In day trading, you'll hear A LOT about patterns. And it’s true that as a trader, you need to learn to recognize the best patterns. Today, Tim Bohen has three of the best, simple patterns you should look for.
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Let’s start with a pattern I love as a day trader. You’ll spot this one early in the day — it's called the ‘dip and rip.’ So say you're getting ready for the trading day and you see a stock that’s up early, maybe on news.
So here’s why it’s called the dip and rip ... Right before the market opens, it spikes to a new high of the day, then dips hard into the market open. The beauty of this pattern is that you waiting for strength. You wait for it to reclaim the high of the day. It dips down — then rips back up on a high volume.
Learn this pattern. In my opinion, it’s one of the best and most consistent.
So that’s an early-day pattern ... let’s talk about a pattern you’ll see later in the day. In this case, a stock spikes midday, then consolidates at or around the VWAP hold high-of-day set up. That's your entry.
Remember, you want clearly defined entries and exits. Your entry is that new high of day from the morning's level, and your stop is a VWAP fail. Now, you're probably not gonna sell exactly at the top, but you can see a clearly defined risk versus reward.
The last for today can be great for swing trades and momentum trades. It’s called the ‘weak open red to green.’ This is a stock that spiked big the day before. One reason you should run scans every day is to look for those big gainers. You're looking at this the night before … Markets are closed and you can't trade … But you're making your plan for the next day.
So this is a stock that ran big on news and closed near the high of the day. Then the next day, you're looking for this stock to prove itself and show you that it can continue to run. And the key to that is that red open. So the stock opens before, or below, the previous day's close. Then, soon after the open, it goes green on the day.
That shows you that the buyers are showing up for a second day in a row. It gives you clear entries.
Remember KISS: keep it simple, stupid. Simple setups can be easier to spot and learn. So check out the dip and rip, the VWAP hold high-a-day, and the weak open red to green. I think they are the three patterns that can help you find consistency.
#StocksToTrade #DayTrading #Patterns
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
🔴 Subscribe for more free Stock Trading tips: YouTube.com/StocksToTrade
Share this video with a fellow Trader: https://youtu.be/9263j6dTKmA
✅ Links we mention and recommend:
Try StocksToTrade for $7: https://stockstotrade.com/14daytrial/
Get our FREE weekly watchlist here: https://stockstotrade.com/watchlist
Check out the SteadyTrade podcast: https://steadytrade.com
✅ Recommended video: https://youtu.be/Jwqbhh3lBYI
✅ Recommended playlists:
Stock Trading 101: A Day Trader's Guide: https://www.youtube.com/watch?v=G_v3GMkKCjk&list=PLWWz2BSabm3bG64ohfJ-CnnVTjLCWwvei
Advanced Stock Trading Tips: https://www.youtube.com/watch?v=OXLs_-PgMUk&list=PLWWz2BSabm3YCZdk7ocrBXGJaLVXXFUYb
StocksToTrade Software Tips and Tricks: https://www.youtube.com/watch?v=jiTi-chHNyo&list=PLWWz2BSabm3ay_lvQC9JN_1niB78bI7ga
Weekly Trading Recap Videos: https://www.youtube.com/watch?v=_n0XaDt1XFY&list=PLWWz2BSabm3b3-4DcEx98TzNPLAKcq6ES
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Let’s start with a pattern I love as a day trader. You’ll spot this one early in the day — it's called the ‘dip and rip.’ So say you're getting ready for the trading day and you see a stock that’s up early, maybe on news.
So here’s why it’s called the dip and rip ... Right before the market opens, it spikes to a new high of the day, then dips hard into the market open. The beauty of this pattern is that you waiting for strength. You wait for it to reclaim the high of the day. It dips down — then rips back up on a high volume.
Learn this pattern. In my opinion, it’s one of the best and most consistent.
So that’s an early-day pattern ... let’s talk about a pattern you’ll see later in the day. In this case, a stock spikes midday, then consolidates at or around the VWAP hold high-of-day set up. That's your entry.
Remember, you want clearly defined entries and exits. Your entry is that new high of day from the morning's level, and your stop is a VWAP fail. Now, you're probably not gonna sell exactly at the top, but you can see a clearly defined risk versus reward.
The last for today can be great for swing trades and momentum trades. It’s called the ‘weak open red to green.’ This is a stock that spiked big the day before. One reason you should run scans every day is to look for those big gainers. You're looking at this the night before … Markets are closed and you can't trade … But you're making your plan for the next day.
So this is a stock that ran big on news and closed near the high of the day. Then the next day, you're looking for this stock to prove itself and show you that it can continue to run. And the key to that is that red open. So the stock opens before, or below, the previous day's close. Then, soon after the open, it goes green on the day.
That shows you that the buyers are showing up for a second day in a row. It gives you clear entries.
Remember KISS: keep it simple, stupid. Simple setups can be easier to spot and learn. So check out the dip and rip, the VWAP hold high-a-day, and the weak open red to green. I think they are the three patterns that can help you find consistency.
#StocksToTrade #DayTrading #Patterns
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
thanks for sharing the valuable knowledge you have to us newbies who cant afford to sub to expensive trading programs or platforms. your teachings are explained clear with simplicity. you are appreciated, God Bless You
I got 600 shares of SONN on Friday for 0.7954. Stock hit $1.20 after I sold a previous position for around $1.095, but than it plunged to 052! So I started buying 8 times for 0.7954 X 600 average. Closed up .02 after hours. Will it dip and rip at Tuesday's open, or fade back to low 70s or lower, or reclaim Fri. H.O.D. of1.20? What to do, what to do? Sabby Management is second biggest stock holder and many find them shady manipulators. I wonder if they tanked the stock on Friday.
on what chart and time frame do you look for these?
If these worked this goofy thing wouldnt be making videos
I like to let my entry/exit and chart determine my stop.
Thank you for this! Also, thanks for not wasting my time with a ton of extra fluff.
What is the best scanner?
For the dip and rip, why shouldn’t we enter on the initial dip?
Wow, this video explains the patterns with such clarity!! It really helped me understand more. Thanks so much, Tim!
Thanks Tim. Let’s see if I can build a very small account with these patterns. I’ll hit up with the updates on how I do a year from now.
I trade on some certain sites which i can boldly say am an Expert because i know all the tactics needed to generate profits When you a minimum investment of about $1,000 you are to make a profit of about $12,000 guaranteed weekly
I am completely new and just learning not performed any trade yet since I do not know how to use the platform yet. Thanks for explaining the when, how’s and why’s so clear and to the point. Blessings
Thanks for all the information you explain so clear for beginners as me. Blessings!
thank you trim for sharing- you are a great instructor
I enjoy your view on the pre market and the wrap up but I would rather follow on my own chart and invariable I only get to see half the ticker on the screen. Could you either put what stock it is in the detail below the post or move the screen so we can see the whole ticker. Thank you Tim.
Does the drip and rip also work on non low float tickers. Like AMD, NVDA, TSLA, AAPL,…
I’m a millionaire this month next year
Super helpful video. I particularly make use of the vwap hold HoD and the dip n rip
Great Video I am learning alot from you and I am a member of the Steady Trade TEam
THANKS TIM ,I try to follow you as much as possible man , thanks for that info big help its said cant find anyone else to do so , well stay cool Tim keep hunting I love also bud
What platform do you guys use? I'm stuck on etoro and I'm not sure it's that good…
Also where do you find the companies to invert in? There name and tag?
Dip and rip in the am is one of my favorite trades styles along with vwap hold around 2pm to 3pm
Which trading program is this
Thank you Tim
Have you traded any of these set ups?