DJT: As technical traders, at Master Trader we trade many compelling setups in all trends and time frames. Breakouts and Breakdowns are great setups as Igniting or Continuation trades in trending markets. We teach how to buy/short the initial Breakout/Breakdown, as well as retracements and reversals to Support/Resistance, as well as continuation patterns. With DJT, the first arrow shows the Range Expansion closing Breakdown at the 50-MA and below the declining 20-MA. That was a great place to short under the low of that candlestick. After the next bearish candle, it had two inside bars, showing relative weakness by its inability to bounce. We recommended shorting the stock as a Continuation Breakdown where shown. Because of the momentum move up in May, it had a nice Price Void (i.e., insignificant support to the left) to allow for an easy-to-manage swing short. Although Moving Averages are “subjective” (meaning they are just visual aids but Support and Resistance are what really matter), the area of the 200-MA was our target area as was in alignment with a prior pivot low and the 200-MA is widely followed by institutions. Nice quick bearish swing trade.
ADSK: ADSK was a great setup for buying a Breakout of a bottoming pattern. Let’s explain why. Already in a downtrend, it accelerated lower in late May, getting far below its 20-MA – a sign of short-term selling exhaustion and setting up a counter-trend trade. It then had a bullish +Gap to Major Resistance (MR) and went sideways. Buyers were stepping up at those levels. But here’s the “Tell”: after breaking down where shown (Breakdown Failure), it snapped right back, again closing at MR with a bullish Range Expansion (+R/E) candle on earnings, closing above the 20/50-MA. It then had a bullish inside consolidation day where we recommending buying the stock over the high of those two-bars. Because of the momentum move down starting in May (i.e., fell from $270 to $200), it had a nice Price Void (i.e., insignificant resistance to the left) to allow for a nice bullish swing trade to move higher. Nice trade!
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