{"id":50010,"date":"2020-07-23T14:24:54","date_gmt":"2020-07-23T18:24:54","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=50010"},"modified":"2020-07-23T14:24:54","modified_gmt":"2020-07-23T18:24:54","slug":"how-to-use-reading-the-tape-to-make-a-simple-and-profitable-large-cap-stock-trade","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/how-to-use-reading-the-tape-to-make-a-simple-and-profitable-large-cap-stock-trade","title":{"rendered":"How to Use Reading the Tape to Make a Simple and Profitable Large Cap Stock Trade"},"content":{"rendered":"

In this video, learn how to use Reading the Tape to make a simple and profitable large cap stock trade. Two firm traders do a fantastic job breaking down a trade in Pfizer, where they spotted important information from Reading the Tape. Let\u2019s get to work on sharing these important trading lessons so you can grow your trading account.<\/p>\nView Video Transcript<\/strong><\/span>

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in this video learn how to use reading<\/div>\n<\/div>\n<\/div>\n
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the tape to make a simple<\/div>\n<\/div>\n<\/div>\n
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and profitable large cap stock trade hi<\/div>\n<\/div>\n<\/div>\n
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i’m mike bella fury co-founder of smb<\/div>\n<\/div>\n<\/div>\n
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capital and we’re a proprietary trading<\/div>\n<\/div>\n<\/div>\n
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firm<\/div>\n<\/div>\n<\/div>\n
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located in midtown manhattan and i’m<\/div>\n<\/div>\n<\/div>\n
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also the author of the trading classic<\/div>\n<\/div>\n<\/div>\n
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one good trade<\/div>\n<\/div>\n<\/div>\n
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and the playbook click our subscribe<\/div>\n<\/div>\n<\/div>\n
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button so you don’t miss any of the<\/div>\n<\/div>\n<\/div>\n
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videos they’re producing for you<\/div>\n<\/div>\n<\/div>\n
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in the trading community in this video<\/div>\n<\/div>\n<\/div>\n
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two firm traders do a fantastic job<\/div>\n<\/div>\n<\/div>\n
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breaking down a trade advisor where they<\/div>\n<\/div>\n<\/div>\n
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spotted important information<\/div>\n<\/div>\n<\/div>\n
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from reading the tape let’s get to work<\/div>\n<\/div>\n<\/div>\n
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on sharing these important trading<\/div>\n<\/div>\n<\/div>\n
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lessons<\/div>\n<\/div>\n<\/div>\n
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so you can grow your trading account<\/div>\n<\/div>\n<\/div>\n
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this trade we’re going to be showing is<\/div>\n<\/div>\n<\/div>\n
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for pfizer<\/div>\n<\/div>\n<\/div>\n
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the real reason we were looking at this<\/div>\n<\/div>\n<\/div>\n
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why it was in play today was because it<\/div>\n<\/div>\n<\/div>\n
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gapped up off<\/div>\n<\/div>\n<\/div>\n
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news that the government would be buying<\/div>\n<\/div>\n<\/div>\n
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600 million um vaccines<\/div>\n<\/div>\n<\/div>\n
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from pfizer for covid so naturally this<\/div>\n<\/div>\n<\/div>\n
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gives it a lot of extra attention volume<\/div>\n<\/div>\n<\/div>\n
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and range which makes this um<\/div>\n<\/div>\n<\/div>\n
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a really good trading vehicle off the<\/div>\n<\/div>\n<\/div>\n
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open and also<\/div>\n<\/div>\n<\/div>\n
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on monday we had very similar news in<\/div>\n<\/div>\n<\/div>\n
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pfe<\/div>\n<\/div>\n<\/div>\n
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that they had secured or secured a<\/div>\n<\/div>\n<\/div>\n
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contract with the<\/div>\n<\/div>\n<\/div>\n
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uk government for something like 30<\/div>\n<\/div>\n<\/div>\n
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million<\/div>\n<\/div>\n<\/div>\n
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doses of their vaccine and we saw the<\/div>\n<\/div>\n<\/div>\n
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same action of gapping up in the<\/div>\n<\/div>\n<\/div>\n
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pre-market<\/div>\n<\/div>\n<\/div>\n
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and then being quite weak off the open<\/div>\n<\/div>\n<\/div>\n
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so keeping that in mind contextually<\/div>\n<\/div>\n<\/div>\n
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that might be a trend with this stock<\/div>\n<\/div>\n<\/div>\n
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yeah we can see we open up below this<\/div>\n<\/div>\n<\/div>\n
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pre-market range<\/div>\n<\/div>\n<\/div>\n
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that it was holding so we’re thinking<\/div>\n<\/div>\n<\/div>\n
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some weakness here<\/div>\n<\/div>\n<\/div>\n
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so we’re gonna get our first somewhat of<\/div>\n<\/div>\n<\/div>\n
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a consolidation or buyers<\/div>\n<\/div>\n<\/div>\n
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stepping in um so you’ll see we’re<\/div>\n<\/div>\n<\/div>\n
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holding this like 3811<\/div>\n<\/div>\n<\/div>\n
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well not really breaking down and we<\/div>\n<\/div>\n<\/div>\n
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probably should have come<\/div>\n<\/div>\n<\/div>\n
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down through this level because we<\/div>\n<\/div>\n<\/div>\n
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tested it on that opening candle<\/div>\n<\/div>\n<\/div>\n
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if it was going to be really weak<\/div>\n<\/div>\n<\/div>\n
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especially<\/div>\n<\/div>\n<\/div>\n
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with respect to the size of the gap the<\/div>\n<\/div>\n<\/div>\n
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fact that it’s holding up is not<\/div>\n<\/div>\n<\/div>\n
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you know overwhelmingly bearish at all<\/div>\n<\/div>\n<\/div>\n
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even though it is below opening print<\/div>\n<\/div>\n<\/div>\n
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cnc there we just bounced off 3811 all<\/div>\n<\/div>\n<\/div>\n
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the way to 3816<\/div>\n<\/div>\n<\/div>\n
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with a large size on the bid at 3816.<\/div>\n<\/div>\n<\/div>\n
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so that’s pretty significant definitely<\/div>\n<\/div>\n<\/div>\n
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shows there’s someone there trying to<\/div>\n<\/div>\n<\/div>\n
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buy or at least hold it up<\/div>\n<\/div>\n<\/div>\n
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so come back down to this 3810 level and<\/div>\n<\/div>\n<\/div>\n
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don’t don’t break it again<\/div>\n<\/div>\n<\/div>\n
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so thinking<\/div>\n<\/div>\n<\/div>\n
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still open to either side of the trade<\/div>\n<\/div>\n<\/div>\n
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but definitely know that this is an area<\/div>\n<\/div>\n<\/div>\n
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of contention now<\/div>\n<\/div>\n<\/div>\n
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and that there’s buyers and sellers on<\/div>\n<\/div>\n<\/div>\n
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both sides so just seeing<\/div>\n<\/div>\n<\/div>\n
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where it reacts and see kind of which<\/div>\n<\/div>\n<\/div>\n
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way we get a range break if at all<\/div>\n<\/div>\n<\/div>\n
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so this is important here we see we’re<\/div>\n<\/div>\n<\/div>\n
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testing under this 3810<\/div>\n<\/div>\n<\/div>\n
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so if it were really weak it would have<\/div>\n<\/div>\n<\/div>\n
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stayed under 3810 there<\/div>\n<\/div>\n<\/div>\n
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but instead it comes right back over<\/div>\n<\/div>\n<\/div>\n
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again people buying it up<\/div>\n<\/div>\n<\/div>\n
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so definitely not trying to start a<\/div>\n<\/div>\n<\/div>\n
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short position here<\/div>\n<\/div>\n<\/div>\n
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because kind of tough entry to hit that<\/div>\n<\/div>\n<\/div>\n
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breakdown which<\/div>\n<\/div>\n<\/div>\n
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already looks like it failed so and no<\/div>\n<\/div>\n<\/div>\n
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clear<\/div>\n<\/div>\n<\/div>\n
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resistance level from above to easily<\/div>\n<\/div>\n<\/div>\n
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play off of<\/div>\n<\/div>\n<\/div>\n
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and you see here we push above 20s with<\/div>\n<\/div>\n<\/div>\n
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relative ease<\/div>\n<\/div>\n<\/div>\n
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so then the top of the range from the<\/div>\n<\/div>\n<\/div>\n
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morning open was pretty much like 38 40<\/div>\n<\/div>\n<\/div>\n
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38 42 so we’re gonna see how it reacts<\/div>\n<\/div>\n<\/div>\n
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into that level if we can even get up<\/div>\n<\/div>\n<\/div>\n
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there to the top of the opening range<\/div>\n<\/div>\n<\/div>\n
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since<\/div>\n<\/div>\n<\/div>\n
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we have some buyers coming in and we see<\/div>\n<\/div>\n<\/div>\n
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3830 had some size on the offer<\/div>\n<\/div>\n<\/div>\n
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and it just gets taken out so that’s a<\/div>\n<\/div>\n<\/div>\n
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really good sign this is still moving to<\/div>\n<\/div>\n<\/div>\n
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the upside your<\/div>\n<\/div>\n<\/div>\n
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bids are stepping up<\/div>\n<\/div>\n<\/div>\n
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and moving quicker to the upside than<\/div>\n<\/div>\n<\/div>\n
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we’ve really seen the stock move<\/div>\n<\/div>\n<\/div>\n
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directionally all day<\/div>\n<\/div>\n<\/div>\n
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yeah this is i mean the biggest move in<\/div>\n<\/div>\n<\/div>\n
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a minute candle so far so definitely<\/div>\n<\/div>\n<\/div>\n
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shows confirmed volume to the upside<\/div>\n<\/div>\n<\/div>\n
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but we do see some big size coming up on<\/div>\n<\/div>\n<\/div>\n
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the offer flashing<\/div>\n<\/div>\n<\/div>\n
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yeah so now we’re watching how it reacts<\/div>\n<\/div>\n<\/div>\n
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at the top of this<\/div>\n<\/div>\n<\/div>\n
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this pre-market morning range or<\/div>\n<\/div>\n<\/div>\n
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sorry opening range not the so we saw<\/div>\n<\/div>\n<\/div>\n
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that 38<\/div>\n<\/div>\n<\/div>\n
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like 40 42 started to hold with some<\/div>\n<\/div>\n<\/div>\n
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size on the offer<\/div>\n<\/div>\n<\/div>\n
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so if this is really bullish we probably<\/div>\n<\/div>\n<\/div>\n
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would want to<\/div>\n<\/div>\n<\/div>\n
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hold in these 30s and break up through<\/div>\n<\/div>\n<\/div>\n
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that level that was clearly<\/div>\n<\/div>\n<\/div>\n
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a resistance in the 40s<\/div>\n<\/div>\n<\/div>\n
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so what we’re kind of looking for here<\/div>\n<\/div>\n<\/div>\n
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what we’re going to be showing on the<\/div>\n<\/div>\n<\/div>\n
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tape is there’s<\/div>\n<\/div>\n<\/div>\n
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a very large and consistently held offer<\/div>\n<\/div>\n<\/div>\n
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at that 38 42<\/div>\n<\/div>\n<\/div>\n
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43 and over these next couple minutes<\/div>\n<\/div>\n<\/div>\n
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we’re gonna kind of consolidate up here<\/div>\n<\/div>\n<\/div>\n
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and keep failing to get over that level<\/div>\n<\/div>\n<\/div>\n
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so here we go if you want to learn<\/div>\n<\/div>\n<\/div>\n
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three real world setups that our traders<\/div>\n<\/div>\n<\/div>\n
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use<\/div>\n<\/div>\n<\/div>\n
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including the simple setup that we teach<\/div>\n<\/div>\n<\/div>\n
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all of our new traders and the setup<\/div>\n<\/div>\n<\/div>\n
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that turned one of our traders into a<\/div>\n<\/div>\n<\/div>\n
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seven figure big money earner check out<\/div>\n<\/div>\n<\/div>\n
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the free webinar that we’re currently<\/div>\n<\/div>\n<\/div>\n
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running<\/div>\n<\/div>\n<\/div>\n
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just go ahead and click the link that<\/div>\n<\/div>\n<\/div>\n
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should be appearing right now at the top<\/div>\n<\/div>\n<\/div>\n
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right hand corner of your screen<\/div>\n<\/div>\n<\/div>\n
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that’s gonna open up this free<\/div>\n<\/div>\n<\/div>\n
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registration page in the new window<\/div>\n<\/div>\n<\/div>\n
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so don’t worry you’re not gonna lose<\/div>\n<\/div>\n<\/div>\n
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this video you’re going to learn more<\/div>\n<\/div>\n<\/div>\n
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in a couple of hours from this trading<\/div>\n<\/div>\n<\/div>\n
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workshop than from years of online<\/div>\n<\/div>\n<\/div>\n
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education<\/div>\n<\/div>\n<\/div>\n
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yeah again still just chopping around in<\/div>\n<\/div>\n<\/div>\n
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this range all morning pfp’s been<\/div>\n<\/div>\n<\/div>\n
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rather indecisive a lot of volume<\/div>\n<\/div>\n<\/div>\n
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everywhere<\/div>\n<\/div>\n<\/div>\n
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yeah so right now we’re just kind of<\/div>\n<\/div>\n<\/div>\n
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watching this with the information that<\/div>\n<\/div>\n<\/div>\n
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there were<\/div>\n<\/div>\n<\/div>\n
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buyers at that 3810 but still<\/div>\n<\/div>\n<\/div>\n
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um want to see how it reacts in the<\/div>\n<\/div>\n<\/div>\n
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3840s so you can still see the montage<\/div>\n<\/div>\n<\/div>\n
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right now on the bottom left and<\/div>\n<\/div>\n<\/div>\n
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that 38 45 44 is really holding<\/div>\n<\/div>\n<\/div>\n
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it just keeps refreshing at 3844<\/div>\n<\/div>\n<\/div>\n
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every time not getting over that level<\/div>\n<\/div>\n<\/div>\n
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so<\/div>\n<\/div>\n<\/div>\n
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definitely thinking there’s a seller<\/div>\n<\/div>\n<\/div>\n
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here a major seller<\/div>\n<\/div>\n<\/div>\n
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and now there we saw 55s on the offer<\/div>\n<\/div>\n<\/div>\n
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so when you see such a consistently held<\/div>\n<\/div>\n<\/div>\n
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level like that to the penny<\/div>\n<\/div>\n<\/div>\n
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that’s a really good indicator there’s<\/div>\n<\/div>\n<\/div>\n
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someone there with actual size<\/div>\n<\/div>\n<\/div>\n
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either accumulating or shorting or in<\/div>\n<\/div>\n<\/div>\n
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this case<\/div>\n<\/div>\n<\/div>\n
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shorting um so<\/div>\n<\/div>\n<\/div>\n
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if it gets above that 44 level there’s<\/div>\n<\/div>\n<\/div>\n
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really probably room for this to<\/div>\n<\/div>\n<\/div>\n
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explode to the upside and then if this<\/div>\n<\/div>\n<\/div>\n
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level keeps holding the descent then<\/div>\n<\/div>\n<\/div>\n
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definitely probably<\/div>\n<\/div>\n<\/div>\n
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room to at least the bottom of the range<\/div>\n<\/div>\n<\/div>\n
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again near 3810<\/div>\n<\/div>\n<\/div>\n
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exactly and this is where you can start<\/div>\n<\/div>\n<\/div>\n
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to be looking for<\/div>\n<\/div>\n<\/div>\n
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short opportunities with really tight<\/div>\n<\/div>\n<\/div>\n
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risk just playing off this really big<\/div>\n<\/div>\n<\/div>\n
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wall of sellers at 45 and 44 cents<\/div>\n<\/div>\n<\/div>\n
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yeah this is a trade i often see traders<\/div>\n<\/div>\n<\/div>\n
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take on the desk where they see this<\/div>\n<\/div>\n<\/div>\n
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really<\/div>\n<\/div>\n<\/div>\n
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large held level and i’ll just try and<\/div>\n<\/div>\n<\/div>\n
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play<\/div>\n<\/div>\n<\/div>\n
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right in front of it and buy like 42s<\/div>\n<\/div>\n<\/div>\n
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43s<\/div>\n<\/div>\n<\/div>\n
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and something like that and just risk<\/div>\n<\/div>\n<\/div>\n
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the scent and if that huge<\/div>\n<\/div>\n<\/div>\n
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offer decrements then you get out um<\/div>\n<\/div>\n<\/div>\n
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and something that’s nice about this<\/div>\n<\/div>\n<\/div>\n
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stock the way it’s trading is we’re just<\/div>\n<\/div>\n<\/div>\n
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seeing it being<\/div>\n<\/div>\n<\/div>\n
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so liquid at all price levels so often<\/div>\n<\/div>\n<\/div>\n
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times with that kind of strategy you<\/div>\n<\/div>\n<\/div>\n
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could worry that when 3845 lifts you’ll<\/div>\n<\/div>\n<\/div>\n
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get swept<\/div>\n<\/div>\n<\/div>\n
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fairly aggressively but you shouldn’t<\/div>\n<\/div>\n<\/div>\n
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really be too worried about that in this<\/div>\n<\/div>\n<\/div>\n
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name<\/div>\n<\/div>\n<\/div>\n
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another thing we’re looking at is the<\/div>\n<\/div>\n<\/div>\n
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volume in these up moves was pretty<\/div>\n<\/div>\n<\/div>\n
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light<\/div>\n<\/div>\n<\/div>\n
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into that 3844 um<\/div>\n<\/div>\n<\/div>\n
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compared to the the prior up move and<\/div>\n<\/div>\n<\/div>\n
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now we’re getting some actual volume<\/div>\n<\/div>\n<\/div>\n
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coming in<\/div>\n<\/div>\n<\/div>\n
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on the selling candle so<\/div>\n<\/div>\n<\/div>\n
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really looks like that 38 44 held and<\/div>\n<\/div>\n<\/div>\n
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sellers<\/div>\n<\/div>\n<\/div>\n
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could be taking control um so that would<\/div>\n<\/div>\n<\/div>\n
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be<\/div>\n<\/div>\n<\/div>\n
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that would have been a really good place<\/div>\n<\/div>\n<\/div>\n
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to start a position i get<\/div>\n<\/div>\n<\/div>\n
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short with like 42 43 cents<\/div>\n<\/div>\n<\/div>\n
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risking just right against that 44 45<\/div>\n<\/div>\n<\/div>\n
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and then you just look kind of for this<\/div>\n<\/div>\n<\/div>\n
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move to the back of the or the bottom of<\/div>\n<\/div>\n<\/div>\n
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the range for<\/div>\n<\/div>\n<\/div>\n
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20 30 40 cents when you’re only risking<\/div>\n<\/div>\n<\/div>\n
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two three<\/div>\n<\/div>\n<\/div>\n
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four with slippage it’s a really strong<\/div>\n<\/div>\n<\/div>\n
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risk to reward play when you can notice<\/div>\n<\/div>\n<\/div>\n
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these<\/div>\n<\/div>\n<\/div>\n
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really strong held levels and again just<\/div>\n<\/div>\n<\/div>\n
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at all these levels 43 44 45 just so<\/div>\n<\/div>\n<\/div>\n
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much on the offer<\/div>\n<\/div>\n<\/div>\n
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you can see all the red prints just went<\/div>\n<\/div>\n<\/div>\n
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through there on the times and sales<\/div>\n<\/div>\n<\/div>\n
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bringing us back<\/div>\n<\/div>\n<\/div>\n
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under 40s<\/div>\n<\/div>\n<\/div>\n
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and keeping an open mind on these trades<\/div>\n<\/div>\n<\/div>\n
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is important i know<\/div>\n<\/div>\n<\/div>\n
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from talking to mike this morning<\/div>\n<\/div>\n<\/div>\n
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mike bella fiore he was trading this<\/div>\n<\/div>\n<\/div>\n
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originally long um but then saw this<\/div>\n<\/div>\n<\/div>\n
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really<\/div>\n<\/div>\n<\/div>\n
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large held offer area at 3844<\/div>\n<\/div>\n<\/div>\n
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and then got short and was using that<\/div>\n<\/div>\n<\/div>\n
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trade i was talking about just risking<\/div>\n<\/div>\n<\/div>\n
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right against that level<\/div>\n<\/div>\n<\/div>\n
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so this is a really textbook example<\/div>\n<\/div>\n<\/div>\n
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of trading off of that and why we want<\/div>\n<\/div>\n<\/div>\n
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to highlight this area<\/div>\n<\/div>\n<\/div>\n
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for the stock on the day because<\/div>\n<\/div>\n<\/div>\n
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there’ll be a large reaction for the<\/div>\n<\/div>\n<\/div>\n
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rest of the afternoon after<\/div>\n<\/div>\n<\/div>\n
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seeing that there were sellers that<\/div>\n<\/div>\n<\/div>\n
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really wanted to hold this<\/div>\n<\/div>\n<\/div>\n
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yeah again off keeping an open mind you<\/div>\n<\/div>\n<\/div>\n
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know it’s important to acknowledge our<\/div>\n<\/div>\n<\/div>\n
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ball is over 15 on the day so<\/div>\n<\/div>\n<\/div>\n
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with so much volume and such a big<\/div>\n<\/div>\n<\/div>\n
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contest going up here at the in the high<\/div>\n<\/div>\n<\/div>\n
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40s<\/div>\n<\/div>\n<\/div>\n
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we can kind of expect price to really<\/div>\n<\/div>\n<\/div>\n
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extend from whichever direction it picks<\/div>\n<\/div>\n<\/div>\n
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all right it’ll be this this it’ll be no<\/div>\n<\/div>\n<\/div>\n
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no it’ll be this candle or the next i<\/div>\n<\/div>\n<\/div>\n
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believe or it breaks down<\/div>\n<\/div>\n<\/div>\n
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is that like 39 yeah so then we see<\/div>\n<\/div>\n<\/div>\n
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come to the bottom of this range the<\/div>\n<\/div>\n<\/div>\n
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3830s quickly give out where there was<\/div>\n<\/div>\n<\/div>\n
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some buying to hold it up there<\/div>\n<\/div>\n<\/div>\n
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so if you were in short from risking<\/div>\n<\/div>\n<\/div>\n
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against that held offer level you’re<\/div>\n<\/div>\n<\/div>\n
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in the green now by a good 15 20 cents<\/div>\n<\/div>\n<\/div>\n
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so and in all likelihood if you’re<\/div>\n<\/div>\n<\/div>\n
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taking that strategy<\/div>\n<\/div>\n<\/div>\n
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we shouldn’t see price start to grind<\/div>\n<\/div>\n<\/div>\n
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back up to that level<\/div>\n<\/div>\n<\/div>\n
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exactly yeah this should work in your<\/div>\n<\/div>\n<\/div>\n
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favor almost instantly and you can take<\/div>\n<\/div>\n<\/div>\n
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a little risk off in an area like this<\/div>\n<\/div>\n<\/div>\n
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where you know it could get supported<\/div>\n<\/div>\n<\/div>\n
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because it got supported earlier there<\/div>\n<\/div>\n<\/div>\n
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in the 38 tens but<\/div>\n<\/div>\n<\/div>\n
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there’s no reason to take off all your<\/div>\n<\/div>\n<\/div>\n
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risk as your short is definitely still<\/div>\n<\/div>\n<\/div>\n
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working you know there were people<\/div>\n<\/div>\n<\/div>\n
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holding this down<\/div>\n<\/div>\n<\/div>\n
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\n
in the 38 40s last time it gapped up on<\/div>\n<\/div>\n<\/div>\n
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\n
vaccine news as graham said earlier<\/div>\n<\/div>\n<\/div>\n
\n
\n
it did open week and had a weaker day so<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s a little bit in the back of our<\/div>\n<\/div>\n<\/div>\n
\n
\n
mind that<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s a similar trend we’ve seen and<\/div>\n<\/div>\n<\/div>\n
\n
\n
traders might be thinking about that<\/div>\n<\/div>\n<\/div>\n
\n
\n
on longer time frames we’re trying to<\/div>\n<\/div>\n<\/div>\n
\n
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maybe swing this and things of that<\/div>\n<\/div>\n<\/div>\n
\n
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nature<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you see come into these 38 tens want<\/div>\n<\/div>\n<\/div>\n
\n
\n
to see how it holds here<\/div>\n<\/div>\n<\/div>\n
\n
\n
realistically we want to see it get<\/div>\n<\/div>\n<\/div>\n
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\n
under 3810 and hold under there<\/div>\n<\/div>\n<\/div>\n
\n
\n
because earlier in the morning we got<\/div>\n<\/div>\n<\/div>\n
\n
\n
under that 3810 looked like it was gonna<\/div>\n<\/div>\n<\/div>\n
\n
\n
break down<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then once we got back over that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
where we saw that up move to the 3840s<\/div>\n<\/div>\n<\/div>\n
\n
\n
so this is going to be weaker than last<\/div>\n<\/div>\n<\/div>\n
\n
\n
time and really get that failed<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakdown now we want to stay under<\/div>\n<\/div>\n<\/div>\n
\n
\n
38.10<\/div>\n<\/div>\n<\/div>\n
\n
\n
so now we’re under it we can see how it<\/div>\n<\/div>\n<\/div>\n
\n
\n
reacts we’re a new world of day now<\/div>\n<\/div>\n<\/div>\n
\n
\n
huge offer bid there 3805 if that gives<\/div>\n<\/div>\n<\/div>\n
\n
\n
out then that’s going to be even more of<\/div>\n<\/div>\n<\/div>\n
\n
\n
a wash<\/div>\n<\/div>\n<\/div>\n
\n
\n
they’ve got 350 on the bid there<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i would be holding here looking for<\/div>\n<\/div>\n<\/div>\n
\n
\n
that wash out<\/div>\n<\/div>\n<\/div>\n
\n
\n
to cover some more<\/div>\n<\/div>\n<\/div>\n
\n
\n
so we’re under 38.10 so now we’re really<\/div>\n<\/div>\n<\/div>\n
\n
\n
hoping<\/div>\n<\/div>\n<\/div>\n
\n
\n
to see this hold under here<\/div>\n<\/div>\n<\/div>\n
\n
\n
we see that big better is gone now yep<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah we got right to 38 10 didn’t test<\/div>\n<\/div>\n<\/div>\n
\n
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over it<\/div>\n<\/div>\n<\/div>\n
\n
\n
and came back down so this is looking<\/div>\n<\/div>\n<\/div>\n
\n
\n
a good bit better but he seems to<\/div>\n<\/div>\n<\/div>\n
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refresh down there<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then this is the real<\/div>\n<\/div>\n<\/div>\n
\n
\n
part of the move you’re looking for<\/div>\n<\/div>\n<\/div>\n
\n
\n
where it breaks under that<\/div>\n<\/div>\n<\/div>\n
\n
\n
major support gets extended now you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
anyone who was buying for the morning<\/div>\n<\/div>\n<\/div>\n
\n
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dip<\/div>\n<\/div>\n<\/div>\n
\n
\n
is now um in the red uh anyone who’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
trying to buy the breakout<\/div>\n<\/div>\n<\/div>\n
\n
\n
is in the red so uh you know you<\/div>\n<\/div>\n<\/div>\n
\n
\n
definitely have people that are a little<\/div>\n<\/div>\n<\/div>\n
\n
\n
bit underwater now anyone trying to take<\/div>\n<\/div>\n<\/div>\n
\n
\n
this long off the positive news and<\/div>\n<\/div>\n<\/div>\n
\n
\n
you see very large bids there yes yeah<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s important there’s 38<\/div>\n<\/div>\n<\/div>\n
\n
\n
if that can give out then you definitely<\/div>\n<\/div>\n<\/div>\n
\n
\n
know<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s less people holding this up and<\/div>\n<\/div>\n<\/div>\n
\n
\n
you get a wash under<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that’s really the biggest part of<\/div>\n<\/div>\n<\/div>\n
\n
\n
the tape we wanted to highlight<\/div>\n<\/div>\n<\/div>\n
\n
\n
because it gives it a weaker trend on<\/div>\n<\/div>\n<\/div>\n
\n
\n
the day and we’ll see<\/div>\n<\/div>\n<\/div>\n
\n
\n
throughout this morning session it did<\/div>\n<\/div>\n<\/div>\n
\n
\n
continue to fade off as sellers just<\/div>\n<\/div>\n<\/div>\n
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\n
kept pushing it down<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe major institutions who needed to<\/div>\n<\/div>\n<\/div>\n
\n
\n
accumulate<\/div>\n<\/div>\n<\/div>\n
\n
\n
because changing fundamentals of the<\/div>\n<\/div>\n<\/div>\n
\n
\n
company based off their new<\/div>\n<\/div>\n<\/div>\n
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\n
cash flow that they’ll be awarded from<\/div>\n<\/div>\n<\/div>\n
\n
\n
their vaccines and things of that nature<\/div>\n<\/div>\n<\/div>\n
\n
\n
they could be seeing this as a little<\/div>\n<\/div>\n<\/div>\n
\n
\n
overvalued on the pop and<\/div>\n<\/div>\n<\/div>\n
\n
\n
that could have been someone big that<\/div>\n<\/div>\n<\/div>\n
\n
\n
was holding it down in the 38 40s<\/div>\n<\/div>\n<\/div>\n
\n
\n
definitely and even if you do just look<\/div>\n<\/div>\n<\/div>\n
\n
\n
at this as 40 cents from<\/div>\n<\/div>\n<\/div>\n
\n
\n
remember from a risk reward standpoint<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is a pretty fantastic trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
if you’re risking four maybe five cents<\/div>\n<\/div>\n<\/div>\n
\n
\n
on this yeah you can<\/div>\n<\/div>\n<\/div>\n
\n
\n
really scale in pretty significantly if<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know how to manage it<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah that’s an easy three four times<\/div>\n<\/div>\n<\/div>\n
\n
\n
risk reward trade well not easy but<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s a really solid<\/div>\n<\/div>\n<\/div>\n
\n
\n
three four times restored trade where<\/div>\n<\/div>\n<\/div>\n
\n
\n
you have a clearly defined risk level<\/div>\n<\/div>\n<\/div>\n
\n
\n
that lets you like you said size up<\/div>\n<\/div>\n<\/div>\n
\n
\n
accordingly if you<\/div>\n<\/div>\n<\/div>\n
\n
\n
see your variables that give you<\/div>\n<\/div>\n<\/div>\n
\n
\n
continued confirmation to add in more<\/div>\n<\/div>\n<\/div>\n
\n
\n
size<\/div>\n<\/div>\n<\/div>\n
\n
\n
so if you just want to i guess skip<\/div>\n<\/div>\n<\/div>\n
\n
\n
ahead now gram maybe like<\/div>\n<\/div>\n<\/div>\n
\n
\n
through most of the morning i mean just<\/div>\n<\/div>\n<\/div>\n
\n
\n
kind of see the continued<\/div>\n<\/div>\n<\/div>\n
\n
\n
fade yeah the rest of this is just<\/div>\n<\/div>\n<\/div>\n
\n
\n
knowing how to sit on your hands for a<\/div>\n<\/div>\n<\/div>\n
\n
\n
trend and letting it work for you<\/div>\n<\/div>\n<\/div>\n
\n
\n
um yeah cnc under that 38 level<\/div>\n<\/div>\n<\/div>\n
\n
\n
kind of got there held under came out 37<\/div>\n<\/div>\n<\/div>\n
\n
\n
80s and then it’s just a matter of if<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’re trying to play the trend on this<\/div>\n<\/div>\n<\/div>\n
\n
\n
throughout the day you’re probably<\/div>\n<\/div>\n<\/div>\n
\n
\n
shorting pops that hold under major<\/div>\n<\/div>\n<\/div>\n
\n
\n
levels like holding under 38 there and<\/div>\n<\/div>\n<\/div>\n
\n
\n
covering your risk on the way down and<\/div>\n<\/div>\n<\/div>\n
\n
\n
just sizing appropriately<\/div>\n<\/div>\n<\/div>\n
\n
\n
playing the trend so that’s this is just<\/div>\n<\/div>\n<\/div>\n
\n
\n
a really good example of how<\/div>\n<\/div>\n<\/div>\n
\n
\n
that that information you gather in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
opening half hour<\/div>\n<\/div>\n<\/div>\n
\n
\n
can really lead you to spot the bigger<\/div>\n<\/div>\n<\/div>\n
\n
\n
trades and the bigger trends and<\/div>\n<\/div>\n<\/div>\n
\n
\n
who’s really in control of the stock and<\/div>\n<\/div>\n<\/div>\n
\n
\n
just from that five minute<\/div>\n<\/div>\n<\/div>\n
\n
\n
period of watching the tape closely we<\/div>\n<\/div>\n<\/div>\n
\n
\n
gained so much information that showed<\/div>\n<\/div>\n<\/div>\n
\n
\n
us there were<\/div>\n<\/div>\n<\/div>\n
\n
\n
a lot of sellers really holding this<\/div>\n<\/div>\n<\/div>\n
\n
\n
down and it can lead to<\/div>\n<\/div>\n<\/div>\n
\n
\n
definitely a really solid trade hey go<\/div>\n<\/div>\n<\/div>\n
\n
\n
ahead and click our subscribe button so<\/div>\n<\/div>\n<\/div>\n
\n
\n
you don’t miss any of the videos they’re<\/div>\n<\/div>\n<\/div>\n
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producing for you and the trading<\/div>\n<\/div>\n<\/div>\n
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\n
community and please take the time to<\/div>\n<\/div>\n<\/div>\n
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\n
add your feedback<\/div>\n<\/div>\n<\/div>\n
\n
\n
in the comments section for what videos<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’d like for us to produce next<\/div>\n<\/div>\n<\/div>\n
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and what you found helpful from this<\/div>\n<\/div>\n<\/div>\n
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\n
video from all of us at smb<\/div>\n<\/div>\n<\/div>\n
\n
\n
train and trade well<\/div>\n<\/div>\n<\/div>\n<\/div>\"\"<\/a><\/p>\n

* no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"

In this video, learn how to use Reading the Tape to make a simple and profitable large cap stock trade. Two firm traders do a fantastic job breaking down a trade in Pfizer, where they spotted important information from Reading the Tape. Let\u2019s get to work on sharing these important trading lessons so you can grow your trading account. * … Read More<\/a><\/p>\n","protected":false},"author":290,"featured_media":50011,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[4189],"tags":[],"class_list":["post-50010","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-free-daily-trading-video","post_format-post-format-video"],"yoast_head":"\nHow to Use Reading the Tape to Make a Simple and Profitable Large Cap Stock Trade | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/how-to-use-reading-the-tape-to-make-a-simple-and-profitable-large-cap-stock-trade\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Use Reading the Tape to Make a Simple and Profitable Large Cap Stock Trade | SMB Training\" \/>\n<meta property=\"og:description\" content=\"In this video, learn how to use Reading the Tape to make a simple and profitable large cap stock trade. Two firm traders do a fantastic job breaking down a trade in Pfizer, where they spotted important information from Reading the Tape. Let\u2019s get to work on sharing these important trading lessons so you can grow your trading account. * ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/how-to-use-reading-the-tape-to-make-a-simple-and-profitable-large-cap-stock-trade\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-23T18:24:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2020\/07\/reading-the-tape-profitable-trade.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"smbcapital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta 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