Remember back in April when we mentioned the day to take notice, when TSLA pushed through recent highs and sold off strongly. If you guys think back to NFLX and some of the other days we showed "Days to take notice" when the overall trend of the stock has changed. Three months later and TSLA is still trading lower.
Let's look back at NFLX to see if there is another similar sign to take notice of.
Back in November there was a nice wedge pattern we were trading in NFLX, and after it put in a new short term high around $130 and sold off strong, it was a sign the tides were changing. Fast forward 40 trading days later the stock was trading over $50 cheaper.
By learning how to take notice of stock’s change in trend in real time will save you and I thousands of dollars in the long run.
Can you go out and find 2 stocks that had a similar sell off after making new highs and continued to trade lower?
Do you have balls?
Post 3 charts with a circle showing a day to take notice where the overall trend of the stock had changed. Now that was the easy part, anyone can be a Monday morning quarterback, now let's step onto the field and post 3 charts and circle where you feel is a day to take notice as a new trade is about to form. This could be a stock that was consolidating and is now breaking out, or a stock that you feel is very extended, or even a stock that is at its lowest low and is about to turn around.
POST IN THE CHART READING CHAT
Congrats on completing the Chart Reading Program! To move up to the Trading Psychology one last thing to do!