Amazing Power Patterns Chart Art Chart Of Day For 1-20-18 TQQQ

Harlan Pyan Author is a PRO member Rank: 71 Followers: 4 Votes: 16 Years Member: 1 Last Update: 20 January 2018, 10:41 Categories: Chart Patterns
Momentum Stocks
Swing Trading

Welcome to Amazing Power Patterns where we keep it simple by trading what we see not think hear or fear. Its really as simple as that.

In the stock market, there are only 3 things you need to know:

1. Uptrends and how to trade them
2. Downtrends and how to trade them
3. Changes In Trends and how to identify them





DISCLAIMER:
This material is strictly for educational and informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to buy any security or financial product that may be referenced herein. Further, the information contained herein does not constitute investment advice or investment advisory services. All securities trading, whether in stocks, options, or other securities is risky, people can and do lose money. Do your own homework. Trade at YOUR own risk.

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1-20 As you can see, thru the use of the current big picture uptrend channel that defines the whole uptrend we are currently nowhere near trend channel support. That zone and the 50 day average is in the $140-145 zone. You can also see Since the Oct. lows the 50 day and the green uptrend line define the current up trend as well. Ever hear the phrase buy support and sell resistance? Its clear to see we are nowhere near any sort of support currently. Those support zones also define one's fluctuation risk of buying here.

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1-3 Sure enough, The 12-18 'Late to the party' notes told you all you needed to know at that moment in time. As you can see since then its pulled back from 1080 to 1040 in the form of a pullback off highs pattern only to stage an upside crossover much like it did at the beginning of Dec.
12-18 Here we are with another good example of just how powerful the use of the 50 day ave. can be as well as side to side support at the $1000 level. Those two tools told you all you needed to know in advance of this current run. Now? Can you say late to the party? Buying here is buying AFTER its already ran 70+ points.

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12-21 As mentioned in the mid day update - Welcome to day 4 of sit and spin into the holiday.

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12-17 GOSH THE MORE I LOOK AT THIS CHART THE WORDS THAT COME TO MIND ARE- PUMP AND DUMP INTO YEAR END. Why do I say that? Think about it, if you are an institution long a gazillion shares of something when do you want to get out? When the getting is good of course. Think about this too, If you were long say a million shares of something that you are looking to reduce exposure in care to guess what is going to happen when you try to sell on a bad day in the market? You'll blow the stock up on yourself. In this sense, markets actually distribute while going up, for every buyer a seller right?
Said another way? You gotta sell your peanuts while the circus is in town. Think about it, once the circus (a ready and willing crowd) leaves town who are you going to sell your peanuts to.

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