SIMPLE & PROFITABLE Candlestick Patterns for ALL Traders!

hey guys jared wesley here of live traders and it is that time of the week it is lecture time and this week's topic guys we are going to dig deep we're actually only going to take one to two charts this week and we're going to really drill down i'm going to teach you guys how to read candlestick charts properly there's a lot of you guys making serious errors about what a stock is actually doing versus what you think it is doing okay so today we're going to dispel some of those myths we're also going to talk about double bottom re-tests bottoming tails trend line breaks topping tails biceps breakouts all on one to two charts we're literally going to break down these charts and get really granular so that you guys can learn how to properly read a chart because if you're not reading the chart properly you're going to be on the wrong side of the chart the wrong side of the market and that's going to cost you a lot of money so i've been talking to a lot of traders lately who are like you know what i think i have my management down i'm really good jared at following my plan but then they send me some of the trades they're taking i'm like that's not a buy setup oh that's not a breakdown that's not a climactic you're reading the chart completely wrong all right so today's lecture we're going to dig really deep into how to read a chart properly you don't want to miss this one okay i am jared wesley of live traders if you like these videos please click the like button hammer smash the subscribe button let's get to it [Music] today's lecture topic is how to read a chart properly so what we're going to do is we're going to take one to two charts and we're going to dig deep granular deep like there's maybe 10 slides in here and pretty much the same chart is in seven of those ten slides because we're going to dig deep uh into this because i'm getting some emails from folks which is opposite of what i'm normally getting right most of the time it's hey jared i'm really struggling to manage my trades i'm selling too soon or i'm not holding to target whatever right but recently i'm getting a lot of these jared the market's so tough these days and you know i i just got two emails this past week from people where they said i'm actually managing perfectly meaning i am not breaking my plan but my batting average is 31 or 27 well clearly in that case you are not reading the chart properly so today we're going to dig in a little bit on how to read a chart properly objectively and that's the key objectively obviously we see it every day in the chat room there's a lot of differing opinions about stocks that's what makes the market go up and down and sideways and all around but we here at live chargers we do it a specific way because it works well for us but before we dig into any of that we must first talk about when will the insanity stop um i'm signing today a little this one is we've done a lot of these right hundreds literally hundreds of these this one is is a tough one right some of them we sit there and go what an idiot right and other ones are like wow that's crazy this one is sad that's all i can use is the word i'm going to use today it's just sad all right so let's dig in you can read the top this email was sent to me i don't know maybe five or six days ago it wasn't that long ago insanity 27 000 lawsuit okay so without reading this it's not very long but um somebody borrowed 25 000 from their wife's grandmother borrowed 25 000 from their wife's grandmother okay and uh this person was excited got the money into his account by friday morning all right this is five days later monday money in account friday morning it was gone plus the 2k he was supposed to quote learn with five days gone someone else's money your wife's grandmother fast forward a few months the loan came from his wife's grandmother now the grandmother has filed a lawsuit his wife has left him and moved across the country also has custody of their kids filed for divorce and is now living with a friend of theirs his life is ruined permanently now i am sure there's probably a little more to the story than just that but i have a feeling the 25 000 was a pretty big part of it again there might be more to the story but how do you borrow 25 grand from someone and then blow every penny of it two reasons get rich quick no money management that's it get rich quick no money management this is not an easy thing to read somebody's not seeing their children over this someone's getting a divorce over this and on top of those things they're going to have a lien put against them because they're probably going to lose in court depending if they what type of an agreement they had is going to have to pay back just 25 000 on top of it it's it's i usually give people a hard time and i laugh at a lot of these this is just sad now the point of going through this is this is a serious business we just got done talking about how wonderful the business is because you can trade from anywhere in the world that you want to trade but you don't want to do this either right this is a very very serious thing and i'm not going to harp on this person this was just a foolish mistake and this mistake isn't just a financial mistake it's costing you your family your kids and you're still going to have to pay the money back too so i would just say to you guys please take this stuff seriously take your money management seriously to succeed you first have to last if it's your own money that's your choice but when you're borrowing somebody else's money man that's tough we've all made mistakes in life but this is pretty egregious five days twenty five thousand dollars all right serious stuff manage your money all right so let's dig into today's topic um we're going to talk a little bit okay not in huge detail but a little bit about transitionary retest and failures okay because i don't talk about this topic very often so you can see here on the left hand side we're in a downtrend lower low lower high lower low lower high lower low and we still actually have a lower high here but what we get over here once we break this yellow orange line whatever it is you this is what we call a trendlined break right so this is a trend line which again we don't talk a ton about here at live traders even though they are useful um you're breaking above the trend line okay that's the first warning sign the first indication notice it says not an action event this is your first warning sign that perhaps the downtrend is ending we don't know this yet okay but this is your first sign that maybe the downtrend's ending maybe momentum is slowing down you'll also notice in here there is a moving average okay you'll note that it's not just breaking the trend line it's also breaking above the moving average so that's check one check two breaks the trend line warning sign not an action event breaks the moving average warning sign not an action event re-tests and fails to put in a new low right here so it re-tests the prior pivot but it does not go below the green line warning sign possible action event we'll talk about that a little later possible action event but we're still in the warning sign stages here then what happens possible volume spike which is not on the chart extra confirmation possible extended move many bars down extra confirmation right what i'm saying is is the context matters okay taking something in a bubble or out of context doesn't do us any good so i want to know what does the bigger picture look like here is this stock down like 27 days in a row is this stock gone from a hundred dollars down to 20 and then it breaks the trend line and then it has a big volume spike and then it has a higher low right so all of those things put together are going to help us read the chart better but it's still an aggressive area to buy this chart you generally want to wait till it to put in at least at least one higher high okay and one higher low technically speaking we are still not in an uptrend yet right we've only put in one higher high and over here two higher lows well the definition of an upper end is multiple which means two or more higher highs and higher lows two or more higher highs and higher lows we don't have that but one of the safest areas on this chart is right here see the the rising moving average see the the green pullback here why because now you have a higher low all right now you've broken the trend line now you've also put in a higher high and remember for those who have taken professional trading strategies what was the ceiling becomes the floor so this red line was the ceiling on the way back up but now over here it's broken through it and it becomes the floor on the way back down so this is one of the safest areas you can buy on a chart because of all of the signs you've gotten all of the confirmation you've gotten and now you're in between what we call a stage one and a stage two which is a transitionary period between stage one and stage two so we're basically going to talk about this today but we're not gonna talk about it um in terms of uh you know charts that i make we're actually going to look at a real chart and go over this okay so the first chart we're going to look at is this but this is not the one we're going to spend the most time on okay so note stock is moving up moving up moving up and then it goes lower lower lower lower lower from 28 dollars down to 10 but notice on the way down you have a big bottoming tail on a big volume spike and then it breaks above the trend line right it bothers you no it doesn't put in a high or high but it does break the trend line so that's warning sign number one oh okay this stock has moved quite a bit lower from 28 to 10. big volume spike bottoming tail breaks the trend line all of these are warning signs not one of those things none of those things are action events there are warning sign events okay then we pull back and we get a re-test okay note the retest also has a volume spike on the green bar and it is a higher low so the question here simply is how aggressive do we want to be all right because as it said on the last slide you can buy here but it's much more aggressive okay in this case it bounces off the low on volume with a higher low as well and gives you a little bit of a three bar play now this is not a traditional three bar play we do not generally take three bar plays inside or out of a buy setup okay so in this case you could choose to take this or what you could do is wait for it to put in a higher high over here and look for a lower time frame entry because this is a daily chart you could look for a lower time frame entry but the point on this chart is to get you to understand how stocks go from a downtrend to a sideways trend to an uptrend all right it doesn't just happen in one click right to get confirmation is usually to have that higher low double bottom retest usually a higher high volume spikes etc and so forth so again to repeat myself for the 17th time you want multiple concepts converging in an area to get the highest level of confirmation which is also the highest accuracy in your trading so let's take it to one more chart and this is the chart now that we're going to spend the time on okay we're going to look at this like six ways from sunday okay so we have a stock here that is moving lower on the left hand side of the chart okay red bar red bar red bar bounces up pulls back bounces slight pull back bounces pulls back bounces pulls back bounces pulls back but note what we're seeing here we are seeing a micro time frame in this case i believe it's a five minute chart a micro time frame transition a stock that was going from a stage 4 downtrend into a basic double bottom re-test with a higher high higher low higher high higher low that ultimately moves back in to a stage 2 uptrend but on a micro time frame okay on a five minute chart so now we're going to talk about good trades versus bad trades all right because not every one of these buy setups is created equal and this is the point i want to make in general today is just to because a stock has two higher highs and two higher lows doesn't make it an uptrend or a downtrend just because a stock has you know two lower lows and two lower highs doesn't automatically make an uptrend or a downtrend all right and what i guess what i'm my point simply is be very specific with your entry criteria you know you guys should have pre-trade checklists where you were very detailed and very specific about what you have to see before you take a trade and i see it frequently for example imagine a stock shoots up and it goes from seven dollars to ten dollars on a five minute chart think about what i just said from seven to ten the stock pulls back two bars from ten to nine and you're like all right i want to take the buy set up you're like whoa whoa wait a second that stock just moved forty percent right from seven to ten dollars and it's doing a one dollar pullback and you want to take a shallow retracement buy set up you don't think maybe that stock's tired so this is what i want to talk to you guys about today is the quality of the patterns you're taking is very important okay the quality of the patterns you're taking is very important so take a look let's rate these trades okay so we have one two three four five pink arrows here good trades versus bad trades so let's start with number one okay let's start with this one to the left all the way on the bottom here what do you guys think about this one on the bottom all right this flat pink arrow good bad crappy love it hate it so most of you guys are saying too aggressive crappy aggressive too dangerous all right and guess what you would you would be right right this is a pretty dangerous setup the stock hasn't even put in a higher low yet so we're still clearly in a downtrend and the other and this is what i want you guys to do though at first you're like oh yeah crappy but we want to know why it's like when you do a math you know question in school you can get the answer but the teacher want to know how did you arrive at the answer right what was your process so what's our process here well we have a declining moving average don't we okay that's not a bullish sign all right we have a stock that's clearly put in multiple lower highs pivot high here lower pivot higher that's two okay we put in a lower low here so really there's nothing here to suggest we should buy this because we're in a downtrend we're below the moving average we've put in uh two lower highs we put in a lower low there's no volume spike down here even on the bottom until there's there's truly nothing here to say yeah the only thing you can scratch at here the only thing is it's what i would call a weak new low right it's not a significant new low it's a weak new low right in this case you would call it a strong new low right because it's it's a stock that's moving lower so it's not what we would call a significant new low right peek-a-boo lower that's the only thing you can grasp at everything else is against you here you wouldn't buy this but yet guaranteed 100 chance sometime in the next week someone in the chat room will look at a stock just like this and say jared it's a double bottom retest let's buy it are there scenarios in which we might justify buying this there are but they're few and far between maybe it's a climactic move or a stock that gapped down 40 percent like salvation we were very aggressive right we were very aggressive so there might be a scenario in which we could buy this but they are very few and far between and 95 of the time you're not ever going to take this long so now let's move to this one all right if we go here and in fact let me let me go over here all right there we go okay we'll go over here my apologies all right this is the same chart we just talked about so your answer is 27 47 your stops 27.36 i mean this is tough right this is really really really tough if you were to buy it it would look like this target over here target over here but we're not going to buy it because it's just not a good bicep it's far too aggressive again you might be able to find an exception but most of the time you're going to stay away it's far too dangerous and the other thing too is i don't want to hear your hindsight bias how later on you're like but it moved up two dollars we don't care right in real time not a good buy setup okay now let's move to the second one okay this is a stock that has now put in a little bit of a higher high let's put in a higher low okay one of the things to consider here right one of the things to consider here is if we look to the left what do we have here right here where i'm circling is right there what is this talk to me right there what is it i'm circling it indecision consolidation struggling support uncertainty come on only one person has gotten half the answer right come on guys it's a failed cell setup it's a failed cell setup yes if you were to take the strictest definition from the textbook does this not have two or more higher lows yes does it not have two or more higher highs yes does it not have a topping tail yes it does is it in a downtrend technically yes it is it's a failed cell setup see you guys are looking at this side of the chart stop cover it cover this side of the chart and just look at these bars right here right where this green line is it absolutely is by textbook definition it is we can have a debate whether it's a good one or a bad one but we're not going to debate whether it is one because it is one good not really the retracement level is pretty deep but it is technically a cell setup okay now the reason you guys ignored it is because you're all you're already looking over here to the right you're already focused over here you've just ignored now imagine if you put a piece of paper over this right imagine let's just do this for a second all right just for fun let's do this okay it's different isn't it right now it looks a little different now you're looking at it going hmm that doesn't look like such a terrible sell set up in fact what if we whoa hello what if we move it to right there okay this is why it's really important to cover the future when you're when you're looking at charts and you're reviewing charts because in real time you don't know what the future brings right it's true you don't this is why i can't stand hindsight bias so yeah it has a topping tail it has higher lows it has higher highs it isn't a downtrend it's actually on the moving average right i wish encore cheaper right anyway some of you might be tempted to take that it's tough right so let's move along from that and talk about the buy setup so now what we have is a failed sales up now why is this important okay i'm on powerpoint brayden i'm sure you have access to microsoft office go to best buy it's 149. all right so why is this important why why is this important anyway just tell me why do i want to talk about this failed cell setup what is a failed cell setup really what is a failed cell setup really this is out of professional trading strategies good you're on the right that's it it's buyer stepping in it's confirmation of buyers it's a bullish signal buyers coming in it's a strength confirmation that's what i'm looking for it's a confirmation of strength so it makes my decision to take the next buy setup a heck of a lot easier because now i see a stock that wasn't a downtrend even though it's a it's not a significant new low it was still in a downtrend all of a sudden i say a failed cell setup buyers are starting to take control and note it's in an area where the moving average starts to change direction and it now becomes the first higher low it once it breaks above this topping tail right there this green line this pivot becomes the first higher low so now we are potentially we don't know yet potentially starting to transition okay so not a significant low here a failed cell setup now becomes a higher low buyers are stepping up we still have some struggles this pivot okay what happens this wide range green bar takes out that pivot it's a new pivot high which is another bullish sign so now what do we want to see after we have a new a higher low we're above the moving average and we broke the prior pivot what do we want to see what's the next thing we want to see talk to me guys all right right now again i'll repeat we have a failed cell setup a new higher low and we broke above the prior pivot what's the next thing you want to see a pullback with what a pullback is correct a pullback with what come on no we do not want to re-test we do not want to re-test you want a pull back with what thank you tuna tom thank you tuna tom if someone else said it i apologize thank you tuna tom with a higher low you won't you do not want to retest this prior low if it's really strong why would you want it to retest a prior low you want a higher low to prove the buyers are stepping up even sooner than they stepped up previously okay this is very important here because we have to i said we're going to get granular we now have a failed cell set up with a higher low and a higher high the next thing you want to see is a smooth sequential pullback with a higher low and in this case we get a higher low and it's at the moving average and it's roughly a 50 retraction if you take the red line as the high and you take the green line as the low this is roughly a 50 retracement at the rising moving average hello we're starting to do what put multiple concepts together to increase the accuracy of our trade and it's all right in front of you don't put your opinion on the chart let the chart speak to you okay but you're going to miss it if you're always looking far to the right in hindsight this doesn't happen in real time so stop looking to the right seriously just stop looking to the right what you want to do take a piece of paper put it over the chart and go each bar by bar by bar one at a time and go now what after you see the one bar what would i like to see on the next bar okay now i see that what would i like to see on the next bar oh look a green bar here two lower highs two lower lows fifty percent retracement driving moving average now we have what higher high number one higher high number two higher low number one higher low number two whoo now we officially have an early stage two uptrend which makes this entry at 2758 by 2751 quote money money now can we dissect this even further and criticize it sure we can would i have preferred a better or stronger higher high yes i would have this red line here this wide range green bar i would have preferred this to go a little bit higher why take out this pivot even more prove to me you're even that much stronger but we can't be choosy sometimes when we can be choosy but you understand what i'm saying we got almost everything we wanted to see there's no reason not to take this buy setup the only reason would be some news report coming out like fomc or maybe the market just starts to tank immediately otherwise there's just no reason not to take this okay there's just no reason and then what happens we take the bicep the first target area not a great target air it's only 10 cents but it's only a seven cent stop loss it's one and a half to one at the first target area okay again not great but okay second target area is the prior pivot high the last pivot remaining which is 2790 which happens to be 32 cents away which is four and a half r that's better so we move up we move up now what's the general rule one two three four five bars up you guys have seen it before we've talked about it three bars up think about selling or think about a pullback four bars up really think about selling or really think about a pullback five bars up really really think about selling or think about a pullback well once you get up to here in the prior pivot you should basically be out of this trade or be out half of the trade now it depends on your management style if you're a pivot based trader you're only probably going to sell a third or half of your of your your shares and then wait for a pullback and then add and reduce add and reduce okay so now we know that this buy setup right here is really nice now what now let's move on to the next one okay now we have a second buy setup right here okay what do we know before this buy setup ever triggers what do we know basic things tell me some basic things before this buy setup ever triggers just about the chart in general what new information do we have now anything have we learned anything vlad has it we know we're in an uptrend now right we're not transitioning anymore right we are now firmly in a new stage two uptrend it's a micro uptrend because this is a five minute chart but that's okay it's still an uptrend okay that's really good we also know for this buy setup to work we're gonna have to overcome a double top that's not necessarily easy right so we're we're juggling at this point right so we know we're in an uptrend good we know we're at or near the rising moving average good we know that this bottoming tail is at prior price support right minor price support good we know the pullback is perhaps 40 50 good so we have all these checks good good good good good this is where your pre-trade checklist becomes really important because we do have to make decisions on the fly and sometimes those decisions are really obvious and sometimes they're not as obvious okay so in this case we know we're in an uptrend we know we have a forty or fifty percent retracement we know we're at a rising moving average we know we have a bottoming tail we know we have a narrow body bar but we have some congestion at the top some overlapping bars that if we drilled down might be a two minute or a one minute consolidation well we don't like square tops that's a concern and there's a prior pivot high so now we have two pivots what do you do here i mean this is a genuine decision what's the decision you got to make well one 27.79 is the entry 2770 is the stop nine cent stop 11 target okay what do we do here trade management felix becomes very important so let's let's talk about it if you're doing one r targets probably an okay trade to take probably right if you're doing two r targets but you move to break even at one r probably an okay trade to take probably probably worth the risk but what if you're doing two or three are all or nothing now now it's not as clear as it was i'm not saying you can't take it i'm saying it's definitely a concern at this point it's become more risky because you don't have protection and let's be fair we are in an uptrend but we're also at a double top and this is where putting in a higher high would have made me feel much much much better so if this stock had moved significantly above the red line like say to 28 okay right say it had moved we wouldn't be having this discussion but it didn't so there's clearly still a few sellers left in the building because the stock pulled back now in fairness it was up five bars when it pulled back but it still created a double top for me i would take it because i don't do 2r all or nothing and i raise my stop relatively quickly but if you're doing all or nothing there's a decision there okay there's a decision there all right now now let's move to this all right so now we've moved up another one two three four five six bars in a row very strong move by the way we pull back and we have another buy setup now by definition we have another buy setup two lower highs multiple two or more lower lows in an uptrend that's it that's all the book says two higher two uh lower highs and two lower lows in an uptrend relatively sequential pullback well we could argue about the sequential but what about this now what about this buy setup good bad ugly what do you guys think give you a second to think about it what do you think about this bicep depends on the atr of the stock okay overextended not good well let's break it down let's break it down okay we're up one two three four five six bars so we know where their strength here that's good got a little far from the moving average and pulled back towards the moving average but this pullback is it's pretty sloppy it's a very choppy overlappy pullback right the overlap on every one of these bars is fairly significant it's not really a sequential pullback they actually have relatively equal bottoms here it's at the moving average okay that's a plus check that off on your checklist the stock is up quite a bit that could be a negative area of your checklist we take a look at the risk to reward it's a seven cent stop loss and the first target is the 20 um sorry where is it 2816 area so you have 11 cents so that's one and a half but this is an area or or a situation in which you'd probably want to drill down to a lower time frame the one minute or two minute why because i have a sneaking suspicion it's really ugly on the one or the two minute chart i know this because of the topping tail here the little doji bottoming tail here this narrow body doji bar right here this is indecision what's happening here buyers and sellers are fighting it out and the pullback retracement level is pretty shallow like you wanted to really see it pull back to this green bar and people ask this all the time well why why would you want to see it pull back to the green bar jared if buyers are stepping up sooner that's bullish no no it's not not always because sometimes they step up earlier but they haven't rested well enough or long enough yet so that's why and we talk about this in pts the 50 retracement is the ideal retracement because the 25 retracement means it hasn't gotten enough rest and usually a bounce from a 25 retracement does not put in a significant new high it usually fails sooner because it hasn't rested long enough okay davey dave asked which time frame moving average are we looking at one davy dave it doesn't matter okay that's the first answer because truly it doesn't matter this could be a yearly chart it could be a one minute chart it could be a monthly it could be a 60 minute it doesn't matter but we're looking at a five minute chart okay this is a 20 period moving average but it doesn't matter what time frame we're looking at it doesn't okay but this is really not a very good bot setup it's just not there's too many negatives can we find some positives absolutely of course but this is one where if you're going through your checklist you're probably going to find a lot of empty boxes check check check maybe two or three and then about four or five empty boxes that's not good enough it doesn't matter if it could work anything could work a stock that's up 27 days in a row could go up to 28th day but we're not we're not looking for that we're looking for odds based results right i can't know the future but i can use current odds to help me predict the future and in this case i am not getting super excited this skirt is not getting blown up here right we're not walking past the victoria's secret window here all right not a bad analogy these days but anyway let's take a look at the last one right what about this first question yes or no wire in is this by the textbook definition setting up to be a buy setup yes or no by the textbook definition no nope no no no no definitely no yes to extended extending volume yes it is no yes you guys aren't paying attention are you the vast and majority of you are not paying attention we just talked about this on the last buy setup all you need are two lower highs and two lower lows in an uptrend so does this have two lower highs well there's one there's two there's three there's four there's one there's two there's three are we in an uptrend yes or no yes or is it a new high though victor yes we are in an uptrend there is nothing here that says we are not in an uptrend we're not talking about whether we might soon be transitioning we're talking about right this very second we are in an uptrend and this stock has two lower highs and two lower lows buy the book it's a buy setup and that was the exact question i asked buy the book per the book yes it is so the next question is the important question is it a good one no it's not it's crap it's total crap okay why is it crap well let's take a look okay it's crap because this is a weak new high right this is the previous high at like 28 16. what's this high 28 21 it put in a 5 cent new high what does this weak new high tell us talk to me three letter answer sorry three word answer three word answer it's a weak new high what does it tell us sellers coming in okay that's another way to say it it's another way to say it it's tired that's another way to say it the three word answer i'm looking for is momentum is slowing right this stock had a lot of bullish momentum on the way up higher high higher low higher high higher low higher high higher low higher high higher low yes but it's a weak new high notice guys take a look at this over here this right here from this high to this high significant right from this high to this high significant from this high to this high significant from this high to this high very insignificant it's a weak new high momentum is slowing sellers are creeping in but what's also important look at every green bar on the way up what do you see on all these green bars guys forget that it's green for a second what do you see on this bar this bar this bar this bar forget that they're green what do you see exactly right choppy battle indecision topping tails there's a fight going on here right there's a back and forth battle going on right here and the fact that it put in a weak new high tells you the battle is starting to be won by sellers right these are choppy overlappy sloppy bars it peekaboos over by five cents and then pulls back sellers are beginning to make progress they're starting to win the fight and then you get a pullback and the pullback is now significantly below the moving average momentum is slowing down here stock is tired now not only do we have the momentum slowing if we if we take this buy setup on the way back up the risk to reward stinks okay well i don't know if it stinks it's still okay but it's overlapping so you have more of a rounding top now right we don't have that v top anymore it's a rounding top with lots of overlap so this is one you would absolutely stay away from okay so if we break this all down we have we start down here right with this pseudo double bottom and we said it's too aggressive to buy this here okay then we have a failed cell setup right here which confirms the buy setup over here we determined that this buy setup was very good the second one was pretty good the third one was not so good and the fourth one is just utter crap okay so they get successively worse as we go up but you need to please put a piece of paper over the future because it's so easy to say you would have done something when you know what the result was but in real time it's it's different and almost no one except for one person two and a time got the cell set up the failed cell set up here which means you're looking too far into the future okay so a couple more slides and then we're gonna end this this this is what nice transitions look like okay breaking of the trend line higher low higher high higher low higher high higher low oh my goodness these two buy setups are so disgustingly good that it just wow that's a weekly chart from 20 this thing goes to 50. now i'm not saying you would have held it to 50 but you would have held it to about 37 you would have added right there and maybe you would have been out on this big red bar but this is what a good transition looks like i mean that is so unbelievably incredibly nice at twenty dollars and again at like twenty four dollars all right that's what a good transition looks like now again i don't know if you would have held through all this crap but you already made a bunch of money here you know 17 move on a dollar stop is pretty good okay same here breaks the trend line puts in a higher low then breaks the trend line puts in a higher high and a higher low above the moving average wow bottoming tail doji bar it's beautiful okay it's beautiful all right so that will do it for this week's lecture i hope you guys learned a little bit about good buy setups versus bad buy setups how to more accurately and properly read a chart and drill down more granularly so that you're not missing anything and i'm telling you please a pre-trade checklist is your friend okay it really is your friend now when you're reviewing older charts hide the future information okay but when you're in real time trading have a pre-trade checklist and make sure it's very specific and if you don't get a certain number maybe graded i need 70 out of 100 if you don't get a certain number you don't take the trade it will make your trading much easier okay so i'm jared wesley of live traders we'll get back at it again next week [Music] you

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Keywords: stocks, trading, money, learn how to trade, learn to trade stocks, learn forex, learn options, everyday patterns for normal people, trading is fun, wall street, finance, greed, fear, gekko, rich, poor, learn the stock market, make money trading, the best stock course ever, money never sleeps, make a living in 1 hour a day trading the 3 bar play

Id: ZMQMTlAdtfg

Length: 43min 7sec (2587 seconds)

Published: Wed Sep 22 2021