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Falling Wedge Breakout - TA, FA, PA looking greatWhat a year from Green Growth Brands thus far: a deal with multiple mall operators (including SPG), and now a deal with Abercrombie & Fitch to bring their CBD products to 160 stores. - From a fundamentals perspective, this brand is as disruptive and prominent as they initially appeared to be In my opinion, price action has not caught up to how much this company has already accomplished. With the recent deal with Abercrombie, we can see a tremendous increase in volume in the past couple days (typically a precursor to price volatility). Additionally, we have successfully broken out of a pretty long falling wedge. I have entered a long and will be taking some profits at the POC line (yellow dotted line), and will be leaving some capital in this ticker for a long time as well. Personally, I see this ticker hitting double digits within a couple years.
OTC:GGBXFLong
by pharaohtrader
JWCA:TSXV - James E Wagner Cultivation: potentially bottomingJWCA:TSXV - James E Wagner Cultivation: after breaking down from the 80c range it was trading in for a couple weeks JWCA has so far found support just above a previous consolidation zone from mid January. watching for a move up above 76c and 80c as potential confirmation. The MJ sector is currently weak still and despite positive news today from their JWC2 facility, it was not able to hold any gains. Price action remains stuck under the 50dma & 200dma, with a potential death cross coming this week on the two averages. While these indicators are not in a bullish setup, I remain long term bullish on the stock. Near term catalysts: first harvest from phase 1 JWC2 facility which will represent their first harvest for recreational use greatly expanding revenue. Just announced JULY 2 that they doubled the capacity at JWC2, with the next phase getting licensed from Health Canada and will be into production ASAP. My opinion is this little LP has some great IP in their Growth Storm Technology as well as great quality cannabis and is significantly under valued relative to peers on a capacity basis yet which tend to have lesser quality cannabis.
J
by justin_paul
3
How to Trade to Win"Those who lose - trade not to lose. Those who are successful - trade to Win." Losing Vs Winning Most traders are more focused on not losing than they are on winning. Do you understand what this means? This means you are acting not in your best interest, but against your self. By focusing on how much you can or might lose, or on not losing, you increase the likelihood of making mistakes which ultimately lead to a losing traders equation, and a negative equity curve. Profitable traders do not care about losing. They understand it is part of winning. They focus on winning. What is the best move in this moment? Should I get out or continue to hold based on what the market is telling me? Winning traders accept the risk totally and completely; before getting into the trade. In other words, they have already lost what is on the line. Therefore they act in their own best interest, not based on their thoughts about what they could lose, but based on what the market is telling them to do in this moment. Other than this psychological difference, here are a few other key components on How to Trade To Win. Defined Edge - Every trader who is making money in the market has some form of edge which he employs. Even if his edge is purely intuitive. This is extreme and rare however, and most traders have clearly defined their edge and will only trade that edge. This removes randomness. Many beginners think they are going to study the market and be able to trade the market no matter what it is doing (trade intuitively). This is simply not the case for most. The purpose of studying the market is to identify opportunities in form of an edge. An edge is a setup or context which repeats itself over time. It might occur once a day, once a week, or once a month. It does not matter. All that matters is that you only trade your clearly defined edge, and leave the randomness behind. For more information, you can read about the edge I use in every market I trade. We also describe how you can develop your own edge, and trade it in any market. Stop Doing, Relax Efforts - If you are losing in the market, chances are you are doing too much. Many beginners, and even experienced traders think they must be trading in order to be a successful trader. This leads to random trading, over trading, and mistakes which compound themselves. You end up digging a hole, and instead of looking for a way out, you look for a different shovel. The harder you try to make a profit, the more you do, the more actions you make, and the more you lose. The market rewards those who are observant, disciplined, and most importantly patient. The market takes from those who try too hard, and do too much. If you dont believe me, try as hard as you can to make money, and see how you do! By relaxing your efforts, you relax your mind. In turn relax your actions and decision making. You do not have to trade every day to be a profitable trader. It sounds paradoxical doesn't it? How can I make money trading if I dont trade? By only trading when it is appropriate like when your edge is present, you better your odds of success. Profitable trading does not come from trading constantly. Profitable trading comes from the act of non-doing, and out of a state of emptiness. Profitable trading is effortless, it comes out of waiting for just the right moment before taking action. And then waiting some more while the market proves you right or wrong. Profitable trading is not forced; it just happens. Active VS Passive Trading - This is very similar to the previous topic. Active trading is a trader who is constantly in the market, trading whatever he see's or feels right. This trader is often wrong, and when he is right he makes the mistake of exiting too early due to fear. This leads to a negative traders equation as he continues to struggle to do the right thing. An Active Trader mentality is one which does not believe in "non-doing." He believes he must, and can, do something. He is afraid of missing out and is often swayed by thoughts and emotions. So he continues trading never looking back, and at the end of the month cannot figure out why his account is in the red. A Passive Trader is the opposite. He passes on more trades than he takes. He does not care about what he misses out on. He only cares about what he takes and the actions he makes in the market. He does not force trades, he just watches the market until he knows what to do. Or he waits and waits until his edge finally sets up. He is passive in his efforts, rather than active. He does not care if he doesn't trade today, this week, or even this month. Trading is not what is important to him; winning is. He knows that profits come from sitting, waiting. Because he is willing to wait, he is peaceful. And profits continue to come into his account, effortlessly. For more information on developing this type of mentality, see below. We also detail how to understand markets through price action, how to create, define, and employ an edge, and how to develop your traders mentality to succeed in markets. If you found this helpful please like! Feel free to comment or ask questions
Education
by tradersmentality
GWPH Profit Taking There are signs of profit taking at the new all time high of GWPH (tails, weak breakouts, reversal attempts). One more push up would form a nested wedge and a larger wedge reversal, increasing the probability of two legs sideways to down. If there is also a buy climax, it would form a parabolic wedge reversal where strong bulls will take windfall profits and strong bears will look to sell. If instead the bears start getting strong follow through with consecutive bear bars closing on their lows, the high will likely already be in. If this becomes the case, prices will begin testing lower, possibly all the way down to the 110 higher bull low and bottom of the large channel / bull flag trading range. If you found this helpful please like and share! Feel free to comment or ask questions.
G
by tradersmentality
1
CGC Two Sided TradingCGC is beginning to develop some two sided trading and transitioning into a broad bull channel / bull flag trading range. (All channels are a form of a slanted trading range and ultimately evolve into a large trading range). Prices are currently around the middle of the trading range, where the directional probability is close to 50/50. The high 2 buy setup a few weeks ago failed to get bull follow through. The bears want a test of the 28 low and a breakout below. The bulls want to keep the 28 breakout gap open as a sign of strength and create a higher low / large high 2. Prices will likely remain mostly sideways over the next several weeks or even months, as both sides fight for conviction and follow through in their direction. If you found this helpful please like and share! Feel free to comment or ask questions.
C
by tradersmentality
MJ Breakout Mode - Expanding TriangleMJ is the center of a large bull flag trading range and expanding triangle. Last week formed a second entry for a higher low and a potential start of a second leg up. The selling pressure down from the 38 lower high has not been strong, but the directional probability at this location is close to 50/50 with a slight bull advantage. There are still bull gaps open below, but not yet a clear and strong higher low. The bulls will need to keep these gaps open to increase the likelihood of strong bull trend resumption. More likely there will be profit taking at new highs and lows, and failed breakouts, contributing to the large expanding triangle. If you found this helpful please like and share! Feel free to comment or ask questions.
AMEX:MJ
by tradersmentality
TLRY Bull Follow through from parabolic wedge bull flag So far this week is a bull follow through bar. The bull breakout gap is still open below. The bulls will likely get two legs sideways to up even if only a small rally and test of the 78 tight trading range. If the bulls get strong consecutive bars over the coming weeks, it will increase the likelihood of a second leg up and test of the 160 high. If instead, the rally is week, the bears will look to sell around the 100 lower high and once again try for a test of the open. If you found this helpful please like and share. Feel free to comment or ask questions.
NASDAQ:TLRY
by tradersmentality
ACB 50/50 Probability - Breakout ModeACB NYSE is currently in the dead center of the bull flag trading range, and a converging triangle. This is where the directional probability is very close to 50/50. However the bulls have a slight advantage because it is a bull flag trading range, and there are bull gaps below. Prices are currently stalling at the failed bear reversal, where trapped bears may soon buy and contribute to a rally. However there is no valid but setup yet this week. The Bears want a test of the 5 low, and to fill the bull breakout gap. If this gap is filled, it will decrease the bull strength and prices will likely remain range bound for the next 20-40 bars. If instead the bulls keep the breakout gap open and form a higher low in the coming weeks, it will increase the probability of a test of the all time high and possibly bull trend continuation. But since prices are in a trading range, there will probably be some profit taking and short selling at a new all time high, unless the bull rally and breakout is exceptional. If you found this helpful, please like and share. Feel free to comment or ask questions.
A
by tradersmentality
ACB 50/50 Bull Flag Trading Range - Breakout ModeACB is currently in the dead center of the bull flag trading range, and a converging triangle. This is where the directional probability is very close to 50/50. However the bulls have a slight advantage because it is a bull flag trading range, and there are bull gaps below. Prices are currently stalling at the failed bear reversal, where trapped bears may soon buy and contribute to a rally. However there is no valid but setup yet this week. The Bears want a test of the 7 low, and to fill the bull breakout gap. If this gap is filled, it will decrease the bull strength and prices will likely remain range bound for the next 20-40 bars. If instead the bulls keep the breakout gap open and form a higher low in the coming weeks, it will increase the probability of a test of the all time high and possibly bull trend continuation. But since prices are in a trading range, there will probably be some profit taking and short selling at a new all time high, unless the bull rally and breakout is exceptional. If you found this helpful, please like and share. Feel free to comment or ask questions.
TSX:ACB
by tradersmentality
JWCA:TSXV - James E Wagner Cultivation: trying to curlJWCA:TSXV - James E Wagner Cultivation: trying to curl while general sector is weak, aside from the brief pop two Fridays ago this has built a decent base in the last three weeks in the high 70c to low 80c range. 81c is currently the biggest psychological resistance as we haven't had any ability to hold gains above it, 81c will also represent the middle BB line. Also remains stuck under the 50dma & 200dma. While these indicators are not in a bullish setup, I remain long term bullish on the stock as near term catalysts such as oil sales license is expected soon as is the first harvest from phase 1 JWC2 facility which will represent their first harvest for recreational use greatly expanding revenue. This little LP has great IP in their growth storm technology as well as great quality cannabis and is significantly under valued. TSXV:JWCA
JLong
by justin_paul
HEXO Bull Profit Taking HEXO reversed down from a nested parabolic wedge, larger wedge and large low 2. The follow through selling has been good. The bears will likely get a second leg down before taking profits and before the bulls will look to buy again. This market is still in a bull trend, but wedges often lead to two legs sideways to down, convert the market into a trading range (atleast temporarily), and sometimes reverse the market into a bear trend. The bulls will look to form a double bottom or higher low around the $5 low. They will need to keep the bull breakout gap open in order to defend the strength of the bull trend. Otherwise prices are more likely to convert into a bull flag trading range. If you found this helpful, please like and share! Feel free to comment or ask questions.
TSX:TLRY
by tradersmentality
3
ZYNE strong bull breakout or trading range?Although $ZYNE is developing some bull strength, it is still in a large bear trend or trading range. The bulls reversed the market up on the monthly chart from a large high 2, and will probably get some form of a second leg up. However since the IPO this market has been sideways to down, decreasing the likelihood of a strong bull trend developing. The bulls need strong follow through above the 25 lower high and a strong breakout above the all time high in order to convert into a bull trend. Instead, there will likely be resistance around the $23 bear gap, bulls will take profits and bears will try to form a lower high and bear trend continuation. If you found this helpful please like! Feel free to comment or ask questions.
Z
by tradersmentality
Is the bottom in for Fire & Flower? Looking at the chart for V.FAF it appears as though things can only go up from here? There's some speculation around Fire & Flower being acquired by Aleafia. Interesting enough, Certain directors and officers of Emblem have interests in Fire & Flower. In particular, Harvey Shapiro, a director and the Chairman of the Company, is also a director of Fire & Flower. In addition, Mr. Shapiro owned approximately 19.5% of the Fire & Flower Shares outstanding and controls and directs approximately an additional 65% of the Fire & Flower Shares through a voting trust. Further, prior to giving effect to the offering, Maxim Zavet, a director of the Company, owned approximately 4.2% of the Fire & Flower Shares outstanding and Nick Dean, the President and Chief Executive Officer of Emblem which was acquired "Aleafia" owned approximately 0.3% of the Fire & Flower Shares outstanding. Time will tell per usual.
FLong
by ScotianBot
Bitcoin Daily Chart AnalysisBull breakout this week, second leg up; risky place to initiate longs (high risk, low probability). Bears trying for micro double top and double top bear flag with July 25 swing high, and parabolic wedge. If bears get strong close on low today, prices will likely test the bull gap from May 10th. The bulls need to generate strong follow through above 8500. Upside currently limited by resistance. If bulls get above 8500, the next target is the 11670 start of the bear channel where a large trading range is likely to form. However there has been strong buying pressure since the parabolic wedge reversal. The bulls will likely get a larger second leg up but pullback likely first. They will try to form a double bottom or higher low around 5000.
CME:BTC1!
by tradersmentality
Lessons From an Experienced Trader #2Lesson 4     Know what you want in the market  Contrary to what most believe, successful traders do not actually trade constantly.  Attempting to trade constantly leads to increased commission costs, random trading, and compound mistakes.  In fact, successful traders spend most of their time doing absolutely nothing!  How long does it take to enter an order?  A click of the button.  A few seconds.  Maybe a few minutes at most to create bracket orders.  So what do Professional Traders do the rest of the time?  They wait.  They wait until the market offers what they want or are looking for. Then after entering they wait some more to see if they are right.  They wait for the market to provide them with the information to either hold, or exit. They allow themselves to Be, the trade to Be, the market to Be and do what it is going to do.  They do not force actions or attempt to make the market do what they want.  They wait until the action comes about on its own, until it is natural, a reflex.   If you do not know what it is in the market that you are looking for, you will fold under pressure and confusion.  A Professional Trader knows exactly what he wants (not just to make money), he knows what he is looking for in the market, and is willingness to wait for it to arrive.  By doing so, he is rewarded and paid by the market for his patience and willing to do nothing.  Even if this means not trading for hours, days, or even weeks depending on the time frame.   It is far better to do nothing and avoid unnecessary losses, than to try and create tensions, forced actions, and lose money.  You have to ask yourself "What is more important?  The actual act of trading, or making money?" Lesson 5    Define your edge An edge is what you have defined as being what you want from the market in the previous lesson.  This can be anything from a specific setup, to just plain context like a strong market.  If you do not know what your edge is, you will struggle to perform consistently due to randomness. Many new traders, especially those who follow price action, believe they should be able to trade the market no matter what the context is.  If you think you are just going to walk in to the market, trade based on whatever the market is doing and make money; you are fooling yourself.  Doing so will lead you to trade randomly, entering willy nilly at the market, and make many mistakes which will cost you your profitability.   Do you walk into Walmart or Aldi's without knowing what you want to buy until you get there?  No, you have a list of items, or at least an idea of what you need before you go.  Do you start a business because you woke up this morning and thought it would be nice to own a car wash?  Hopefully not.  You first identify an opportunity, and then create a business model after a lot of research.  Then finally you open the business. Of course everyone thinks or says  "well so and so does this and that, and he seems to be making money."  Sure, maybe he is, maybe not.  If he is, he has defined his edge and is simply employing it.  What someone else does has absolutely nothing to do with what you should be doing.   Once you have defined your edge, you must wait for it to arrive.  If the market is not offering what you want or what your edge calls for, you do nothing until it is.  If your edge is a trend trading method and the market is in a trading range, you do not trade until the market is trending.   If you have not clearly defined your edge, you should not trade.  If you do not know what it is in the market you want and are looking for, you have no business in the market.  Simple as that.  If you chose to do so, you are putting yourself at unnecessary risk and trading randomly. Yes this sounds harsh, but it is the reality of the market.  The market will not give you anything, especially if you don't even know what it is that you want!
CME_MINI:MES1!
by tradersmentality