Start your journey down the path of trading salvation with a headfirst dive into the first chapter of the VWAP bible.
Click here to learn all about what VWAP is and how it can upgrade your trading life.
Fractals AKA the money pattern
The Bobby “8-Baller” Eight takeover of Warlock’s World continues.
On Friday, 8-Baller got to work quickly with perhaps his most well known signature trick of the trade – the fractal.
A fractal is a piece of expert level charting technical analysis that can be used on multiple time frames.
It works on the one minute chart. It works on the five minute chart. 8-Baller has shown time and again that fractals work on the daily chart.
It’s at the heart of his time continuity trading strategy.
But on Friday, 8-baller kept things in the Warlock’s World spirit by using his impeccable charting skills on the 1-minute, or intraday chart.
Just look at this fractal on Invesco QQQ Trust on Friday.
Since it’s a little tough to see the thin red lines, we highlighted the fractal pattern with the dotted yellow lines. And the upside and downside targets are marked with the “X”.
Moving from left to right, the QQQ share price bounced around the top half of the fractal range.
The top range break of the fractal (the upper yellow dotted line), coincided with a break of VWAP. And the Qs ripped to the mutliday – or where 8-Baller had marked with an X as an upside target.
Then, as has been the norm lately, the market switched directions and rolled over.
QQQ started to plunge.
But thanks to his practiced tactical fractal skills, 8-Baller had a downside target as well.
Savvy VWAPians who understand that learning to trade like a Warlock means that you must be quick and nimble.
You need to be able to have a familiarity with your trading platform to quickly enter and exit trades.
Because if you were fast with your orders, had your stops in place, and listened to 8-Baller as he broke down the chart of QQQ in real time on Friday…
Your trading day could have been wrapped up with two profitable trades in the first half hour.
If you weren’t able to recognize, much less profitably trade this move…
I told everybody to go to cash. I called the Cathie Wood top. I’ve traded earnings reversal every day. We’ve been buying the market when everyone and their mother has been talking about bear markets and recession.
You can continue to let the market own you…
And learn how you can never be a victim of this market ever again.
That’s all for now, VWAPians!
Kenny “The Warlock” Glick
One response to “New to VWAP?”
July 11 2022