Trading high-probability setups are the same for stocks, bonds, index, and sector ETFs, commodities, or currencies — on any time frame!
Trading Breakouts can be treacherous if you don’t know what to look for since many fail at the outset – particularly breakouts from bottoming patterns.
Traders and investors often “pick the bottom,” thinking they are getting a great price.
But stocks are often cheap for a reason, and can remain “dogs” -- and some go bankrupt.
Did you know that Bottoming and Topping Patterns set up in different forms and trends?
Most are traps for the uneducated trying to pick tops and bottoms. Don’t be a victim and be whipped around.
At Master Trader, we have several criteria to define quality setups based on the structure of the price pattern.
The Structure of the price pattern will speak to us about the relationship between buyers (demand) and sellers (supply) and the likelihood of reversals and trend continuation.
With all Breakouts and other Setups, we need a Price Void (insignificant resistance to the left for longs).
In this lesson, we are going to show you a compelling Breakout of a W-bottoming pattern we gave our subscribers last week, which had bullish price action after a Breakdown Failure using Master Trader Strategies (MTS), as well as a new trade Setup for this week.
The analysis is explained in nightly letter videos for subscribers.
It was the Breakdown Failure and bullish +180 reversal closing Breakout from consolidation that made it a very high-probability Breakout Setup!
Management updates are sent intra-day by text message to subscribers until the trade is closed.
We booked a beautiful gain using a simple trail methodology.
MNTK is a +123 Breakout from a bottoming pattern on our radar screen this week.
Nice Trade!
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