Avoid Losses: Two Chart Patterns You Must Ignore! 🚫💰

With examples from yesterday’s failed spikers ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Good Morning! As traders, we focus on chart patterns, chart patterns, chart patterns… But today, instead of focusing on the ones to jump on to make winning trades — I’m flipping the script. I’m highlighting [chart patterns you should steer clear of at all costs](... These charts are warning signs waving frantically in the winds of the market. And sometimes, it's just as crucial to know what to avoid as it is to know what to trade. So I’m arming you with the knowledge you need to know the difference. By the end of this post, you'll know two chart patterns to avoid like the plague… Tonight is the big event you can’t miss — [are you registered]( Sponsored Two Chart Patterns to Ignore I love looking for intraday dip and rips in sketchy stocks. But it’s not enough to just look at the one-day chart to see a stock spiking in premarket and make a plan… I always [look at the long-term chart](. You must align multiple time frames to find the most powerful moves. (That’s why [this is one of my favorite books]( And when you zoom out and look at the long-term chart, there can be warning signs showing you to steer clear of certain stocks — no matter how many [boxes they check](. Here are two examples I saw yesterday… 1. Messy Charts: Proceed with Caution First up, we've got what we call messy charts. These charts are all over the place — up, down, sideways — you name it. Helius Medical Technologies, Inc. (NASDAQ: HSDT) is a good example of a messy chart from yesterday. Every time that stock spikes, it's like clockwork — it fails. That's a clear warning sign that when it gaps up or spikes, chances are it will fail. So even though it has a low float, [had news]( and was a big gainer — it might not be worth your time to focus on. The long-term chart history is flashing danger and it looks messy... HSDT chart: 1-year, daily candle — courtesy of [StocksToTrade.com]( It’s no surprise that yesterday HSDT failed again. Remember to put the odds in your favor when focusing on a number one stock to watch. [[ratio]  ]( 2. Ugly Charts: A Recipe for Disaster Next, let's talk about ugly charts. These are boring charts that have no history of running. Take ARCA biopharma, Inc. (NASDAQ: ABIO) for example ... Despite its 10 million [float size]( it has no history of big runs in the last year. So even though it has a low float and [news]( it’s another stock worth ignoring because the odds aren’t in your favor. I suggested traders wait until [9:45 am or later]( for the stock to prove it could hold its gains and run yesterday. But after that, the stock had two failed high-of-day break attempts and faded back to its lows. [[ratio]  ]( That’s why it’s often not worth your time to focus on stocks with ugly, boring daily charts like ABIO... ABIO chart: 1-year, daily candle — courtesy of [StocksToTrade.com]( So learn to look at a stock’s daily chart before you plan a trade. Focus on stocks that have a history of running and big green daily candles. This shows you it has the potential to spike and can hold its gains. Trading isn't just about jumping on every opportunity; it's about knowing when to hold back. So, keep your eyes peeled for those messy and ugly charts and avoid them. Stay disciplined and focused. Have a great day everyone. See you back here tomorrow. Tim Bohen Lead Trainer, StocksToTrade Sponsored   Hidden “Pathfinder” Strategy Revealed Four elite options traders just teamed up… And are tapping into a powerful, little-known strategy called: The “Pathfinder” Phenomenon That’s helped them spot multiple double- and triple-digit INTRADAY trading moves… At practically every single market open! Want to see how you could take advantage of these “Pathfinder” moves? [Click here for details on the next “Pathfinder” trade!]( *Past performance does not indicate future results.   Sponsored ACCESS NOW: Click to activate these complimentary membership gifts and receive daily market intel. 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