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Halliburton (HAL): What A High-Confidence Trade Setup Looks Like

See what helped some traders anticipate Halliburton’s recent surge to 10-month highs

by Nico Isaac
Updated: January 18, 2018

Let me ask you something:

Would you buy a house based solely on how it looked from the outside?

Would you fly to a remote, unknown vacation spot on a single positive review?

Would you marry someone after seeing them once?

Here's what I'm getting at: Would you make any important decision after having only one detail to go on? For most people, the answer is, "of course not!" And yet, investors and traders often choose a financial market based on a single set of data -- only to be surprised when prices don't go their way.

For our senior market analyst and Trader's Classroom instructor Jeffrey Kennedy, more is more when it comes to identifying a winning trade on a price chart. In Jeffrey's own words:

"I like to incorporate multiple tools. I think that makes for a more compelling case and gives me more confidence in taking a position to the buy or sell side."

Last year, in his December 12, 2017 Trader's Classroom video lesson, Jeffrey put this strategy to the test on a real-world price chart of one of the world's largest companies, Halliburton (ticker symbol HAL). There Jeffrey identified not one, not two, but four pieces of evidence that constituted a high-confidence trade set-up to the upside.

  • An inverted head-and-shoulders price pattern
  • A bullish momentum divergence in the Relative Strength Index
  • A bullish Japanese candlestick configuration
  • And, two potentially bullish Elliott wave patterns

As for the Elliott wave interpretations, Jeffrey made these delineations:

  • A smaller advance in wave (C) to above 48, or --
  • If prices broke "above the upper boundary line of the base channel,"; a more "aggressive" third wave rally would propel prices much higher, to 53.72

From there, prices followed the more aggressive script, breaking above the base channel to above 50. Once that happened, in his January 4, 2018 Trader's Classroom lesson, Jeffrey revisited Halliburton's price chart to confirm the stock's third wave rally toward 53.

Take a minute now to watch a clip from Jeffrey's December 12 and January 4 Trader's Classroom of Halliburton. Simply press play and enjoy!

 

The chart below shows where Jeffrey's Trader's Classroom analysis occurred alongside Halliburton's powerful rally to 10-month highs.

HalChart

This is where you might expect us to say that technical analysis is 100% accurate, all of the time. The reality is, no method of financial forecasting is foolproof.

But, as Jeffrey Kennedy likes to say, technical studies, and Elliott wave analysis specifically, are "pretty awesome" at identifying high-confidence trade set-ups and for providing critical price levels to help minimize risk.

Become THAT trader who can see high-confidence entries, get in and get out with confidence — and sleep at night.

Picture this...

Several times a week, you meet with a market veteran and he's one of the most sought-after teachers in the world. He has dedicated his entire professional career to helping traders like you spot and act on high-confidence trade setups.

At every meeting, you watch over his shoulder as he shows you exactly how to spot your market opportunity. And he doesn't just teach principles. He uses real-life market opportunities to show you the telltale signs that a market is about to move. He also coaches you on how to create your trading plan for this setup — including how to estimate upside potential and identify risk-limiting price levels.

Sound like an ideal fantasy? Well...

THAT is exactly what Jeffrey Kennedy is offering you as a Trader's Classroom subscriber!


Here's How Trader's Classroom Helps You Trade With Confidence:

3 times a week, Jeffrey uploads an exclusive 10-15 minute video for you to the Trader's Classroom subscriber area. While each lesson is not a big time commitment, it's packed with trading insights that you can instantly apply to any market. And any time frame. And you can watch and re-watch the lesson as many times as you like.

Today's lesson might be a valuable insight into a historic market setup in Gold... Tomorrow it might be an immediate trade setup in Google. In the past month alone, Jeffrey has taught valuable trading lessons using NKE, AAPL, BAC, JNJ, JPM, FB, QQQ and many more... Whatever it is, each Trader's Classroom lesson delivers lasting insights that compound to change the way you trade forever.

Would you like to have Jeffrey mentor you? Don't miss this risk-free offer...


This Offer Gives You Everything You Need to Launch Your Elliott Wave Trading Journey

Years from now, you'll look back on the next three months as a pivotal point in your trading approach. The learning track we've designed for you includes real-time mentoring, plus four self-paced trading resources. This package would normally cost $482. But today, you can get it for $147.

Here's what you get...


You Get: Ongoing Real-Time Mentoring

Three months of Jeffrey Kennedy's Trader’s Classroom

Over the next three months, Jeffrey Kennedy is your opportunity-seeking Sherpa. He will show you opportunities and dangers in the markets. In fact, as soon as you order, you get instant access to the last three months of lessons! Some of the opportunities highlighted in these lessons are still unfolding.

Plus: A Self-Paced Learning Track

Four trader resources hand-picked from our educational library — a $286 value

Together, these 2 books and 2 online courses combine to offer the best foundation and reference guides for Elliott wave traders.


 

1
The Foundations

To start, you get Elliott Wave Principle - Key to Market Behavior (a $29 value). This definitive guide to Elliott wave analysis will be your roadmap and reference guide from here on.

 

2
Spot Opportunities

Next, the Visual Guide to Elliott Wave Trading (a $60 value) gives essential insights on how to incorporate Elliott wave analysis into your trading style.

 

3
Develop Trading Plan

Then, put down the books and head to a screen, for two online courses. In The Wave Principle Applied Online Course (a $99 value), Jeffrey Kennedy shows you how to spot an actionable pattern and formulate a trading strategy.

 

4
Kennedy Channeling

And finally, get unique insights with The Kennedy Channeling Technique Online Course (a $98 value), and learn about an invaluable tool that helps give more confidence to your waves counts.


Bonus: New LIVE Trader's Classroom Lessons Every Month

As a Trader's Classroom subscriber, at least once each month, you are invited to join Jeffrey Kennedy LIVE online for an interactive Trader's Classroom lesson. During these interactive lessons, you can personally ask Jeffrey your questions about the day's lesson, get his responses in real time, and benefit from other subscribers' comments and questions, as well. And don't worry if you're unable to make the live events: We'll post recordings in your subscribers portal with your other Trader's Classroom lessons later that day.

Start Your Risk-Free Subscription Now

Three months of Trader's Classroom, plus four essential trader resources (a $433 Value):
$147