Before You Trade Candles, Know This

Dear Profit Takeover reader,

Today for the Profit Takeover show, Coach Brian King was able to join for our early Friday show.

Coach teaches a lot about creating a strong and healthy trading mindset, but he also knows his charts…

We took a look at some candles and he gave his perspective on the candle charts in CBOE and CLF.

Cboe Global Markets Inc (BATS:CBOE), owns the Chicago Board Options Exchange, where I used to trade on the floor, and the stock exchange operator BATS Global Markets.

We took a look at the candles on the Profit Revolution software: wallstreet.io, and Coach Brian walked through the huge volume he saw in these last few daily exchanges in CBOE.

He recommended if you put on a trade here, to protect your stop and know how much you are willing to lose if we don’t see the rally continue.

Cleveland-Cliffs Inc (NYSE:CLF) has gone completely parabolic over the past couple of days:

I saw some big money flow into the May regular $29 calls –

Brian noticed the doji on March 2nd…

Dojis tend to signal a change in trend – and in this case, the trend meant CLF was heading higher.

CLF might be near it’s top on this run, but I am watching this name.

Coach Brian provides two hours of training every weekday to Profit Revolution members on candles and other tips for new traders before my live shows.

Here’s what members are saying:

If you haven’t joined us yet, SIGN UP for the Profit Revolution today.

We’ve been on a winning streak lately… Take a look at some partial trades from my track record…

You can also CLICK HERE to find out more about my current trading plan.

If you sign up now, you can join me live today for the Profit Revolutionat 2:00 p.m. (ET).

Hope to see you there.

Until next time,

Mark Sebastian
Founder, Profit Takeover

Volatility Forecast

My VIX traffic light is GREEN, and it is setting up for a very ugly day.

The S&P is down about 66 points from the open as I write this.

From Yahoo Finance

A bad day today could lead to some serious ugliness on Monday.

We are at high risk of VIX going to 45 or 50.

VIX is just under 35, and this is the 11th day that VIX futures curve is in backwardation.

If today ends on a better note, we might see a brighter Monday.

As it stands, Monday could get ugly if traders’ fears grow over the weekend.

LIVE SCHEDULE (ET)

Monday 3/7: 10:30-11 a.m. Profit Takeover

Tuesday 3/8: 10:30-11 a.m. Profit Takeover

Wednesday 3/9: 10:30-11:30 a.m. Profit Takeover AND 7:00-8:00 pm Quad Witching Summit

Thursday 3/10: No Main Room Shows

Friday 3/11: 9:30-10 a.m. Profit Takeover with Brian King

TODAY’S WATCHLIST

1. Cboe Global Markets Inc (BATS:CBOE)

CBOE exchanges are making money hand over fist right now.

The market melt works to CBOE’s advantage.

We are looking for a move back to 120.

2. Exxon Mobil Corp (NYSE:XOM)

XOM is on its way to 85 as oil runs hot.

I’d look for a bullish play here.

3. Cameco Corp (NYSE:CCJ)

Uranium names will be impacted by the changes in supply.

This is an opportunity to go long in CCJ as demand grows.

---

Comments