DocBrian

This was an interesting chart @MikeySaghbini . I completely agree with Tim that the first is almost always the best (and was here). Tim traded this stock on 6/3 (and other days too i believe). I bought the 1st dip (with really nice profits) and the bottom dip (with less profits b/c choppier). But the bottom dip had interesting MACD pattern.

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MikeySaghbini
MikeySaghbini Jun 07, 8:35 PM

very nice, thats a nice chart, also why i never linger in my dip buys!

DocBrian
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DocBrian Jun 07, 8:38 PM

Yes , SO important to never hold and hope. And I would have stayed away on the finely bounce except for the buy signal on MACD for me and the confirmation on candlestick patten. That made me think we would see continuation . I was able to get another small profit from that last bounce.

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DocBrian

So $CIDM just completed at great "Cup-Handle-Pop" at 11:39. If you look closely, this pattern actually has a "meta-Handle." There is a cup at 10:45 to 11:15, with a following handle, but within the handle is another cup-handle pattern. I'm finding when a cup-handle completed on another "meta-handle" (and rarely a triple handle), these can pop/squeeze huge. One of the key things I look at now are 1) a nearby resistance. Here: we have the VWAP. This acts like a rubber band. The cup-handle-pop will give it momentum, and it breaks the rubber band it will sling-shot up (hence the squeeze). 2) I prefer "Intraday runners" (this is actually a loser, but the pattern fits) 3) I am now using MACD for entry/exit signals. I would have actually entered this play at 11:35 at around 2.56 and set my risk to bottom of the current handle (2.51). This a momentum play, the second the pattern fails to be cup-handle-pop, I'm out.

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DocBrian

LOL, So I just hand inputted my trades from Tuesday. Yeah that was painful. A very good reminder why #BestTradesOnly is the only way to go. I went from more the -$350 in the morning, took a break, changed my trading plan (because I was making dumb mistakes) and then eked by with a tiny profit. The only part that was worth it was the amount of determination I gained from it. I don't like overtrading, but I can definitely tell the way I look at trading changed that day. Every day since then I have simply focused on being more disciplined.

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DocBrian

Finally uploaded my trades for the past month. Wow I have a lot to learn. The majority of my losses occurred on 3 big days--days in which I look back and realize I was usually tired and I believe they were mostly Fridays. Still in th game, but wow I have a lot to learn.

Rodster
Rodster Aug 03, 12:57 PM

Fridays have been my worst as well.

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DocBrian
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DocBrian May 28, 6:27 PM

You’re not alone! This trade also “frustrated” me—didn’t get executed on TLSS and instead focused on INTEQ, and then had horrible executions .... ty for sharing though! I have a lot to learn .

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MikeySaghbini

pretty dip buy pattern. today i dip bought $vtiq, idk why or how i missed that beautiful first morning dip buy on the panic but i did, so i got in later end of day on a deep dip and sold into strength.

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DocBrian
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DocBrian May 20, 1:56 PM

there were so many good plays this morning, it was hard to track them all...but great chart...

DocBrian
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DocBrian May 20, 1:56 PM

haha this was yesterday (doh)

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MikeySaghbini

$bcrx offered multiple good dip buying opportunities, the first dip buy on 5/12 was an easier setup than the dip buy on 5/13, you would have to be patient but you shouldnt ignore a huge sell off through the day, because this slow developing bounce is also a good setup if you can learn how to play them.

DocBrian
DocBrian May 13, 8:06 PM

Nice! Ty for charts to review . I wasn’t watching bars buts it’s good to review. :)

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MikeySaghbini

i save perfect pattern charts!, checkout this beeeautiful cup and handle from awhile back, i bought that one for sure!

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DocBrian
DocBrian May 07, 8:07 PM

thanks for posting and sharing what you're learning !

DocBrian
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DocBrian May 07, 8:34 PM

you know, that is so perfect that even the r:r follows "typical cup/handle" methodology--Measure from the bottom of the cup to the left side of the handle and add it to the breakout line for "potential" limit to the breakout (i don't to say price target, because then people might get lazy and not watch the L2 / price action)

DocBrian
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DocBrian May 07, 8:36 PM

but knowing the "textbook" cup/handle definition can at least tell you if the b/o is weak, normal, or strong...and also give you an idea if it's failing or if it's just proving itself (at least that's my theory)....also, if you're looking at multi-day charts, the "textbook" risk level is the bottom of the cup, but for intraday, I've been using the bottom of the handle....If the handle doesnt curl up, I'm gone.....

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DocBrian

@timothysykes is 100% correct. These patterns repeat. Check out $MARK, $MVIS and CLSK over the past few days (and that's just a few). From what I'm seeing from angry shortsellers on Twitter, they are calling this pattern a "Intraday Multi-Short Trap" for new shortsellers. But for longs they are great. Going to look for some videos in the Lesson Library on these Intraday Multi-Squeezes by Tim. Curious if the psycho-social impact of the Stock Market crash / influx of inexperienced traders is making these "Intraday Multi-Short Traps" so common. Note: Learning to short is #1 on my "To Do." Gotta be a flexible trader. But I want to make sure I do it right.

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MDM
MDM May 05, 11:09 PM

Wow, I'm still learning, but I know what you mean.

DocBrian
DocBrian May 06, 12:01 AM

Me too @MDM . In fact, I have a lot of reading /watching to do this week/weekend. I just want to encourage people: These patterns keep coming !! (And these aren’t even the “best” patterns, there’s lots more). So next time I’m ever unsure or feel rushed , I’m just gonna wait .... cuz these trades felt smooth and clean. The difference between reading a map vs chopping through weeds.

MDM
MDM May 06, 12:11 AM

It's good to hear from other traders, very encouraging especially when I am having a hard time.

DocBrian
DocBrian May 06, 6:26 PM

@MDM if you didnt see Tim's live webinar today, he talked alot about shortselling / and squeeze. Should also be a daily video lesson posted tonight on the trades he took today. I'm gonna be watching those for sure. (he also basically said that term "intraday multi-short trap" is completely made up, lol).

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