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Today we start the webinar by looking at the weekly power profit scans. Then we pull up the chart and take a deeper look on the 15 minute. After identifying a cliff point, we set up our trade plan. We discuss the logic behind going long or going short on it. While setting up our long trade, we discuss the importance of previous support/future resistance. This helps us find the logical target. Some people missed the entry on the breakdown to the key level but we see that it bounces nicely and goes on to hit target. Rather than just closing our trade at target, we continue to trail our winner to capture as much profit as the chart is willing to give us.
We finish the webinar by discussing Clay’s .37 entry method. This premise revolves around the mini grandma .50 level. He clarifies that this is used in regards to a rubberband candle into a level he is watching. This has to do with backtests and what Clay has seen personally.