Head and Shoulders Trade Setups on (BTC, JPM, UNH)

This is the trading playbook where the charts do the talking and every session makes you a better trader. Hello everyone, Lton here with Verified Investing back with another episode of the trading playbook. I hope you guys enjoyed yesterday's episode and I hope that you are all having a wonderful Sunday. Uh before I go any further, please like this video and uh subscribe to the Verified Investing YouTube channel. It would really really help us out. And leave a comment down below of what you want me to cover next. Again, everyone types cover this chart or that chart. >> [snorts] >> I'm not looking to take a look at specific charts. Rather, I'm looking at overall themes that will be helpful for your education because it's one thing for me to go through and you give me a chart and I give you, well, this is support and this is resistance, right? But it's another thing for me to go and explain how I find these levels, teach you about different factors that are going to be very important so you can do it by yourself instead of fishing for you, teaching you how to fish, if you will. Uh, but anyways guys, I hope you enjoy this episode and don't forget the million-dollar long-term investor with myself and Gareth Soloway is now available uh to purchase. go ahead and scan this QR code down below if you want to join us as we embark on long-term investing. But with that being said, let's hop back into it and talk about this week's plays. And we're going to start off exactly where we left off last time on the Bitcoin chart, right? And what did I say last time? There's a beautiful inverse head and shoulders pattern, guys. And this is going to be plan A. So, before I do it myself, we're going to do a little quiz. How do you find the measured move of this inverse head and shoulders pattern on Bitcoin? You can pause the video here, try and do it yourself, right? and then I'm going to show you how to do it. Got it? Okay. So, for me, the way to find that is you saw I picked the very bottom, right? This is the top of the head, right? Because it's upside down. You're going to use the bottom. On a head and shoulders pattern, it's the top. But you're going to do the very, very tip of the head to that neckline. And then you're going to drag that trend line to the neckline where we broke the inverse or regular head and shoulders pattern. Right? So the measured move would take us up to around 107.5 basically to this beautiful high pivot from the 10th of November. That is um where it could go. Of course, you're going to find resistance right along the way, closer to $100,000. But for our trade this week, guys, should Bitcoin come back in and retest retest this neckline that it broke up explosively and out of, guys. That's where the long entry will be to buy Bitcoin on a retrace to the neckline of that inverse head and shoulders pattern looking for a move up [snorts] closer to that 98,000 and then potentially above 100 towards that 107 level. Just remember guys, this is super important to know. I'm charting this on the daily chart, which means it could take a couple days to play out. We saw how long, right? We're take a look at this. How long did it take for this pattern to be created? This pattern was created over the course of 241 days since the beginning of the year, right? So, it's not going to play out in three days, but could it play out in 20 30 days? Absolutely. So that's what I'm watching first. Next one here is JPM. Now do you see the pattern head and shoulders pattern because this is going to be plan B. Well, there is a very clear right head and shoulders pattern that has not formed yet but is potentially forming here and that's why I like it so much. Right, you have this nice pattern here. Now, the right shoulder needs to come down, but should it come down this coming week, I think it's a good short. Additionally, we can look historically at how JPM has reacted to head and shoulders patterns by using this one. Right, there was a beautiful head and shoulders pattern here. If we go ahead and take this head to the neckline that's a measured move about 5.6% and you can see that JPM ended up coming down fulfilling that head and shoulders move measured move and even going slightly lower. So we have to do the same with this head and shoulders pattern. Where is the measured move leading to on this head and shoulders pattern potentially on JPM? Now the question, the thing is that it depends on where it ultimately ends up breaking. But let's say it ends up breaking here. Well, that major move could be a move down about 10% 10 and a half%. And you know where that lines up perfectly to this beautiful gap fill from the 3 of June. I always love when my targets also have a level of resistance or support there. So, I know that's generally an area that I got two factors that makes me feel better about the trade. Um, it makes me feel like it could really go there. So the second trade, my second plan, second play is JPM short at the break of the neckline or or on a retrace back to the neckline after it falls. Just like Bitcoin broke out, we're playing the retrace. You can play JPM the same way, on a break or on a retrace. And then finally on UNH, you're looking at a beautiful head and shoulders pattern that did break but is looking to potentially retrace. Okay, potentially retrace, right? You see, boom. left shoulder head, right shoulder fell and now is perking up a little bit, creating an amazing opportunity to potentially short this. One thing we're able to do if we go ahead and take this major move, what was that major move? A move all the way down here. And for me generally if the play has gone you know 40ish% of the measured move I'd consider it done. But because it's only gone down maybe 20 15% of the measured move now as a retracing we could be poised for an additional move lower on United Healthcare Group. So my entry would be a reshort at the uh retrace a full retrace to this neckline. This is plan C and my target on this couple levels of support you'll have to look at. First off, nice pivot low here at 346 and a gap fill from earnings the earnings at April 20th, right at 32356. Two basically earnings plays right here, right? the level it was prior to earnings and the lowest point it got since reporting those incredible earnings that propped it up all the way back in April. So, this is going to be my play on UNH and those are my three plays today, guys. Thank you guys so much for tuning in. Again, my name is Lenhoe here with Verified Investing. Uh guys, please like this video, subscribe to the Verified Investing YouTube channel, and leave a comment down below. I I'm serious, guys. I read each and every single comment. Even if I don't respond to them, I seriously read all of the comments, and it really inspires me to continue to create this content. Um, and also gives me ideas for what we could cover next. And before I go, I just like to take a moment to thank our sponsor, Rumble Wallet. Um, Rumble Wallet is a cryptocurrency wallet. Uh, but it's really simple. Cryptocurrency is kind of complicated and as you guys know I have my own cryptocurrency basics course. Um but Rumble wallet is incredible because you can trade Bitcoin, you can use a US dollarbacked stable coin or even use tether gold which is actually linked to gold and there is an incredible offer right now. Uh you can claim $10 in US dollar stable coin. So basically a free $10 of crypto straight into your wallet. Um, if you sign up and use the promo code verified10, right, you can scan the QR code right here to sign up, but make sure that you use the code verify10 at signup or visit wallet.rumble.com/verified. This is a limit limited time offer, so get your free $10 while you can. But anyways guys, with that being said, that's all I have for you today. Thank you guys so much for tuning in. Thanks for being part of the community and I'll see you guys next week on the trading playbook. Have a great rest of your weekend, guys. Bye-bye. That's the trading playbook. If today's episode was your film study, the principle, the pattern, the framework, the application is waiting for you on Sunday. Real setups, real levels, ready before Monday opens. Subscribe to Verified Investing on YouTube. Saturday teaches, Sunday prepares, show up ready.