Avoid this market trap 🪤

Don’t take the bait on this one…                                                                                                                                                                                                                                                                                                                                                                                                                 August 28, 2023 | [Read Online]( 🔥 Ready to turbocharge your trading game? Join me on Thurs, Aug. 31st at 1PM EST for [GAMMA: The AI Trading Wealth Revolution](. Don't miss your chance to witness the future of trading and secure a spot for a special $300 gift – [RSVP HERE!]( Happy Monday everyone! Just when the market seems down and out, it comes roaring back to life. At least, that’s what happened last week. After that Thursday sell-off, we had a massive bear trap on Friday. Market makers love to play games, hit stops and free up liquidity…and I’m sure lots of traders got (trapped) hammered in the process. Tech looks set to climb in the very short-term, but the charts are a bit too sloppy and choppy for me personally. I definitely see SPY and QQQ moving back up to their 50-day moving averages (that thick red line), but whether they can cross and hold will determine if I have a bullish or bearish outlook for the future. My gut feeling is that after the brutal down days we have seen recently, the market will stage an attempt to rally but it will ultimately trend lower again – so watch out for that trap! That being said, for this week’s [Bullseye Trade]( idea I’m looking at a stock in a completely different sector (not a tech stock, shockingly!). A strong, but “boring” stock that not only blew out earnings but barely dipped before it kept moving up. (Don’t you wish you knew what it was?) 🤔 I’ll let you know how it goes later in the week. ✏️Numbers I Need: My full trading game plan went out to [Bullseye subscribers]( this morning. (Why aren’t you on this list with us?) This week looks choppy, and we have some extremely important economic data coming out on Thursday and Friday. If you’ve been paying attention, you know just how important jobs and inflation data have been. Most institutional investors are likely sitting on the sidelines until that data drops, and this makes for choppy, volatile markets. We may have some big swings, but I don’t think the indices are really going anywhere until the end of the week. I can’t predict what’s going to happen, so I’m not making any big bets right now. I’m just going to play the charts and stick to my plan. ⚡Most Exciting Action: Remember, [Bullseye]( subscribers got my single best trade idea for the week – this morning before the market opened (yes, it is green today…) I said last week that we’d discuss moving averages. They’re critical for determining trends, and I use them alongside my Keltner channels for levels of major support and resistance. The two most common types of moving averages are the simple (SMA) and the exponential (EMA). The major difference between the two is that the EMA gives more weight to recent. Both work well, but I prefer the SMA. Earlier, I mentioned the 50-day SMA for SPY and QQQ. This is a key level of institutional support. Unless you’re an investor or long-duration trader, anything under the 50-day is bearish. It’s important to match the duration of your trade to the proper moving average. For example, I just opened a new short-term trade on NVDA based on how it is respecting the 5 & 13 hourly moving averages. This doesn’t mean I am looking to hold this trade for weeks. When I am trading off of the hourly chart (which I almost always do), it means I am looking for a “swing trade” that I plan to be in for a matter of days. If you don’t know, then put several on your chart and see which one price is respecting. Look at the circled part of this QQQ chart and see how it was skipping off the blue 8-day EMA. Bullish trades that were entered on a touch of the 8-day SMA would have paid handsomely. And you can notice that this trend held up for weeks, because we are looking at the daily moving averages. ✅ Past Alert Update: I hope this week’s [Bullseye idea]( is a repeat of last week. Not every trade is going to be a winner, but when my thesis works out, I see visions of 💲dollar signs💲flying around the room. I already told you what happened with the QQQ long calls from the trade plan I sent to subscribers. That trade I placed on Monday paid off big time. An overnight 69% gain that turned my $3650 investment into over $6100 (*trading is hard, result not guaranteed). * actual entry from my trading journal And here was my actual email to members last week: ***Did you notice the bottom where I added a bonus call spread? ⤴️ That bonus could have made me 100% with the move on QQQ if I’d decided to take that trade. The run-up on tech last week after I saw the Gamma Trigger set-up was just spectacular. Remember, call debit spreads are just another way of playing bullishly… So what are the pros and cons of the call debit spread? On the positive side, it’s a less expensive way to trade a high-priced ticker. The position is less sensitive to volatility, and your downside is lower. The trade-offs are that because you’ve purchased an OTM call, your upside is capped, and it takes a larger move to turn a profit. So I just have to ask myself, “How conservative do I want to be?” I’ve gotten great feedback, so I’ve decided to include a potential call debit trade possibility each week. I send my ABSOLUTE TOP IDEA each week directly to [Bullseye Trades]( subscribers on Monday. Sign up and get my complete game plan before the market opens. But you’ll get even more… You’ll also have unlimited access to our training library, trading ebook “How to Become an Alpha Hunter,” and alerts on trades I make sent directly to your Raging Bull app. And I’m so convinced you’ll love this service I’m backing it with my [IronClad 30-Day Satisfaction]( promise. [Bullseye Trades]( isn’t just an alert service. It’s a full educational system to hone your trading skills. Everything you need to help you become a BETTER TRADER! Stay tuned for a complete update on how this week’s [Bullseye Trade]( worked out. And tomorrow, we’ll discuss some important candlesticks and what they mean. Just a reminder! If you haven’t been watching VWAP Jedi Kenny Glick, remember he’s trading live every day this week from 10:00-11:00 EST – Complimentary. (☝️Bookmark this link☝️) To your success, Share Bullseye Trades You currently have 0 referrals, only 3 away from receiving a Daily Email Shout Out. [Daily Email Shout Out]( [Click to Share]( Or copy and paste this link to others:  Questions or concerns about our products? Email Support@ragingbull.com © Copyright 2022, RagingBull  DISCLAIMER To more fully understand any Ragingbull.com, LLC ("RagingBull") subscription, website, application or other service ("Services"), please review our full disclaimer located at FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. 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