My Top 4 News Websites You Should Be Reading

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My Top 4 News Websites You Should Be Reading

Whether you trade stocks, Forex, futures, or options, you need to be up-to-date on financial news. I can’t emphasize how important it is to be aware of pending economic news announcements, or earnings reports if you are currently in an open trade. Not only will it protect you from possible financial ruin, but it can help you to capture a potentially huge windfall. News is important to both fundamental and technical traders alike.

So, here is an overview of my top online sites for news about stocks, forex, futures, and the economy. I do look for different types of information from each one, but I wanted to share my favorite ones with you:

Forexfactory (www.forexfactory.com)
This is my go-to site for economic news releases. The daily calendar gives all the major news that can affect any of the international markets, including GDP, Crude Oil inventories, Unemployment and NFP, FOMC and other world releases and reports… to name a few. Economic releases are important to keep track of, as they can dramatically affect how the market moves. Each scheduled release also has an “Impact” key that shows the expected effect the report can have on the specific region noted.

MarketWatch (www.marketwatch.com)
This is a good site for market news, especially related to stocks. The information is good to know, but remember that they are writers and not traders… so keep that in mind.

finviz – Financial Visualizations (www.finviz.com)
Great overview site for stock traders. This site gives “top 10” lists of specific pattern stocks and signals that have potential trading opportunities. It also gives a great “heatmap” which is a color-coded chart showing sector strength/weakness based on specific companies. It is also a good source for a newsfeed of headlines related to specific names. Lower on the page you can find info on Insider Trading and key Futures stats, including Forex and Bonds.

TradingView (www.tradingview.com)
TradingView is awesome. If you setup a free account, the charting is really good for a web-based application. It is so good that Hawkeye will be developing our suite of indicators specifically to run on TradingView in the near future, and we will host it on our own website, thus freeing you from the attachment to any specific platform. More about this as we get closer to the finish line. Anyway, I like this site because I can filter news based on my interests (specific stock for example). On a single screen, I can review the technical chart and beside it are all the headlines related to the stock on the chart. What a great time-saver.

Of course, there are many others, like Yahoo! Finance, Google Finance, Reuters, Bloomberg, CNBC, etc… I just highlighted my favorites. What is important is the overall sentiment you get from the major headlines and articles, not necessarily what is specifically written in the articles… remember, they are writers, not traders.

Thanks for following my blog.

Trade safe!

 


 

Join me in the next free LIVE Hawkeye Demonstration Room held every Wednesday at 9.30am EST US. You will learn more about volume and volume price analysis and see more examples and live trade setups. It is open to all.

Click this link for more information or to join us in class.

Learn to trade the Hawkeye way.

Randy Lindsey
Hawkeye Traders, LLC

You Must Learn This Entry Technique

I always preach that you are trading risk rather than a market and the example below highlights just that.

EURUSD Chart Setup

Look at the slowest time frame (bottom left). The Heat Map on the bottom stayed red, both bright and dark, throughout the whole day, indicating the bias was to the downside.

The other two time frames, especially the faster (on the right hand side), gave buy signals. But they were not elected as the slow time frame indicated too much risk.

Hawkeye Perspective

Using triple time frame entries filters the potentially negative trades and ALWAYS  keeps you the right side of the market. 

We demonstrate this and many other methods in our live demonstration room held every Wednesday, and this is open to everyone. Click this link for more information or to join us in class.

Good Fortune,

Nigel Hawkes
Hawkeye Traders

[The red arrows are for illustration only and do not form part of the software]

Who Would Have Thought It?

The Crude market is showing weakness in all time frames. If you were using Hawkeye, your positions would be extremely profitable. So let’s go and do our volume analysis using our Hawkeye tools.

Crude Monthly Chart

Crude Monthly Chart
As you can see, price was rejected by the Hawkeye Zones, and where I have placed the magenta arrow shows Hawkeye Volume indicating selling for the last two months. Great signs of crude oil weakness are evident.

Crude Weekly Chart

Crude Weekly Chart
The magenta arrow shows selling last week. The trend is down, and the bottom of the Zone at 38.50 is the next area of resistance. Again, great signs of crude oil weakness.

Crude Daily Chart

Crude Daily Chart
The story unfolds. For the last seven days sell/no-demand Volume has been dominant, and where the magenta arrow is you can see the red Trend dot has broken out of congestion to the downside.

Hawkeye Perspective

All time frames are short. The weekly bottom of Zone at 38.50 must hold or the market will be in serious danger of free fall. These are all great signs of crude oil weakness.

We demonstrate this and many other methods in our live demonstration room held every Wednesday, and this is open to everyone. Click this link for more information or to join us in class.

Good Fortune,

Nigel Hawkes
Hawkeye Traders

[The magenta arrows are for illustration only and do not form part of the software]

Get Ready for a Potentially Great Trade

Are you ready for a potentially great trade? The dollar index is breaking out of an 8-month trading range. This is happening on some of the strongest economic numbers since 2009. The Fed was requiring stronger economic data – and that arrived on Friday.

The sentiment is that there will be a rate raise at the next Fed meeting. If this is the case the dollar rally is just starting and Hawkeye will show the way.

Dollar Index Monthly Chart

Dollar Monthly Chart
We are now approaching the high that was established 8 months ago and a Hawkeye Zone at 104.13, but we require more volume to provide the market energy to breach this overhead resistance.

Dollar Index Weekly Chart

Dollar Weekly Chart
Price is now in a Hawkeye Zone, with the top side being 101.45. However, attendant volume is not rising, which it needs to do to be able to break out to the upside.

Dollar Index Daily Chart

Dollar Daily Chart
Now this really tells us the story: Good increasing daily volume on a Hawkeye Wide Bar on Friday. As a result, price should retrace back into the Wide Bar in the early part of the week.  Then, look for volume to push price up to the Hawkeye Zones area

Hawkeye Perspective

A potentially great trade is in the making. If 101.45 is breached we should be on our way to a substantial Dollar rally, and a potentially great trade. Overhead resistance has to be taken out, so no maverick trades please. But have this on the radar as a potentially extremely profitable trade is being set up.

And remember, if the dollar goes up look to a short bond trade… yet another potentially great trade.

We demonstrate this and many other methods in our live demonstration room held every Wednesday, and this is open to everyone. Click this link for more information or to join us in class.

Good Fortune,

Nigel Hawkes
Hawkeye Traders

[The magenta arrows are for illustration only and do not form part of the software]

Which Market Shall I Trade?

I often get asked which is the best market to trade; my reply is Bonds. They are world’s largest market by volume of trades (contracts), and have extended trends. As always, look for the longer time frames and here Hawkeye’s Gearbox does the trick.

Bonds – Yellow Time Frame

Bonds Hawkeye GearBox Yellow Timeframe

Here, on the left of the chart, you can see the Hawkeye Gearbox producing the correct tick speed to set your charts to every day, and below is the Gearchanger showing you during the day which speed to trade i.e. yellow = the yellow tick speed etc.

Now look at the chart, you can clearly see where the magenta arrows are indicating where to go short with a full Hawkeye setup.

Bonds – Red Time Frame

Bonds Hakweye GearBox Red Timeframe
The magenta arrows show Hawkeye entries. There is a minus trade (indicated by the cyan arrow), but students of 6 ways a market moves would probably exit when the price entered the congestion zone (indicated by the red circle)

Hawkeye Perspective
Bonds give extended trends. And Hawkeye, using the yellow and red tick speed, gives many swing trade positions

We demonstrate this and many other methods in our live demonstration room held every Wednesday, and this is open to everyone. Click this link for more information or to join us in class.

Good Fortune,

Nigel Hawkes
Hawkeye Traders

[The cyan and magenta arrows are for illustration only and do not form part of the software]

Is this the start of US Dollar strength?

The euro had a break down on Thursday and Friday. Why? Well, Europe is a mess – with the huge number of immigrants from the Middle East, the European Central Bank hinting at more QE, and exceptionally high unemployment.

Technically? Well, let’s look at the charts, starting with the EURUSD monthly.

EURUSD Monthly

Since July 2014, there has been selling volume (indicated by the lower magenta arrow) as price exited the Hawkeye Zones (the upper magenta arrow), red selling volume continued and Hawkeye Trend went to bearish.

EURUSD Weekly Chart

In the weekly chart we can see that since early August the euro has been in congestion (indicated by the cyan arrow), price went to the Hawkeye stops (indicated by the magenta arrow) – which, as I have pointed out many times, is an area of resistance.

On Friday Hawkeye showed selling volume, and is now indicating a further bias to the downside.

EURUSD Daily Chart
The daily chart shows us how price has tested the Hawkeye Zones and been rejected (indicated by the upper magenta arrows), volume has been short all week (indicated by the lower magenta arrow), and the Wide Bar (indicated by the yellow arrow) has been taken out with a lower close on Friday.

Hawkeye Perspective
Weakness across all time frames. Look for support at the Zone areas shown on all time frames, but a test of the monthly Hawkeye Zone area is on the cards.

We demonstrate this and many other methods in our live demonstration room held every Wednesday, and this is open to everyone. Click this link for more information or to join us in class.

Good Fortune,

Nigel Hawkes
Hawkeye Traders
Understanding Price and Volume: Now that’s trading!

[The cyan and magenta arrows are for illustration only and do not form part of the software]

Hawkeye Tips for Consistent Trading Success.

Digital-vs.-Analog-free-license-CC0
Below are some “tried and true” Tips we use for consistent trading success.

  1. Clear your head before you start trading . Keep yourself well hydrated with clean fresh water. If you are really having a bad day, don’t trade.
  2. Take a step away until you are able to come back with a clear mind.
  3. Take a moment and think about your trades before you execute. You will need lot of patience to wait for the right setups. A good trade is worth waiting for.
  4. Focus on the quality of trades, not quantity of trades. Trade less, but win more!
  5. Use a trade journal. It serves as a tool to reveal past mistakes and enables you to identify weaknesses or strengths in your day-to-day trading. Without an accurate trade journal, common mistakes are often repeated.
  6. Develop a trading plan that works with your trading style and stick to it. Understand it is YOU making the mistakes not the market and not your indicators! Practice and strive for FLAWLESS EXECUTION.
  7. Trust your setups. Don’t abandon the weeks and months of work invested in building your trading plan. If you start doubting your signals or trades, go back to a simulated account until you build the confidence you need to trade your plan successfully. Once you begin to “cherry pick” your trades, you are done for.
  8. Develop multiple trading strategies for varying market conditions. For example, have a strategy for trading trending markets, and have a different strategy for choppy market conditions.
  9. Be flexible and practice trading multiple markets. This will broaden your trading skills and present you with more trading opportunities.
  10. Read the news of the day before you start trading, and know when major news events are being announced so you are not caught in a trade during an announcement.
  11. Practice sound money management principles. Begin small and don’t increase your lot size until you have earned the right to do so. You earn the right to increase your lot size by showing consistent trading profits.
  12. Never add to a losing position (unless that is part of your strategy).
  13. Pactice your trading plan in a simulated account until you are consistently successful for a minimum of 3 weeks. Adjust it as necessary until you prove that you can show weekly profits for 3 straight weeks minimum.
  14. Remember that trading is your business profession. Give yourself time to learn the skills needed to get the job done.
  15. Find a good trading “buddy” to help you focus on success, and help keep you accountable to following your trading plan.

We demonstrate this and many other methods in our live demonstration room held every Wednesday, and this is open to everyone. Click this link for more information or to join us in class.

Good Trading,

Randy Lindsey
Hawkeye Traders
Understanding Price and Volume: Now that’s trading!

Volume is King When Trading Gold.

Some weeks ago, Hawkeye alerted you to the fact that although all the pundits were talking gold up, the Hawkeye Volume algorithm was showing weakness. Let’s look at the charts.

Weekly Gold Chart
Weekly Gold ($GC) trend.

Chart 1 Weekly Gold

Hawkeye has been short since last November at $1,684 (see red arrow above).

Daily Gold ($GC) chart showing possible entries using Hawkeye.
Daily Gold ($GC) chart showing possible entries using Hawkeye.

Chart 2 Daily Gold

The three red arrows show where you could have entered fabulous trades using the Hawkeye Roadkill indicator. With gold in a strong downtrend, the Hawkeye Roadkill identified three possible entries on April 13, May 17 and June 18 that would’ve generated substantial profits!

The Hawkeye Perspective

The market is in a major downtrend. The next major resistance price level is $1,020. Expect to see a major price move to the downside on high volume followed by a narrow bar with light volume.

Remember: markets don’t continue down on light volume so we must wait to see the above profile then expect an explosive up move form this heavily oversold position.


Hawkeye Education

Trading any market without education on the six ways the market moves is like walking into a casino with a stack of dollars – you’re relying on luck rather than a methodology.

Learn the “Six Ways a Market Moves,” the key to being a great trader, at the next Special 2 1/2-day Hawkeye Seminar in Santa Ana, CA on September 21-23, 2013.

Click here to express your interest in the seminar.

Hawkeye Live Training Room Video Updates

The Free Hawkeye Live Training Room is held every Thursday from 8am – 11am US EST. We have an archive of past Training Room recordings available in case you wish to view them offline with some fresh popcorn and your iPad. Please use the following link to view the video. All future presentations will be posted in this same location. 

View the Recorded Video Now!

Please let me know if you have any questions, and I hope you enjoy the presentation. 

Good trading, 

Randy Lindsey 
Hawkeye Traders

Don’t fall for the Apple hype… yet.

If you’re fueled by high expectations of Apple stock, Hawkeye is here to deflate the Apple-hype balloon.

While the iPhone maker has seldom reported negative figures in a decade, this week, Apple revealed typical congestion and a pause in downtrend.

For there to be a new weekly uptrend, the stock would have to break above $466. Refer to the following chart for the continued discussion:

$AAPL monthy chart shows narrow bars on low volume - an indication of accumulation.
$AAPL monthy chart shows narrow bars on low volume – an indication of accumulation.

Point 1
On this particular day, the daily shows declining volume which translates to stopping volume in the existing weekly and monthly downtrend.

Also, the daily trend dot is rolling over showing lack of momentum.

Point 2
The weekly trend does not show advancing volume, therefore negating a probable uptrend.

Point 3
The monthly chart shows narrow bars on low volume; this normally indicates accumulation which will manifest on the faster timeframes as it develops.

In conclusion, there is too much risk to take a new long till increased buying volume occurs on the weekly chart.

Wait for a low risk entry when the daily and weekly indicate a new uptrend or short when the daily resumes in the direction of the weekly and monthly trend, both low-risk entries.

Everyone went crazy over Gold, but not Hawkeye!

With the crisis in Cyprus unfolding, every pundit and novice commentator was calling gold to new highs. However, the Hawkeye system was in opposition, as the only true leading indicator — volume — did not confirm. The Hawkeye Volume indicator was built on Volume Spread Analysis, and is quite complex… but we made the display very simple and intuitive, using only three colors to identify the presence of buying, selling or neutral volume in the market.

The power of Volume Spread Analysis is revealed in Gold.
The power of Volume Spread Analysis is revealed in Gold.

 

Refer to the chart above for the discussion that follows:

1. Although the daily went into an uptrend (green trend dots),
2. notice there was no confirmation of either green buying volume or green trend from our unique Roadkill indicator, showing us what the weekly time frame was doing… neutral volume and red down trend.
3. A pivot low (yellow dot) with 2 bars of buying volume pushes market up 3 bars in an overall down trend.
4. LOW RISK ENTRY: a pivot yellow dot formed, and neutral volume followed by selling volume pushes market down, and it closed down $25.30 on the week.

Warning:
The weekly volume from the previous week was green, but the close was less than the open showing weak conviction. At the end of the week, April 12, 2013 was a widebar (twice average true range x 20 bars). The close was in the bottom 40% of the range. This confirmed the Hawkeye weekly trend that has been place since November 2, 2012.

Remember the Hawkeye widebar rule: we now expect the market to consolidate hereuntil there is a weekly close lower than this widebar.

This is the power of Volume Spread Analysis!

Hawkeye Live Training Room Videos

The Hawkeye Live Training Room is held every Thursday from 8am – 11am EST. We have an archive of past Training Room recordings available in case you wish to view them offline with some fresh popcorn and your iPad. Please use the following link to view the video. All future presentations will be posted in this same location. 

View the Recorded Video Now!

Please let me know if you have any questions, and I hope you enjoy the presentation. 

Good trading, 

Randy Lindsey 
Hawkeye Traders

Forecast for the GBP/JPY

gbp/jpy daily chart
GBP/JPY – Daily Chart

With the US markets closed today for the annual Thanksgiving holiday, focus in the currency markets has centered around the Japanese Yen once again, as money flows continue to move into other currencies ahead of the Japanese elections in December. Both the USD/JPY and several of the cross currency pairs have seen sharp moves higher, with the GBP/JPY one of these, and climbing on the daily chart once again today, following yesterday’s wide spread up bar, which added further impetus to the move.

Following the breakout above the 130.00 price level, the bullish trend is now firmly established, with both the daily and three day trends firmly established. The Hawkeye Heatmap has also returned to bullish, following a period of transition, and with sustained and rising buying volumes on the daily chart, supported by buyers on the three day chart, the outlook for the GBP/JPY remains very positive. Finally of course, Hawkeye has delivered a conservative entry signal this week giving a solid entry for longer term trend traders in this currency pair.

Oil continues to trade in congestion

oil futures chart
January WTI Oil Futures – Daily Chart

January oil futures closed marginally higher yesterday, closing the oil trading session at $87.38 per barrel, having touched an intraday high of $87.89 per barrel, before ending the oil trading session just 10 cents per barrel higher. The current lack of direction for crude oil has been a feature of many markets over the last few weeks, as commodities in general trade in a consolidation phase as we move towards the year end, with the price congestion for oil clearly defined by the pivots above and below this current range.

To the upside, we have two isolated pivot highs, just below the $90 per barrel level, and below, two isolated pivot lows in the $85 per barrel price area, which define the limits of the current congestion phase. The most recent of these was on Tuesday, which is pushing the market lower as a result.

The Hawkeye widebar of early November was never validated, suggesting a lack of downside momentum, with the market pulling back to trade within the spread of the bar and failing to continue the bearish trend, with the daily trend now in transition to white. The three day trend however remains firmly bearish, with no transition as yet, and supported by heavy selling volumes in this time frame.

On the daily chart buyers have returned, but counterbalanced by yesterday’s rising selling volume in a narrow spread day. The Hawkeye Heatmap is in transition from bearish to bullish, but has yet to complete the full cycle, and the key now for the oil market, is whether we see a break above or below the current congestion. For a move higher, the $90 per barrel level is now key, and if this holds then we can expect to see a retest of the deep price congestion in the $92 per barrel area and beyond. A break below the $85 region, could see the market sell of sharply again, and test the $78 per barrel level in due course. As always, Hawkeye will reveal the future direction of the market, using volume as the only leading indicator.

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