Never quite know whether to take these trades inside the pattern
or wait for the breakout. Perhaps you or Matt can cover the
pros and cons of each in an upcoming video. By the way, about
6-8 months ago and for a period of time, Matt would mention buy
points (other than breakpoints) and suggested stops. That
seems to have gone by the wayside.
Understand that the daily newsletters (videos) have also
expanded since then (more charts). Have you dropped that
granular detail due to time constraints? I for one found them
extremely helpful, especially as it frames an answer to my initial
question (buy inside the pattern or wait for the breakout).
Thanks.
Richie - OSTK made a big move on huge volume and drifted back to
SUPPORT and then bounced. One must also know that OSTK tends
to trade with Bitcoin. Quite frankly, we have discussed
watching the 9 day EMA for a trigger on a pullback ad naseum.
I posted the chart a few days ago as one setup to
monitor. Examine the 60 minute chart coming into today and
you will see a bull flag. Chart attached below. Employ
the principals we discuss night after night - you must put in the
work. It's not about specific buy points it's about understanding
the flow that's important - the concepts versus identifying one
specific price are what's important to undertand. With that
said, a simple trigger on the daily would be moving back above
yesterday's high and then confirmed with a volume break of the
horizontal resistance - earlier trigger on the 60 minute flag
break. STUDY THESE CHARTS and apply to future
trading.
Never quite know whether to
OSTK Daily View Update
Posted by RichieD on 26th of Jun 2019 at 01:14 pm
Never quite know whether to take these trades inside the pattern or wait for the breakout. Perhaps you or Matt can cover the pros and cons of each in an upcoming video. By the way, about 6-8 months ago and for a period of time, Matt would mention buy points (other than breakpoints) and suggested stops. That seems to have gone by the wayside.
Understand that the daily newsletters (videos) have also expanded since then (more charts). Have you dropped that granular detail due to time constraints? I for one found them extremely helpful, especially as it frames an answer to my initial question (buy inside the pattern or wait for the breakout). Thanks.
Richie - OSTK made a
Posted by steve on 26th of Jun 2019 at 01:22 pm
Richie - OSTK made a big move on huge volume and drifted back to SUPPORT and then bounced. One must also know that OSTK tends to trade with Bitcoin. Quite frankly, we have discussed watching the 9 day EMA for a trigger on a pullback ad naseum. I posted the chart a few days ago as one setup to monitor. Examine the 60 minute chart coming into today and you will see a bull flag. Chart attached below. Employ the principals we discuss night after night - you must put in the work. It's not about specific buy points it's about understanding the flow that's important - the concepts versus identifying one specific price are what's important to undertand. With that said, a simple trigger on the daily would be moving back above yesterday's high and then confirmed with a volume break of the horizontal resistance - earlier trigger on the 60 minute flag break. STUDY THESE CHARTS and apply to future trading.
https://stockcharts.com/h-sc/ui?s=OSTK&p=60&yr=0&mn=1&dy=0&id=p82946741877&a=673089935&r=1561569655456&cmd=print