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In today’s webinar we look at one of Clay’s TIF alerts and go over how he traded it live. This alert was of a ‘granny hammer’ at the round number of 65 on a large gap down. Clay entered right before it broke out of the 1st minute high. Clay makes it very clear this is nothing more than an intraday scalp trade and dissects how he should have managed it in hindsight by trailing his winner before ultimately stopping out for a large rollover.
The next ticker we look over is NFLX on the 2 minute chart. We survey the live attendees to see what alert they would give if presented this setup. The 50SMA plays a large role in this rubber band alert into it. After a spirited chat about logical stop loss location, we determine our buy location and sell location. We soon find out what students entered and who missed out and then go through the process of trialing our winner. This was another example of why we let our winners run as far as they logically can. Those are the trades that pay for many small losers.