And how to time your entry and stop â â â â â â â â â â â â â  â â â â â â â â â â â â â  â â â â â â â â â â â â â  â â â â â â â â â â â â â â â â â â â â â â â â â â  â â â â â â â â â â â â â  â â â â â â â â â â â â â  â â â â â â â â â â â â â â â â â â â â â â â â â â  â â â â â â â â â â â â â  â â â â â â â â â â â â â  â â â â â â â â â â â â â Good Morning! In [Pre-Market Prep]( I often get asked about certain short setups⦠The most common one is the first red day. But early on in the pattern setup, the first red day can also look like a potential long setup⦠Which is exactly why we donât anticipate moves. Stocks can go either way and nobody knows which way theyâll go until they make a move. We want to wait for confirmation of a move in our direction before we enter a trade. And the right risk level is crucial to avoid big losses⦠Here are the chart levels you can use to determine where to enter and when to cut losses whether you go long or short⦠Use the AI trading system that alerts you to stocks before they have massive moves â [get it here]( Sponsored ð¨ Jeff Z is Going LIVE With a Huge Market Prediction Jeff Zananiri recorded a quick 1-minute video sharing details on the upcoming CPI report⦠He is going LIVE at 7PM ET TONIGHT⦠To reveal a NEW opportunity with explosive potential, based on the upcoming CPI report this week⦠And how heâs planning on exploiting this setup to score another big winner! [JOIN THIS WALL STREET TITAN LIVE AT 7PM ET]( The First Red Day Vs. The Weak Open Red to Green Picture this⦠A stock has been climbing for multiple days or weeks⦠[Short sellers]( are chomping at the bit to short the turd and are eagerly awaiting that [first red day]( when the stock gaps down ... Hopefully scaring out some long traders and creating a cascade of selling they can ride down. But long traders also have their eyes on the stock⦠Theyâve watched it go up and up without them in it. The stockâs sector has momentum and theyâre just waiting for a pullback so they can get an entry and ride more upside. So how do you know which traders will be right? Is the stock going to go down and take out dip buyers? Or are the dip buyers going to [smoke the shorts]( Nobody knows. Thatâs why we [make trading plans]( with strict entry signals and stop losses. Hereâs an example of the entries and stops for going long or short in one chart setup that can look like two different patterns⦠Elevation Oncology, Inc. (NASDAQ: ELEV) was yesterdayâs massive squeezer. It went from around 87 cents to a high of $1.81 â a 100%+ gain! But in the morning, it looked like it was having its first red day⦠The stock has been climbing for a couple of weeks. Yesterday it was trading red (below the previous dayâs closing price) in premarket and at the open... Thatâs a sign to short sellers that the upside move is over. So they start to [build a position]( They enter into any spikes at the open and risk the red-to-green level or the previous dayâs high. ELEV chart: 2-day, 5-minute candle â courtesy of [StocksToTrade.com]( On the other hand, long traders see a stock thatâs in an uptrend and want to get in⦠And this chart setup also looks like a potential [weak open red to green](. So whatâs the signal to enter to go long? A break above the red-to-green level. Then you can use the low of day or VWAP as your risk. Remember, the red-to-green level is also the short sellerâs risk point. That brings in shorts [buying to cover]( and long-biased traders entering on confirmation the stock could go higher. And all that buying can create massive upside moves like it did in ELEV⦠ELEV chart: 2-day, 5-minute candle â courtesy of [StocksToTrade.com]( It doesnât mean one pattern is better than the other, or that you should only go long... ELEV couldâve easily gone lower if it didnât break the red-to-green level. Shorts wouldâve won and dip buying long traders wouldâve had to cut losses. This example just shows you that no trader knows exactly what a stock is going to do. But we try to put the odds in our favor... I do that by waiting for confirmation and a break above [key levels]( before entering a trade. And once youâre in a trade, itâs crucial to stick to stop losses before you end up with a bigger loss. You shoot your shot with every trade â just stick to the plan and be ready to accept when youâre wrong. You can also use AI tools to help you with the right signals and goals for your trades⦠[Tim Sykesâ AI trading system]( alerted ELEV on Friday afternoon before it made its move. It gave an entry signal of 90 cents and a goal of $1.13 â ELEV hit a high of $2! So [get the tools of the future]( to help you trade. Wait for confrontation before entering and know your risk level. If you donât stick to the plan, you could end up with huge losses. Have a great day everyone. See you back here tomorrow. Tim Bohen Lead Trainer, StocksToTrade Sponsored Elon's Astonishing Move Hold on to your seats⦠Tim Bohen is exposing Elon Musk's SHOCKING pivot to a $23 trillion market. It's a move that could potentially send TSLA and five tiny âsilent partnerâ companies soaring to unprecedented heights⦠Don't miss out on this remarkable pivot that could reshape the future... [Click here to see Elon's Endgame now]( Sponsored ACCESS NOW: Click to activate these complimentary membership gifts and receive daily market intel. [To The Moon Report Weekly Stock & Crypto Watchlist]( Recommended Membership Gifts
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