Hold Your Nerve – This Is Where The Money Is Made -

Hold Your Nerve – This Is Where The Money Is Made

Aug 12, 2024Jeremy ParkinsonFinance, No picture0

Remember what I said last week …In time things will settle around the areas of higher probability technical levels, giving us the prime opportunities that we like best.So, be patient. We’ve anticipated unpredictability since mid-June and it has certainly been rocky since then.This is where you prove to yourself that you’re the one in control, and you’re not subject to knee-jerk reactions.This is what the Big Money Footprints strategy is all about. Biding our time for when we can shoot the fish in a barrel. The markets…The largest number of consolidations in the Top 1000 since I can ever remember… but don’t be fooled! The vast majority of them are uncharacteristically untidy right now!But there is something else interesting about them… Nearly all of them are accompanied by a volume consolidation and over half of them have bearish flagpoles.What does that mean? Market Outlook:Watch the video for more detail.Last week I said a temporary snapback or pause was likely.That only happened after Monday’s downdraft! So, I was out by a day, but we now see a record number of consolidations, mostly bearish.I also said to Be patient… this market volatility is not over yet.I would repeat that this week too. There’s a good chance of further unrest and downside potential. Avoid the messy stuff. If you want to trade bearish, go with the neat and tidy setups just under Key Levels.Our market timing continues to be outstanding. Being good at market timing enables you to swim WITH the tide at the right time. The Main Indices:A good chance of waterfall action as these consolidations are accompanied by shrinking volumes too.
Stock Selection:Again, this is a time to observe.I’ve whizzed through all my favourite setups and the quality on offer is scarce to say the least. We’re all about quality and control.Pick your playbook and stick to the best quality setups that conform to it.My playbook is OVI, near Key Levels, Shrinking Retracements, and a consolidation/sideways move. The other two Big Money Footprints are highly desirable but those four are essential to ME!