2022-02-16 Bookmap Live Stream - Stocks Order Flow Trading with JTrader
all right good morning traders and welcome to the bookmap advance webinar with jtrader stocks trader today uh we'll be live trading with jtrader it is in simulation uh a demo paper trading mode and strictly for educational purposes i'll go through that in just a minute uh just so uh it's to learn uh and um we do this every wednesday with jtrader and tomorrow we have live trading with scott pulsini uh a futures trader so do it two days every week so let's jump in here and go through the disclosures and get started you have jay trader's a contact information if you want to reach out to him he offers mentoring services etc general disclosure all bookmap limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations live trading is in simulation demo paper trading mode and strictly for educational purposes live trading executed in simulation cannot accurately represent realistic trading performance risk disclosure trading futures equities and digital currencies involve substantial risk of loss and is not suitable for all investors an investor could potentially lose all or more than the initial investment risk capital is money that can be lost without jeopardizing one's financial security nor lifestyle only risk capital should be used for trading and only those with sufficient risk capital should consider trading past performance is not necessarily indicative of future results okay so joseph will be in here soon uh can everyone hear me and see my screen just make sure that uh broadcasting correctly here if you could just type in a yes in the advanced advanced webinar so let's see uh yeah the link there is no link to the webinar here it is in the streaming uh room uh there mr whiskey writer so yeah check it out in there anyway i'll answer that question uh here in the voice channel okay all right guys well let's get started here jay trader comes in in a little bit uh he always comes in about 10 or 15 minutes uh later he's finishing up his trading room uh and um i want to uh tom will stream live today as well it's after the webinar though okay so uh typically uh uh look for him right after the webinar but uh you know he's scheduled at least 4 12 east coast time okay all right um all right let's take a look at the the market here and i hope you guys caught this move i saw this move saw the order flow in here i thought it was pretty easy read looking for this move down and this break of the channel here break through this 4440 area here and looking for continuation down to this high liquidity here hasn't gotten there quite yet it's come pretty close but not yet to 44.25 uh a few different things to look at in the read on this and i'll go over it in a second i just wanted to mention um and shout out uh to uh bowie uh yesterday and this um uh yeah i made the video recording here uh good morning david um the video recording about uh order flow and v app uh from yesterday so in fact let me let me show you where that is if you want to look for the recordings uh this is where you can find them okay on our youtube channel uh just scroll down a bit here uh go to bookmap search for bookmap on youtube you'll find it uh and then live streaming here uh and this is the one okay so uh uh it's uh uh titled here uh order flow v-wap and market structure and some this is exactly what we're looking at here in terms of a breakout we were looking for the breakout of the v-wap here v-wap was holding it down there was high liquidity here but we noticed that the volume coming in uh we're looking for the break of this 4450 to 55 and then 60 and then maybe 65 came pretty close to 65 but didn't didn't uh do anything more than that and this is where bowie is looking for the move and the tag back down to v up here so you know there's market structure in here uh this is um it v wap relates to it uh as well or maybe creates it uh doesn't matter there's trading around it here this is where we get the breakout this is where we got the retest where it broke out again here there's kind of a flag pattern or a breakout a little bit of a pullback and then a pretty strong breakout and then look at the pullback to it okay now let's also take a look at and you can see the structure in here and look at the break of it here break of the of this swing and this structure here uh and uh and and nice move to the downside okay so this is kind of a pivot line in here basically but it relates to view app okay so if you are a view app trader you like the v web great look for it to line up with order flow events in here and it lined up pretty nicely uh yesterday you can see this kind of really really important kind of break of it a breakout of it retest to it a break of it again and then everything underneath here again down below v wep but then another break of it here uh and then tested and bounced kind of back and forth off it and then the close is really kind of convoluted here on view app but it held you know rather nicely um you know the these these were kind of false breakdowns of it uh again like look at your market structure this is where it came to right this is where that pullback came to it came to here uh just line these things up with your um your higher time frame way of trading is is my suggestion uh and um or a consideration there uh that that's it um all right so let's look at the live market in here uh and before i do that let's do a little more market structure on the higher time frame uh daily chart here on the left hourly in the middle 15 minute here on the right uh you can see the again market structure holding pretty nicely here uh on this uh uh hourly chart uh the and the daily as well uh anyway like up to these kinds of swings up here this little swing here and then now we're breaking down a bit and then here's the 15 minute chart here this was our gap from uh the other day but um looking for that to fill now uh today uh here here come the sellers now uh there was a little gap this morning uh in regular trading hours you can see it right in here uh and it already filled it and then looking for the the if it this is why i thought it was an easy read due to this structure in here uh on the candlestick chart why this was an easy read to the downside uh was we filled the gap see a big wick and see another big wick here looking for the breakdown and and the follow through and still looking for further uh down to 44.20 all right so and we know there's high liquidity here at 25 right so it hasn't hasn't quite gotten to there yet became pretty pretty close so anyway that's where we're going to line up this and this understanding of market structure with this in here in book map all right so uh the um the back and forth and here high liquidity in here at 44 40. uh and then you can see them trade into it and through it uh back down to this high liquidity at 35 uh and also 30. okay so we're still bearish here we're outside of this range here we're looking for it to start to trend right now we have a double distribution here and looking for the move back down to 30 and then 25 okay so 20 was kind of our level but the high liquidity is here at 25. so again this is where
like you can use this to your advantage we're looking for 20 and maybe you would be on your candlestick chart as well and it might go there but the liquidity is here this is the game and they're adding more into the book as you can see it was kind of orange they're adding more here around that level and then it gets red in here as well so they're adding into this area here along with it all right how about some stops and icebergs considerations let's take a look here um and i was demoing this so i might i might have some yeah i need to kind of play with that a little bit that looks pretty good okay some icebergs still up here um another one trading right now it just got filled it got filled in and you can see the bump here in the in the sub chart here but it's not on the chart because i filtered it out okay so if you don't see it on the chart but you're getting the reading you know why is because of the filtering i'm using the filter here the automatic threshold here and it's looking at it has to be at least 616 in order to display here that's a little high maybe we'll bring it down a bit here and look at now 321 using the multiplier here and and i'm using 60 minutes here as well all right uh everyone can hear me right uh she seems to be yeah it's broadcasting correctly uh eighth trader i don't know why you don't have voice that's weird okay i i don't i don't know what what to tell you um it sounds like it's probably a sound setting or something all right so let's see this is getting a little slippery in here um we're still looking for the move down into this high liquidity here uh and the trending move um at least you know we're in a new range as you guys can see we had see retail sales this morning um and uh yeah sam sam says try try leaving well you're not going to be able to hear me anyway so yeah leave discord or rejoin uh restart discord all right uh so here's here's the breakdown here uh that we see pretty strong move uh continued here buyers coming in so we're seeing a little bit of market structure in here down here and then kind of a lift immediately back up uh and it's kind of bouncing around in here here's your view app as well curling back down and the view app is is actually pretty nice here it's aligned with a low volume node here as well as the where it broke from here right so we're looking for these sellers here they come they're already kind of at the bottom of the range here uh and yeah i'm looking for the move down here that's the primary scenario okay to this 25 area here now i i just imagine there's going to be some sort of shenanigans in here before we get there all right so we're going to keep an eye on it and look for something that really tells us so here's already a pullback to where it it just started to break a bit here okay and looking for the continuation it's a low volume pullback and looking for those sellers okay here they come let's see so anyway uh did you oh good morning uh joseph all right we're we're all we're all set then uh anyway guys uh we'll cover a low volume pullback another time we covered it in detail um last week or maybe two weeks ago uh great great setup here uh in fact j trader kind of does something similar uh using stocks in huge moves though and he's looking for low volume pullbacks to his moving averages so let's turn it over to joseph and let him him take it away here and i'll stop uh sharing my screen good morning bruce good morning everybody good morning bookmap traders good morning joseph how are you doing uh good buddy i'm just in a trade on spce so i will cover that when we start sure let's uh let's see here let me get to your go ahead and share can you see uh spc and uh book them up uh yes hold on yes excellent okay so welcome traders for another uh lesson so i'm actually uh trading spc uh spc yesterday had a lot of volatility and uh i'm just going to show you what happened so basically this pushed from 880 so it's a eight dollar stock but it's not a small cap it's a two billion dollar company uh they had news it pushed all the way up all the way up and we had a peak over here around 11 so from 8.8 until 11 uh we had one dip on the j line second dip on the j lens and you can see until the zone is basically uh blue over here aqua you don't want to look for a short then this morning i was uh not fast enough to trade this i saw some traders in the room they were calling this and i think they they got a very good because we popped just near the jaylens over here 1050 which is the spike that we've seen over here right uh this spike over here 1050 push and then we started to see some some unwind this one second traders i need to modify a few things we're going to put this okay like this and we're going to put also our sweep indicator all right so now we have also the sweep indicator on so we started to fill this j lines over here around 10 50. so perfect to the half little number and we started to unwind over here okay uh so you can see over here that now we don't have any more that blue magenta area but we have over here the pink magenta area sorry not the blue aqua area but the magenta we started to unwind on wine and wine and i was looking for a short into this zone but it was very choppy you see we go above the v web v up is this red one and then we fill and i didn't like really this price section over here so i was waiting for a main breakdown because i was seeing the stop and then right away down the stop right away down the stop right away down so i was looking for some kind of trend line and then i look at the bigger picture okay so always try to uh you know uh use a maybe five for 15-minute chart uh zoom out and start looking at the picture because if now i put a 15-minute chart you will see this ascending triangle and then over here we have the breakdown and i decided to short exactly that 10 19 so i'm short 10 19 right now and what i'm looking to do i'm looking basically to hold my position until we won't break this uh pink magenta line over here okay anybody is short today on uh spc e traders the point is you know to look only for that boom perfect trendline break and then you start looking for that unwind it's not really difficult and i'm looking to put order flow over here to give me the confirmation because right now you can see that okay on the chart we have the trendline break right but also i need to see that on on bookmap so i want to see also this and therefore that is my low risk entry right away over here we have a sweep goes down goes down over here i would imagine to see maybe another one on a wash until this low at this low i want to cover the first part of my trade okay so always analyze when we have buyers stepping in uh or like in this case all these magenta dots that are sellers so now let's continue to watch the the price section together here i think it will be interesting because this is has a live a lot of volatility uh there's a trader who traded much better than me over here was uh escoffred so i traded that jaylon rejection you can see uh short more covered the dip short cover short jalen rejection zealand i mean this is this is really perfect okay this is perfect so look to trade those patterns now we have near a previous support 995 and you can see over here 990 also the highest liquidity heat map around 44 000 yep so i want to cover partial you know before getting into that dip in order to lock in some profits it's already a decent move so we shorted this area 10 19 i was risking this side 10 33 so 14 cents now it's basically down over here uh 20 cents i want a little bit more when i cover down here so i have my two r 2r and i'm ready and i'm happy about it 997 i'm zooming in see some bars coming in i also like the tape house getting faster i'm gonna filter this we're gonna put this to four nine nine nine or maybe even 10k now maybe 5000 is is good yeah beautiful trade joseph thank you very simple you know very simple uh i'm having this uh week now i didn't calculate today but having this week 87 win rate and for the month above 80 so uh pretty good with a very good risk reward ratio uh the point for me is to select trade so not ready to trade every single thing that moves when i have stops to keep it very tight and then you know trying to hold my position because for me not covering anything is uh means um having patience and also looking for the correct risk reward if we don't let traders you know our wins our big winners to run you will cut too much and by that time that this will unwind you will reduce your rs so there's like a strategy when i want to trail okay it's not like you know i'm just holding because sometimes reverses and you don't get any kind of profit so you have to find like uh greeks used to say in media parties means you know the the right thing is in the middle so you have basically to let it run but later on also means to lock in when you have the uh say uh parameters the signals that tells you okay now it's time to lock in partial okay so good morning amar good morning alec morning tower vietnamese uh og that indicator is a preparatory indicator for a small cap room uh in this case uh small capital members uh yes some are we will check that uh i just wanted to cover at least partial on my trading spc e so over here we have two times this bounced uh and rejected over here the first time so careful over here to trade directly to the data and start looking for more like you know trend line break and then showing always use yes for this as well so let's look as pce spc very nice pattern over here very nice pattern 997 we are almost at 2r getting a 2 our zone over here all right so 996 i'll have on spce now traders let's look over here because they started to put some support you see 995 and then 990. so they're starting to build a wall of buyers over here right like a main liquidity zone right this is the demand zone and if we break 990 i would love to see still more unwind so let's check hourly chart we see over here the price next target possible target could be done here into the 945 this would be amazing for us and then down here to the eight this is spce 15 minutes hard so yeah you can see this uh um bear flag right breakdown so we should see more unwind over here we should see more on white let's see also lcid okay we have the nice juicy jayla rejection second one over here uh this morning i was trading also hook i took a good trade so i showed it up only the first time i showed it over here and then i covered partials uh i created sophie and i'm still short i showed this exactly over here shared in the room i trade with pedro so i cover first partial down here now i'm holding and then i shorted bkk t and i shorted down here bkk t covered over here and now waiting beer bkkt so bkkt over here could be interesting traders i'm gonna put this on book map so i'm watching bkkt very attentively all right so you can see decent buyers right now i'm gonna filter this at 499. so levels on the start we have a supply above this morning did a break out over here 850 so this is a breakout stock volume increasing you can see also here nice to see curl i'm not looking for now any trade unless this goes parabolic or into a high huge level of resistance of bookmap that's the point generally we'll tend to look at half double numbers hold on numbers and this is an extension play okay so very very hard to trade these if you don't have i would say order flow education knowledge and also some tape reading over here now eight ninety and nine nine is the main liquidity area so we'll look at nine and we'll continue to match manage over here spce look over here traders until i don't see sellers i'm not looking for any kind of seller here i know that you think wow this is high we can short it but you have to wait for that extension ideally into this night so again what i'm doing is my trading don't follow you're only here to learn okay this morning i had uh something like eight trades one was a scratch six were wins one was a stop so before i remember what we were talking about right the zone the zone over here is uh blue magenta blue sorry aqua is pushing so this is still like bullish this is bkkt so we're talking about a small market cap company and this company buddy look over here what it's doing in 50 minutes are so it's grinding every single day right and if you look over here the last few days we started to form a cup pattern with really an endle really this seems like coming out from the the chart pattern you know beginner technique technical analysis book breakout this morning we hear but i never buy on the breakouts because often what they can do they can push boom right away they stop they sell fake and trap now i'm more in this plan i show this morning in the room looking for a breakout then i retest and if i have these three tests and curls then i'm looking too long price is still grinding there's not a short over here currently over here the 885 you can see another buyer came 886 over here 7 000 and under 7 000. there we go so popping into this 890 let's look for that nine give yellow unwinding today so sorry i'm going to explain over here this is a screenshot that my wife sent and it's about nvidia and facebook and it's about how to read the price section then of course we need you know uh bookmap to to confirm this but i needed to spot over here how the price action works so when this bar opens this is uh even if you see red this is a bullish bar right it's red only because we are below the j lens over here so this is nvidia and this is facebook so when we dip and then start pushing this is like exhaustion selling and then what happens that over here we have buyers in control buyers in control and they start pushing it and you can see this grind the same thing over here so this was facebook and we opened this bar and then it dips so this bar if you look at uh with a five second chart because this is a one minute right or you look at with bookmark over here this is an andover okay so you will see like a cup pattern in this fraction over here and then you can start buying buying buying because these are often like fake washes or basically it's not really fake watches really somebody over here selling but is right away bought up so this is only to understand the price section i think is very important for everybody all right let's look over here we're going to that nine volume is uh yeah pretty low we are 100k per minute nothing crazy one of the two even this is good i want to see now a fast push over here to nine and then a stuff and only in that case scenario i will look to short this spc is bouncing traders so let's check this one second so we are looking for that main fade below 990. we show it at 10 19. we took the trendline break over here okay so we were taking this
trendline break came down broke of this 10 you can see sellers and then there were no more sellers over here 995 with you see the support held then they cancelled so they basically start moving up up and then also here are the buyers 10 10 now they're pushing they're trying to reverse the position so when i see something like this the remaining part get out don't be stubborn you already took your position you really think you took your trade your win that's it sophie i'm still holding so looking at bookmap it's very simple to spot the pattern over here uh when we are over here 1315 i said start looking for a stuffed uh movement in this case we had a top at 3 13 24. it pushed over here big soak at 13 25 26 and then from that level all unwind on here till 1270. some big high liquidity at 896 you see this level over here so we are below this 9ma this line that you see this green line over here is the one minute j lines no this is the 5 in 90 me right you can even even only use uh an anime traders right so fail not short let's check pittan hit and pop into the j lines let's see if we can get a short here i see more sellers over here the 55-56 i don't see big sellers for now on pitton so i'm waiting no short over here for me first main seller came so this is the first level of resistance you see this trying to stack 54.55 so shorter over here 54.55 with a very low risk could be a good one starting to look over here if we make a first lower low and i'm still looking for bkkt if it can push up to that nine so let's focus on bkkt first you see the buyers came back in dkkt breakout over here is pushing 897 899. there we are let's see if we're gonna break this nine and then we're gonna have a stuff
so this is how i'm looking at the trade right now only using bookmap we got the first rejection from this 899 not short yet thank you mar second tesla thank you jay on the second hit on over here so still up trending none a huge heat map you know that gives us a low risk level of entry sofi is also pushing so waiting for sophie at the previous high 1325 spc 1030 and we're still over here on bkkt micro support 888 if you break 88 expect to see a wash over here to the 879 my monitors over here watching bkkt the one you can see also was in netflix pit pittan tesla apple yes uh sophie uh spc so some stocks and also bitcoin so so big over here at the nine you can see this big dot right so this means soak there we are and soak means that basically they were uh absorbing in this case all the uh buyers they started to then dump uh buyers now we'll see if they're gonna hold this 880 support or they're gonna drop it you know like uh get away over here get exhaust and then we'll eventually drop into the previous support area which was this at 870 where we have yeah the first i would say decent support over here we have around uh 15 000 down here still trying to hold the price this a95 and md3 poor day 95 so they still don't want to dump this over here so our plan to look for a short for an extension to nine uh didn't take place therefore i'm not really pushing i'm stopping to watch this not really interesting for me right now i'm going to focus more on tesla which instead is having i would say a better pattern over here so when i trade tesla the first thing is that i'm looking as well at es and also in queue yes you can see it on the right up here so we'll put only two charts we'll put tesla above and es below bye joseph do you think um i mean you have such clarity in your setups and you know exactly what you're looking for um but i'm just wondering like as a trader uh when you started to really um you know make a lot of money was it what was the thing that you would attribute it to uh the most i would say confidence and uh conviction in sizing so basically uh when i had the stats uh so that i could see my setup uh working so journaling uh back testing uh looking at the different scenarios and how performs your strategy so all that gives you confidence you know you can you don't need to trade 10 years to do this you can even be a trader like with three four six months of experience but knowing how to back test to journal and already starting to create some sort of strategy that can give you uh confidence when you trade when you have the confidence so when you know how much you're gonna make or how much you're gonna lose when you have the setup how many times per average will you know come out during the the year the the week the month then you have an edge so having that edge you can start sizing and then you can start making money because you know for example you know you will make 55 win rate but you know when you when you win like three four times 34 r versus one hour stop then it's really gonna pay you a lot but doing this takes a lot of time so a lot of traders don't reach this level because they get uh frustrated before they think it's easy when it's not everybody wants to come to this job saying oh i'm gonna make millions i want to make meal list well first start considering to make 100 bucks a day if you can be consistent in that it means you have a good strategy and then nothing changes you know besides mentality emotions from making 100 a day to make like 10k a day so really there's not the big difference there's bigger difference in experience in how you manage yourself and how you can control yourself because as you know uh our ego ourselves can be a double sword edge can work with us so make us improve faster but also can be something that obstacles us and basically works against us so this is what i think ruse at least this was my my experience in this yeah great great answer uh thank you you're welcome so look over here traders uh why i'm have over here yes and tesla together so i'm going to do a little bit of a parenthesis over here this is a five-minute chart but the same chart i can spot it with the 50 minutes or with one win i don't really need to necessarily trade a five-minute chart so this is a normal j lines which is a 14 and 17 right if you go to put this on a one-minute chart this would be 72 and 89. this is a three-minute j-lines so it's a slower version of this and this is the even slower j lens which is a normal 70-89 on a five-minute chart weights on a one-minute start will be 360 and 445. now if i look at tesla i don't need necessarily to look at tesla you can see over here the guide being yes all morning this is the 930 and you can see the pop and feel over here on tesla fading all the way down the same thing over here sorry tesla fading all the way down the same thing over here yes so now tesla is bouncing and yes over here is trying to bounce therefore i'm not really looking anymore for short okay if you said we would have been uh seeing trend line break and then the price over here fading that was exactly like we had spc before okay twitters all right so now let's look also at sophie being that tesla is reversing over here so sophie has this high around 1330 actually this morning sophie we have a main resistance 1320. let's see if we can push this 13 20 and stuff and then looking too short again buyers are in look at this tape majority of these are buyers so we see like uh two thirds green over here times and sales versus the the sellers and you can see over here the price got to this j line jaylen started to curl push over here this could be interesting on an extension place short ideally this 1325 1330 so looking for a move over here this level 13 25 30 stuff and then looking for a short and something like this can pay you very much because over here before we shorter 13 19 and i went to 1280 even lower at 12 so it's like a 50 cents move so this is a main level of liquidity 1320 corresponds to my level of golden zone over here 1320 you can see on a five minute chart each bar is making a higher low some sellers around 13 14 13 13 but it's still not my level too short because i was sure something like this only if we prove that lungs are trapped that lungs are basically exhausted in the meantime traders netflix z line rejection pitton curling and pushing best sellers 13 12 13 10. so recap of what we're doing this morning i'm gonna put over here spc so you can understand uh the trade with duck we're gonna make this smaller so we can focus a little bit more on bookmap okay so that's the trend line i was looking on spc all right and i was looking for a main pattern called jlam rejection in this case if you are fast enough with the gate you can trade the pop and feel over here the gate and look up for a short around 10 40 10 45. this is a perfect short from our jalen's at the open
called pop and feel in a tray like this guarantees basically almost 50 cents per share a lot of top over here you can see a book map we had a lot of pushes washes pushes washes so i didn't like the price section over here and i stood away and i started looking how it works together with the chart pattern so we had our ascending triangle in this case with the breakdown i showed over here and we can see on bookmark this uh breakdown short over here cover over here and then the remaining eye cover over here just when it starts to reclaim this 90 me so this red line that you see over here on this chart is an anime and you can see the price started basically reclaiming and pushing over here so that is for spce uh the second one yeah joseph that's a that's a beautiful uh chart there uh and a lot of help there with the heat map uh on down there um yeah into high liquidity there and then they're still on the bid underneath it you know exactly exactly and what's nice to see how they moved from this level over here up and then more up because over here we can see trader that we had a decent buyer right he was placed over here and then when he didn't get filled basically only partially got filler here because we can see the dip below then he moved over here and then maybe it was him that moved over here but we can see a reversal right a reversal over here of the scenario and then they started to push up again now we are rejecting from this level of liquidity around 10 45 but we are near the open level uh and i'm not really looking to trade this for now okay so i need to wait a little bit i'm not looking through this right now uh bkkt was the second one i was watching and uh we saw a push into this main liquidity area i saw a trade over here uh one of the guys in in the room the shirt exactly that pop we're looking at the nine dollar pop over here and he took the fade so good trade uh personally i didn't take it i was uh i was waiting for more i would say a little bit more push and then unwind so i want to really to see the lungs exhausted and over here we have the big soak because they trade over here decent amount of size then i start to fade and is this bar over here and then you can see where we dumped into the first one minute jayla's tesla so over here so tesla you can see morning fade the best eight plus setup scenario over here today on tesla happens in the first few minutes of the gate in the first five minutes i would say you can see the price pops goes above j lines come back below this year over here 9 15 and 60 9 15 this is your aerative short which is this area over here then you apply your stuff above 9 17 and 50 and beautiful and wide over here okay i missed this morning tesla i missed this trade um i had others uh i would say in uh on my screens this i had like another screen and didn't pay attention so i missed this trade on tesla so no profit for me and now i'm simply waiting sidelines until i will have the next uh a plus setup to trade uh yeah so z the clouds on j line represent the one and three and the five minutes exactly then we add hook again i shared all these trades and called them live and explained why we took it in the room but this was a i would say a pretty good example of a setup that you can see up here is written gap and extension we showed this white line and when we showed that we are looking for a fast fail so you can see the open over here up and fail and then even if you see buyers over here in the first part of the move right then the second part of the move we start to see sellers over here and then we see some buyers and then against sellers so the prices on wine is forming lower highs lower lows no reason for me too long you can see again more sellers and then they started to reclaim and push it until the 215. now they're pushing it again so why you think this stock traders with the fluff news a very bad uh daily chart with huge amount of dilution is pushing okay uh basically it's pushing because we have a high institution ownership so when stocks have a high situation ownership they tend to really i would say trap traders so that's the reason why i never buy and support uh never buy on the breakout story i always buy on the dips or in a pullback 211 over here look over here 210 to 11. this is your breakout why i tell you it's a breakout why i tell you this is a pullback because the price goes up dips over here near the 90 may inside bar we have a wedge uh or in this case that wedge small wedge or a pennant and that is pushing up so break over here what i'm waiting the price probably to go to 18 220. 215 still pushing you can see that we don't see sellers over here right still pushing strong so buyers right now are in control there we are they put a support to 11. break down the support some sellers over here you see 211 210 now even 209 now it's rejected as a double top still holding this previous support 206207 which is this level over here on the chart breakdown on tesla this is a good breakdown the fact is that you can see the distribution pattern so often you will see in the market when it starts making very high lower lows you start looking for this kind of pattern right so same lows and then lower highs over here nice breakdown there's simply no rains over here there's no reason to trade tesla i will never trade tesla in some kind of scenario like this nonsense really nonsense you want to trade tesla when you have an uptrend like this right and does this seem look this trend okay does this seem the same thing that we're having right now traders absolutely not right now we are the same open level of before we are lateral we are sideways there's no way we can trade this therefore as a trader you won't find every single day opportunities to make money right uh well actually we do but the point is you have to have patience if there's nothing to trade i won't trade okay don't be stubborn don't be stubborn so simply waiting on tesla over here apple the same thing nvidia the same thing over here we had ba bouncing until doesn't break 220 i'm not looking to trade this baba bouncing over here until breaks the high of the day 127.50 and not looking to trade let's look at sophie what it's just pushing and sophie has a previous high 13 20 13 30 par done 13 30 over here so sophie my beer yeah i thought bruce was probably drinking a coffee but she's not so did you get a fancy coffee machine in there or not well pretty good pretty good okay all right that's important yes absolutely for a trader it's a must traders look over here it's going up and i'm looking this 25 30 stuff now if it happens the stuff this is recorded so we can watch this together again i think could be a very good uh useful tool to understand how stuff happens and what i'm looking for is the break of the 25 right away boom slam dunk or a break of this dirty boom down why i'm looking those two levels because those are two most important levels on the chart they are the pre-market high level sorry that high of the day level that's the point and because i lost on snap otherwise was good i'm looking over here traders at the 25 having patience not starting to scale in i know how this extension work pretty good so i don't underestimate them i'm waiting for only the setup that i want otherwise nothing very slow over here still holding this 9ma to this green zone over here 18 over here now seller came at 13 20. careful because we could see a wash more seller 17 more
seller 16 so you can see how it's going down and how at each level we have more sellers so hook went to this previous i215 small unwind sophie i'm still waiting spc nothing for now nice to do support over here uh bkkt uh high institutional ownership let me see or was a small one this because when we have high institutional ownership traders it basically gonna tend to hold more so i'm gonna check it one second this is our extended play so multi-day runner bkkt uh 36 percent institutional okay so 36 medium institutional ownership level okay still lateral sophie still not the high joseph we have a question here about um you know any of your favorite books uh on trading top two or three definitely uh the ones of uh mark v nervini also a friend of mine uh those are great a great trader uh great for mentality as well so that definitely is what i suggest you uh i like also let me see what was over here more than about techniques you know because techniques basically i think it's uh the best stuff you can find at least for how we trade in a room it's about for me mentality it's for me about discipline it's for me about the formation of a traitor not only on the technical point of view but also under say the psychological point of view all right some of the books that i prefer uh let me see over here was put in this yeah one is of course mark douglas and how to think like a professional trader that is i would say something that you should all uh you should all read and and uh i think it's pretty good uh and then even some stuff from stephen goldstein which i had a podcast a few weeks ago he's a coach for traders entrepreneurs and we go over the the skills that a trader needs to have mentally and i would say also yeah more more mentally than anything else because you know a setup a strategy you can learn in one two three even four months uh doesn't need a lifetime but then you have to work on yourself a lot that's the most difficult thing of a trader so you have to have a good mindset you have to have discipline you have to have like discipline in the sense that you are not afraid to take losses so you have to accept also these red days uh so these for me are the things that you should do then as i say i'm really like um honest it's about the experience that you do in the market more than reading the books because books are so nice you know everything is painted so great over there but when you are have already a great community like we're shooting things today over here or you can like give your feedback already that is more than you can find in a book so over here sophie this is an example for me of discipline because there are already two three times that i would have traded this first i would have traded long but i'm not trading this long because this company is disgusting uh shitty if i can say this and uh i'm not really looking through something like this long i mean look this what it did i'm not looking to a tesla okay i love to trade tesla apple i love to log but not really something like this over here um if it had really such a beautiful amazing news and fantastic fundamentals okay yes but over here i wanted to trade a couple of times short on the stuff and then i want to show it over here in the stuff but i still waited because i'm waiting as i said this 13 25 13 30 which are the high of day okay now maybe it won't go anymore there it's fine but i i'm still respecting my plan okay that's the most important thing for me i want to see one second snap so still lateral facebook have to drop this morning so lateral a mu lateral over here piton lateral so i'm not really interested in that netflix maybe that most interesting one below the previous day low breakdown over here so netflix is the one to follow for me in the afternoon yeah this is the hourly chart we have a main support over here around 383 and 80. below the support next target over here 390 and then over here 384 35 yep uh netflix definitely is on my watch list for the afternoon and i'm gonna explain yeah thank you mark i will just check now but i uh what i'm going to trade over here is exactly this so if you have your is this this is what i'm looking to trade this is what i'm looking for that's it this is what i'm looking on netflix so not very difficult trendline break as well so online break as well so this is exactly my plan that i'm spotting on that i want to to wait for on netflix nothing else let's check on tesla i want to see also the order flow so tesla is unwinding but we are still above this um previous main support 907 so i'm waiting nice wash over here probably the sweep indicator would have worked okay traders we have the remaining five minutes uh any questions no it's pretty pretty quiet in here uh our ammar is talking about the tesla breakdown uh with the nq uh yes the only thing buddy careful because we are above that hourly jail is okay at nine zero three so careful for that now we still have like some range before was the important support nine three zero three nine zero four yeah could become an interesting trade could become an interesting trade a trend line break over here oh let me check yeah i'm definitely going to watch over here tesla ford afternoon yes but careful this nine zero three nine zero four main level of support yeah godzilla are perfect are these indicators but have a j lines is just having a 72 89 exponential moving average uh these numbers are from the uh fibonacci expansion code so i've been using them since 2003 2004 and uh uh then also you can use on other time frames with other i would say parameters but the most important thing is that for now you look for a 7289 for example this is sorry this is an easy way to spot things and we can see over here at the open we have the perfect jaylin rejection tesla too short then we had a second one and then over here nothing for me because i'm looking for more pattern so now we can look if we're gonna have another pattern over here right so let's start seeing something for example on sophie uh when we took this short up here look where it went the main j lines over here and then started a recurl and gave us a long entry of course jaina's like this means nothing you'll have more losses and wins but jalen is using our strategy that i teach uh you will have a very powerful strategy so some selling over here on sophie now back to the day lines all right traders if we don't have any more questions we can wrap it up over here for the day so it was a good morning uh some good opportunities spc was the best one i hope you enjoyed it bruce you want to add anything else no no great uh great webinar uh thank you joseph uh and uh uh yeah let's let's wrap it up and uh we'll do it again next week next wednesday okay twitter so in the meantime take care always write to bruce 24 7 is always available and uh uh let's let's see lewis over here i think he has a question sorry before you go how could how do you choose the list of stocks you look at okay so for big caps i always look for the i would say 30 40 uh stock that i have my list and in that case i start looking at the direction if it's inside the previous day range or it's on a breakout or a breakdown so i'm looking mostly for spot of volatility and instead for small caps or even mid caps i start looking for the main gappers and the main gappers with at least 20 percent gap uh with at least half a million volume uh traded and then i started looking to do my forecast which is a precise i would say um way that i define if a stock is going to be on my watch list for a short or for a long it's a little bit more complex than this i mean we would need to take like a couple of hours to explain this but this is basically what i do plus i have bitcoin every single day in futures that i trade uh no i don't really like the script screener on toss or ib for for the gaps you can simply look at any single broker having those parameters or for example i use personally at sutray which is the app for our community for our small cap room and it's very very simple so just look at the gappers the volume half a million plus and twenty percent at least of gap you don't want to trade something that maybe is forty percent fifty percent gap but there is no liquidity in that case it will be you and the market maker and if you have like a stop you will pay a huge amount in terms of spread so that will be a big loss liquidity is very very important that tells you that you have you know another side where you can sell you know supply and demand always shift that's very very important let's see over here lewis what else is saying uh do you usually hours on the market ninety percent body always limit orders but be aware that if you use limit orders when you have a squeeze or a big wash you will probably get filled so experience told me that you always need a hotkey or you know an emergency key that in case something goes wrong you get out very fast with the market order because the wise let's say that you wait for a breakdown to get out it's not only you but you and maybe other you know one thousand traders that are spotting for example that level as support as their stop-loss level and also you have hunters hunters of stop-loss who are market makers who can be algorithmic program in order to go like or say study your behavior and then know how the human being over here behaves that retail trader behaves okay so hope this traders is uh you know starting to get simple for you you can read better the price section uh if you have any doubt or questions reach out my email is team daytraderco.com also want to edit something we're gonna have a promo for uh the president day uh for the room and we never reach out anybody on ig or twitter or anything else so these are all like fake accounts of people trying to uh you know rob your money so we never reach out to anybody okay so don't really answer to anybody that is not j trader co that's it thank you very much traders see you next week thank you bruce and everybody all right thank you joseph bye bye bye
2022-02-21 07:54
