The next few posts will be a bit of an extension from the last series of posts on the sweet spot case study, featuring the stock symbol WYNN. This week, the stock opened higher and had approached the highs, although it is still short of breaking out of the June highs. Here’s what we’re looking at for the Daily chart, featuring Weekly guidance dots
We may come back to take a look how the trend continues to develop, but the next few posts will be about generalizing the stages that we observed in WYNN. As one reader wrote to me, ‘that was in the past, what about the present?’ In fact, the point of the series was not to feature a stock tip, but to examine a live case study. The story hasn’t ended there, but what we’ve seen can serve as a model for price action – in other words, a trade setup.
To demonstrate how this process happens again and again, I’ve taken selections, from the same Q&A call, which featured the Wintick screener list to find more of the same setup (3:04)
While we felt, at the time, the dip on Brexit news gave us an opportunity to find good stocks that were dragged down on macro, we don’t actually need such a narrative for this sweet spot trade setup to show up. Stocks in the list simply showed us the stocks that met the criteria & the same thing can be done with potential short opportunities. If you have questions about the screener demo, you can ask in the comments section below
In the following posts, we will perform a similar drill down into a number of the symbols that we looked at in this list
With the summer coming to an end, it’s back to school for students & that means traders are also returning from vacation. That makes this the perfect time to start incorporating these methods into your trading process.
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