This is a follow up to some Live Market Maps sessions where we projected this weekly Sam chart as part of our lessons on Modified Schiff Median Lines and price action confirmation entry techniques. This Sam chart was posted last year on Stocktwits as we observed an entry idea using a gap swap. In the video I will show you what we were working on before hand.
In our Market Maps sessions we do structured Median Line and market structure lessons and then take those lessons into live markets to practice. In this video I will talk a little about some of those lessons that we took to this live market.
The Main points covered are:
- My entry and exit as well as an alternate entry using the One Line technique from the pervious blog post.
- Some of the dynamics of a Modified Schiff Median Line set
- The Gap Swap entry confirmation
- I will go into the idea of minor and major with gaps and with the Modified Schiff
- Making a plan and being willing to risk.. If your not willing to risk, your not willing gain.I compare this weekly SAM trade to a similar GILD weekly trade.