Reminisst

$MRNA Breaking out of a massive stage 1 monthly base Now setting up in a tight weekly flag off the key moving averages Strong reaction following earnings.. Biotech has been strong all year Setting up for higher over $45

I've been talking a lot about undercuts and playing reversals that way BUT Another concept I've been trying to implement into my trading is the opposite of an undercut to the short side Ever notice how when you buy a breakout.. sometimes the failed breakout moves create super violent reversals? The concept is that breakout buyers and late longs get trapped at the highs and then add to the selling pressure on the way down In this choppy market.. every pop into the moving averages has been used as a level to sell into strength. Using this concept you can catch some nice downside ideas and get great entries without shorting the "hole". I call this concept the: "uppercut" or failed breakdown It looks like this: 1. Key level of resistance -Previous days highs -Range highs -key moving average overhead 2. Now price breaks above that high A proper uppercut usually has: -A quick break above resistance -Often increased volume -Sometimes long upper wick This is institutions grabbing liquidity and traders getting trapped 3. The most important part is NOT the uppercut. It’s the reclaim back through the level A proper reclaim looks like: -Strong push back below the level -Ideally strong volume -Seller stepping in aggressively When the markets start to retest the moving averages and there's a ton of overhead resistance... upside Ideas don't make as much sense anymore.. So now I'm looking for those failed breakouts and moves lower

Some examples of the uppercut/failed breakout $MA entered this one short on Tuesday when it failed to break and hold above the previous days high right off the 21 EMA So far working nicely Today I saw that $XLF was putting in an uppercut on yesterdays highs and rejecting right off the 8 EMA So I added $JPM short off the failed break of PDH.. so far got a nice first trim on it. This market has made it incredibly hard to short breakdowns.. so taking things short near the highs on the rejections has been the best way to get some good short exposure on This also gives you a better chance to stay in the position rather than getting shaken out

This isn't a market where you could just buy any stock and make money I only trade A+ Setups using undercuts which is why I make bank from trading I've created a simple guide to the UnR entry model so you can get A+ entries Like + Reply "Undercut" and I'll send it to you for FREE.