We have talked many times about how we like to keep our trading strategies as simple as possible to give my students, regardless of level of skill or experience, the best possible chance at putting on a winning trade. Our trade on watch today is a great example of that.
Some setups or charts make it pretty easy for you to determine which levels you should be paying attention to and as you’ll see in my video breakdown below, this setup would be really hard to miss. Let’s make sure we don’t miss it!
Teladoc (TDOC) is trading within a clear range between $22.50 and $35, which provides clear setups for the swing trader, which is more or less a perfect fit for our strategy. This range gives us the roadmap we need in order to plan our high probability trades. As you can see, the price has respected this channel for quite sometime. This means you should be able to reliably trade these levels with a fairly high level of confidence.
Furthermore, not only can you better make decisions for inside this channel, you can also prepare yourself for the eventual breaking of the upper or lower range of the channel for a break out trade. Keep this stock on your watchlist and set alerts, so you do no miss any new developments in this trend, these are setups you do not see all the time.
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