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In this episode:
- Hammer alert on a large gap down. It found nice follow through on the break up but remember, be aggressive in your profit taking as you are long in a bear river.
- Pattern break (bear pole/ bear flag/ descending triangle) with a good break down.
- Heads up alert at a previous support/resistance level. Great example of how old resistance turns into new support.
- Grandma alert that leads into a deep discussion of the rubber band effect.
- Capitulation alert with a good discussion on spotting ideal setups. Sometimes what you are looking for will be in a ‘grey area.’ They can’t all be clear cut.
- Wolf alert in bull river but as this example shows, trade plans need to remain fluid. This bearish candlestick with time has turned into a bull flag.
- Wolf alert with moving averages in good place as well but it just didn’t work out. This is why we are in the business of managing risk.
- Rubber band alert in a very bearish environment. Second alert was for a dead cat after the initial bounce.
- Looking for weakness in a bullish environment. It just never setup.
- Dead bodies alert and a discussion on looking for signs of strength for a bounce.
- Cliff point alert with a nice example of how there are multiple ways to play it. Cliff points are levels of support and can be used for a long thesis instead of just a short breakdown.
- Bear flag alert after a large move down with recognition that the pattern formed inside the bollinger bands. Nice follow through. Not overextended.