ANET: Consolidations occur in all types of trends where it is often difficult to tell if it is just a consolidation to resume the prior trend on that time frame, or if the consolidation sets up a trend change. With ANET, the 50-MAwas rising so it is an intermediate-term uptrend; thus, the bias is up and to look for price patterns that suggest a bullish continuation. The large green band shows three weeks of bullish price action (consolidation) above the 50-MA, creating Major Support over time. Notice the three Bottoming Tails (BT) in the consolidation at the same price level. ANET had buyers lurking below at that level. Our bias remains up. So where to buy? It had a closing Breakout where shown. It also had a Buy Setup and reversal on the weekly chart, so it had bullish Multiple Time Frame (MTF) alignment, another concept taught in Master Trader Strategies (MTS). Over the high you could buy stock or liquid options. It triggered where shown, providing us with an easy-to-manage profitable swing trade where we sold into strength.
STX: The Master Trader 1-2-3 Continuation (+123) is a very potent igniting pattern that can be traded on all time frames. We prefer trading them from a consolidation because that ignites a new move. As with all Setups, we require a Price Void (i.e., insignificant resistance to the left for longs). With STX, notice the bullish Wide Range Bar (+WRB) at the first arrow. It retraced 100% of the prior fall, which is bullish. The reversal also occurred at the 50-MA which was rising so STX was is an intermediate-term uptrend. After the +WRB, there were two bullish inside bars which stayed in the upper 40% of the +WRB. This is a +123 Continuation where we look for bullish stock or option trades once it trades over the high of these two candles which had a clear above Price Void. It triggered where shown, providing us with an easy-to-manage profitable swing trade where we sold into strength.
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Mick T.
I learned a lot going through the MTS course; so far I reviewed it three times and each time, I discovered wealth of new insights. I am also a member of the Advisory Letter and the Weekly Options: where else can you find a batting average higher than 85%. Greg and Dan are not only Master Trader but also Master Teachers; I don’t miss the Wednesday lessons (MT Live) where you learn how to find that something something to boast your returns. I am addicted.
Ibrahim A.
You guys are the only two traders that teach candlesticks and relate them directly to trade setups. I have learned so much and it has actually turned me into a profitable NQ trader which is where I cut my teeth. Could not consistently achieve “green” days until I found MasterTrader. Now I am learning stocks, and options and swing trading. It is all starting to make sense. Before, it was a jumbled mess. I would highly recommend MT because you 2 are traders, teachers, and mentors. This does not exist in the “learn to trade” world. I find your pre-market and live market trading second to none. Also, you give pre-made scans to students for TC 2000 which is invaluable! Really - it is priceless! For me, you guys have all the bases covered short of you sitting with me at my computer teaching me what to do....but you guys already do that too--- daily!