Let's Trade

9/3/21 - Unimpressive jobs report start markets uncertain

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We see a huge swing both ways in the pre market chart, with a bit of a rise in the volatility indicator. Could go either way today so may be a good idea to wait a bit for confirmation of direction either way, or find some stocks with relative strength.

Bitcoin, Ethereum and the rest of the crypto market making big moves over night, could be a good play to jump in and trade those markets today.

Buy setups and breakouts are my 2 favorite patterns to trade. Here are the criteria for each:

  • Buy setup requirements: Stage 2 uptrend or double bottom retest (W), 2 or more lower highs, less than 50% overlap on pullback bars, roughly 50% retracement
  • Breakout requirements: Narrow/tight consolidation, resting volume in core of consolidation, at or near high of day, tradeable void above
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    Let's TradeBy Derek Hutson