How I Called the Perfect Weekend Trade: Key Takeaways
- Penny stock patterns repeat — learn this low-stress pattern now!
- I called out this pattern and potential trade days before it happened. Learn how you can get my next alert…
- Don’t miss this! Read to the end for a FREE video lesson…
Find out how you can be a weekend trader with the pattern I’ve used for 20+ years
My goal since I started teaching is to show students how to trade sketchy penny stocks safely. No, money doesn’t fall from the sky — and you must stay conservative with rules and patterns. Read on to learn more and see how I called a perfect trade last week…
How I Called a Perfect Weekend Trade
I’m not trading much lately, and I’m trading EXTRA safe. I’m staying conservative and taking smaller positions. The week before the holiday, I made roughly $2,300 — probably the least I’ve traded in a year.
But trading isn’t about quantity — it’s about quality. Look for setups so good you can’t ignore them. Check this out…
Asia Broadband, Inc. (OTCPK: AABB) had all the indicators for a solid weekend setup…
- Upcoming news
- A potential buy the rumor, sell the news setup
- Crypto connection
- Former supernova
- Multi-day & multi-month breakout
Before I traded it, I called it out in a video lesson for Weekend Trader subscribers.
If you’re not a Weekend Trader subscriber — sign up to get my trade alerts here!
I thought it had more room to run in anticipation of their exchange launch…
On December 8, the company announced its crypto exchange would launch on December 28. That gave traders plenty of time to drive up the price in anticipation of the launch. (More on that in a bit.)
And after a few big green days, the stock was closing in on a multi-month breakout level. That got my attention…
Details From My Perfect Weekend Trade
On Thursday, December 23, before the long holiday weekend, AABB consolidated all day. Then it spiked in the afternoon and had an intraday breakout. I bought 52,000 shares at $0.2748.
It continued to spike into the close and broke out to new multi-day and multi-month highs. That’s exactly the kind of price action I look for in an overnight trade…
But before the close, it met my trade goals. And since bitcoin (BTC) and crypto trade 24/7, and the stock’s news had a crypto connection, I wanted to take some risk off the table.
I sold 32,000 shares before the close at $0.292 and held 20,000 shares over the weekend.
On Monday morning, the stock gapped up, and I sold the rest of my position at $0.305, locking in $1,086. It was a nice and easy over-the-weekend trade. And again, I was overly safe taking off part of my position before the close on Thursday.
See my full trade details and commentary here.
But that wasn’t the end of my AABB trades…
What Happened Next?
After I was out of my trade on Monday morning, I warned traders all morning that AABB could have a morning panic.
I said 32 cents was probably the top — I was off by a penny. The stock topped out at just over 33 cents before it panicked. How did I call the top? I understand where we are in the pattern…
- It was the fifth green day of the run (as opposed to the first green day).
- The exchange was launching the next day.
- The news was already priced in.
But the stock didn’t have a big panic right away. I even said in a video lesson for Challenge students that the bigger panic would likely happen after the company launched the exchange.
Remember how I just mentioned that traders had plenty of time to drive up the price in anticipation of the launch? We can now see that it was a perfect ‘buy the rumor, sell the news’ play.
I had some winning and losing dip buy trades — see them all here.
But I wish I shorted AABB when I called the top. I opened a new account to be ready for these opportunities. I’m SO happy to finally be working with a quality broker — learn more and claim our special offers for YOU here.
Lessons From Nailing the Perfect Setup
With AABB, I was on the right track with the entire pattern. I’ve seen it so many times before. And I laid it all out in video lessons for Challenge students and Weekend Trader subscribers.
This is the value of a quality trading education and why you MUST study the past.
My weekend pattern is on fire lately. I’ve traded this pattern since college — that’s 20+ years. I think it’s great for part-time traders and those under the PDT. And it’s a low-stress setup.
Focus on penny stock repeatable patterns and capitalize on the BEST trades.
Watch this FREE video lesson for more examples of repeating penny stock patterns. Take notes! Trading Challenge students get these lessons two to three times per week…
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Learn how to take advantage of supernovas like AABB in my Trading Challenge. It’s where all my 20+ millionaire students came from.
That’s because Challenge students get access to my top trading education resources — video lessons, DVDs, live trading webinars, and my chat room. If you’re dedicated to learning the patterns and nuances of trading — apply for my Trading Challenge today!
Did you watch the FREE video lesson? What did you learn? Let me know in the comments … I love hearing from you!
The post How I Called — and Safely Nailed — the Perfect Weekend Trade appeared first on Timothy Sykes.
Original source: https://www.timothysykes.com/blog/the-perfect-weekend-trade/