T2W Trading Community

Getting in sync with the market

The crucial layer we add to our candlestick charting is getting in sync with the main market and market movers, primarily the NDX and QQQ. Through intricate Triple Q chart watching and pattern reading, any serious new market phase will be revealed. Using the QQQ and NDX as your market barometer can add a crucial edge to your candlestick charting. Remember that inauspicious daily chart of AAPL on the 29th of August?

If you had also been following the QQQ in conjunction with your individual stock analysis you would have received strong confirmation of the impending move in AAPL. The 60 minute chart showed a strong upsurge, stronger than that seen in AAPL itself at the time. The completed daily chart on the QQQ revealed a strong +BE, which only strengthened the case presented by the +BE in the lower timeframes on AAPL. Understanding the broader market flow and layering this on top of your individual chart action increases accuracy, timing and ultimately profitability.

 
The beauty of this layering is again displayed in a Google trade back on the 7th of September 2005. In the first hour after the open, Google shot up to $290, clearly rising above the previous day’s close.