How To Trade The Range Breakout | Bulls on Wall Street

How To Trade The Range Breakout

Recently one of the top traders in our chatroom, Szaman, made an awesome trade. 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.

Szaman is also in charge of our daily trading watchlist, a free blog post where he does the research; he does the scans and finds the best setups for you to trade the next day. One stock on his list was $CLVS. You see, $CLVS was on his list because it setup a clean range with resistance at $67.16. After it pierced the high the previous day, he put this stock on watch for a full breakout today.

range breakout

Right out of the gate, the breakout triggered. When the stock developed an intraday Opening Range Breakout setup, he entered the stock at $68.29. Not only was this spot the intraday breakout price, but it was also near yesterday’s highs. Once he got it, the stock quickly took off to $71.00. Szaman closed out partial positions at $69.78 and $70.80 along the way.

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Even for those who missed the first move, $CLVS was now on our radar and there were great opportunities for us to capitalize on it the rest of the day. Strong stocks can have more than one push throughout the day. With patience the next opportunity will definitely come.

A monster winner, later in the day $CLVS ran all the way up to $73.81. If you were in our chart, you would have been watching $CLVS from 9:30 in the morning! Or subscribe to our newsletter, where we send trading lists of Szaman’s setups directly to you.

Email me at kunal@bullsonwallstreet.com if you have any questions!