{"id":22531,"date":"2012-12-13T23:32:08","date_gmt":"2012-12-14T04:32:08","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=22531"},"modified":"2023-05-23T16:30:52","modified_gmt":"2023-05-23T20:30:52","slug":"reversal-rehearsal-guest-post","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/reversal-rehearsal-guest-post","title":{"rendered":"&#8220;Reversal Rehearsal&#8221; Guest Post"},"content":{"rendered":"<p>Thanks for all the submissions regarding the DG reversal trade that occurred on December 12th. This post was written by a college student who participated in one of the SMB College Training Programs last Summer. Although the post is short and to the point I think Tim captures some of the key elements we look for in a low risk reversal trade. Tomorrow we will see a post written from a far more experienced trader.<\/p>\n<p><strong>DG Reversal Rehearsal <\/strong><br \/>\nBy Tim Palmer<\/p>\n<p>DG has been in play and offered many tradable setups during the last two days both on the long and the short side.<br \/>\nIn addition offering some excellent risk reward opportunities on Tuesday, DG also gave us some valuable information and important price levels for a second day play. 43.50 and 43 were important levels\/ inflection points.<br \/>\nWednesday DG offered opportunities on the long side to trade off these levels.<\/p>\n<p><strong>Possible long entries included<\/strong><br \/>\n1. 10:50 am. Makes a higher low and then breaks trendline. Possible long entry although stock still weak. Better to cover shorts at this point.<\/p>\n<p>2. Breaks cleanly through 43, an important level from the previous day. Nice long entry here to start a position. Gives us more confirmation that buyers are in control<\/p>\n<p>3. Consolidates below 43.50. Important level from Tuesday. Breaks cleanly above and holds. Nice long entry or great chance to add to long.<\/p>\n<p><strong>(click on charts to enlarge)<\/strong><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/12\/higher-time-fram-pic-DG.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-22533 aligncenter\" title=\"higher time fram pic DG\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/12\/higher-time-fram-pic-DG-1024x471.jpg\" alt=\"\" width=\"600\" height=\"283\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/12\/dg-lower-time-frame-chart.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-22537 aligncenter\" title=\"dg lower time frame chart\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/12\/dg-lower-time-frame-chart-1024x471.jpg\" alt=\"\" width=\"600\" height=\"283\" \/><\/a><\/p>\n<p><a href=\"http:\/\/twitter.com\/sspencer_smb\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/p>\n<p>Steven Spencer is the co-founder of SMB Capital and SMB University and has traded professionally for 16 years. His email is sspencer@smbcap.com.<\/p>\n<p>No relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thanks for all the submissions regarding the DG reversal trade that occurred on December 12th. This post was written by a college student who participated in one of the SMB College Training Programs last Summer. Although the post is short and to the point I think Tim captures some of the key elements we look for in a low risk &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/reversal-rehearsal-guest-post\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":143,"featured_media":22533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1532,8,3],"tags":[1655,4676,653,2337],"class_list":["post-22531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-guest-blog","category-steven_spencer_steves_blogs","category-technical_plays","tag-college-traders","tag-day-trading","tag-trader-training","tag-trading-mentors"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>&quot;Reversal Rehearsal&quot; Guest Post | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/reversal-rehearsal-guest-post\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&quot;Reversal Rehearsal&quot; Guest Post | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Thanks for all the submissions regarding the DG reversal trade that occurred on December 12th. This post was written by a college student who participated in one of the SMB College Training Programs last Summer. Although the post is short and to the point I think Tim captures some of the key elements we look for in a low risk ... 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