This is the trading playbook where the
charts do the talking and every session
makes you a better trader.
Hello, hello everyone and welcome to the
next episode of the trading playbook.
Happy Sunday, everyone. Hope you guys
had a nice and restful
weekend.
My name is Lawton Ho here at Verified
Investing, your host. Uh before I get
anywhere, guys, and before I give you
these three amazing trade setups, I just
ask that you consider liking this video
and subscribing to the Verified
Investing YouTube channel. It really
helps us out a ton and allows us to
continue to make free content. With that
being said, guys, let's hop right into
the charts and see what we can get into.
And if you guys don't remember what we
talked about yesterday, well, go ahead
and watch that video cuz it's very very
important. Of course, we're talking
about trendlines, right?
And
we're starting off with a familiar
chart. We talked about this chart
yesterday, but it just so happens that
this chart is giving us the opportunity
to potentially trade it again next week.
So, let's hop into it. This is plan A.
So, the first trade setup we're talking
about is Meta. And as we know with
downsloping trendlines,
what do they mean? Well, it just
generally means that the stock has been
in a down and consistent downtrend.
Now, attacking this upper trendline,
should it pierce, break above, and
confirm, guys, it certainly favors a
move higher up to, you know, maybe the
next resistance level here on $750,
77744,
and then potentially towards double top
around 800 bucks. But it all starts with
this trend line.
So here is my first setup. All right. If
Meta can push it up, break above this
down-sloping trend line, right, and
confirm,
I like this a lot for a potential long
position.
And
and with this position, you can enter a
couple of ways as with pretty much every
single down-sloping trend line.
Now first off is just on a break. You
see that breakout and you say, "You know
what? I'm going with the momentum. Let's
go long." And I wouldn't blame you for
doing that, right? That's certainly an
option. But another thing that you can
choose to do, let's say this breaks out,
well, if it retraces, you could enter on
a retrace to that down-sloping trend
line looking for a move higher to the
next level.
All right, certainly able to do that.
Next one, plan B, is MRVL.
Now this chart isn't too dissimilar to
the last one I told you as far as setup
is concerned,
but
right, but you have an additional factor
with you.
So before I explain it, I'm going to ask
you to please pause it here,
think about it for a second, see if
you're able to notice the pattern that's
been formed on the chart. For those of
you who are a little newer to this
series, you might not be familiar with
it, but it's something that I just
covered not too long ago, and it is one
of my favorite indicators
available.
I'll give you a second to pause it.
Take a look.
And hopefully,
you're able to recognize this pattern,
which is absolutely so powerful.
So, there is this beautiful obviously
down sloping trend line, which I've
already highlighted on the chart for
you. But, the secondary pattern, which
you know, I'd argue could be even more
powerful, is
an inverse head and shoulders pattern.
Left shoulder, head, right shoulder,
right? This spells a breakout for me.
MRVL is a little bit down from its
highs, right? From its all-time highs,
down about 28% has had a nice push up,
but should the markets begin to catch a
bid, you could potentially see,
you know, this break to the upside, an
explosive move. First thing we'll do is
find that measured move on here using
that inverse head and shoulders pattern
that we covered a couple episodes ago
>> [snorts]
>> and say that, "Hey, if this plays out to
the measured move, you're looking at a
move up almost 50% guys on MRVL."
So, just like with Meta, what's the
plan?
Well, there's a couple of ways that you
can play this chart. First off, you can
play it on a breakout. Let's say we have
a nice breakout and confirmation, you
just go long, right? Just go long, nice
and easy.
Or,
similar to our other setup on Meta,
you can look to enter on a retrace
back down to the down sloping trend
line.
Generally speaking,
we don't really love to trade with the
trend as we're counter trend traders
here at Verified Investing, and you can
argue, "Well, it's already gone up 20%."
You know, isn't this going with the
trend?
Well,
in a way, yes, and in a way, no, right?
It is going with the recent trend, but
it's actually breaking this longer term
trend from this down sloping trend line
creating this inverse head and shoulders
that began in um
June of this year.
So, should this break to the upside, I
really like this for a long setup. And
then the last one,
plenty, is Tesla.
>> [snorts]
>> Now, for Tesla, it's a little bit
different. We're at a very nice and
steady uptrend, right? Really nice and
steady uptrend. So, what does that mean?
Right, where but do you do we go long?
The other ones were long.
Well, in this case, I'm looking
potentially, right?
>> [clears throat and cough]
>> Potentially at a short position.
And
where would I short? Well, what do we
know and what have you heard me say both
yesterday and in today's episode?
Generally with trend lines, I'm waiting
for that trend to break. So, enter a
short position either on a break of this
trend line or on a retrace back to the
trend line looking for a move lower,
right? And for this in this case in
Tesla, I'd look for maybe 10% looking
for a move pulling back to around the
$330
level
on TSLA.
All right.
With that being said, guys, that's all
the setups I have for you today. Those
are three actionable trade setups on
Meta, MRVL, and Tesla. I'm trying to
diversify a little bit, give you two
longs and one short position. If you
like this content, guys, please like the
video and subscribe to the Verified
Investing YouTube channel. Comment down
below what you want me to cover in next
week's episode. I've started going back
and covering some topics that I've
already done, but the trade setups are
fresh, right? And we're always getting
new people.
Um
but anyways, guys, I hope you guys had a
great weekend and enjoy your uh uh enjoy
your Sunday and I'll see you guys next
week on the Trading Playbook.
Hope to see you all there.
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