After a number of corking neat setups including AER, CB, BA, all of which easily reached first profit targets, this week I'm turning the aggression down just a notch.
There are still decent and tradeable setups out there - and today's video has plenty on show - but they're not quite la creme-de-la-creme!
To be the best of the best, I want at least three of the Big Money Footprints clearly present, AND I do like to see the "shrinking retracements" (think reverse head & shoulders for bullish, and head & shoulders for bearish) as evidence of one side (say bulls) overwhelming the other (say bears) over the previous weeks or even months.
When all those factors are in play - plus a consolidation for low risk entry - then I have a clear picture that can be explained in terms of buyers vs. sellers, or bulls vs. bears ... and I have an oven-ready AAA trade setup. And with the VIP TradeFinder I can find them in seconds ... the only think I have to eyeball is the shrinking retracements, which we'll talk more about during our WiseTrader Summit Strategies Day on 5th December.
This week we do have plenty of Big Money Footprints, we also have consolidations and flags, so there are good trades for us ... they mostly just miss that certain X-Factor of including the shrinking retracements.
Remember, when you combine the Big Money Footprints with the shrinking retracements AND a current consolidation, then you have the most compelling setup. And if it's post-earnings ... then you're made!
With the WiseTrader Summit just two weeks away, and the Foundation warm-up day just a week away if you haven't booked yet, click on the banner below my signature and speak with my support team who'll be happy to help!
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