In this short video I am going to focus on Abbott Laboratories american stock and what kind of impulses we are looking for to plan our trades. Not all impulses are supply and demand imbalances, there are very specific rules for that you can learn in our supply and demand stock course.
The long term bias on Abbott Laboratories american stock is bullish, new bullish impulses and demand levels are being created. In the supply and demand technical analysis done in the video we can see some weekly impulses and demand levels that have been created and respected since the long term bias on this american stock is bullish. As a beginner swing trader and even as en experienced swing trader, you should be looking for impulses that are strong enough to stand out in the charts, like those you can see in the technical analysis for Abbott Laboratories. This will help you locate potential trades using supply and demand imbalances.
There are three levels drawn at $77, $73 and $66 per share drawn on the weekly timeframe. Two of them have been holding price since this american stock started to rally. No matter how bad or good the latest earnings releases are, there is a big picture long bias and we should only be interested in going longs at new demand levels.
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company’s Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Meniere’s disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
Trading supply and demand imbalances is ideal for beginners and those with a full or half time job, you won’t need to stay in front of the computer all day long trying to move price action with your mind.
As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and reacts strongly to those imbalances. Why is it that you see positive earnings and then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances gaining control.
Unless you are doing very short term trading and scalping, you should not worry about fundamentals or earnings announcements.
You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for price to pullback or dip into the price levels we want to trade, in our case these price levels are made of supply and demand imbalances.
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