Tutorial on Newfield Exploration.
In using any indicator it is always useful to spot check its reliability on multiple time frames. While the theory of the Leibovit Volume Reversal is universal (volume precedes and accompanies price), I am always on the lookout for trading opportunities that show good correlation to the indicator. Newfiled Exploration (NFX) is one situation and it is presented this week. A Leibovit Positive VR was formed on Thursday, February 25 accompanied by a then rising 5/3/3 stochastic and the stock follow-throughed nicely on Friday.We are generally always looking for Positive VRs coming off relative lows and Negative VRs coming off relative highs. Prior, a Leibovit Negative VR formed on February 5 accompanied a declining 5/3/3 stochastic and the result was more than satisfactory. Other examples are show in the video.
If you're in the Orlando area, stop my my booth or visit my workshops between March 2-5 at the Disney Contemporary Hotel for the Money Show.
1 comment:
Loved reading this thaank you
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