Transcript
How to Stay In A Trade Longer.
the London low we finally took out this uh strong level after couple more tests and a big vomit we’re obviously lading down we’re parabolic risk of short coveringShort CoveringA rapid upward move caused by short sellers exiting positions. Don't short short covering! These rallies can be explosive and violent. Full entry → is high next strong levelsStrong LevelsProprietary weekly support and resistance levels used to identify areas for "touch and go" trades or reclaims. These levels act like magnets for price. Full entry → 53 let’s see what happens happen just got to break some stuff to go long and at this point you’d be really chasing to be short so to me the only play here is uh let’s wait for evidence of lading up my humble opinion and we may not get it Trends are hard to break if this thing pushed down here under the strong I’d look for it to get back above then I might be interested in something otherwise there is no bottom for a while let’s see what happens here let’s take a peek at everybody else real quick we need Russell to get on the train choo choo enq was the weakest from the very beginning opening vomit opening vomit um Dow actually went up but took out its uh grabbed the liquidity from yesterday’s high so just beautiful still on a parabolic move I don’t recommend longing this but we’ll see what happens one thing about it the levels are sloppy price action is sloppy at every level touch and goes are not existing here I goodness the number of spam calls I get in a day is ridiculous who answers their phone wow wow wow let’s go to a daily here for a second yeah we’re there let me turn off the back adjustment just so I can back adjustment looks way different doesn’t it let’s go to here so those are my next two strong levels go back to one minute chart just so I see it a little better uh too much of a distance to to see the other strong see my goodness the end of the day chart will be fun to do today you got movement so I didn’t post an end of the day chart yesterday but I did a video this morning going over the trades and maybe I should put that on the end of the day chart thing chart Channel certainly in a parabolic move still but boy it is not getting level development to the South that’s the first thing that has to happen for it to turn around no backside development it’s the first thing that has to happen and preferably after liquidity grab or a major like Market profile level we’re pretty much here doesn’t mean it can’t keep going of course 5058 you know it is entirely possible for us to be in the 4900s before the end of the day remember beige book is later this afternoon if you’re going to be trading I’m going to be done about 12:30 my time so 1:30 so 50 minutes I got 50 more minutes I got some errands I got to go run so I won’t be looking at the chart actually after that so I chose to trade a little longer still in a parabolic move wrestling with this break level and you know what the Bears do if they can’t get it done they take their profit and get out all of them running the door at the same time it flies up let’s look at a three minute chart real quick let’s just get an idea of the number of ladders cuz actually that’ll go into my metrics today um you’d have to say one two three 4 five ladders now somewhere in there four to five ladders down 3 to five is typically all you get sometimes you get those outlier days I’ve seen it as many as 12 in a day I think I think it was 12 so we’re knocking on the edge door that’s for sure all right let’s see what you’re going to do at the this next strong level once again the play is shorter flat but we’re about five ladders in I’m not going to be shorting and uh we’re going to see what’s going to happen here off this 53 level e right I’d like to see it push through it and then come back over it it’s what I’d like to see under different circumstances I might have taken that as a limit orderLimit OrderAn order to buy or sell at a specific price or better. You set your price and wait. You might not get filled if price doesn't reach your level. Full entry → long I’m just mentally watching it going and if it bounces it be like great wonderful but I’m not trading it we are in a parabolic move you should not be countering a parabolic move but I would like to see it push several points below it and then maybe come back on top of it okay that’s two points underneath it all right so now that was a decent push underneath there is it going to pop back over this strong level give us an opportunity I do not know the answer that’s just what I’m looking for going to get back up over this 3 level it had its nice push underneath it in my humble opinion all right see if he wants to push it a little bit more let’s go about Five Points underneath that is about what 48 47 somewhere in there I like when they push under a little bit and then pop back up we’ll see what happens what do I and notice it just went back to the strong level and bounced it didn’t pop it right so went six points past actually went long there to be honest counter but small I’m up really nicely so I can afford it so I went for it I’m going to move this to two ticks here hoping it gets over the strong range that strong level and ladders as I said I was looking for it to push under the strong and then come back over um about five six points so I went for it here and uh we’ll let it comes back back and gets me oh well what do I care doesn’t matter come on get up there so like I said I would typically like to take that strong level as a limit order but I wanted uh in this case it to push further through it and give it a chance um because what I typically find and it’s okay if it gets me out so I went long here let’s say price was to continue going down a little bit most likely it’s going to come back and want to tag up with the strong level and give me the gift to break even versus if I went long here it’s harder so by going long deeper into that I felt like it gave me the best odds of having a a gift of Break Even trade all right so here it was it pushed through the strong range those five or six points we’re looking for it to get over the strong level and then hopefully well I don’t know if hopefully is the word but it’s a perfect place for price to bounce down and come back to it and bounce that’s what I’m hoping happens it touches it and bounces um let’s move this I’m going to move it under so 5150 I’ll capture this much of it all right there’s a 10-pointer but I’m not going to capture it I’m going to see if this thing wants to run in fact let me do this actually I’m already on a one minute let’s go to a 30 second chart 5150 you know what I’m up so nice I’m going to go two points behind that to 4950 and I expect it to get me out why do I expect it to get me out well cuz we’re vomiting down the most controlled I’ve ever seen so we’ll see if it comes back to 53 if you were looking to get long certainly not trading advice that might be an interesting level to get there or maybe you took that short that was right there the backside and you’re short and you’re like let’s go get George and I was like you should come get me and let’s go back I’ll lock it at two point hands off the mouse Let It Go I feel really good about my trade location but I’m total counter so I am small I expect to be taken out but I’ll lock in two points it’s okay okay that’s what I wanted to happen now get up there let me remove this line so price can get up there come on come on get up there all right see what happens break this parabolic trend line here let’s stay over this strong stay over that you don’t need to come back come on Slim that up a little bit actually let’s just slide this over a little bit let’s do it like that that way I don’t have to keep juggling it all right let’s go I’m curious did anyone go long back off when it pulled back to the strong level it didn’t quite touch it so you may not have gotten in but that’s actually a good sign for my long that it didn’t touch it come on get up get up could lock in 10 points there but like I said I’m going to try to stay in the move here there we go let’s get up a really low time frame micro time frame got a little something let’s get up and I mean micro M micro Trader that’s funny it’s a micro level come on there we go there we go I think we saw that pretty well now will it keep going I have no clue so if price comes back into here this to me this represents a good place to entertain the idea of a long your mileage may vary your trades are yours because to me we broke the parabolic at least we broke the parabolic what did we also do we got back up over the strong strong level we with fair value gapping candles strength of the move and if you’re newer in the group you should go to my YouTube channel and uh click the videos and click the search and uh search strength of the move strength of the move anybody else long I’m just curious cheer for you too place to be scary place to be long I guess yeah Jared you have to actually remove yourself literally turn off the computer where like okay I got to reboot it sometimes I make myself go to the coffee shop you know what I mean um Jackie I was up really nice on the day and I said I’m going to take a one Ms if it gets five or six points under this strong level so there was no level that honestly got me in it it’s just more of we’re we are five or six ladders down um untested strong level I said I would like to see it get underneath there come back up over it and go on top I want to see it go about five or six points and so I just took a stab at the six points to be honest or whatever it was um I got long at 47 um and here’s the other reason why I did that so by doing it here most likely price is gonna do what go back to the strong level so by going long here if price would have said went back let’s say it would have continued it’s going to be attracted to come back and it would given me high odds of the gift of Break Even versus just taking a long here why this is we’re in yes we’re counter but the trade location can be difficult for a for a gift of Break Even versus being greedier I more than likely would have given myself the gift of Break Even rather easily plus how big was my leverage small small small and I’m up many more times than this contract could possibly cost me so it was small now with the odds of adding to my trade um so now we really need it to bounce here and then if it breaks this oh I will be adding but I’m going to be done in 30 minutes so I’m going to have I’m going to be limited on some stuff yeah to me this this represented a fantastic trade make your own investment decisions if I wasn’t long that would have been my long um had this been a bigger distance from my entry I would have added but now I’ve got a confirmation of this bounce now price has behaved exactly as I said I wanted it to behave to come back and test it makes sense to me makes sense to me and now can it finally break something to the north come on get up there you know if I only had five more minutes of trading or something I would just take my 10p pointer and be done for the day but I I got 30 more minutes so let’s see what happens and now my protection layer is clearly here which would move me to 50 so I’m going to just go two points behind that and I know I’m counter the odds are it’s going to come get me but maybe this is the beginning of the short covering and who knows so I’m okay with it if all I capture is three points that’s fine whatever and here it comes back that would have gotten me out I would not have allowed this trade to go against me so had I got in at that 53 level there that would have gotten me out personally but if you did it with multiple contracts which I would not have done um you could have taken your profit on some and moved your stop behind your entry to survive a double tap but I just know way I’m going to do multiple contracts right there now we can break something to the north I will be looking to add which would be fun how much funner is it to add to Winners than it is to losers and there’s the double tap that’s the one of the advantages of the three contract system excuse me I’ll be right back e all right let’s go let’s go run out the door bears run out it’s hard not to capture 10 points when you’re so counter but I like my trade location so I’m going to stick with it come on let’s get up get up so they took out the parabolic humble opinion so I’m going to remove it and now we want to take out this primary trend line and I think I’m golden there we go you still in Jackie ah I got you out yeah we’re very counter it was the first ladder beautiful beautiful beautiful come on get up there come on my only job now is perfect chess there we go I want to go to a 30 second chart is there anything on a 30 second chart not really really get up there well guys thanks for hanging out a little longer today I knew I wouldn’t going to I was going to run my errand I was like no I’ll do it later so I stayed on Zoom a little longer hoping to be able to participate in some kind of possible short squeeze we’re not getting any separation going to the north yet and if he gets me out at three points who cares now if this was my first trade I’d be a little more aggressive in my take profitTake ProfitYour target—where you take money off the table. Having a plan for profits is just as important as stops. Don't get greedy. Full entry → get up there it gets up over 20 points in the profit I think I’m pretty good let’s go to three minute chart what are we looking at all right give me an eighto candle North come on all right I think a thre minute chart is appropriate at this point well you could lock in your 10p pointer right there which is nice but hopefully it thing pops up we’ve went over the parabolic now we’re seemingly getting over the primary come on there we go Angelic sound here let’s play a little Angelic sound all right there we go nice all right I think at this point I will lock in 10 it’s giving me some good distance here 20 is right here at 67 it’ll probably bounce down lock in my 10 I’m not going to be able to manage this trade all day oh come on you got so close to 20 I’m not going to take the 20 I’ll probably just keep it at 10 and take my laptop with me and then if we can get over this strong range here back into the overnight session heck yeah yellow dots are the overnight I don’t need any of these on my chart all I needed to do is get up there let me uh mark this here real quick in the group come on get up you know one of the things I’m monitoring for well since I’m recording this I guess everybody will hear it uh for the 2024 is on some of the higher time frame stuff um how much heat um you know like how I like to trade backup levels sometimes how much heat from one of these higher time frame levels would be considered like the backup level so maybe I didn’t explain that well but I’ll show youall as I get metrics come on get up there this is one reason I like to count ladders not that it can’t keep going but you know we’re looking at probabilities that’s what we do we trade in probabilities that what pops on my uh price map on my website let’s go let’s go there we go let’s go and I don’t know if price is turning around but we’re pretty good at calling it not predicting it like it needs to do this and this and then okay it turned we’re still in quite a down move I’d love to see it get back within this range um select all of that I’ll slide you over here very nice so at this point I’d probably draw this out we’ve had two candles hard closed this level think I’ll remove it now we got to pop this 68 we get over that I think I’m pretty good quite a few of you guys did awesome today I know Jared did well I know uh Justin did well Justin said he had zero losers I think I’m at 92% I don’t know how maybe one or two of my one ticks actually didn’t get out at one tick it’s fine but it’s fine all right I got about 10 more minutes and I’ll keep my stop there at 10 points I’ll take my laptop with me and if this thing pops up I can bring out my laptop minutes yeah come on get up there big white candle come on there we go there’s 20 points it’s nice all right let’s go very nice all right see if we can get back over that strong range there m me ask can add up come on you know I’m kind of doing the two fair value GapFair Value Gap (FVG)A gap in price where there's an imbalance between buyers and sellers. Think of it as a zone price blew through so fast that it left a "hole" on the chart. Full entry → rule 61 I’m fine with that we’ll see there’s going to be a bouncer it’s a front side you’re hoping there’s a bounce unless you’re long and you’re hoping it rips through it e get up there there we go very nice very nice I think I’ll lock in my 20s since I really can’t manage this very well so I got to be done trading here in a couple I don’t think I’m upset with that come on that was the bounce off the front side now hope hopefully it can just go through there we go come on very nice come on I need you to get over this well I believe we say saw the day very well I know some Traders did very well today as well I’m surprised it took this much back came to the that next strong uh level back tested it perfect long you had to be able to survive a double tap gets me out at 20 points that’ll actually be great I won’t have to think about it but otherwise I’m keeping it on I really don’t have any protection layers um come on get up there wouldn’t be surprised if it came back to 68 and tapped 68 and then continued its Journey but I’m going to keep my stop at 20 hold on one second actually I’m going to delay my departure a little bit here I’m going to move this to 66 that’s fine I’m going stay a little bit longer here cuz man I could be in such a move but you want to hang out a little longer let’s hang out a little longer if you’re done no problem if you’re just studying price action no problem if you’re not trading you’re probably smart so now let’s do this now that I I know I can stay another time here let’s drop down here let’s drop down to 6350 is where I I’m going to be if I’m going to try to play Perfect chess still a 10-pointer I can not be upset about that I think that makes sense to me lower time frame you can adjust this I like to go off Wick and body so that would gotten me out at the 20 which would have been perfectly fine nobody cares but I think that’s an appropriate stop that I have there I really don’t think it’s going to get under 68 but what do I know so right here 68 see what happens get up there that’s all you needed to do now get up it’ll so give me a new break level as well now I’m on a one minute so three minutes I got nothing I mean you got nothing do I have anything on a twom [Music] minute we’ll go one minute come on if it gets under 68 I have a feeling it’s going to come get me I andan it bounced but the bull the Bears are still in control but they seem like they’re getting out of their positions but what do I know if it gets me out here I’m totally cool with that e e all right well that’s 68 area is holding let’s see if we can pop it come on get up there all right come on get up there you gotta love it we’re pretty good at knowing where price bounces and we just play the bounces what do you do well it certainly gives me a break level let’s go to 3 minute chart do I have it on a thre minute chart not really but I’m going to use it um the 6650 which just moves me to 6450 let’s use that back to one minute let’s get up above this strong range I want it to fair value Gap through it I want a strong candle that just obliterates anyone who thinks are going to go short like that game is over Cowboy that’s the type of move I want got here very very nice that was awesome very good very good so I got half hour more 30 more minutes which is actually at the beginning a beige book which could have a reaction itself who knows maybe that catapults this thing to new highs new High new high all right very nice very nice just have a visual representation my stop is here there we go almost 30 pointer take it Come On Pop 30 so I can just screenshot it come on it’s good enough copy this back to here I almost added it 68 but that was not a clear clean crisp type of level so I didn’t but it was a far enough distance from my entry that I could have easily absorbed it now what would be ideal is us to get over the current rthRTH (Regular Trading Hours)9:30 AM to 4:00 PM Eastern Time. This is when the big money is active. Higher volume, tighter spreads, more reliable price action. Full entry → halfback where’s the current R rth halfback right here so that would get us back into the green range back up over this strong range let’s go get up there all right is bumping its head against the overnight low and if it comes back and gets me oh well but it looks like the dominoes are falling my direction let’s go get up there at least this time I know I recorded the trade versus the 80 pointer that we did this week so this is cool come on this is a big area this is like the bull bear line that’s what this would be here here 30 minutes for a second pull this in let’s bring you back over here here go one minute there we go that is it right there between overnight low and half halfback that is the bull bear zone now who’s going to win above it the [Music] Bulls should I be trading probably not but I’m in this trade so I got to manage it trying to play Perfect chess let levels bounce for me you know the good thing about using a break level if you’re getting backside development you actually have three protection layers backside front side brick and then this is a perfect place for price to come back in and vomit I mean this is it right here against the strong range against the overnight low this is it if it comes back in I wouldn’t be shocked to go oh well wait for the next high probability trade for me that’ll be tomorrow get up there really got into can see get up there all right come on all you can do here is play chess you just wait what are you going to do boys yeah kind to look to see if I could lock 20 and still have good protection but that’s all right the best protection is price getting above that bull here we go all right let’s get up there come on well this is almost giving me a new break level which would move me to 6875 move me to here which would be 20 so I might as well use that as my protection layer and move move me a little further behind it locking in 20 that’s nice I’ll take it so we are now somewhere in here I know I’m on a one minute I don’t think I have anything on a thre minute yeah you still don’t have anything on a thre minute and it’s had a perfect place for price to turn around as we said all you can do is play chess come on Fair Value Gap candle over that for come on let’s go take a peek at everybody else that’s looking good man in’s got a long ways to go all right is it g to come get me perfect place for Bears to turn it around saying okay you thought you were getting back into our into the range nah I mean go to probably an hourly chart or a 4H hour chart I mean this is just such a beautiful place for price to turn around all right this protection layer needs to do its job or I’m out all right it is what it is if it gets you it gets you would be a 20p pointer and that’ll be okay go ahead and screenshot this in case it gets me I can put it on our leaderboard it’s not looking good is it technically I got a front side right there and so close to a 30 poter but now it broke that trend line right have things changed maybe honestly needs to get under 66 I think to say things have changed to me we’re still in this recovery mode of price going up but what do I know go come on now rip through the strong range above us take this out with a Vengeance the Bulls haven’t been able to put anything together in my opinion lately but surely some bigger guys got long down here what do I know we’ll see come on get up there yeah that’s where my stop needs to be I’m literally right there uh oh it bounced off the front side that sends price down so it’s respecting levels now that push price down almost out almost and that’s it awesome all right great trade all right dudes I’m out of here uh thanks so much for being a member and I’ll check in with you later have a great day somebody real quick
