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.
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.
THAT trader who can see high-confidence entries, get in and get out with
confidence — and sleep at night.
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
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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,
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delivers lasting insights that compound to change the way you trade
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As a Trader's Classroom subscriber, at least once each month, you are invited
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During these interactive lessons, you can personally ask Jeffrey your questions
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