TIMING TRADES WITH THE MARKET $LULU

Basebreakout my favorite play was back in action today. Right off the bat in the morning in the free live trading room, I mentioned best case scenario for the bulls would be a slight up or down day in $SPY $QQQ $IWM, basically long story short a DOJI Candle is what I was looking for.

At this point of time unless a stock has some catalyst behind it, I don’t wanna be shorting any stock. I was looking around for some names to go long all morning, but most of them acted really sloppy and the candles on those charts were all over the place. As usual I ask my guys in the trading room to look for stocks which are clean, hence lesser chances of getting chopped out. I came across $LULU which was one of the strongest stocks from yesterday and was eyeing for an entry to go long. Once I saw the pattern , basebreakout in this case, yours truly pounced on it and made a quick 5R reward to risk trade. The best of all, I timed it the markets as $QQQ was just breaking it’s intraday high as well, it helped me to get in pretty big in size with this trade.

Picture are worth a thousand words, so here it is