Course after MO

Okay, this course is for those of you who are interested in making extra money and have even
more passion than the others.

I reckon that you who read this have looked through the first course I took. Otherwise, you
need to look at it first before going through this.

In this strategy, there are several ways to enter the trade

We focus on rejection or break of resistance and support.

Trend for the day using trend lines.
Different candlesticks to look for.
Pump and dump.
The use of the RSI.

First and foremost, as we have gone through in the first course, we look for resistances and
support. We can combine this with a trend for the day, the use of RSI and various candlesticks

If you look at this screenshot, you can see that the previous support, becomes new resistance.
In this case it is a downtrend, which makes me consider short much more then long.
Outside the market open the volume is lower and I am looking for rejections of the support
line or resistance. Which is that it bounces up or down from the line it hits.
In this case I would short from points 5,7 and 8, where it rejects the resistance in a downtrend.

With this strategy there is less volume, and the price often goes slower than at market open.
Therefor you can move the stop loss as you are in profit, but it is still important that you have
some room since prices fluctuate a lot. If you go 3 points in profit and put your stop loss at
breakeven you will probably be taken out right away.
Support and Resistance with trendline:

This photo was taken with a 5-minute time frame. as you can see, it first forms a support, then
a new support that is higher than the previous one, then we can create a trend line. when it hits
the trend line for the third time, we can imagine it popping up once again, as it did on the
other two. therefore, I would then go long on point number 3 in this case, if it does not break
the trend line and go further down.

Later with the same trendline it breaks support and falls sharply. Then you would go short at
the big break when you are sure it does not reject and go up again.
Then this happens, if you went short at 36 075 and hold almost to the bottom you could get
150 points.
150 points with 6 contracts ($1 083) = $900 = 83% profit
Different candlesticks:

There are many different candlesticks that have different meanings. none of them guarantee
that something will happen, but I like to look for someone special when I trade. Feel free to
search online and read about different types, some may be nice to know. This is someone I
look for when it comes to rejections

This is called “Inverse hammer”. if there is a candlestick like this around a support, I see it as
another confirmation that it will go up again, but never use a candlestick as confirmation
alone. you can use this if it is close to a trend line or support line.

This is called “shooting star”, this works in the same way as the "inverse hammer" only the
other way around.

Pump and dump:

After a big Pump there is a dump, and after a dump there is a pump.

RSI:

RSI is an indicator that should show whether the stock is overbought or oversold. If it is
oversold, the probability of it going up again is greater. if it is overbought, the probability of it
going down is greater.

If the RSI shows around 80 or more it will mean it is overbought.

If the RSI show around 20 or less, it will mean it is oversold.
This is where you find the RSI and how to put it into the chart.

As you can see, the RSI and the chart have quite similar patterns. In the picture above you see
that there is a big red stick, followed by an "Inverse hammer" which I explained further up. In
this case, I see no support or trend line as the RSI goes below 20 and would not take a
position either. But this shows how the price often goes up after hitting 20 or below on the
RSI or goes down after hitting 80 or above on the RSI.

I do not use this indicator during market open since it is often heavy volume, and it does not
always match a lot of volume. If the RSI hits 20 at the same time the price hits a support,
there is an even greater indication that the price is going up. But never rely on one indication,
and nothing is guaranteed, so remember to look at the movement as well.