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 covering is
high next strong levels 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 order 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 profit
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 Gap 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 rth 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