The Roadmap to Opportunity Has 3 Main Markers
IDEXX Laboratories (NASDAQ: IDXX) showed all three back on Dec. 21 -- right before the stock exploded upward
by Nico Isaac
Updated: January 26, 2018
Last July, I went to visit a friend in Nova Scotia, Canada. One day, she and I decided to take a day trip driving around the region's scenic countryside, sans cell-phone reception. About 5 miles into our adventure, I took out the map we purchased at the gas station, only to discover it was a topographical map, showing only the names of lakes, rivers, mountains, and so on. It neglected, however, to identify specific rural routes and country roads.
Suffice to say, we turned into the next convenience store and bought the appropriate map -- one that had all the information we needed not to get lost deep within Canadian cow country.
Now, why are we talking about Canadian backwoods in a financial markets article?
Because a similar problem of limited knowledge, or "map data," can get you lost in the world of trading, too.
Think about it: In a rush to buy or sell, traders will often make the decision based on a limited set of data.
For our senior instructor and Trader's Classroom editor, Jeffrey Kennedy, the ideal "roadmap" to opportunity contains no less than three main markers. In an up-trending market, Jeffrey's "go-to" high-confidence trade set-up includes exactly three interlocking pieces:
- First: A 14-period Relative Strength Index (RSI) that falls within the bullish "range rules," which state: Counter-trend moves will tend to see RSI find bull-market support between 50 and 40.
- Second: A 13, 8, 5 setting Stochastics with an oversold signature, i.e. at 20 or less.
The chart below shows the bullish "RSI/Stochastic Combo" in real time:
- Third landmark on the roadmap to opportunity: a solid Elliott wave pattern.
In Jeffrey's own words:
"This is my go-to-pattern. I love looking for this. By themselves, [RSI and Stochastics] are powerful tools. But [even] more so when you combine them together" with Elliott waves.
In his December 21, 2017 Trader's Classroom video, Jeffrey utilized this three-tiered technical base to identify a bullish trend change on the price chart of IDEXX Laboratories (NASDAQ: IDXX).
The RSI was near the bull-market support, Stochastics was in oversold territory, and a corrective A-B-C Elliott wave pattern were all sending one clear message:
"This is an issue that needs to be on our watch list because the potentiality of it is quite nice for a move up to 185, 190..."
Go ahead and watch Jeffrey walk subscribers through his analysis with this exclusive clip from the December 21 Trader's Classroom lesson:
This chart shows where Jeffrey's Trader's Classroom analysis occurred along IDXX's bullish trajectory:
Navigating the near- and long-term trend changes in the world's leading financial markets requires patience, objectivity, and an expert sense of technical direction. Our senior market analyst and Trader's Classroom instructor Jeffrey Kennedy has all three in spades.
Become THAT trader who can see high-confidence entries, get in and get out with confidence — and sleep at night.
Several times a week, you meet with a market veteran and he's one of the most sought-after teachers in the world. He has dedicated his entire professional career to helping traders like you spot and act on high-confidence trade setups.
At every meeting, you watch over his shoulder as he shows you exactly how to spot your market opportunity. And he doesn't just teach principles. He uses real-life market opportunities to show you the telltale signs that a market is about to move. He also coaches you on how to create your trading plan for this setup — including how to estimate upside potential and identify risk-limiting price levels.
Sound like an ideal fantasy? Well...
THAT is exactly what Jeffrey Kennedy is offering you as a Trader's Classroom subscriber!
This Offer Gives You Everything You Need to Launch Your Elliott Wave Trading Journey
Years from now, you'll look back on the next three months as a pivotal point in your trading approach. The learning track we've designed for you includes real-time mentoring, plus four self-paced trading resources. This package would normally cost $482. But today, you can get it for $147.
Here's what you get...
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As a Trader's Classroom subscriber, at least once each month, you are invited to join Jeffrey Kennedy LIVE online for an interactive Trader's Classroom lesson. During these interactive lessons, you can personally ask Jeffrey your questions about the day's lesson, get his responses in real time, and benefit from other subscribers' comments and questions, as well. And don't worry if you're unable to make the live events: We'll post recordings in your subscribers portal with your other Trader's Classroom lessons later that day.
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