Tuesday, March 28, 2023

♟ The Most Important Chart on the Planet

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"I expect big banks like Goldman Sachs to bottom and then have a nice bounce."

Nate Bear, Lead Technical Tactician, Monument Traders Alliance

Today I'm going over the most important chart out there right now.

When it fires, either long or short, it should give us a clear market direction for the next couple of months.

Plus I have two potential trade setups to go over.

Click the image below to see the charts.

Watch This Chart For Market Direction
 

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YOUR ACTION PLAN

Five Below (Nasdaq: FIVE) has a very bullish daily chart and is currently building a bull flag near all-time highs. I'm looking to enter this trade on a pullback to the 55-day exponential moving average (around $195). I'll use a daily close under $190 as my stop, and I'm targeting a move back over $205, possibly to $210. I like the April 21 $195 calls, a call debit spread at $200 and $210, or perhaps an out-of-the-money call butterfly.

Five Below Chart

(Click to enlarge.)

P.S. If you're looking for more trades like these, I highly recommend checking out The War Room. It's a community run by veteran traders Bryan and Karim. Communities like this are where I cut my teeth trading, and the advice I received was a big help in developing my million-dollar TPS system. Right now members are guaranteed to receive 252 winning trades in their first 12 months of membership.

Click here to join The War Room.

Former CBOE Trader Reveals Wednesday Market Trend

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It's returned an 83% win rate.

Now he's GUARANTEEING he beats it...

You can't afford to ignore this strategy.

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TESTIMONIAL TUESDAY

"I closed the 5 Shares/Contracts I opened [on CAT] at $4.61 for $6.70. Love these quick wins! $1,045 on CAT overnight trade! Thanks BB!"
- Ednchina

"In [BAC] at $0.68 out at $0.54. not bad for an hour 20% nice one Karim."
- jv

 

INSIGHTS YOU MAY HAVE MISSED

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