{"id":50767,"date":"2021-04-26T11:16:39","date_gmt":"2021-04-26T15:16:39","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=50767"},"modified":"2021-04-26T11:16:39","modified_gmt":"2021-04-26T15:16:39","slug":"prop-trader-details-a-stock-trade-you-can-make-right-on-the-open","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/prop-trader-details-a-stock-trade-you-can-make-right-on-the-open","title":{"rendered":"Prop Trader Details a Stock Trade You Can Make Right on the Open"},"content":{"rendered":"

In this video a SMB trader details a stock trade you can make right on the Open. Matt explains how this fast trade on the Open sets up and how to properly execute it.<\/p>\nView Video Transcript<\/strong><\/span>

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this is matthew with smb capital here to<\/div>\n<\/div>\n<\/div>\n
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share with you a playbook<\/div>\n<\/div>\n<\/div>\n
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in neo an electric vehicle company this<\/div>\n<\/div>\n<\/div>\n
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playbook will be focusing on an opening<\/div>\n<\/div>\n<\/div>\n
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drive continuation play<\/div>\n<\/div>\n<\/div>\n
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which is a trade i’ve really been trying<\/div>\n<\/div>\n<\/div>\n
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to build out in my first year here at<\/div>\n<\/div>\n<\/div>\n
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smb<\/div>\n<\/div>\n<\/div>\n
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as it’s been both my most successful and<\/div>\n<\/div>\n<\/div>\n
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my favorite trade to execute<\/div>\n<\/div>\n<\/div>\n
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as it’s fast natured it’s a lot of tape<\/div>\n<\/div>\n<\/div>\n
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reading<\/div>\n<\/div>\n<\/div>\n
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and a lot of quick entries and exits<\/div>\n<\/div>\n<\/div>\n
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which usually plays to my strengths<\/div>\n<\/div>\n<\/div>\n
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i hope you enjoy listening to the video<\/div>\n<\/div>\n<\/div>\n
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if you have any questions feel free to<\/div>\n<\/div>\n<\/div>\n
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leave them and we will try to get back<\/div>\n<\/div>\n<\/div>\n
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to you<\/div>\n<\/div>\n<\/div>\n
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[Music]<\/div>\n<\/div>\n<\/div>\n
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today we will be looking at a playbook<\/div>\n<\/div>\n<\/div>\n
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for an opening drive<\/div>\n<\/div>\n<\/div>\n
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continuation play which is a trade i’ve<\/div>\n<\/div>\n<\/div>\n
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been trying to build out<\/div>\n<\/div>\n<\/div>\n
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for most of my time at smb now this will<\/div>\n<\/div>\n<\/div>\n
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be<\/div>\n<\/div>\n<\/div>\n
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a playbook for an opening drive<\/div>\n<\/div>\n<\/div>\n
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continuation which is one of my favorite<\/div>\n<\/div>\n<\/div>\n
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trades that i’ve been trying to build<\/div>\n<\/div>\n<\/div>\n
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out here<\/div>\n<\/div>\n<\/div>\n
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trade strategy you want to make sure<\/div>\n<\/div>\n<\/div>\n
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you’re finding a stock that’s really<\/div>\n<\/div>\n<\/div>\n
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in play elevated arvol anything with<\/div>\n<\/div>\n<\/div>\n
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fresh news<\/div>\n<\/div>\n<\/div>\n
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anything that’s breaking out near major<\/div>\n<\/div>\n<\/div>\n
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technical levels<\/div>\n<\/div>\n<\/div>\n
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and then for this trade specifically you<\/div>\n<\/div>\n<\/div>\n
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want to have good pre-market levels to<\/div>\n<\/div>\n<\/div>\n
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really risk off of<\/div>\n<\/div>\n<\/div>\n
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to make that initial move<\/div>\n<\/div>\n<\/div>\n
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off the open so that way you can look<\/div>\n<\/div>\n<\/div>\n
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for pullbacks and continuation<\/div>\n<\/div>\n<\/div>\n
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over or under those major levels in this<\/div>\n<\/div>\n<\/div>\n
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case it’ll be<\/div>\n<\/div>\n<\/div>\n
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an opening drive long trade so we’ll be<\/div>\n<\/div>\n<\/div>\n
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watching<\/div>\n<\/div>\n<\/div>\n
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an initial breakout and then the first<\/div>\n<\/div>\n<\/div>\n
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major pullback to<\/div>\n<\/div>\n<\/div>\n
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get involved long for more continuation<\/div>\n<\/div>\n<\/div>\n
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after seeing accumulation on the open<\/div>\n<\/div>\n<\/div>\n
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so the catalyst we were trading neo<\/div>\n<\/div>\n<\/div>\n
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um the electric vehicle company in this<\/div>\n<\/div>\n<\/div>\n
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trade<\/div>\n<\/div>\n<\/div>\n
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which also is in the same sector as<\/div>\n<\/div>\n<\/div>\n
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tesla and sometimes they trade in tandem<\/div>\n<\/div>\n<\/div>\n
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so the news was neo had suspended their<\/div>\n<\/div>\n<\/div>\n
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vehicle production<\/div>\n<\/div>\n<\/div>\n
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in a manufacturing plant for five days<\/div>\n<\/div>\n<\/div>\n
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because there’s been an overall<\/div>\n<\/div>\n<\/div>\n
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semiconductor shortage<\/div>\n<\/div>\n<\/div>\n
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for um just the<\/div>\n<\/div>\n<\/div>\n
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[Music]<\/div>\n<\/div>\n<\/div>\n
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industry itself tesla also had a<\/div>\n<\/div>\n<\/div>\n
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negative stock reaction off this news<\/div>\n<\/div>\n<\/div>\n
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because<\/div>\n<\/div>\n<\/div>\n
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semiconductor shortage affects them and<\/div>\n<\/div>\n<\/div>\n
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then<\/div>\n<\/div>\n<\/div>\n
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the competition in the ev space is<\/div>\n<\/div>\n<\/div>\n
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really<\/div>\n<\/div>\n<\/div>\n
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increasing and the global chip shortage<\/div>\n<\/div>\n<\/div>\n
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is making a lot of pressure<\/div>\n<\/div>\n<\/div>\n
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a lot of downside pressure on these ev<\/div>\n<\/div>\n<\/div>\n
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names so we’re watching<\/div>\n<\/div>\n<\/div>\n
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for a long play on this one in terms of<\/div>\n<\/div>\n<\/div>\n
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this has been beaten down recently<\/div>\n<\/div>\n<\/div>\n
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maybe this could be a good day for a<\/div>\n<\/div>\n<\/div>\n
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good buying opportunity<\/div>\n<\/div>\n<\/div>\n
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as people that believe in the value of<\/div>\n<\/div>\n<\/div>\n
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the stock more or<\/div>\n<\/div>\n<\/div>\n
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just see this as a good technical<\/div>\n<\/div>\n<\/div>\n
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sell-off an area to risk against<\/div>\n<\/div>\n<\/div>\n
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these can all come into play so the<\/div>\n<\/div>\n<\/div>\n
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intraday fundamentals<\/div>\n<\/div>\n<\/div>\n
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five over five times our ball which is<\/div>\n<\/div>\n<\/div>\n
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very significant<\/div>\n<\/div>\n<\/div>\n
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and significant in a good way as it can<\/div>\n<\/div>\n<\/div>\n
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just lead to those outsized<\/div>\n<\/div>\n<\/div>\n
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moves giving us a greater risk to reward<\/div>\n<\/div>\n<\/div>\n
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you can see 58 billion dollar market cap<\/div>\n<\/div>\n<\/div>\n
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so this is a substantial company now<\/div>\n<\/div>\n<\/div>\n
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they do have<\/div>\n<\/div>\n<\/div>\n
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a lot of cash behind them there are a<\/div>\n<\/div>\n<\/div>\n
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lot of institutions involved<\/div>\n<\/div>\n<\/div>\n
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so if they really step in and we see<\/div>\n<\/div>\n<\/div>\n
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that trending off the open<\/div>\n<\/div>\n<\/div>\n
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you can really expect to see more follow<\/div>\n<\/div>\n<\/div>\n
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through if there’s major institutional<\/div>\n<\/div>\n<\/div>\n
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buying<\/div>\n<\/div>\n<\/div>\n
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as well as day trading buying and thing<\/div>\n<\/div>\n<\/div>\n
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technical buying off<\/div>\n<\/div>\n<\/div>\n
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the elevated arvol in the interest there<\/div>\n<\/div>\n<\/div>\n
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so this is what the technical chart<\/div>\n<\/div>\n<\/div>\n
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looked like coming into the trade um you<\/div>\n<\/div>\n<\/div>\n
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can see<\/div>\n<\/div>\n<\/div>\n
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previously had been trying for the prior<\/div>\n<\/div>\n<\/div>\n
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week to consolidate between this 40 to<\/div>\n<\/div>\n<\/div>\n
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45 area<\/div>\n<\/div>\n<\/div>\n
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and with this negative news pushing the<\/div>\n<\/div>\n<\/div>\n
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sector and you know downwards we pulled<\/div>\n<\/div>\n<\/div>\n
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into this major 35 level<\/div>\n<\/div>\n<\/div>\n
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as you can see is where we really based<\/div>\n<\/div>\n<\/div>\n
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about a month before this trade before<\/div>\n<\/div>\n<\/div>\n
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trying to go higher<\/div>\n<\/div>\n<\/div>\n
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so this could be a good area that people<\/div>\n<\/div>\n<\/div>\n
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are looking at longer term to come in<\/div>\n<\/div>\n<\/div>\n
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and defend the stock<\/div>\n<\/div>\n<\/div>\n
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and really buy up that support level<\/div>\n<\/div>\n<\/div>\n
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on the hourly you can see it a little<\/div>\n<\/div>\n<\/div>\n
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more clearly it uh<\/div>\n<\/div>\n<\/div>\n
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really pulled into that 35 in the<\/div>\n<\/div>\n<\/div>\n
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pre-market<\/div>\n<\/div>\n<\/div>\n
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in cs’s post market and then in the<\/div>\n<\/div>\n<\/div>\n
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pre-market this news really broke<\/div>\n<\/div>\n<\/div>\n
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sold off about three dollars per share<\/div>\n<\/div>\n<\/div>\n
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so we’re thinking if it’s holding lower<\/div>\n<\/div>\n<\/div>\n
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off the open there might be a good<\/div>\n<\/div>\n<\/div>\n
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chance for<\/div>\n<\/div>\n<\/div>\n
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a bounce um this is kind of what the one<\/div>\n<\/div>\n<\/div>\n
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minute looked like and i’m showing you<\/div>\n<\/div>\n<\/div>\n
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this because i want to compare this<\/div>\n<\/div>\n<\/div>\n
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one-minute chart to the one-minute chart<\/div>\n<\/div>\n<\/div>\n
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of tesla<\/div>\n<\/div>\n<\/div>\n
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and show you how they were also kind of<\/div>\n<\/div>\n<\/div>\n
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trading similarly in tandem<\/div>\n<\/div>\n<\/div>\n
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to give you a little more conviction<\/div>\n<\/div>\n<\/div>\n
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that there is strength and overall<\/div>\n<\/div>\n<\/div>\n
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buying<\/div>\n<\/div>\n<\/div>\n
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not just in this name but in other names<\/div>\n<\/div>\n<\/div>\n
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within the same industry<\/div>\n<\/div>\n<\/div>\n
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and that could be a factor<\/div>\n<\/div>\n<\/div>\n
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of the institutional buying really<\/div>\n<\/div>\n<\/div>\n
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stepping in and giving<\/div>\n<\/div>\n<\/div>\n
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that trending move so you can see now<\/div>\n<\/div>\n<\/div>\n
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the tesla one minute chart<\/div>\n<\/div>\n<\/div>\n
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both had a strong opening drive a small<\/div>\n<\/div>\n<\/div>\n
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pullback<\/div>\n<\/div>\n<\/div>\n
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some continuation a pullback and some<\/div>\n<\/div>\n<\/div>\n
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continuation<\/div>\n<\/div>\n<\/div>\n
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so you can really see just these<\/div>\n<\/div>\n<\/div>\n
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pullbacks all getting bought up both in<\/div>\n<\/div>\n<\/div>\n
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tesla<\/div>\n<\/div>\n<\/div>\n
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ending neo off the open<\/div>\n<\/div>\n<\/div>\n
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so pre-market this is what we’re looking<\/div>\n<\/div>\n<\/div>\n
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at coming into the day before the<\/div>\n<\/div>\n<\/div>\n
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markets opened<\/div>\n<\/div>\n<\/div>\n
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we see we broke through this 737 level<\/div>\n<\/div>\n<\/div>\n
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that was like your real<\/div>\n<\/div>\n<\/div>\n
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post market inflection pulled down<\/div>\n<\/div>\n<\/div>\n
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and kind of started basing between this<\/div>\n<\/div>\n<\/div>\n
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like 3460 to like 3480 you can see<\/div>\n<\/div>\n<\/div>\n
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multiple times<\/div>\n<\/div>\n<\/div>\n
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made a new low here and then failed to<\/div>\n<\/div>\n<\/div>\n
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hold lower<\/div>\n<\/div>\n<\/div>\n
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and that’s the kind of our low of the<\/div>\n<\/div>\n<\/div>\n
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morning now that we’re gonna be watching<\/div>\n<\/div>\n<\/div>\n
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and you can see this 35 like 20 level we<\/div>\n<\/div>\n<\/div>\n
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touched it multiple times when trying to<\/div>\n<\/div>\n<\/div>\n
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hold under<\/div>\n<\/div>\n<\/div>\n
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so if we really get momentum and volume<\/div>\n<\/div>\n<\/div>\n
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through that level<\/div>\n<\/div>\n<\/div>\n
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i mean there’s a large gap to fill a lot<\/div>\n<\/div>\n<\/div>\n
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of good rr there even if you’re risking<\/div>\n<\/div>\n<\/div>\n
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to the bottom of the range<\/div>\n<\/div>\n<\/div>\n
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but in an opening drive continuation<\/div>\n<\/div>\n<\/div>\n
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play you don’t even have to give it that<\/div>\n<\/div>\n<\/div>\n
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large of risk because we’re going to buy<\/div>\n<\/div>\n<\/div>\n
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the first pullback<\/div>\n<\/div>\n<\/div>\n
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rather than being in on the initial<\/div>\n<\/div>\n<\/div>\n
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momentum move where it might be a little<\/div>\n<\/div>\n<\/div>\n
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harder to size<\/div>\n<\/div>\n<\/div>\n
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if you want to learn three more real<\/div>\n<\/div>\n<\/div>\n
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world setups that our traders 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<\/div>\n<\/div>\n<\/div>\n
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and the setup that turned one of our<\/div>\n<\/div>\n<\/div>\n
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traders into a seven figure<\/div>\n<\/div>\n<\/div>\n
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big money earner check out the free<\/div>\n<\/div>\n<\/div>\n
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webinar that we’re currently running<\/div>\n<\/div>\n<\/div>\n
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just go ahead<\/div>\n<\/div>\n<\/div>\n
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and click the link that should be<\/div>\n<\/div>\n<\/div>\n
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appearing now at the top<\/div>\n<\/div>\n<\/div>\n
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right hand corner of your screen that<\/div>\n<\/div>\n<\/div>\n
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will open up the free registration page<\/div>\n<\/div>\n<\/div>\n
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in a new window so don’t worry<\/div>\n<\/div>\n<\/div>\n
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you won’t lose this video you can also<\/div>\n<\/div>\n<\/div>\n
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visit<\/div>\n<\/div>\n<\/div>\n
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tradingworkshop.com to register for this<\/div>\n<\/div>\n<\/div>\n
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free intensive<\/div>\n<\/div>\n<\/div>\n
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workshop you’re going to learn more in a<\/div>\n<\/div>\n<\/div>\n
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couple of hours from this trading<\/div>\n<\/div>\n<\/div>\n
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workshop<\/div>\n<\/div>\n<\/div>\n
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than from years of online education this<\/div>\n<\/div>\n<\/div>\n
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is what the stock looked like on the one<\/div>\n<\/div>\n<\/div>\n
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minute<\/div>\n<\/div>\n<\/div>\n
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during the intraday first hour<\/div>\n<\/div>\n<\/div>\n
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from 9 30 to 10 30. and you can see<\/div>\n<\/div>\n<\/div>\n
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this 35 20 level the two minutes prior<\/div>\n<\/div>\n<\/div>\n
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to the open<\/div>\n<\/div>\n<\/div>\n
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starts to consolidate there immediately<\/div>\n<\/div>\n<\/div>\n
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off the open<\/div>\n<\/div>\n<\/div>\n
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breaks out on good volume and then this<\/div>\n<\/div>\n<\/div>\n
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first major pullback<\/div>\n<\/div>\n<\/div>\n
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is where we’re gonna get long and look<\/div>\n<\/div>\n<\/div>\n
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to scale out<\/div>\n<\/div>\n<\/div>\n
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so the real importance of how you get in<\/div>\n<\/div>\n<\/div>\n
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here is the tape<\/div>\n<\/div>\n<\/div>\n
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this 36 dollar level i’ll show on the<\/div>\n<\/div>\n<\/div>\n
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tape both on the breakout<\/div>\n<\/div>\n<\/div>\n
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and on the breakdown are really<\/div>\n<\/div>\n<\/div>\n
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important levels that is both a<\/div>\n<\/div>\n<\/div>\n
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psychological level<\/div>\n<\/div>\n<\/div>\n
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and clear action level on the tape we’ll<\/div>\n<\/div>\n<\/div>\n
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see that on the initial breakout before<\/div>\n<\/div>\n<\/div>\n
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we break higher we really stall<\/div>\n<\/div>\n<\/div>\n
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at this 36 and then on the breakdown as<\/div>\n<\/div>\n<\/div>\n
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well we really stall<\/div>\n<\/div>\n<\/div>\n
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at that 36 break under and then fail to<\/div>\n<\/div>\n<\/div>\n
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hold under<\/div>\n<\/div>\n<\/div>\n
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so these the breakout and the breakdown<\/div>\n<\/div>\n<\/div>\n
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and how that 36 level reacts is really<\/div>\n<\/div>\n<\/div>\n
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going to be<\/div>\n<\/div>\n<\/div>\n
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um the key make or break point in the<\/div>\n<\/div>\n<\/div>\n
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trade as these opening drive trades are<\/div>\n<\/div>\n<\/div>\n
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fairly quick so i’ll skip around to<\/div>\n<\/div>\n<\/div>\n
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the most important parts top left chart<\/div>\n<\/div>\n<\/div>\n
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is the five minute chart of neo bottom<\/div>\n<\/div>\n<\/div>\n
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left<\/div>\n<\/div>\n<\/div>\n
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is the one minute and this bottom center<\/div>\n<\/div>\n<\/div>\n
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times and sales<\/div>\n<\/div>\n<\/div>\n
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is where we’ll be executing on the level<\/div>\n<\/div>\n<\/div>\n
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two in the center and the times and<\/div>\n<\/div>\n<\/div>\n
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sales to the right of it<\/div>\n<\/div>\n<\/div>\n
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so off the open we got this strong push<\/div>\n<\/div>\n<\/div>\n
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and now i’m going to show you<\/div>\n<\/div>\n<\/div>\n
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how we break above the 36 level and how<\/div>\n<\/div>\n<\/div>\n
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it kind of needs<\/div>\n<\/div>\n<\/div>\n
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time or i’m sorry and how it just like<\/div>\n<\/div>\n<\/div>\n
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breaks through the level even when<\/div>\n<\/div>\n<\/div>\n
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offers are stacked<\/div>\n<\/div>\n<\/div>\n
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so we’ll see it’s like kind of<\/div>\n<\/div>\n<\/div>\n
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consolidating higher<\/div>\n<\/div>\n<\/div>\n
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just bids stepping up nothing crazy here<\/div>\n<\/div>\n<\/div>\n
\n
\n
looking to see more momentum to come in<\/div>\n<\/div>\n<\/div>\n
\n
\n
to get really through that<\/div>\n<\/div>\n<\/div>\n
\n
\n
36 level we’ll see on the offer<\/div>\n<\/div>\n<\/div>\n
\n
\n
114 at 36 that’s bigger than anything<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’ve seen all morning so<\/div>\n<\/div>\n<\/div>\n
\n
\n
that could be the first major area they<\/div>\n<\/div>\n<\/div>\n
\n
\n
try and hold it down<\/div>\n<\/div>\n<\/div>\n
\n
\n
but if that just breaks through then<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is looking quite strong<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you can see it takes it out and<\/div>\n<\/div>\n<\/div>\n
\n
\n
jumps 20 cents instantly<\/div>\n<\/div>\n<\/div>\n
\n
\n
and is now still holding higher so<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s a really good i i it’s really<\/div>\n<\/div>\n<\/div>\n
\n
\n
good mentally to note<\/div>\n<\/div>\n<\/div>\n
\n
\n
okay before this could break higher it<\/div>\n<\/div>\n<\/div>\n
\n
\n
needed to take out all those offers at<\/div>\n<\/div>\n<\/div>\n
\n
\n
36<\/div>\n<\/div>\n<\/div>\n
\n
\n
so if it pulls back to 36 we want to see<\/div>\n<\/div>\n<\/div>\n
\n
\n
are people still getting involved there<\/div>\n<\/div>\n<\/div>\n
\n
\n
and we can see here that it’s pulling<\/div>\n<\/div>\n<\/div>\n
\n
\n
back to 36 and really holding now it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
only getting below it a couple cents<\/div>\n<\/div>\n<\/div>\n
\n
\n
no momentum is coming in below that<\/div>\n<\/div>\n<\/div>\n
\n
\n
level<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh this bottom times and sales this<\/div>\n<\/div>\n<\/div>\n
\n
\n
small one is block orders so larger<\/div>\n<\/div>\n<\/div>\n
\n
\n
orders we’re not seeing any red block<\/div>\n<\/div>\n<\/div>\n
\n
\n
orders<\/div>\n<\/div>\n<\/div>\n
\n
\n
and we’re just back over that level<\/div>\n<\/div>\n<\/div>\n
\n
\n
quickly so<\/div>\n<\/div>\n<\/div>\n
\n
\n
they really did defend that level after<\/div>\n<\/div>\n<\/div>\n
\n
\n
breaking over it<\/div>\n<\/div>\n<\/div>\n
\n
\n
now i’ll skip ahead a bit we just kind<\/div>\n<\/div>\n<\/div>\n
\n
\n
of grind higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then i’m going to show us the first<\/div>\n<\/div>\n<\/div>\n
\n
\n
major momentum shift after the breakout<\/div>\n<\/div>\n<\/div>\n
\n
\n
and<\/div>\n<\/div>\n<\/div>\n
\n
\n
so now we’re going to look at the<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakdown under 36<\/div>\n<\/div>\n<\/div>\n
\n
\n
and the next pull into 36 to see if we<\/div>\n<\/div>\n<\/div>\n
\n
\n
can really hold<\/div>\n<\/div>\n<\/div>\n
\n
\n
so he broke out over 36 held it made a<\/div>\n<\/div>\n<\/div>\n
\n
\n
new high<\/div>\n<\/div>\n<\/div>\n
\n
\n
so this is a traditional opening drive<\/div>\n<\/div>\n<\/div>\n
\n
\n
move and now we want to see if this<\/div>\n<\/div>\n<\/div>\n
\n
\n
first pullback can hold<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh that first area it held before<\/div>\n<\/div>\n<\/div>\n
\n
\n
breaking out which in our case is the 36<\/div>\n<\/div>\n<\/div>\n
\n
\n
dollar level<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you often expect it to test under the<\/div>\n<\/div>\n<\/div>\n
\n
\n
level um<\/div>\n<\/div>\n<\/div>\n
\n
\n
before it really holds it’s not just<\/div>\n<\/div>\n<\/div>\n
\n
\n
going to hold perfectly the sense it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
kind of a zone<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i’m just seeing that how it reacts<\/div>\n<\/div>\n<\/div>\n
\n
\n
under 36 is it breaking down<\/div>\n<\/div>\n<\/div>\n
\n
\n
is it getting momentum and right now the<\/div>\n<\/div>\n<\/div>\n
\n
\n
answer is really no<\/div>\n<\/div>\n<\/div>\n
\n
\n
it got into the 70 cents once there and<\/div>\n<\/div>\n<\/div>\n
\n
\n
that was really<\/div>\n<\/div>\n<\/div>\n
\n
\n
it and then these 80s are holding and<\/div>\n<\/div>\n<\/div>\n
\n
\n
now right there<\/div>\n<\/div>\n<\/div>\n
\n
\n
makes a new low this should really break<\/div>\n<\/div>\n<\/div>\n
\n
\n
back down into like 35 20 into lows if<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s no<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s no buying but we’re right back<\/div>\n<\/div>\n<\/div>\n
\n
\n
into the 35 80s<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m thinking about starting in long here<\/div>\n<\/div>\n<\/div>\n
\n
\n
for reclaiming that 35 and see my first<\/div>\n<\/div>\n<\/div>\n
\n
\n
century is 35.95 but not my full size<\/div>\n<\/div>\n<\/div>\n
\n
\n
just a feeler<\/div>\n<\/div>\n<\/div>\n
\n
\n
i want to see it keep holding for<\/div>\n<\/div>\n<\/div>\n
\n
\n
another<\/div>\n<\/div>\n<\/div>\n
\n
\n
well 15 30 seconds just until that 36<\/div>\n<\/div>\n<\/div>\n
\n
\n
level picks up<\/div>\n<\/div>\n<\/div>\n
\n
\n
i add in double the size there at 35.98<\/div>\n<\/div>\n<\/div>\n
\n
\n
before we get over 36.<\/div>\n<\/div>\n<\/div>\n
\n
\n
so really just starting to build in here<\/div>\n<\/div>\n<\/div>\n
\n
\n
as i’m gaining confidence i’m just<\/div>\n<\/div>\n<\/div>\n
\n
\n
seeing this 36 area get defended<\/div>\n<\/div>\n<\/div>\n
\n
\n
when we get under it it’s not really<\/div>\n<\/div>\n<\/div>\n
\n
\n
breaking down<\/div>\n<\/div>\n<\/div>\n
\n
\n
still just spending time around that<\/div>\n<\/div>\n<\/div>\n
\n
\n
area<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then we just kind of get a hold and<\/div>\n<\/div>\n<\/div>\n
\n
\n
a slow break higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’ll show you our high a day break here<\/div>\n<\/div>\n<\/div>\n
\n
\n
break new high a day<\/div>\n<\/div>\n<\/div>\n
\n
\n
um i’ve sold a fourth of my shares into<\/div>\n<\/div>\n<\/div>\n
\n
\n
the high<\/div>\n<\/div>\n<\/div>\n
\n
\n
looking to hold the last three fourths<\/div>\n<\/div>\n<\/div>\n
\n
\n
into this 37<\/div>\n<\/div>\n<\/div>\n
\n
\n
and like 37 50 38<\/div>\n<\/div>\n<\/div>\n
\n
\n
like like if everything works a plus but<\/div>\n<\/div>\n<\/div>\n
\n
\n
realistically i’m gonna be getting out<\/div>\n<\/div>\n<\/div>\n
\n
\n
over 37 when i see the momentum really<\/div>\n<\/div>\n<\/div>\n
\n
\n
shifting<\/div>\n<\/div>\n<\/div>\n
\n
\n
um so that will be almost an atr move<\/div>\n<\/div>\n<\/div>\n
\n
\n
um you can see this breakout through<\/div>\n<\/div>\n<\/div>\n
\n
\n
high a day isn’t the like<\/div>\n<\/div>\n<\/div>\n
\n
\n
fastest breakout it’s still just bids<\/div>\n<\/div>\n<\/div>\n
\n
\n
stepping up slowly<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i want to see that trend continue um<\/div>\n<\/div>\n<\/div>\n
\n
\n
and when i kind of see that that pattern<\/div>\n<\/div>\n<\/div>\n
\n
\n
of breaking out<\/div>\n<\/div>\n<\/div>\n
\n
\n
change then that might be a reason to<\/div>\n<\/div>\n<\/div>\n
\n
\n
exit so i sold some into 37 there which<\/div>\n<\/div>\n<\/div>\n
\n
\n
is a psychological level and you can see<\/div>\n<\/div>\n<\/div>\n
\n
\n
the tape slowing there<\/div>\n<\/div>\n<\/div>\n
\n
\n
and there was an offer holding it there<\/div>\n<\/div>\n<\/div>\n
\n
\n
so getting down to half my shares<\/div>\n<\/div>\n<\/div>\n
\n
\n
knowing that 37 as well was the bottom<\/div>\n<\/div>\n<\/div>\n
\n
\n
of that pre-market<\/div>\n<\/div>\n<\/div>\n
\n
\n
or post-market channel and support<\/div>\n<\/div>\n<\/div>\n
\n
\n
so if short sellers want to come in<\/div>\n<\/div>\n<\/div>\n
\n
\n
from the pre-market that think this news<\/div>\n<\/div>\n<\/div>\n
\n
\n
is substantial that this should be<\/div>\n<\/div>\n<\/div>\n
\n
\n
more of a negative catalyst this could<\/div>\n<\/div>\n<\/div>\n
\n
\n
be their area to get involved<\/div>\n<\/div>\n<\/div>\n
\n
\n
so over 37 we stall again i take out a<\/div>\n<\/div>\n<\/div>\n
\n
\n
bit more<\/div>\n<\/div>\n<\/div>\n
\n
\n
getting down to my last fourth as i am<\/div>\n<\/div>\n<\/div>\n
\n
\n
seeing that momentum<\/div>\n<\/div>\n<\/div>\n
\n
\n
shift now um we’re getting back under<\/div>\n<\/div>\n<\/div>\n
\n
\n
37.<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then we’re going to keep grinding<\/div>\n<\/div>\n<\/div>\n
\n
\n
higher and i am holding my last fourth<\/div>\n<\/div>\n<\/div>\n
\n
\n
of shares<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m going to show you the reason to exit<\/div>\n<\/div>\n<\/div>\n
\n
\n
now<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that’s because we get a weak new<\/div>\n<\/div>\n<\/div>\n
\n
\n
high day break<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you can see we had a new high like 37<\/div>\n<\/div>\n<\/div>\n
\n
\n
40. we’re pulling back trying to hold<\/div>\n<\/div>\n<\/div>\n
\n
\n
this 37 area to make another new high<\/div>\n<\/div>\n<\/div>\n
\n
\n
and we’re going to see how weak this<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakout is through a new high<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re in the 30s you really expect it to<\/div>\n<\/div>\n<\/div>\n
\n
\n
go here it’s holding at the top of the<\/div>\n<\/div>\n<\/div>\n
\n
\n
range it’s getting pretty extended on<\/div>\n<\/div>\n<\/div>\n
\n
\n
the one minute so<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is going to break out it’s kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
kind of needs to get some real<\/div>\n<\/div>\n<\/div>\n
\n
\n
confirmation<\/div>\n<\/div>\n<\/div>\n
\n
\n
offers here stacked at 37.49 they’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
trying to decrement them<\/div>\n<\/div>\n<\/div>\n
\n
\n
they can’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
so that’s that’s a clear sign for me<\/div>\n<\/div>\n<\/div>\n
\n
\n
that i’m going to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
getting ready to exit and i took off<\/div>\n<\/div>\n<\/div>\n
\n
\n
another portion so now i’m just down to<\/div>\n<\/div>\n<\/div>\n
\n
\n
an<\/div>\n<\/div>\n<\/div>\n
\n
\n
eighth as i saw those people really come<\/div>\n<\/div>\n<\/div>\n
\n
\n
in<\/div>\n<\/div>\n<\/div>\n
\n
\n
into a new high a day and reject it and<\/div>\n<\/div>\n<\/div>\n
\n
\n
hold it down on the offer<\/div>\n<\/div>\n<\/div>\n
\n
\n
and the speed of the breakout was pretty<\/div>\n<\/div>\n<\/div>\n
\n
\n
shallow um<\/div>\n<\/div>\n<\/div>\n
\n
\n
and now we’re going to see my final exit<\/div>\n<\/div>\n<\/div>\n
\n
\n
when we break down through this 37 area<\/div>\n<\/div>\n<\/div>\n
\n
\n
which we’d kind of been holding when we<\/div>\n<\/div>\n<\/div>\n
\n
\n
saw before we just made that new high a<\/div>\n<\/div>\n<\/div>\n
\n
\n
day break<\/div>\n<\/div>\n<\/div>\n
\n
\n
so we’ll just skip ahead to there<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re going to see i’m going to say okay<\/div>\n<\/div>\n<\/div>\n
\n
\n
if i want to leave on a little portion<\/div>\n<\/div>\n<\/div>\n
\n
\n
probably needs to hold 37 and really<\/div>\n<\/div>\n<\/div>\n
\n
\n
keep up with momentum<\/div>\n<\/div>\n<\/div>\n
\n
\n
otherwise i’m expecting this to have the<\/div>\n<\/div>\n<\/div>\n
\n
\n
have the<\/div>\n<\/div>\n<\/div>\n
\n
\n
chance to pull back to 36.50 or even<\/div>\n<\/div>\n<\/div>\n
\n
\n
back to 36<\/div>\n<\/div>\n<\/div>\n
\n
\n
um as the volatility coming that comes<\/div>\n<\/div>\n<\/div>\n
\n
\n
out of the market<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re seeing moves get retraced a bit<\/div>\n<\/div>\n<\/div>\n
\n
\n
more often<\/div>\n<\/div>\n<\/div>\n
\n
\n
in the past month or two than we have<\/div>\n<\/div>\n<\/div>\n
\n
\n
say four or five<\/div>\n<\/div>\n<\/div>\n
\n
\n
six months ago so that’s been something<\/div>\n<\/div>\n<\/div>\n
\n
\n
to note and we break under that 37 level<\/div>\n<\/div>\n<\/div>\n
\n
\n
i take my final exit at 36.96<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then i’m just kind of hands off<\/div>\n<\/div>\n<\/div>\n
\n
\n
watching how this trends<\/div>\n<\/div>\n<\/div>\n
\n
\n
and like i said we could see a major<\/div>\n<\/div>\n<\/div>\n
\n
\n
pullback we could see a rebid<\/div>\n<\/div>\n<\/div>\n
\n
\n
kind of saw a pull back to that high the<\/div>\n<\/div>\n<\/div>\n
\n
\n
3650 they rebid<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then it just kind of chops around so<\/div>\n<\/div>\n<\/div>\n
\n
\n
glad not to<\/div>\n<\/div>\n<\/div>\n
\n
\n
mess with that because you can see it<\/div>\n<\/div>\n<\/div>\n
\n
\n
does retrace back to the middle of that<\/div>\n<\/div>\n<\/div>\n
\n
\n
range so<\/div>\n<\/div>\n<\/div>\n
\n
\n
noticing the momentum shift at the top<\/div>\n<\/div>\n<\/div>\n
\n
\n
can really save you an extra<\/div>\n<\/div>\n<\/div>\n
\n
\n
half a point a point on stocks like this<\/div>\n<\/div>\n<\/div>\n
\n
\n
that can<\/div>\n<\/div>\n<\/div>\n
\n
\n
just have outsized moves to both both<\/div>\n<\/div>\n<\/div>\n
\n
\n
both sides of the range you gotta really<\/div>\n<\/div>\n<\/div>\n
\n
\n
stay open-minded to how these breakouts<\/div>\n<\/div>\n<\/div>\n
\n
\n
react and<\/div>\n<\/div>\n<\/div>\n
\n
\n
where sellers could be stepping in to<\/div>\n<\/div>\n<\/div>\n
\n
\n
change that momentum<\/div>\n<\/div>\n<\/div>\n
\n
\n
so this is what the executions looked<\/div>\n<\/div>\n<\/div>\n
\n
\n
like on trader view<\/div>\n<\/div>\n<\/div>\n
\n
\n
um as you can see entry right below that<\/div>\n<\/div>\n<\/div>\n
\n
\n
36<\/div>\n<\/div>\n<\/div>\n
\n
\n
area which we watched on the breakout<\/div>\n<\/div>\n<\/div>\n
\n
\n
and on the pullback<\/div>\n<\/div>\n<\/div>\n
\n
\n
taking off a fourth into high a day in<\/div>\n<\/div>\n<\/div>\n
\n
\n
case we<\/div>\n<\/div>\n<\/div>\n
\n
\n
fail to make a new high a day that’s um<\/div>\n<\/div>\n<\/div>\n
\n
\n
often<\/div>\n<\/div>\n<\/div>\n
\n
\n
a pattern you can see take off another<\/div>\n<\/div>\n<\/div>\n
\n
\n
fourth<\/div>\n<\/div>\n<\/div>\n
\n
\n
into the new high a day when it slows<\/div>\n<\/div>\n<\/div>\n
\n
\n
again a bit more as it slows the<\/div>\n<\/div>\n<\/div>\n
\n
\n
momentum really comes out<\/div>\n<\/div>\n<\/div>\n
\n
\n
now i had a very minor add um a fifth of<\/div>\n<\/div>\n<\/div>\n
\n
\n
my regular size<\/div>\n<\/div>\n<\/div>\n
\n
\n
or no no sorry an eighth of my initial<\/div>\n<\/div>\n<\/div>\n
\n
\n
entry so pretty insignificant<\/div>\n<\/div>\n<\/div>\n
\n
\n
but just trying to think oh maybe if it<\/div>\n<\/div>\n<\/div>\n
\n
\n
does pull back hold that<\/div>\n<\/div>\n<\/div>\n
\n
\n
37 area but then you see just quickly<\/div>\n<\/div>\n<\/div>\n
\n
\n
gives out and i get out so that’s my big<\/div>\n<\/div>\n<\/div>\n
\n
\n
point of improvement on this trade is<\/div>\n<\/div>\n<\/div>\n
\n
\n
thankfully the ad was pretty<\/div>\n<\/div>\n<\/div>\n
\n
\n
insignificant in terms of p l<\/div>\n<\/div>\n<\/div>\n
\n
\n
but the principle of that ad and what<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m trying to build out is just not<\/div>\n<\/div>\n<\/div>\n
\n
\n
there<\/div>\n<\/div>\n<\/div>\n
\n
\n
um there’s no reason to be averaging up<\/div>\n<\/div>\n<\/div>\n
\n
\n
my price like that<\/div>\n<\/div>\n<\/div>\n
\n
\n
it was just much too aggressive to add<\/div>\n<\/div>\n<\/div>\n
\n
\n
up there<\/div>\n<\/div>\n<\/div>\n
\n
\n
since the meat of the second move had<\/div>\n<\/div>\n<\/div>\n
\n
\n
already been made because we had the<\/div>\n<\/div>\n<\/div>\n
\n
\n
opening drive<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then the continuation so to get even<\/div>\n<\/div>\n<\/div>\n
\n
\n
more continuation it’s really going to<\/div>\n<\/div>\n<\/div>\n
\n
\n
need some time and i even said could<\/div>\n<\/div>\n<\/div>\n
\n
\n
pull back that 36.50 area<\/div>\n<\/div>\n<\/div>\n
\n
\n
so if i had done that and waited for the<\/div>\n<\/div>\n<\/div>\n
\n
\n
next major breakout<\/div>\n<\/div>\n<\/div>\n
\n
\n
our next major pullback which happened<\/div>\n<\/div>\n<\/div>\n
\n
\n
at this 955 area<\/div>\n<\/div>\n<\/div>\n
\n
\n
where we kind of hold this first<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakout area this could have been a<\/div>\n<\/div>\n<\/div>\n
\n
\n
great<\/div>\n<\/div>\n<\/div>\n
\n
\n
value buying opportunity for a longer<\/div>\n<\/div>\n<\/div>\n
\n
\n
term trend on the day<\/div>\n<\/div>\n<\/div>\n
\n
\n
like a five minute pullback and take<\/div>\n<\/div>\n<\/div>\n
\n
\n
smaller size<\/div>\n<\/div>\n<\/div>\n
\n
\n
your risk to this 36 breakout area we<\/div>\n<\/div>\n<\/div>\n
\n
\n
saw<\/div>\n<\/div>\n<\/div>\n
\n
\n
or if you want to give it real like real<\/div>\n<\/div>\n<\/div>\n
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swing you could risk just a low a day<\/div>\n<\/div>\n<\/div>\n
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and search for four or five points um<\/div>\n<\/div>\n<\/div>\n
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so just thinking how i could have stayed<\/div>\n<\/div>\n<\/div>\n
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involved with the stock<\/div>\n<\/div>\n<\/div>\n
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how i could have used my prior tape<\/div>\n<\/div>\n<\/div>\n
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knowledge from trading it<\/div>\n<\/div>\n<\/div>\n
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to create more ideas throughout the day<\/div>\n<\/div>\n<\/div>\n
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we’re seeing more opportunity coming<\/div>\n<\/div>\n<\/div>\n
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later in the day now and these morning<\/div>\n<\/div>\n<\/div>\n
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sessions aren’t always the clearest<\/div>\n<\/div>\n<\/div>\n
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so really focusing on how i can become<\/div>\n<\/div>\n<\/div>\n
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more of an all day trader<\/div>\n<\/div>\n<\/div>\n
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and really build out my playbook with<\/div>\n<\/div>\n<\/div>\n
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different<\/div>\n<\/div>\n<\/div>\n
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types of trades in this lower volatility<\/div>\n<\/div>\n<\/div>\n
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environment i think will do me<\/div>\n<\/div>\n<\/div>\n
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really well in the long run so just<\/div>\n<\/div>\n<\/div>\n
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trying to really<\/div>\n<\/div>\n<\/div>\n
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make my trades more detailed be more<\/div>\n<\/div>\n<\/div>\n
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selective in what i’m taking<\/div>\n<\/div>\n<\/div>\n
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and hopefully being able to define my<\/div>\n<\/div>\n<\/div>\n
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criteria better because of that<\/div>\n<\/div>\n<\/div>\n
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hey go ahead and 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 and the<\/div>\n<\/div>\n<\/div>\n
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trading community and please<\/div>\n<\/div>\n<\/div>\n
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take the time to add your feedback in<\/div>\n<\/div>\n<\/div>\n
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the comments section for what videos<\/div>\n<\/div>\n<\/div>\n
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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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video from all of us at smb<\/div>\n<\/div>\n<\/div>\n
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train and trade well<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\"\"<\/a><\/p>\n

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

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