miss it because they're too busy predicting where the market will end up by the closing bell.
Always remember that past performance is not indicative of future results — anything can happen in trading! How the Daily Chart Setup Works Here’s a more detailed description of how the pattern triggers: 1. The price breaks upward through the orange Market Roadmap Line. 2. Then the price goes up and down while staying above the line. Eventually, it comes down to touch the line again — this could take days, weeks or even months. 3. Once it touches the line and starts moving back up, that signals an entry. Jeffry uses Fibonacci levels for for profit targets and stop losses, and these two tools combined have helped me achieve a 77% win rate over the past six-plus years! You can grab Jeffry’s Market Roadmap Indicator here for just $5 — less than a cup of coffee at most places! Want to get a link to TradingPub content, trade ideas, real-time market analysis and educational tidbits? We have you covered! Telegram is an entirely free messaging app and getting access is as easy as 1… 2… 3… 1. Download Telegram on your mobile device (Before you can add Telegram to your desktop computer, you must download the application on your phone and create your account: To download to your iPhone, click here. To download to your Android device, click here. After the download is complete, please create an account. NOTE: You can manage your privacy settings by clicking “Settings,” and then “Privacy & Security.” 2. Download Telegram on your desktop: Once you’ve downloaded Telegram onto your mobile device and created your personal account, you can download it onto your desktop computer. To download onto your PC, click here. To download onto your MacOS, click here. 3. Then add our channels by clicking these links!
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