AB International Group Corp (ABQQ)

[tothe]

ABQQ chart~~~ Bullish continuation setup, a sudden volume surge and lack of sellers is a signal for a ........

* A brief on chart Indicators
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146368673
chart & TA post thread

* A three week side trap, I think all our big sellers are gone so it looks like we own this turkey. Imminent breakout from this continuation pattern with the volume "U" supported by right & left green bars holding up our inverted arch. We are in the consolidation looking for a breakdown candle followed by a reversal candle.
https://thepatternsite.com/rectbots.html
https://school.stockcharts.com/doku.php?id=chart_analysis:chart_patterns:rectangle_continuation
https://stockcharts.com/h-sc/ui?s=abqq&p=D&yr=0&mn=3&dy=10&id=p24986097784&listNum=23&a=1113701411


SIDE TRAP CHART PATTERN
http://www.tradewithme.me/trading-systems-v--swing-trading.html


This is only a summary.
How to Trade It : There are three components to trading this chart pattern:

consolidation
breakdown
reversal
You need a sideways consolidation, then a breakdown causing the chart to look bearish, and finally a reversal pattern. This is why this pattern is called a "side trap". The stock trades sideways and then traps traders who shorted the breakdown.

The Entry You want to establish a position with this stock on the day of the reversal candle. But, you do not want to trade just any reversal candle. You want the candle to be strong one. Make sure it closes at least halfway into the range of the breakdown candle. This will show up as a piercing candlestick pattern or a bullish engulfing candlestick pattern (see the examples above).

Taking Profits Nothing special here. Just trail your stops using your favorite exit strategy. However, when the stock market offers you a gift - take it! If the stock explodes, and goes up 15% in a couple of days, at least take partial profits and trail your stops on the rest.

Keep in mind that you are wanting to see this stock move above that sideways trading pattern (consolidation). That is where the explosiveness will kick in.