This Popular Retailer Could Soon Go on Sale

The best way for a trader to develop their own consistency is by developing a trading plan. [Jeff Clark's Market Minute]( This Popular Retailer Could Soon Go on Sale By Imre Gams, analyst, Market Minute If you want consistent success as a trader, you need to be consistent with how you execute your trades. Start by developing a trading plan. A trading plan is a framework that should detail every step you need to take before you push the “buy” or “sell” button. [My trading plan]( has only four simple steps, and I apply them to every single trade I take. This has led to consistent trading results. And right now, I’ve spotted an opportunity in the market that meets the criteria found in my plan. So, let’s walk through it using my four steps to success… Recommended Link [Finally, gain financial freedom in 2023 using this method]( [image]( Master Trader Jeff Clark achieved financial freedom at the young age of 42. He profited through the massive stock market crashes in 2000, 2008, and 2020 and helped thousands of people, from teachers to doctors, achieve financial freedom… some starting with as little as $100. [Watch his video here and get the name and ticker of the One Stock too.]( -- Careful Planning for a Real-Time Opportunity There’s a trade setting up in DICK’S Sporting Goods (DKS). And my analysis tells me to prepare for what could be a dramatic sell-off. So, it seems like a prime opportunity to short DKS. Let’s check out a price chart of DKS so I can show you what I mean… [(Click here to expand image)]( Here’s how I’ve filtered my analysis through my trading plan… Step 1: Trend Analysis DKS has been in an uptrend since November 17, but now it looks primed for a sharp move lower. Although DKS has rallied over 40% since its November 17 low at $98.92, there are signs that the move higher is getting weaker. Therefore, this trade plan is targeting a reversal setup in DKS. Step 2: Chart Pattern The rising wedge pattern (blue lines) is a clear sign of the weakening trend. Rising wedges are reversal patterns. The overlapping nature of the price action contained between the lines hints at underlying bearish strength building up. Step 3: Momentum Analysis The momentum signature of the Moving Average Convergence Divergence (MACD) indicator (in the bottom half of the chart) is further proof of underlying bearish strength. Take another look… [(Click here to expand image)]( Notice how the MACD peaked on January 10 and has been steadily trending lower ever since. Price action, however, continued to make new highs. This is known as bearish divergence. It’s called divergence because the MACD is trending lower while the stock’s price continued to trend higher. Eventually, price action should follow the MACD. Step 4: T.E.S.T. Timeframe: DKS rallied from its November 17 low of $98.92 to a high of $136.85 on February 6. Therefore, we can reasonably expect a decline of similar force to take up to three months. Entry: I like to trade the rising wedge by entering the market on a break of the pattern’s most recent low. In the case of DKS, that means a price of $119.50. Stop Loss: A very reasonable stop loss would be a price of $138, just slightly above the February 6 high. (Remember, we’re going short DKS. So if it starts trading higher, our losses would increase.) If the market were to trade back above this level after breaking below $119.50, then the trade idea is simply wrong. In such an instance, it makes sense to exit the trade for a controlled and minor loss and wait for the next opportunity. Target: A great minimum target when trading a rising wedge is the origin of the chart pattern. In the case of DKS, the wedge pattern originated from a price of $98.92. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. Whether I’m trading a stock like DKS, or a currency like the Japanese yen, my method for executing trades stays the same. In fact, this consistency is what has enabled me to recommend my subscribers 23 winning trades out of 24 in my forex trading advisory, [Currency Trader](. [$19 Makes Your Trading Bulletproof? (From The Man Who Doubled His Money 12 Times in 2022)]( Ultimately, how and what you trade is entirely up to you. But I encourage everyone to use this trading plan to model their own. In the coming days, I’ll be keeping an eye on DKS. Once the price action has developed further, I’ll be sure to update you here. Happy trading, Imre Gams Analyst, Market Minute Reader Mailbag In today’s mailbag, a [Currency Trader]( member thanks Imre for being part of their forex journey. Hi Imre, I’m a massive fan of yours and was an original subscriber to your previous venture which was closed shortly after it started. I’m so glad you’ve gone out of your own. You provide such great insights into forex. Your honest, “post-mortem” videos are excellent. There is nothing more captivating than to watch someone celebrate his wins – and who is also brave enough to fall on his sword if something doesn’t pan out. We always learn more through failure than we do through our wins. And keep up the awesome work. By the way, my 18- and 19-year-olds are also following me on my forex journey. You should be proud that you’re helping families build a legacy of learning and financial literacy. I keep telling them that a job is a way to be “Just Over Broke” and that they need to understand the power of investing. I tell them that knowledge and time are the most important tools to wealth. If they start early – with the right knowledge and financial foundations – they are bound to be independently wealthy. – Steven A. Thank you, as always, for your thoughtful comments. We look forward to reading them every day. Keep them coming at feedback@jeffclarktrader.com. In Case You Missed It… [30-Second Demo Reveals Why This $4 Company Is A Better Investment Than Tesla]( Tesla is an electric car company, right? Not for long… Details of [Elon Musk’s future plans for Tesla]( recently got out. And get this… Tesla is headed in an entirely new direction. Musk says it’s “probably [worth] several times that of what the car business is per year”… and it could soon be 50% of Tesla’s business. That’s because [this new trend is worth $130 trillion]( according to Forbes. But Musk isn’t the only billionaire gunning for all this money. Five billionaires are backing a tiny $4 company that could beat Tesla to the punch. It’s an epic billionaire battle with a $130 trillion grand prize. Former Goldman Sachs executive Nomi Prins recently explained what’s going on [in this video.]( It includes a 30-second demonstration that reveals why these 5 billionaires are betting against Musk, and backing this tiny $4 company instead. [Click here to watch the 30-second demo.]( [image]( Get Instant Access Click to read these free reports and automatically sign up for daily research. [The Ultimate Guide to Taking Back Your Privacy]( [THE 101 GUIDE TO PRE-IPO INVESTING]( [An Insider's Guide to Making a Fortune from Small Tech Stocks]( [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. 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