Mike Tyson once said that "everyone has a plan until they get punched in the mouth."
Just as Tyson's opponents concocted brilliant plans to survive his assault and take him down, only to throw the plan out the window once he hit pulverized them, traders seem to always want to buy pullbacks until that dreaded pullback actually happens. Once that painful dip comes, traders give up on the setup.
No matter how many times we see a market dip bounce, fear sets in that this dip will be the big one. So how do we mange the fear and stock to the plan?
By having a process in place that gives us easy steps to buy the pullback without fear.
The Pullback Continuation Setup
In today's video we review our recent winning BABA trade. This entry trigger for this trade was the pullback continuation setup. In this video, you will learn how to:
- Identify the setup
- Plan the trade around key technical levels
- Assess the strength of a bounce
- Analyze volume patterns
- Apply effective exit strategy
- Use sector analysis to increase probability
So watch, learn and let me know what you think!
Swing Trade Service
This swing trading service is great for those that work and can't monitor the computer all day. We have in-depth nightly reports on the gameplan for the day/week and all stock picks that I trade will be alerted and emailed to you.