Master Trader +123 Continuation Setup Strategies - Great Trading Setups for all Markets and time frames!
Master Trader Bullish +123 Continuation Setup (+123): A bullish Wide Range Bar (i.e., a wide range bar compared to others with little to no tails) from consolidation, followed one or more bullish inside candles which stay in the upper 40% of the +WRB. With all trades, we need a Price Void (i.e., insignificant resistance to the left).
Real Master Trader Trade with the Stock LZB.
Initial Setup: This is exactly what we got with LZB at the second blue arrow shown at the rising 20-MA. The entry is over the high of the 2-3 bar setup, with a stop under the +WRB.
Bullish Signals: What made this +123 more potent was the fact that it occurred after a Downside Shakeout following a failed Buy Setup which triggered on 6/28. A Buy Setup is a retracement and bullish reversal on support in an uptrend – simple using Master Trader Strategies (MTS) that even an 8-year-old can follow.
Trade Execution and Additional Analysis
After making a new low, LZB closed with a +WRB, deep into resistance, which is bullish, followed by the bullish inside bar, making it a +123 Setup. This +123 was from a 7-bar consolidation above the 20-MA, making it a bullish Breakout. The bullish inside bar confirms the strength of the +WRB with a high-probability of moving higher once it triggers over the highs.
Price Void: Because of the momentum move lower from the June highs, LZB had a large price void (insignificant resistance to the left) for an easy-to-manage swing long from the consolidation.
Multiple Time Frame (MTF) Alignment: Although not shown, the weekly chart was bullish, which helps ensure a high probability of success of the +123 on the daily chart.
Profit: The trade triggered as shown, yielding a generous profit and return in a quick 3-day swing trade. Had you bought 1000 shares and followed our trade management, you would have made $1,730 profit.
Conclusion
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