How To Trade The Pullback To Support | Bulls on Wall Street

How To Trade The Pullback To Support

The buzz in our chatroom today was all about an insane trade that our Szaman made today. In case you don’t know, Szaman is also one of the moderators of our chat. He calls out trade opportunities to everyone in the chat as he’s placing his trades. Today, either you were celebrating your big wins alongside us or kicking yourself in the teeth for not having joined into this trade.

Szaman called this trade out at 9:45AM alerting everyone in the chat that he was entering this trade at $65.10. In just a matter of minutes, the stock starting rumbling and already he was scaling out a partial of his position. At 9:49AM, he sold some at $65.61. But it wasn’t until 10:30AM when the real magic happened and $CLVS took off like a rocket. Once the price broke the morning’s opening range breakout, it never looked back. At 10:41AM, he sold some at $66.78 and exited the rest at 10:48AM around the high $67.00 level.

Pullback

Yesterday $CLVS had a huge break with the market selling off. But the break was on low volume. But the daily chart indicates that we are still in an uptrend and this trend wasn’t violated. In fact the selloff stopped right at a prior resistance level at $64.00. Now this level has become support. With these factors plus a prime scenario for a reversal, this stock had a huge potential for a pop. And if you were in our chat you would have seen it too. Missed the first move? Well, $CLVS set up for another push higher but this time it would’ve been on your radar. At 11:10AM, it displayed an orderly low volume pullback before taking off even higher to the $69.00 level.

If you’re not sure of the setups and price patterns that we’re talking about you can learn them all here at our Bulls Bootcamp. It’s an intensive 60 day course to teach you exactly how I trade and why. To learn more or signup, email me at kunal@bullsonwallstreet.com today!