WFC trade ideas
WELLS FARGO & COMPANY Strategy Hey people, WELLS FARGO & COMPANY is in a bullish momentum with the largest executed buy volume of the session and a hammer candle. Looking at the TIMEFRAME M1 we see an attempt on the part of the aborted buyers with an abnormal purchase volume issued. It's heading towards its last precedent lower to make its reversal great propability to breakout the price at the same time testing the VWAP. And the broken afterwards then it will start on the top of the breakout stabilization zone to join a new zone. We go just after the first high on the H1 with an excess on the H4 after breakout of the second stabilization zone and get to the top of the bullish channel.
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"WFC Long" Bullish will this be able to push back to $83 NYSE:WFC Like the risk/reward on this one. I know its a slow move but I feel a 1 point downside risk for a 2 to 3 point plus move to the upside is worth the risk. Resistance is at that 22 area. breaks that your back in a range it trade in for the past few months and I will be look for a move back towards that 23.02-64 area which is the top short term range. Once that level breaks more room towards that 25 resistance.
NWL WFC Part 111.2 20 I wanted to show follow-up on W FC before I take this off my watchlist... As it pertains to the prediction that I made on a previous video. I wanted to show a chart of NWL from one of my students. These two students are the reason why I post here, and it is gratifying to see their results. Believe me, with me it's all about the results, and if you had a chance to talk to my students (and you will not), if they would tell you that I have gotten upset with them from time to time, and I never hold back. This is because I'm spending the time, and my time is important to me. They are becoming very astute traders, and they both have different personalities and the details of their trading will be different, but they're organized, patient, and they are reflective of the market. There are some "experts" who say that women make better traders than men. I hate to admit this, but it's probably true. I was talking to one of my students the other day about this... why you don't see more examples of this, and her immediate answer was that women want to be more private, where his men want to tell you how good they are. I think that this is probably true, but I also believe it's because women are more likely to follow the rules, and they are more likely to trade impulsively once they understand the rules. Honestly, I don't know why you don't hear about more women being famous traders. But I do know this, there are over 1200 people who follow me and most of them would be very happy if they could trade and make the money that one of my students make. When I started posting videos here, I brought up an example of a retired female accountant who took two years to learn how to trade. She went to one of her girlfriends and said that the course had a promotional stipulation that you could invite a friend for free... And this cut the cost of the course by one half. All her friends told her not to do this. Within a few years she made well over $40 million, and has a fund which manages money for people. If you're interested in the video, I'll ask one of my students to figure out which one it was and they'll post it. I happen to know through the grapevine that one of my students did research this person... who was well known in trading circles because of her accomplishments. It's a great story. There is a site called Tastytrade and the owner of that site developed the software Sink or Swim... And I heard that he sold it for many millions of dollars.... And this woman traded through his firm making incredible amounts of money, so they followed her to make sure she wouldn't bust her account... And then some time later they interviewed her and featured her on their website. It's a phenomenal story and it should give hope to aspiring traders. She was an older woman, not wealthy, and very careful, and she studied hard. And now has a group of people that work for her.
WFC: importance of following how markets expand.10.22.20 Even if you have no interest in Wells Fargo, there are great examples here of how a market expands and contracts and the market dynamics around this that can help you in almost any market. When markets become contracted, they are much more difficult to trade. In extreme contraction can be called a coil, and these should not be traded. However, markets work themselves out of coils by attracting alternatively buyers and sellers. The video addresses this.