This is a great setup for a buy that I learned from another
trader. When you have a push through the upper BB, w/ volume, look
to buy a pullback into support, like prior highs or the 9ema, etc.
It might be sometime the 1st day after the initial move , or the
2nd day. The point is that the high volume first day that shot
through the BB tells you there's enough demand that buying a
pullback is likely to be successful. Matt talks about buying
pullbacks in other situations, but this one is a particular setup
regarding volume and an initial move above the upper BB.
Particularly good when the BB's are somewhat tight or
"pinched."
This is a great setup
Update on LTCN - up another 17% so far today ...
Posted by frtaylor on 5th of May 2021 at 10:40 am
This is a great setup for a buy that I learned from another trader. When you have a push through the upper BB, w/ volume, look to buy a pullback into support, like prior highs or the 9ema, etc. It might be sometime the 1st day after the initial move , or the 2nd day. The point is that the high volume first day that shot through the BB tells you there's enough demand that buying a pullback is likely to be successful. Matt talks about buying pullbacks in other situations, but this one is a particular setup regarding volume and an initial move above the upper BB. Particularly good when the BB's are somewhat tight or "pinched."
Does this work in reverse:
Posted by timebandit on 5th of May 2021 at 12:49 pm
Does this work in reverse: push through the lower BB with volume, buy a bounce into resistance. Thinking about QQQ, in particular.