Feb 8th, 2024 Ultra Wealth = The bear and bull shat pattern

5 Feb 2024 · 83 min
1:22:53

Instructor Jerremy Newsome leads an Ultra Wealth trading session (YouTube webinar) focused on advanced gap analysis and two daily candle gap patterns he calls the "bull shat" and "bear shat" patterns. He defines the bull-shat as two consecutive bullish daily candles where the second opens (and preferably closes) below the open of the prior bullish candle — a gap-down-and-reclaim pattern whose low, if later broken, signals a high-probability short. The bear-shat is the inverse: two consecutive bearish daily candles where the second opens and closes above the prior bear candle's open — a gap-up compression that, if the high is later taken out, signals a bullish entry (and if it fails, resumes the downtrend). The session applies these definitions to tickers (Google, Nvidia, Coinbase, Zillow, Spirit Airlines, MongoDB, Apple, Intel, Qualcomm, ELF, etc.), shows live scanning examples (FinViz), discusses entries/stop rules (stop-sell below second bull candle low for bull-shat; stop-buy above second bear candle high for bear-shat), and assigns homework to scan for these patterns.

Chapters

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