{"id":49559,"date":"2020-01-29T16:14:53","date_gmt":"2020-01-29T21:14:53","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=49559"},"modified":"2023-06-08T10:21:34","modified_gmt":"2023-06-08T14:21:34","slug":"bull-flag-pattern-how-to-effectively-use-this-classic-pattern-to-profit","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/bull-flag-pattern-how-to-effectively-use-this-classic-pattern-to-profit","title":{"rendered":"Mastering the Bull Flag Pattern: How to Effectively Profit from This Classic"},"content":{"rendered":"

In this video for the trading community, learn how to effectively spot and then trade the classic Bull Flag pattern to profit. A proprietary trader from our firm shares in step by step detail how he used the Bull Flag technical pattern in QCOM to make a winning trade.<\/p>\nView Video Transcript<\/strong><\/span>

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in this video for the trading community<\/div>\n<\/div>\n<\/div>\n
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learn how to effectively spot and then<\/div>\n<\/div>\n<\/div>\n
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trade the classic bull flag pattern the<\/div>\n<\/div>\n<\/div>\n
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profit I’m Mike bellafiore co-founder of<\/div>\n<\/div>\n<\/div>\n
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SMB capital and we’re a proprietary<\/div>\n<\/div>\n<\/div>\n
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trading firm located in midtown<\/div>\n<\/div>\n<\/div>\n
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Manhattan and I’m also the off of the<\/div>\n<\/div>\n<\/div>\n
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trading classic one good trade in the<\/div>\n<\/div>\n<\/div>\n
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playbook<\/div>\n<\/div>\n<\/div>\n
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in this video lesson a proprietary<\/div>\n<\/div>\n<\/div>\n
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trader from our firm shares in<\/div>\n<\/div>\n<\/div>\n
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step-by-step detail how he used the bull<\/div>\n<\/div>\n<\/div>\n
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flag technical pattern and cue calm to<\/div>\n<\/div>\n<\/div>\n
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make a winning trade<\/div>\n<\/div>\n<\/div>\n
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[Music]<\/div>\n<\/div>\n<\/div>\n
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so today we’re gonna go over the Q<\/div>\n<\/div>\n<\/div>\n
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qualms dr. s volume breakout trade so<\/div>\n<\/div>\n<\/div>\n
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just very quickly with the dr. s pattern<\/div>\n<\/div>\n<\/div>\n
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is is that we see institutional buying<\/div>\n<\/div>\n<\/div>\n
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or selling on the open followed by a<\/div>\n<\/div>\n<\/div>\n
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very tight consolidation and then after<\/div>\n<\/div>\n<\/div>\n
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that we’ll see the next leg of the trade<\/div>\n<\/div>\n<\/div>\n
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on pretty decent volume so just very<\/div>\n<\/div>\n<\/div>\n
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briefly big picture overall bull markets<\/div>\n<\/div>\n<\/div>\n
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by new highs the market was slowly<\/div>\n<\/div>\n<\/div>\n
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grinding up during this time period<\/div>\n<\/div>\n<\/div>\n
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pretty much every dip was being bought<\/div>\n<\/div>\n<\/div>\n
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and then breakouts were still working<\/div>\n<\/div>\n<\/div>\n
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during this time period the reason for<\/div>\n<\/div>\n<\/div>\n
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the Q calm move in the morning was<\/div>\n<\/div>\n<\/div>\n
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presumably a city upgrade and just<\/div>\n<\/div>\n<\/div>\n
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overall the spy was rallying and we saw<\/div>\n<\/div>\n<\/div>\n
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just kind of the volume come through so<\/div>\n<\/div>\n<\/div>\n
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just the intraday fundamentals<\/div>\n<\/div>\n<\/div>\n
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institutional buying right on the open<\/div>\n<\/div>\n<\/div>\n
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and then there was a bull that pattern<\/div>\n<\/div>\n<\/div>\n
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that was very tight and there was no<\/div>\n<\/div>\n<\/div>\n
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volume on the downside this is a classic<\/div>\n<\/div>\n<\/div>\n
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bull flag pattern and it was showing us<\/div>\n<\/div>\n<\/div>\n
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that the institutions were supporting<\/div>\n<\/div>\n<\/div>\n
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the stock there’s some quick stats the<\/div>\n<\/div>\n<\/div>\n
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ATR was is 1.9 the average alarms is a<\/div>\n<\/div>\n<\/div>\n
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7.9 million our ball was three so this<\/div>\n<\/div>\n<\/div>\n
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was elevated there’s basically no short<\/div>\n<\/div>\n<\/div>\n
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float and the institutional ownership is<\/div>\n<\/div>\n<\/div>\n
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eighty percent which so you read about<\/div>\n<\/div>\n<\/div>\n
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these these these banners these<\/div>\n<\/div>\n<\/div>\n
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technical patterns this is really a<\/div>\n<\/div>\n<\/div>\n
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classic bull flag pattern we really have<\/div>\n<\/div>\n<\/div>\n
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a live example of that I believe so we<\/div>\n<\/div>\n<\/div>\n
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captured it yes so just very briefly be<\/div>\n<\/div>\n<\/div>\n
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a daily chart we see that it’s breaking<\/div>\n<\/div>\n<\/div>\n
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out to new highs for the year<\/div>\n<\/div>\n<\/div>\n
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I’m good volume so overall this<\/div>\n<\/div>\n<\/div>\n
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definitely sets up well for a follow<\/div>\n<\/div>\n<\/div>\n
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through throughout the whole day and<\/div>\n<\/div>\n<\/div>\n
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then as far as the actual pattern that<\/div>\n<\/div>\n<\/div>\n
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we see we can see that there was a<\/div>\n<\/div>\n<\/div>\n
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strong move off the open that was on<\/div>\n<\/div>\n<\/div>\n
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strong volume and then during this<\/div>\n<\/div>\n<\/div>\n
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entire period of consolidation there was<\/div>\n<\/div>\n<\/div>\n
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effectively no real spikes in volume so<\/div>\n<\/div>\n<\/div>\n
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the the flag being this extension higher<\/div>\n<\/div>\n<\/div>\n
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or the board this year the leg being<\/div>\n<\/div>\n<\/div>\n
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Poul yes I don’t whatever you want to<\/div>\n<\/div>\n<\/div>\n
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call it being the this move up here the<\/div>\n<\/div>\n<\/div>\n
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flag here and then the breakout on one<\/div>\n<\/div>\n<\/div>\n
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of the strongest volume bar days of the<\/div>\n<\/div>\n<\/div>\n
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trading session would constitute the<\/div>\n<\/div>\n<\/div>\n
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breakout<\/div>\n<\/div>\n<\/div>\n
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I’m just really this definitely sets up<\/div>\n<\/div>\n<\/div>\n
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well because you can have a pretty tight<\/div>\n<\/div>\n<\/div>\n
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stop realistically like the stop for<\/div>\n<\/div>\n<\/div>\n
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this trade should be right below the<\/div>\n<\/div>\n<\/div>\n
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bottom of the flag if this actually<\/div>\n<\/div>\n<\/div>\n
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follows through it’s possible to even<\/div>\n<\/div>\n<\/div>\n
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say that it shouldn’t come back below 94<\/div>\n<\/div>\n<\/div>\n
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but that kind of depends on your trading<\/div>\n<\/div>\n<\/div>\n
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style and yeah so we’re gonna go over as<\/div>\n<\/div>\n<\/div>\n
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well as the trade management as well as<\/div>\n<\/div>\n<\/div>\n
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what we saw on the tape let’s just go<\/div>\n<\/div>\n<\/div>\n
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back to the flag this really is one of<\/div>\n<\/div>\n<\/div>\n
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those classic technical setups so we’re<\/div>\n<\/div>\n<\/div>\n
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doing it on intraday as opposed to maybe<\/div>\n<\/div>\n<\/div>\n
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a daily chart but also where are we with<\/div>\n<\/div>\n<\/div>\n
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Q come on a longer-term chart so we are<\/div>\n<\/div>\n<\/div>\n
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right here<\/div>\n<\/div>\n<\/div>\n
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it was around 94 so there was kind of<\/div>\n<\/div>\n<\/div>\n
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like a gap from arguably a consolidation<\/div>\n<\/div>\n<\/div>\n
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pattern we are pressing up against prior<\/div>\n<\/div>\n<\/div>\n
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highs and given the strong volume on the<\/div>\n<\/div>\n<\/div>\n
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day that would be a good sign that we<\/div>\n<\/div>\n<\/div>\n
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could break those ties so the second<\/div>\n<\/div>\n<\/div>\n
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part of this tray would be once you<\/div>\n<\/div>\n<\/div>\n
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cleared this level which was<\/div>\n<\/div>\n<\/div>\n
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approximately ninety four as well then<\/div>\n<\/div>\n<\/div>\n
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Li you should get follow-through and<\/div>\n<\/div>\n<\/div>\n
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buying because we’ve kind of cleared<\/div>\n<\/div>\n<\/div>\n
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that all that volume and just kind of<\/div>\n<\/div>\n<\/div>\n
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the resistance that was present in it<\/div>\n<\/div>\n<\/div>\n
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let’s go back to the bull flag and so<\/div>\n<\/div>\n<\/div>\n
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where are we in terms of price with the<\/div>\n<\/div>\n<\/div>\n
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flag so the flag was taking place<\/div>\n<\/div>\n<\/div>\n
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between 93 60 and 90 for the breakout<\/div>\n<\/div>\n<\/div>\n
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was 90 for the opening price was a<\/div>\n<\/div>\n<\/div>\n
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little bit below 93 so the measure moved<\/div>\n<\/div>\n<\/div>\n
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for this which is one way where you can<\/div>\n<\/div>\n<\/div>\n
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actually set up price targets would be<\/div>\n<\/div>\n<\/div>\n
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to take this extension and then add<\/div>\n<\/div>\n<\/div>\n
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to the breakout so realistically this<\/div>\n<\/div>\n<\/div>\n
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was approximately a $1 move so then you<\/div>\n<\/div>\n<\/div>\n
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can say that a price target for this<\/div>\n<\/div>\n<\/div>\n
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breakout would be 95 so if you were to<\/div>\n<\/div>\n<\/div>\n
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of let’s say bought this right at 94<\/div>\n<\/div>\n<\/div>\n
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once it broke which was what my trade<\/div>\n<\/div>\n<\/div>\n
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was and put the stop I around 93 60 or<\/div>\n<\/div>\n<\/div>\n
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70 it’s risking around 30 cents and the<\/div>\n<\/div>\n<\/div>\n
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ultimate target on this trade was $1 so<\/div>\n<\/div>\n<\/div>\n
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I don’t know 3 the 1<\/div>\n<\/div>\n<\/div>\n
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yeah and just for the newest guys in the<\/div>\n<\/div>\n<\/div>\n
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room why does a bull flag work what is<\/div>\n<\/div>\n<\/div>\n
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that saying about the overall strength<\/div>\n<\/div>\n<\/div>\n
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or weakness of the stock and and and<\/div>\n<\/div>\n<\/div>\n
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what it’s saying is so you know bull<\/div>\n<\/div>\n<\/div>\n
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flag is we have a nice move up we have a<\/div>\n<\/div>\n<\/div>\n
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good price push to the upside we have a<\/div>\n<\/div>\n<\/div>\n
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good price push to the upside on<\/div>\n<\/div>\n<\/div>\n
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elevated volume okay and you know so<\/div>\n<\/div>\n<\/div>\n
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that’s that flag part that max is<\/div>\n<\/div>\n<\/div>\n
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pointing out and so that and of itself<\/div>\n<\/div>\n<\/div>\n
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is indicating there’s a lot of by<\/div>\n<\/div>\n<\/div>\n
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interest the elevated volume and the<\/div>\n<\/div>\n<\/div>\n
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actual pole the price movement is<\/div>\n<\/div>\n<\/div>\n
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showing increased interest in the name<\/div>\n<\/div>\n<\/div>\n
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okay so there’s that first part and then<\/div>\n<\/div>\n<\/div>\n
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so when you have something that goes up<\/div>\n<\/div>\n<\/div>\n
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a bunch and goes up a bunch on high<\/div>\n<\/div>\n<\/div>\n
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volume how can how does it normally<\/div>\n<\/div>\n<\/div>\n
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react how does a stock after it has a<\/div>\n<\/div>\n<\/div>\n
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big push up normally react<\/div>\n<\/div>\n<\/div>\n
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yeah pulls it it pulls in a bunch and so<\/div>\n<\/div>\n<\/div>\n
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if you have this flag pattern where the<\/div>\n<\/div>\n<\/div>\n
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stocks not really pulling in much and<\/div>\n<\/div>\n<\/div>\n
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not only is it not pulling in much but<\/div>\n<\/div>\n<\/div>\n
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it’s not actually even getting below a<\/div>\n<\/div>\n<\/div>\n
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particular level as its pulling in and<\/div>\n<\/div>\n<\/div>\n
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it’s going sideways what that’s telling<\/div>\n<\/div>\n<\/div>\n
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you and the reason why this is a pattern<\/div>\n<\/div>\n<\/div>\n
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worth looking at is that there was by<\/div>\n<\/div>\n<\/div>\n
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interest and it’s not in any way pulling<\/div>\n<\/div>\n<\/div>\n
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in as much as we thought which means<\/div>\n<\/div>\n<\/div>\n
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there’s potentially more buy interest<\/div>\n<\/div>\n<\/div>\n
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there’s probably more buy interest or<\/div>\n<\/div>\n<\/div>\n
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else it would have pulled in more that’s<\/div>\n<\/div>\n<\/div>\n
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not the way stocks normally act it’s<\/div>\n<\/div>\n<\/div>\n
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it’s acting very strongly so we’re not<\/div>\n<\/div>\n<\/div>\n
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just presenting this technical<\/div>\n<\/div>\n<\/div>\n
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as an intellectual exercise there’s a<\/div>\n<\/div>\n<\/div>\n
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reason why this can be an effective<\/div>\n<\/div>\n<\/div>\n
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pattern there’s a there’s a reason based<\/div>\n<\/div>\n<\/div>\n
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on the price and the volume action and<\/div>\n<\/div>\n<\/div>\n
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the pullin action why this is a powerful<\/div>\n<\/div>\n<\/div>\n
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pattern alright they’re the buyers are<\/div>\n<\/div>\n<\/div>\n
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leaving footprints to you with this<\/div>\n<\/div>\n<\/div>\n
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technical pattern that this is more<\/div>\n<\/div>\n<\/div>\n
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likely to go up from here and as Max<\/div>\n<\/div>\n<\/div>\n
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said perhaps even a measured move higher<\/div>\n<\/div>\n<\/div>\n
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but much more to go based on how it’s<\/div>\n<\/div>\n<\/div>\n
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acting and then when we add on top of<\/div>\n<\/div>\n<\/div>\n
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that the fact that it’s getting ready to<\/div>\n<\/div>\n<\/div>\n
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bust above a longer-term resistance<\/div>\n<\/div>\n<\/div>\n
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level that’s gonna add some buyers<\/div>\n<\/div>\n<\/div>\n
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buying some shorts covering and a<\/div>\n<\/div>\n<\/div>\n
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potential interesting trade yes so as<\/div>\n<\/div>\n<\/div>\n
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far as the actual trade management for<\/div>\n<\/div>\n<\/div>\n
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me I ended up only buying it on the<\/div>\n<\/div>\n<\/div>\n
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breakout but if you wanted to actually<\/div>\n<\/div>\n<\/div>\n
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go in and see what would be kind of the<\/div>\n<\/div>\n<\/div>\n
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perfect trade management it would be to<\/div>\n<\/div>\n<\/div>\n
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then go long tear one somewhere in this<\/div>\n<\/div>\n<\/div>\n
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bull flag after recognizing the pattern<\/div>\n<\/div>\n<\/div>\n
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so that way you can get a pretty good<\/div>\n<\/div>\n<\/div>\n
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average price and then once you actually<\/div>\n<\/div>\n<\/div>\n
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saw the volume as a confirmation on the<\/div>\n<\/div>\n<\/div>\n
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break to then go with tier 2 and then it<\/div>\n<\/div>\n<\/div>\n
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would be to take off that momentum tier<\/div>\n<\/div>\n<\/div>\n
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once you see a end in momentum so it<\/div>\n<\/div>\n<\/div>\n
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would be in my opinion on this red bar<\/div>\n<\/div>\n<\/div>\n
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or it could also be so on the tape<\/div>\n<\/div>\n<\/div>\n
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going into this like round number like<\/div>\n<\/div>\n<\/div>\n
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many times that you’ll see that the that<\/div>\n<\/div>\n<\/div>\n
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the offers are stacked so presumably<\/div>\n<\/div>\n<\/div>\n
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selling into a 95 would make sense as<\/div>\n<\/div>\n<\/div>\n
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well and then you would leave tier 1 on<\/div>\n<\/div>\n<\/div>\n
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as kind of a core position and for me I<\/div>\n<\/div>\n<\/div>\n
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like to use each higher lows as stops as<\/div>\n<\/div>\n<\/div>\n
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just kind of one way to manage the trade<\/div>\n<\/div>\n<\/div>\n
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if you want to learn 3 real-world setups<\/div>\n<\/div>\n<\/div>\n
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that our traders use including the<\/div>\n<\/div>\n<\/div>\n
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simple setup that we teach all of our<\/div>\n<\/div>\n<\/div>\n
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new traders and the setup that turned<\/div>\n<\/div>\n<\/div>\n
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one of our traders into a seven-figure<\/div>\n<\/div>\n<\/div>\n
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big money earner check out the free web<\/div>\n<\/div>\n<\/div>\n
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that we’re currently running just go<\/div>\n<\/div>\n<\/div>\n
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ahead and click the link that should be<\/div>\n<\/div>\n<\/div>\n
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appearing right now at the top right<\/div>\n<\/div>\n<\/div>\n
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hand corner of your screen that’s gonna<\/div>\n<\/div>\n<\/div>\n
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open up this free registration page in<\/div>\n<\/div>\n<\/div>\n
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the new window so don’t worry you’re not<\/div>\n<\/div>\n<\/div>\n
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going to lose this video you’re gonna<\/div>\n<\/div>\n<\/div>\n
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learn more in a couple of hours from<\/div>\n<\/div>\n<\/div>\n
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this trading workshop then from years of<\/div>\n<\/div>\n<\/div>\n
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online education so I actually did take<\/div>\n<\/div>\n<\/div>\n
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as more of a scalp trade this second or<\/div>\n<\/div>\n<\/div>\n
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this double bottom here and just kind of<\/div>\n<\/div>\n<\/div>\n
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like my thinking was was that this level<\/div>\n<\/div>\n<\/div>\n
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was being kind of supported overall<\/div>\n<\/div>\n<\/div>\n
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throughout the day we seeded that at<\/div>\n<\/div>\n<\/div>\n
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like momentum I like to use sometimes<\/div>\n<\/div>\n<\/div>\n
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just like MACD just to kind of gauge<\/div>\n<\/div>\n<\/div>\n
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momentum in the stock and we see that<\/div>\n<\/div>\n<\/div>\n
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this price was supported so buying as<\/div>\n<\/div>\n<\/div>\n
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we’re starting to actually see price<\/div>\n<\/div>\n<\/div>\n
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turned back up the stop was only<\/div>\n<\/div>\n<\/div>\n
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probably 20 or 25 cents and my target<\/div>\n<\/div>\n<\/div>\n
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for this was was this prior high so then<\/div>\n<\/div>\n<\/div>\n
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as we started kind of getting back into<\/div>\n<\/div>\n<\/div>\n
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this area I started closing it out my<\/div>\n<\/div>\n<\/div>\n
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thinking was that there could be some<\/div>\n<\/div>\n<\/div>\n
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sellers back at this point and at that<\/div>\n<\/div>\n<\/div>\n
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point I already captured around I think<\/div>\n<\/div>\n<\/div>\n
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it was 60 or or so since I was 20 cents<\/div>\n<\/div>\n<\/div>\n
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and around 5 6 minutes or maybe like 10<\/div>\n<\/div>\n<\/div>\n
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minutes so just overall it was smart to<\/div>\n<\/div>\n<\/div>\n
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lock in profits and it wasn’t as though<\/div>\n<\/div>\n<\/div>\n
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that the price was that absolutely<\/div>\n<\/div>\n<\/div>\n
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shooting up on very strong volume this<\/div>\n<\/div>\n<\/div>\n
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was mid day so the odds for a you know a<\/div>\n<\/div>\n<\/div>\n
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parabolic move especially given the fact<\/div>\n<\/div>\n<\/div>\n
\n
\n
that there wasn’t a huge fundamental<\/div>\n<\/div>\n<\/div>\n
\n
\n
catalyst was probably slim so that was<\/div>\n<\/div>\n<\/div>\n
\n
\n
reason for my sell going into here and<\/div>\n<\/div>\n<\/div>\n
\n
\n
just kind of what we saw on the tape was<\/div>\n<\/div>\n<\/div>\n
\n
\n
that once 94 hit the prices actually<\/div>\n<\/div>\n<\/div>\n
\n
\n
started to skip very quickly so I<\/div>\n<\/div>\n<\/div>\n
\n
\n
automatically went in right on that 94<\/div>\n<\/div>\n<\/div>\n
\n
\n
break I got in at 94 o 6 and then it<\/div>\n<\/div>\n<\/div>\n
\n
\n
quickly went to 94 24 so we actually saw<\/div>\n<\/div>\n<\/div>\n
\n
\n
a very quick jump in price and this is<\/div>\n<\/div>\n<\/div>\n
\n
\n
just something that I will remember next<\/div>\n<\/div>\n<\/div>\n
\n
\n
time that when you see that significant<\/div>\n<\/div>\n<\/div>\n
\n
\n
jump price because I mean I usually<\/div>\n<\/div>\n<\/div>\n
\n
\n
Qualcomm will trade by the penny and or<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe they’ll be Oh<\/div>\n<\/div>\n<\/div>\n
\n
\n
2 or 3 cents skip but for something like<\/div>\n<\/div>\n<\/div>\n
\n
\n
this to actually skip up 20 cents is<\/div>\n<\/div>\n<\/div>\n
\n
\n
quite significant and could be<\/div>\n<\/div>\n<\/div>\n
\n
\n
sign that he’ll actually follow through<\/div>\n<\/div>\n<\/div>\n
\n
\n
and usually a lot of selling at 94 Oh<\/div>\n<\/div>\n<\/div>\n
\n
\n
194 Oh 390 405 yeah 7 and we didn’t get<\/div>\n<\/div>\n<\/div>\n
\n
\n
that we got a nice skip all the way up<\/div>\n<\/div>\n<\/div>\n
\n
\n
to 94 24 which you know means that<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s buyers that are just running<\/div>\n<\/div>\n<\/div>\n
\n
\n
over the sellers yeah and then once we<\/div>\n<\/div>\n<\/div>\n
\n
\n
actually got to this price I think for<\/div>\n<\/div>\n<\/div>\n
\n
\n
only 30 seconds price was being<\/div>\n<\/div>\n<\/div>\n
\n
\n
supported around 94 16 17 so it was<\/div>\n<\/div>\n<\/div>\n
\n
\n
showing you that there definitely were<\/div>\n<\/div>\n<\/div>\n
\n
\n
the buyers there to actually follow<\/div>\n<\/div>\n<\/div>\n
\n
\n
through on the stock so like something<\/div>\n<\/div>\n<\/div>\n
\n
\n
that I might do next time is that if I<\/div>\n<\/div>\n<\/div>\n
\n
\n
see a name like this have that jump and<\/div>\n<\/div>\n<\/div>\n
\n
\n
volume to actually add a much larger<\/div>\n<\/div>\n<\/div>\n
\n
\n
size versus a tighter stop because IKEA<\/div>\n<\/div>\n<\/div>\n
\n
\n
retic Lee if this trade is gonna work<\/div>\n<\/div>\n<\/div>\n
\n
\n
out once again there should be almost no<\/div>\n<\/div>\n<\/div>\n
\n
\n
pullback so there should be no reason to<\/div>\n<\/div>\n<\/div>\n
\n
\n
have a stop that’s more than for this<\/div>\n<\/div>\n<\/div>\n
\n
\n
case I’m gonna probably just put it as<\/div>\n<\/div>\n<\/div>\n
\n
\n
it I don’t know when you make a good<\/div>\n<\/div>\n<\/div>\n
\n
\n
point which is a lot to talk about<\/div>\n<\/div>\n<\/div>\n
\n
\n
volume so we want to see volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
confirming a breakout but volatility<\/div>\n<\/div>\n<\/div>\n
\n
\n
confirms the breakout – so when there is<\/div>\n<\/div>\n<\/div>\n
\n
\n
either a lot of volume which is just<\/div>\n<\/div>\n<\/div>\n
\n
\n
bowling over there sellers and a stock<\/div>\n<\/div>\n<\/div>\n
\n
\n
moves more than you think it should so<\/div>\n<\/div>\n<\/div>\n
\n
\n
something gets above 94 you might say<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe it’ll go up to 94 10 and that<\/div>\n<\/div>\n<\/div>\n
\n
\n
would be a regular move and then it goes<\/div>\n<\/div>\n<\/div>\n
\n
\n
up higher that is that is of interest<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so it might be that just the volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
comes in and and and creams all the<\/div>\n<\/div>\n<\/div>\n
\n
\n
sellers but there can also just be a<\/div>\n<\/div>\n<\/div>\n
\n
\n
liquidity issue which also shows<\/div>\n<\/div>\n<\/div>\n
\n
\n
strength because it means what if<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s a price that’s bigger than you<\/div>\n<\/div>\n<\/div>\n
\n
\n
think and there isn’t necessarily the<\/div>\n<\/div>\n<\/div>\n
\n
\n
buyers crush in the the sellers and<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s making it move up what is what<\/div>\n<\/div>\n<\/div>\n
\n
\n
can that but the stock moves up a lot<\/div>\n<\/div>\n<\/div>\n
\n
\n
and maybe goes above 94 goes up to 94 94<\/div>\n<\/div>\n<\/div>\n
\n
\n
40 and you don’t necessarily see a lot<\/div>\n<\/div>\n<\/div>\n
\n
\n
of paying the offer just kind of finds a<\/div>\n<\/div>\n<\/div>\n
\n
\n
way to get there what does that also<\/div>\n<\/div>\n<\/div>\n
\n
\n
mean so you get that volatility move<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s up 30 cents more than you thought<\/div>\n<\/div>\n<\/div>\n
\n
\n
and when there’s an absent sellers<\/div>\n<\/div>\n<\/div>\n
\n
\n
it means the sellers are interested in<\/div>\n<\/div>\n<\/div>\n
\n
\n
selling here<\/div>\n<\/div>\n<\/div>\n
\n
\n
okay that could be that can be good to<\/div>\n<\/div>\n<\/div>\n
\n
\n
that so it’s volatility and it’s volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
very important to notice around<\/div>\n<\/div>\n<\/div>\n
\n
\n
important areas of the volatility<\/div>\n<\/div>\n<\/div>\n
\n
\n
particularly when you’re thinking about<\/div>\n<\/div>\n<\/div>\n
\n
\n
buying the pullin when you get more<\/div>\n<\/div>\n<\/div>\n
\n
\n
volatility that’s gonna get me more<\/div>\n<\/div>\n<\/div>\n
\n
\n
interested in buying the pullin when you<\/div>\n<\/div>\n<\/div>\n
\n
\n
get more volume that’s gonna get me more<\/div>\n<\/div>\n<\/div>\n
\n
\n
interested in buying the pullin when you<\/div>\n<\/div>\n<\/div>\n
\n
\n
get both that’s gonna get me even more<\/div>\n<\/div>\n<\/div>\n
\n
\n
interested okay but volatility is<\/div>\n<\/div>\n<\/div>\n
\n
\n
important yeah so besides that just kind<\/div>\n<\/div>\n<\/div>\n
\n
\n
of seeing how there was support pretty<\/div>\n<\/div>\n<\/div>\n
\n
\n
much from 94 through 95 so basically<\/div>\n<\/div>\n<\/div>\n
\n
\n
every few cents that the stock would dip<\/div>\n<\/div>\n<\/div>\n
\n
\n
it would then just jump right back up so<\/div>\n<\/div>\n<\/div>\n
\n
\n
like that can also serve as kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
confirmation for this breakout theory<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then for the traders on the desk<\/div>\n<\/div>\n<\/div>\n
\n
\n
that were trading this we were all<\/div>\n<\/div>\n<\/div>\n
\n
\n
speaking while this trade was going on<\/div>\n<\/div>\n<\/div>\n
\n
\n
and we were all just kind of pointing<\/div>\n<\/div>\n<\/div>\n
\n
\n
out different things that we saw on the<\/div>\n<\/div>\n<\/div>\n
\n
\n
tape so being able to have multiple eyes<\/div>\n<\/div>\n<\/div>\n
\n
\n
following this trade definitely made<\/div>\n<\/div>\n<\/div>\n
\n
\n
this easier to actually stay in and<\/div>\n<\/div>\n<\/div>\n
\n
\n
follow through to the upside because<\/div>\n<\/div>\n<\/div>\n
\n
\n
there is so much communication yeah<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s why I wanted to talk about this<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade correct me if I’m wrong I remember<\/div>\n<\/div>\n<\/div>\n
\n
\n
you guys teeing this up this 94 level up<\/div>\n<\/div>\n<\/div>\n
\n
\n
in the am meeting did I remember that<\/div>\n<\/div>\n<\/div>\n
\n
\n
correctly vaguely think so yes but but<\/div>\n<\/div>\n<\/div>\n
\n
\n
also just kind of our filters as well<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re all picking this up because of our<\/div>\n<\/div>\n<\/div>\n
\n
\n
wall so that we actually saw the follow<\/div>\n<\/div>\n<\/div>\n
\n
\n
through and then we were definitely<\/div>\n<\/div>\n<\/div>\n
\n
\n
discussing it before the 94 break during<\/div>\n<\/div>\n<\/div>\n
\n
\n
the morning so yeah I’m almost certain<\/div>\n<\/div>\n<\/div>\n
\n
\n
that you guys did we’ll check the tapes<\/div>\n<\/div>\n<\/div>\n
\n
\n
but also I remember hearing you guys<\/div>\n<\/div>\n<\/div>\n
\n
\n
call out the level before it actually<\/div>\n<\/div>\n<\/div>\n
\n
\n
broke and then I remember actually Kyle<\/div>\n<\/div>\n<\/div>\n
\n
\n
saying that he owed you a beer I think I<\/div>\n<\/div>\n<\/div>\n
\n
\n
heard that right yeah he does owe me<\/div>\n<\/div>\n<\/div>\n
\n
\n
beer or a lot a packet or a pack of gum<\/div>\n<\/div>\n<\/div>\n
\n
\n
I don’t know what I was something yeah<\/div>\n<\/div>\n<\/div>\n
\n
\n
he owes you something did he pay you<\/div>\n<\/div>\n<\/div>\n
\n
\n
I<\/div>\n<\/div>\n<\/div>\n
\n
\n
I’m waiting me actually a hole that’s a<\/div>\n<\/div>\n<\/div>\n
\n
\n
separate video really so so I hear kike<\/div>\n<\/div>\n<\/div>\n
\n
\n
I heard Kyle thank you for calling this<\/div>\n<\/div>\n<\/div>\n
\n
\n
out and I think Kyle you made at that<\/div>\n<\/div>\n<\/div>\n
\n
\n
too at that point this was if not your<\/div>\n<\/div>\n<\/div>\n
\n
\n
best trade today live one of your better<\/div>\n<\/div>\n<\/div>\n
\n
\n
trades is that right yeah yeah and so<\/div>\n<\/div>\n<\/div>\n
\n
\n
look you guys all sit together and I get<\/div>\n<\/div>\n<\/div>\n
\n
\n
so many notes from people about how it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
lonely to trade as an independent a<\/div>\n<\/div>\n<\/div>\n
\n
\n
retail trader and they wish they had<\/div>\n<\/div>\n<\/div>\n
\n
\n
people around them to share ideas and<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is an example of that I just got<\/div>\n<\/div>\n<\/div>\n
\n
\n
one today from somebody in North<\/div>\n<\/div>\n<\/div>\n
\n
\n
Carolina who asked me to introduce him<\/div>\n<\/div>\n<\/div>\n
\n
\n
to all the SME traders in the Charlotte<\/div>\n<\/div>\n<\/div>\n
\n
\n
area so that he could trade with them<\/div>\n<\/div>\n<\/div>\n
\n
\n
create a network with them maybe even<\/div>\n<\/div>\n<\/div>\n
\n
\n
share space with them so if you’re from<\/div>\n<\/div>\n<\/div>\n
\n
\n
the Charlotte area reach out and we’ll<\/div>\n<\/div>\n<\/div>\n
\n
\n
connect you guys but there’s a lot<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s the way most people trade and so<\/div>\n<\/div>\n<\/div>\n
\n
\n
you have that as a huge advantage but<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s something even more important<\/div>\n<\/div>\n<\/div>\n
\n
\n
than the fact that you guys are sharing<\/div>\n<\/div>\n<\/div>\n
\n
\n
information with each other in real time<\/div>\n<\/div>\n<\/div>\n
\n
\n
which is you’re teeing up for each other<\/div>\n<\/div>\n<\/div>\n
\n
\n
and getting ready to actually make this<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade you are going to you are more<\/div>\n<\/div>\n<\/div>\n
\n
\n
likely to make this trade if you’re all<\/div>\n<\/div>\n<\/div>\n
\n
\n
talking about how important that<\/div>\n<\/div>\n<\/div>\n
\n
\n
ninety-four level is you get that in<\/div>\n<\/div>\n<\/div>\n
\n
\n
your head it happens as opposed to<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’re just doing it yourself as opposed<\/div>\n<\/div>\n<\/div>\n
\n
\n
to you know max you’re just sitting<\/div>\n<\/div>\n<\/div>\n
\n
\n
there you’re not saying anything<\/div>\n<\/div>\n<\/div>\n
\n
\n
you guys actually do a good job talking<\/div>\n<\/div>\n<\/div>\n
\n
\n
to each other on the headsets I don’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
know why you need headsets since you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
like five feet from each other again<\/div>\n<\/div>\n<\/div>\n
\n
\n
another video but it’s better than you<\/div>\n<\/div>\n<\/div>\n
\n
\n
guys just G chatting to each other okay<\/div>\n<\/div>\n<\/div>\n
\n
\n
but that’s T it’s getting you ready to<\/div>\n<\/div>\n<\/div>\n
\n
\n
push the buttons it’s not an accident<\/div>\n<\/div>\n<\/div>\n
\n
\n
that preceding you having your best<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade to date you guys were talking<\/div>\n<\/div>\n<\/div>\n
\n
\n
about it<\/div>\n<\/div>\n<\/div>\n
\n
\n
it just makes it easier it’s like oh we<\/div>\n<\/div>\n<\/div>\n
\n
\n
talked about that now it’s 90 401 we<\/div>\n<\/div>\n<\/div>\n
\n
\n
talked about if it got above that price<\/div>\n<\/div>\n<\/div>\n
\n
\n
that I would get long because it was a<\/div>\n<\/div>\n<\/div>\n
\n
\n
good setup I remember you talking about<\/div>\n<\/div>\n<\/div>\n
\n
\n
in the a.m. meeting but if you even if<\/div>\n<\/div>\n<\/div>\n
\n
\n
you didn’t we just talked about it for<\/div>\n<\/div>\n<\/div>\n
\n
\n
the last five minutes here it is let me<\/div>\n<\/div>\n<\/div>\n
\n
\n
push the buttons and see what happens<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so that’s that’s super important and<\/div>\n<\/div>\n<\/div>\n
\n
\n
I will just say that was really one of<\/div>\n<\/div>\n<\/div>\n
\n
\n
the better moments I think that was in<\/div>\n<\/div>\n<\/div>\n
\n
\n
the first I think that was that was<\/div>\n<\/div>\n<\/div>\n
\n
\n
Friday yeah the first week that was one<\/div>\n<\/div>\n<\/div>\n
\n
\n
of the better moments of that week<\/div>\n<\/div>\n<\/div>\n
\n
\n
overall for all the training you guys<\/div>\n<\/div>\n<\/div>\n
\n
\n
did that was one of the better moments<\/div>\n<\/div>\n<\/div>\n
\n
\n
is the fact that you guys used each<\/div>\n<\/div>\n<\/div>\n
\n
\n
other and you had success because you<\/div>\n<\/div>\n<\/div>\n
\n
\n
did and you teed up good ideas and<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s gonna be times when one Kyle max<\/div>\n<\/div>\n<\/div>\n
\n
\n
gives you a bad bad idea and he’s gonna<\/div>\n<\/div>\n<\/div>\n
\n
\n
say if beyond gets below 120 I’m gonna<\/div>\n<\/div>\n<\/div>\n
\n
\n
short it and you get short below 120 it<\/div>\n<\/div>\n<\/div>\n
\n
\n
takes down 50 cents and it goes straight<\/div>\n<\/div>\n<\/div>\n
\n
\n
to 122 you’re like sob I promise I was<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna swear today yeah and we’ve got<\/div>\n<\/div>\n<\/div>\n
\n
\n
some of the younger interns in here so<\/div>\n<\/div>\n<\/div>\n
\n
\n
I’m gonna work on that you know that was<\/div>\n<\/div>\n<\/div>\n
\n
\n
such it but but that isn’t really the<\/div>\n<\/div>\n<\/div>\n
\n
\n
way to think about it it you want more<\/div>\n<\/div>\n<\/div>\n
\n
\n
information it’s your job to process the<\/div>\n<\/div>\n<\/div>\n
\n
\n
information from people around you so<\/div>\n<\/div>\n<\/div>\n
\n
\n
that it works for you but to blame<\/div>\n<\/div>\n<\/div>\n
\n
\n
somebody else for giving you information<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then you making a decision to take<\/div>\n<\/div>\n<\/div>\n
\n
\n
it and it not working out on the other<\/div>\n<\/div>\n<\/div>\n
\n
\n
person makes no sense<\/div>\n<\/div>\n<\/div>\n
\n
\n
sure job to filter the information but<\/div>\n<\/div>\n<\/div>\n
\n
\n
you want more information and as you<\/div>\n<\/div>\n<\/div>\n
\n
\n
when I used to sit next to Spencer for<\/div>\n<\/div>\n<\/div>\n
\n
\n
many years as a trader I literally could<\/div>\n<\/div>\n<\/div>\n
\n
\n
tell if the stock was gonna go up based<\/div>\n<\/div>\n<\/div>\n
\n
\n
on the intonation and his voice how<\/div>\n<\/div>\n<\/div>\n
\n
\n
excited he was about a particular level<\/div>\n<\/div>\n<\/div>\n
\n
\n
I could just literally I could we could<\/div>\n<\/div>\n<\/div>\n
\n
\n
have literally built a black box program<\/div>\n<\/div>\n<\/div>\n
\n
\n
off of the sound of his voice if I could<\/div>\n<\/div>\n<\/div>\n
\n
\n
actually define it and so you’ll learn<\/div>\n<\/div>\n<\/div>\n
\n
\n
that from each other you’ll learn when<\/div>\n<\/div>\n<\/div>\n
\n
\n
Mac says you know ads above 94<\/div>\n<\/div>\n<\/div>\n
\n
\n
looking at as opposed to you guys it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
above 94 you know and sometimes we’ll be<\/div>\n<\/div>\n<\/div>\n
\n
\n
like guys it’s really above 94 maybe<\/div>\n<\/div>\n<\/div>\n
\n
\n
that information you know to actually<\/div>\n<\/div>\n<\/div>\n
\n
\n
short that but like you will be able to<\/div>\n<\/div>\n<\/div>\n
\n
\n
he’s too excited maybe that’s a short so<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’ll learn to use that information but<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah it was a really really good job<\/div>\n<\/div>\n<\/div>\n
\n
\n
sharing the information teeing it up and<\/div>\n<\/div>\n<\/div>\n
\n
\n
and pushing the buttons and that note<\/div>\n<\/div>\n<\/div>\n
\n
\n
I’m sure you could have done some things<\/div>\n<\/div>\n<\/div>\n
\n
\n
better but good example of the classic<\/div>\n<\/div>\n<\/div>\n
\n
\n
bull pattern a good example using a key<\/div>\n<\/div>\n<\/div>\n
\n
\n
level and the longer-term charts and it<\/div>\n<\/div>\n<\/div>\n
\n
\n
working and good example of seeing that<\/div>\n<\/div>\n<\/div>\n
\n
\n
that pole and the flag pattern and and<\/div>\n<\/div>\n<\/div>\n
\n
\n
and how to trade that now it’s your turn<\/div>\n<\/div>\n<\/div>\n
\n
\n
do you trade the classic bull flag<\/div>\n<\/div>\n<\/div>\n
\n
\n
pattern if so what are your results let<\/div>\n<\/div>\n<\/div>\n
\n
\n
us know by leaving a comment below right<\/div>\n<\/div>\n<\/div>\n
\n
\n
now<\/div>\n<\/div>\n<\/div>\n
\n
\n
<\/div><\/div>\n<\/div>\n<\/div>\n

\"\"<\/a><\/p>\n

* no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"

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