Hey Market Pilots,
I could update you on the status of the market, but it’s going up. I am seeing some building indications of a sharp pullback coming, but the trigger is not here yet. So in that vein, I want to show you a setup that worked for me back on 6/6/19 in MDB, and I am seeing the same structure today in BILI.
As a note for context, video game providers have been doing well during the COVID era because people are looking for activities during the quarantine. I figure BILI also stands to benefit.
In the chart above of MDB, I have annotated the structural points of interest. From a pure price action standpoint, the rebounding of price after an earnings report looked like a sign of strength. Turns out, it was the little clue before a massive explosion. I find it amazing the subtle hints the market can give before a huge move, but you would only know if you have seen them before, like this. MDB also performed one of my best setups: The Moxie Trampoline Move. This is where price dips below the 50 SMA and Moxie is over zero; a very high-pressure setup as you can see.
Now I bring you a chart of BILI and I find the similarities uncanny. I happened to see this as I was going through my normal watchlist near the end of the day, searching for anything of interest. What’s crazy is that when I saw this chart of BILI, I immediately recalled that I had seen and traded something like it before. It took me a second to remember that it was MDB, and then I had to search the chart of MDB to figure out when it was. I was fortunate that it wasn’t too long ago and I found it easily.
I looked more closely at MDB to refresh my memory of the setup and yes, indeed, it looked very similar. So, I rolled the dice on Friday at the close, took a healthy position, and sent the trade alert out to the Moxie Subscribers.
Let me back up a bit here because I want people to know that this trade could have been found with two of the Moxie scans: Daily Moxie Price Trigger, and Hourly Trampoline Setup. This is important because others may not have BILI on their everyday list, and may not have the MDB experience I had, so you could have found this trade with the Moxie Indicator tools I use.
By the time you read this, we will know more about how the trade on BILI is going. Let’s see how I did and if this turns out to be as stellar as MDB was a little over a year ago.
Over and Out,
Your Profit Pilot.