In case anyone was looking for a simple trading pattern to use on a +100% stock spike …
Metaplanet Inc. (OTCQX: MTPLF) spiked 260%* already this week. It’s a Japanese company that has ties to Bitcoin consulting.
And in case you hadn’t noticed, Bitcoin is once again bumping against all-time highs as a stablecoin bill works its way through congress.
This stock went full supernova!
And the intraday price action has already followed one of my trading patterns THREE TIMES.
I traded it twice thus far. I missed the third setup. But there’s no use crying over missed trade opportunities, especially when I already banked almost $3k.
Look at my trade notes below:
FYI … MTPLF isn’t the first supernova we’ve seen this year.
We see a few spikes like this every month.
Here are some more examples:
- MLGO spiked 1,100%* to end March.
- JNVR spiked 1,800%* in April.
- AREB spiked 1,300%* in April.
- UPXI spiked 860%* on April 21.
- SBEV spiked 1,200%* in April.
- KIDZ spiked 820%* in May.
Learn how to trade these insane spikes before the next one goes vertical!
Watch my video below:
My Trades On MTPLF
I outlined my first trade, from May 20, in this blog.
And I posted a video lesson with a full breakdown to YouTube:
And the day after my first trade, the stock followed the same pattern again.
Twice!
Look at the MTPLF chart below, every candle represents one trading minute:
I don’t have much more to say …
This is a simple pattern!
Especially when it comes from an OTC stock.
OTC v.s. Listed
The OTC market is a stock exchange for sketchy companies that don’t meet the same listing standards as listed stocks on the NASDAQ or NYSE.
There’s less attention paid to these stocks and less trading volume.
As a result, these stocks can follow my trading patterns more rigidly.
For example, let’s look at MTPLF on the morning of May 21. On the chart below, every candle represents one trading minute:
Notice how the price bumps up against these price levels.
There’s very little arbitrage around the major support and resistance levels.
And we can compare this price action to a stock like NVIDIA Corporation (NASDAQ: NVDA) that trades on a listed exchange.
On the NVDA chart below, from May 21, every candle represents one trading minute:
I used to exclusively trade OTC stocks for this exact reason.
But in the last few years, the OTC market has been illiquid and quiet. MTPLF is the first strong OTC runner that we’ve seen in a long time.
Could this be the return of the OTC momentum?
I’ll believe it when I see it.
In the meantime, I’m looking for more textbook-trade setups from MTPLF.
And you should too!
Cheers
*Past performance does not indicate future results
Leave a reply