By David
In the stock market there are 3 things you need to know
- Uptrends and how to trade them
- Downtrends and how to trade them
- Change In Trends and how to identify them
After all, if you are long at a top, you need to know when to get out right? You need to know what to watch out for if you’re long and what to watch for, if you want to go short.
We’ve been highlighting the power of First Thrusts Down short sell patterns. We’ve been featuring these to subscribers over the past two months and this pattern has lead us to numerous trading opportunities.
Here are several examples plus a new stock in the early stages of this pattern.
Below is the chart of the $COMPQ from our Feb. 27 newsletter.
Take a look at a few recent leaders that were sporting this same first thrust down, snap back rally set up.
Now that you have a good idea as to what the pattern looks like take a look at the chart below. Look familiar?
For us? Any break to the downside of the Pink channel and we sell it short.
Our weekend newsletter is packed with names and chart pattern setups just like these. (To see TrendTrader’s Members’ Content, click here.)
