what's going on guys today I'm talking about a pattern that I've been seeing
happen over and over recently with these small cats with these big runner or
something that you should be looking out for gonna break it down in this video so
I talked about this pattern briefly in my last video on Friday looking here at
HOAs this is a perfect example of the you pattern kind of break out so I'm
going to call them just calling it a u pattern in general you can see here on
HOAs and had the perfect you patter in the morning so in the morning it opens
up this is the 1-minute chart so opens up in the morning jumps up here
pre-market hi was at 249 so from 249 had troubled era 250 250 obviously is going
to be a resistance area it's taller there people get scared on half dollars
whole dollars so resistance was strong there at 250 for a while so hasn't
troubled arrow 250 had a double top double top hesitation on a volume volume
increasing so it wanted to go higher you can see from open had some volume volume
volume increasing there and then on this candle you know not a big move there but
still getting stuck there are 250 so that's a good sign if you were buying it
here as a 245 246 area and they wanted to go higher but they just couldn't get
through that 250 areas have some more trouble and volume decreasing so right
in this area right here the volume decreases and the stock kind of moves
sideways doesn't really do much and then you get this sell-off so from that one
that sell-off starts you basically get this support here at the 240 area this
breaks you get this big candle here that sells off people are all jumping out of
it they're scared that it might crash and you can see what happening is big
spike in volume it sells off you had a low 224 they're pre market and it pulls
down here basically to 226 225 area just a little bit of volume so that's a good
sign consolidating something's going on and then you get these red candles red
candles a little green here right kylo Ren kettle nothing happened it doesn't
move prices the move for a couple minutes and just kind of sits there and
it's like okay this is a good chance that this is going to start reversing as
I start going a higher well when's a good time to buy in well obviously you
don't want to buy here at the bottom because it might just start crashing
again you might get kind of a fake-out like a little bit of push and then they
fake out crash down so really just depends on how strong the sellers are
there and you can see here and then really the strongest area to get in
would be above that 250 so you get this kind of you pattern 246
was the Hyatt heir of four or five tops there at 2:46 couldn't get through there
still not a lot of behind not a lot of selling it's kind of getting stuck there
sells off pulls back and then goes higher and then you can see here
volume increases on this candle it goes higher breaks over this 2:35 area and
that's kind of a good sign okay it's happening and then you can see here on
this candle you get the bottom at 235 so that's 235 was resistance previously
turns into support again double bottom there 235 234 and then we get this push
higher this green candle jumps up here to this previous resistance there 245
there's a little bit of pull back this is when the big move happens you know
starts getting building up support there buyings happening it's a little bit
increased volume volume is increasing through this whole move here you can see
the volume increasing the volume increases the volume increase jumps
appear to fit the area have some trouble but a lot of buying going on there a lot
of buying gets stuck at 250 and then BAM huge spike in volume they're the largest
spike of volume not morning so far jumps up to that 262 area and then right from
there pulls back pretty quickly but you can see that move in general once it
broke over that 250 high it jumps up here to 260 pulls back turns that 250
into support area and then starts to move higher from there and you can see
ding-ding-ding-ding-ding all the way up here to 293 there on H OS so pretty
solid move on the five-minute are you can see clearly here what's going on get
this triple top here as a 250 area it pulls back down the support area get
some support there consolidates get this move higher and then once it broke above
250 it was game on 250 turned into support there you know you had shorts
trying to pile in here they're trying to crashes down hoping that they can crash
it down below 250 250 breaks they're expecting this to move back down into 30
air you know kind of a fake out there but obviously the buying pressure was
strong there you see this bottom of the wick here on this candle even though the
camel is red it's a good sign when the quick is actually longer on the bottom
showing that people are buying in this area so you can see they kind of move
their H OS really showing that you shape perfectly how where to look to get in so
kind of recapping you're looking to get in above this high the 250 area was key
area obviously it's not always gonna be like that some stocks aren't going to be
right there at the half dollar if it wasn't at the half dollar I would have
said get in earlier you know this 246 area would have been a
good entry once it's got above this high here got a double top at 246 246 and
it's like okay game on so that was kind of a good sign one step broke if it's
been like 265 here on this high I would've been like okay
once it broke above this high on this candle it's game on got this nice
consolidation got consolidating there you can see 15 minutes get to sell off
but then BOOM five minutes move up higher here it
wanted to break above there and then on sex scandal huge move there really if
you got in here at the 246 here with the tight stop kind of watching a 240 area
if you got in there looking for that move above 250 there it is get that move
up to 260 area so you could easily grab you know 14 15 cents there on that move
if you wanted to hold a little bit longer see - if 250 turns into support
you had a perfect entry for this move higher because really once that happened
250 turns it to support have a little bit of trouble there but then headed
higher headed higher headed higher up here 293 so really that's kind of a
u-shape is an idea got to keep an eye on this one this is kind of one of the
patterns that I've seen recently really working out well it's all about looking
at the volume you see the volume get a big spike in volume the morning it
starts to pull back but the volume isn't as much so a lot of buying volume it
starts to pull back it's not a lot of selling volume and they're like okay
it's a good sign and then once we get down to the bottom here again not a lot
of volume once it was moving higher volume starts to increase get above this
246 here and you get that move higher there on H OS so really this can be
applied to all types of different stocks kind of look into where that resistance
area is looking for consolidation looking for that buying looking at the
volume so kind of keeping those key things in mind
volume kind of price action where the stocks headed one to see this break
through that 250 resistance again 250 is going to be resistance there the half
dollar and then looking for that move higher there to p'tee turning in to
support there is a good sign people that are buying there at the 250
area trying to get in here knowing the stock house potential has momentum to
move higher and that's kind of how it worked it out perfectly there
you