Master Trader teaches many price patterns for trading stocks and options.
In last week’s Trade Review, we showed you how to trade Master Trader Sell Setups to profit from retracements and reversals at resistance in downtrends.
In this Trade Review, we are going to show you how to trade the same pattern but in an uptrend: a Master Trader Buy Setup to profit from retracements and reversals on support in uptrends.
Here is a simplified picture of the Master Trader Buy and Sell Setup:
Using our “Keep It Simple Stupid” (K.I.S.S.) Method, here are the requirements for a Master Trader Buy Setup:
- Strong uptrend (higher highs and higher lows), with a rising 20-MA above a rising 50-MA preferred
- Controlled retracement from a V-Top (as opposed to overlapping bars, creating more resistance from a square top) with a Price Void above
- Compelling reversal at support
Then you simply enter over the reversal bar/pattern and place a protective stop under the low of the reversal bar/pattern, and manage in between using your money and position management rules.
A Master Trader Sell Setup is the opposite for downtrends where we short retracements and reversals at resistance.
This video will show you a few recent examples of Master Trader Buy and Sell Setups where we profited on stock and option trades – VIDEO REVIEW:
The analysis is explained in nightly letter videos for subscribers.
Nice Trades!
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