Noel Campbell

One of the challenges for an ABC Trader who is focussing on just a couple of markets, as opposed to running scans across larger groups of stocks, is waiting for the standard ABC set-up.

My focus on NAB has been no secret over the past couple of months. It has been a big week in the news for the bank. Seemingly deserted by all quarters.

One of the toughest challenges for a new trader is to be able to walk away from a losing trade without getting rattled. I'm sure a number of readers can relate to what I'm talking about.

Back in Trading Tutors Issue #61 I wrote about the highly thought provoking position of NAB and the price pressure point cluster we identified at the Brisbane Interactive Trading Workshop.

As I've mentioned in some recent articles, we are focussing more on delivering current trades at all of our seminars and workshops.

Aaron Lynch and I have just finished the final Interactive Trading Workshop for this round, in Brisbane. These workshops proved a tremendous success with our traders. During the Brisbane workshop as a group we came across a potentially, highly profitable set-up on the monthly chart of NAB.

Some readers may recall my recent interest in the sugar market and the potential for a large bull move in that contract during 2004. The sugar market rallied quite strongly off a low in February 2004 and topped on March 24.

In last week’s Trading Tutors article I highlighted the fact that the SPI200 had managed to run down an equal range to the last significant pullback seen in this current bull cycle. Coming off the top of 3486, the SPI200 had run down 154 points to the 3332 low.

In last week’s article I discussed the power of Pressure Points with an example on the ADJ Sector Index chart. Back in Trading Tutors Issue #46 I outlined how Pressure Points from a recent Double Bottom in the SPI200 were proving extremely influential.

Over the past week I have been doing some analysis on the various sectors of the ASX200. Sector Analysis can prove to be extremely valuable for a number of reasons. Sector Analysis breaks the overall market down into smaller, related groups, allowing you to look at what industries are leading the main trend of the ASX200.