Watch the video extracted from the live session on 15 Aug 2023 below to find out the following:
The very first thing we need to seek on in anticipation of a relief rally.
Is now the time for bargain hunting for investing and position trading?
How to define a “change of character” bar and why is it significant for predicting a technical rally.
How to seek confirmation from the volume for a market reversal.
And a lot more.
Since there is a presence of demand as shown in the support zone, it is essential to get a bullish change of character bar (refer to the characteristics as discussed in the video) before betting on a relief rally.
The bullish vs. bearish setup is 309 to 208 from the screenshot of my stock screener below pointing to a positive market environment. Yet, the increase in market volatility makes it challenging for upside follow-through for the majority of the stocks.
12 “low hanging fruits” (CLH, PWR, etc…) trade entries setup + 24 others (PHM, NVT, etc…) plus 8 “wait and hold” candidates have been discussed during the live session.
Source: https://www.fxstreet.com/news/is-it-time-for-bargain-hunting-to-bet-on-a-relief-rally-video-202308161325