Alternate pivots offer earlier entries when compared to regular pivots.
These pivots are important because:
▪️ They offer the same if not better R/R then regular pivots
▪️ Less volatility around these areas
▪️ Allow you to start positions EARLIER
The best traders take advantage of alternate entries to build positions before a stock becomes obvious to the crowd.
Here are 7 lesser known Chart Patterns that are a MUST in any trader's tool box 🧵👇
Alternate pivots offer earlier entries when compared to regular pivots.
These pivots are important because:
▪️ They offer the same if not better R/R then regular pivots
▪️ Less volatility around these areas
▪️ Allow you to start positions EARLIER
The HVC is created from a big volume gap up.
The close of this day is an important point for institutions to support.
If institutions are in supporting this point, price should be very responsive - making it a great, lower risk entry.
The pivot retest setup happens when price retests the prior support/resistance point & then rallies back through.
This can be a powerful setup as it acts as a 'shakeout' and reverses higher with stronger hands holding the name.
We are looking for stocks that open in the wick of the prior session's bar.
The buy trigger is when price moves through the prior day's high.
The stop loss should be the low of the current day.
The Oops Up Reversal setup is best implemented on a gap down (usually created from a poor close the prior session) that finds demand quickly.
The buy trigger is when price moves through the prior day's low.
The stop loss should be LOD or a defined %.
Hear more on his his trading journey in our interview with him for the TraderLion Podcast 👇
https://t.co/MrEk2aqR5I
The U&R setup usually occurs at the low or bottom of a base or structure.
This is often what we see in William O'Neil's 'Double Bottom' base structure.
Buy Point: Up Through Prior Swing Low
Stop Loss: Low of U&R Day
https://t.co/F9x9ML8qNZ
8 Chart Patterns by William O'Neil
— TraderLion \U0001f981 (@TraderLion_) March 1, 2022
Let's break them down one by one\U0001f9f5 pic.twitter.com/8GCOD75JBd
The Power of 3 pattern is when the 10SMA, 20SMA, & 50SMA are all within 1.5% of each other & price overtakes all three to the upside in one bar.
The Launchpad usually follows this pattern, where the moving averages form a 'launchpad' underneath price.
✅ High Volume Close (HVC)
✅ Alternate Pivots
✅ Pivot Retests
✅ In The Wick
✅ Oops Up Reversal
✅ Undercut & Rally
✅ Power of 3
These patterns work best to the long side when the stock and general markets are uptrending. 📈
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The best traders take advantage of alternate entries to build positions before a stock becomes obvious to the crowd.
— TraderLion \U0001f981 (@TraderLion_) April 28, 2022
Here are 7 lesser known Chart Patterns that are a MUST in any trader's tool box \U0001f9f5\U0001f447 pic.twitter.com/DzAdBLaaL5
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Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.
Characteristics of a personal moat below:
2/ Like a company moat, you want to build career capital while you sleep.
As Andrew Chen noted:
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized
Things that might get commoditized over time (some longer than
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.
After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.
In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.
Characteristics of a personal moat below:
I'm increasingly interested in the idea of "personal moats" in the context of careers.
— Erik Torenberg (@eriktorenberg) November 22, 2018
Moats should be:
- Hard to learn and hard to do (but perhaps easier for you)
- Skills that are rare and valuable
- Legible
- Compounding over time
- Unique to your own talents & interests https://t.co/bB3k1YcH5b
2/ Like a company moat, you want to build career capital while you sleep.
As Andrew Chen noted:
People talk about \u201cpassive income\u201d a lot but not about \u201cpassive social capital\u201d or \u201cpassive networking\u201d or \u201cpassive knowledge gaining\u201d but that\u2019s what you can architect if you have a thing and it grows over time without intensive constant effort to sustain it
— Andrew Chen (@andrewchen) November 22, 2018
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized
Things that might get commoditized over time (some longer than
Things that look like moats but likely aren\u2019t or may fade:
— Erik Torenberg (@eriktorenberg) November 22, 2018
- Proprietary networks
- Being something other than one of the best at any tournament style-game
- Many "awards"
- Twitter followers or general reach without "respect"
- Anything that depends on information asymmetry https://t.co/abjxesVIh9
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.
After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.
In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
