[07/24/2018] Trading Recap: Finished yesterday
Hey. What's going on everybody this is flu el traitor Jeff author, of the book trading. Part-time, today, is Tuesday. July. 24th. And welcome, to. The full show. Alright, everybody welcome. To the show, exciting. We're. Gonna start doing things a little bit differently everybody, from, now on what we're gonna do is this show is gonna be available on, the blog so, if you're watching this show right, now you. Are at my blog it's still gonna be free, but. From now on you're, gonna have to watch this, show, from. My. Blog. Okay, trading part-time dot-com, and then, just go to market, analysis, right daily. Market analysis, or trading part-time calm back slash daily market analysis, this, way again it's still free but you're not to go catch down to the site alright big, day another. Exciting, day, I love, the market, I love everything that's going on about it without. Further ado, let's. Take a look and see what we did today. Okay. Well. Yesterday as you know we did seven, thousand, seven. Hundred and four dollars and, 33. Cents, today. Two. Thousand. Six. Hundred eleven. Dollars and forty six cents, two, thousand, six, hundred eleven. Dollars and forty six cents so if we take that. Two. Thousand six hundred eleven, forty six plus, seven. Thousand, seven hundred and four, that's. Ten. Thousand. Three. Hundred and fifteen. Dollars and, seventy. Nine cents, in. Two, days where. Are we're only at Tuesday. And, we've already made ten. Thousand. Dollars, in two days that's. What I'm talking about everybody that's. What trading is all about that's, what knowing, what you're doing and putting yourself in the right. At the right time can do for you okay. Super. Exciting, stuff super. Super. Super, exciting stuff okay so what we're gonna do is we're gonna switch. To the paper-money, platform by, TD Ameritrade, we're also gonna look to see how Bitcoin did today as, well as aetherium so what I'm gonna do right now is, I'm, actually going, to pull. Up. I'm. Gonna pull up and let's, start off by looking at Bitcoin, what I got to do is I got to go to the trading view, so, it's trading view dot-com, right that's, the chart that I'm looking at and so. What we're gonna do is oh, like. This those are in Bitcoin. All. Right let's pull Bitcoin, up, so. Here we go everybody oh my. Goodness. Everybody. Bitcoin. Is on. Fire. We. Called it we, called it, we, called it, okay so. The reality is I. Pointed. Out this. Inverted. Head, and triangle, pattern I pointed, it out I did.
Go Back and watch the shows right. Here I pointed. This out and, I told you it broke that neckline, and look we've been off to the races so, we're at, 8,000. Bitcoin is trading, at 8,000. I'm gonna write that down because. Bitcoin. 8,000. 213. Up. 6.4%. I. Pointed. It out right, all you got to do is watch the show so I broke the neckline now if you're not a Bitcoin, it's, too late okay, I told you our price targets up here at nine thousand. Eight hundred and sixty-three, now. We don't expect it to go all the way like. Straight, up but. The reality is we could get several, bull flags along the way but the key is guys I pointed, out this pattern, over. A week, and a half ago and I told you this was a reversal, pattern on Bitcoin right so. Let me take a look at a theory I'm not a theory 'im has, been weaker. Compared, to Bitcoin over, the last couple days so let's go over here okay let's see how aetherium did today, bitcoin, was powerful, hey it, was up okay, good, now, if, you notice, here I told you, we had what's called a, W. Bottom, reversal. Pattern on aetherium this is our crypto currencies, okay and oh, by the way anybody. Out there who. Would like. To earn some extra income. Learning. How to invest in. Crypto currencies, in crypto. Mining, and. Trading. Of crypto currency so if you'd like to make some additional income then. What I want you to do is just, message. Me, it's a trading part-time. Facebook. Page, there's. A place send me a message send. Me a message if you're interested. In learning, about, investing. Crypto currency, trading. Crypto currency and crypto. Mining. So go to my facebook. Page trading. Part-time, my, fanpage, send. Me a message, through, there, and I will get back to you okay okay. So the big thing is this is our W by all these messages popping up everywhere I told you this isn't our tourney package but we, had this beautiful. Double bottom W pattern it, broke through the resistance, and fell back down it's. Been going sideways but, today, boom. We, were up and that balls good because. We. Mine. Aetherium. So. Aetherium was actually, up. 5.3. 9%. Boom. So let me see, Bitcoin. Up, 6.4%. Well. Six point four seven nine trades, okay. And, then if theory um five. Point, three, nine, percent. Alright and writing that down, beautiful. Beautiful and then bitcoin, is at where was Bitcoin at eight. Thousand. Two hundred and nineteen. So. It's an eight thousand. Two hundred nineteen, and the theory, in was at four, hundred, and seventy three, BAM. Okay. That's, a beautiful reversal. If momentum, continues, tomorrow, breaks. Through that neckline just, like Bitcoin we, could be off to. The races so when I back it out. Again. This isn't my charting package but right there. This, would be our price target, all, the way back up to here to around eight hundred dollars. A coin. Beautiful. Beautiful, beautiful okay, and again we, were up a come turbo, how much will we up again today I wrote. It down someone. Write. Out and make sure we were up today two. Thousand. Six. Hundred. Eleven. Dollars and. Forty. Six cents, over thirteen, thousand. In two days, beautiful, beautiful beautiful okay and again if, you want to make some extra income learn. How to invest in cryptocurrency, and learn how to trade cryptocurrency as well as a mining then go to my facebook, page trading, part-time the, trick part-time Facebook page send. Me a message all. Right cool. Looking good so now what we're gonna do is we're gonna take a look at the market we're gonna see how our market did as well as the forex, market so we're gonna pull up the paper money platform by TD Ameritrade okay. So. What. We're gonna start off with is we. Are going to start off with the foreign, exchange market. Which is the forex. Market okay so, what we're looking at right now is the euro. United. States dollar, okay. I like it better on this chart okay. As you know we've, been in, this trade for a while today. Still. Not doing too much right we got in this trade. I'm gonna train a month, ago we're. Still positive cuz, it's up but, it's not doing, too much, what we would like to see, happen, is, we. Would like to see, this sucker breakthrough. Let me make this chart bigger so you guys can see there okay. Well. We would like to see happen is it break. Through, that resistance. Okay braids do that resistance, take.
Off The races we're in a sideways, channel, okay so again. Unless. You're trading intraday. Now's. Not the time to get into this trade but what you could do is a sell, a, limit. Order up here so, price comes up here, triggers. Your order can. It rolls over you. Can get paid bank or you can put what's called a, a limit, order down. Here, okay, so, right now is now is not one at a time the main thing is today the euro and, the dollar are. Pretty much, flat. The, New Zealand dollar, United. States dollar I'm, only gonna look at a couple because I have a Forex class and I go live in my forex group and we, analyze all these but I just wanted to give some you guys a taste, the main thing is with the foreign exchange market, it's, the it's, the biggest market in the world it's, that biggest, financial market, in the world the, most highly leveraged. What I mean by that is you can take a small amount of money and make, it a large amount of money okay so what we got happening down here is a potential, W, bottom. Reversal. Pattern what, I would like to see it happen right here though is, a close. I. Want. To see price. Get. Out of, this little bottom, and close. Above here, if it breaks, this. Line, and closes. Above the resistance, that. Would be an area to get into it okay so any, of you watching right now that are in my forex class, that's. What we're looking for guys and you should know that because I'm, talking. About it all the time, let's. Take a look at the aussie united. States daughter this is the Australian. Dollar versus. The United, States are very similar as well okay I mean all. These versus the dollar look very, similar. Right now they're all in a channel, so, I'm making all my lines, because, again, I'm waiting, for it. Closed. Above. This area or I could put a buy limit down here, okay I have, my choice I could go a buy limit down here, sell. Limit up here or, a buy stop you have no, idea what I'm talking about, we have it Forex masterclass that you could join for free for, seven days and I go into this stuff in detail because, this market is beautiful, okay so. The Euro let me go back to that real quick the euro United States dollar, kind. Of flat Australian. Flat New Zealand flat Bitcoin, off. To the races yeah. They're. All pretty much looking the same okay, so, again. You could do several, order. Types here, okay and that's what we do we just plays a whole bunch of orders and we see which one fills but, we don't just place orders to place orders okay. So. Like right here, is. This is what we could do we could put a buy, stop if. It closes. We. Could do a sell. Limit that. Means we wanted to come up here roll down or we could do a buy limit down here show three possible. Ways okay, so, now let's take a look at our United, States market okay so the, strongest, index on the day was the Dow Jones 30. And it was up. 197. Points, interesting. Cuz yesterday I think, it was the only index that was down but. Today we got a bounce a huge, bounce off of this flag it's. Not a bull flag because it's not an uptrend but it is a flag, okay.
But, Since its if you didn't get in today its. Now's. Not the time okay we got resistance, right up here so what we want to see happen is we want to see what happens when price reacts, to. This resistance, area is it gonna break through or, is it gonna roll over we don't know but the only thing we do know is if. You enter, today, you could have got in today but you would have had to have got in early, because momentum was, strong so. What you would have done was that's my phone, you would have got into the DIA. And, you, would have had to have got into it early. Because. Momentum was, strong if you didn't get into it now, it's not the time but again. 195. Points today, it's. Beautiful sort of now. Of. 195. Sweet. The. Next strongest index, was the S&P, 500, it was up 13, points. 0.48%. Okay. So, 13, points, for 8%. Right. Honest up down again. Look. To see what happened guys we broke through the resistance, we, pulled back so, you could have got it right here with a half a position, we talked about that all the time half, a position on the breakout and then. When price pulls, back, you. Can enter the second, now, what, have happened today was, price gapped up so, if you would have got into it you would have had to have got into a right there okay but again it was a bounce entry. Off a bull, flag, okay. And I was up strong, today, so. Actually. Let's check out to see what it did if it broke resistance, okay. So, it actually broke resistance. So today was not only a bounce but it was also a break out so you could have taken either a bounce, trade, or you, could have taken the breakout, trade either, one, of those it broke through, the resistance. Area today. Today, was a valid, entry and. You guys know from watching this show you would trade the SP. Y so. Let's go take a look at the third strongest which was the Nasdaq. 100. Alright, again very. Similar picture to the S&P 500, we, broke through resistance. Floated. Sideways, pulled. Back today. Was a balanced entry, now. One. Thing I do want to point out, okay. You know let me go to the. Instrument, the qqq's. So let's take a look already at my line see this is what we look at guys so, the cute cute cute today, was it bounced but this is what I really want to point out today was a, intraday. It broke, through the resistance, okay and broke through, the resistance. Now price. Fell, back down below the resistance so you could, place. A second. Breakout. Entry, order into. This position tomorrow, you. Follow your rules for the exact. The. Exact, price and again. If you're in my master, class you, know what that exact, price for, us is but. What you could do is put a buy. Stop. Order. That. If price bounces, back, up tomorrow through, the resistance, it can trigger your entry and these, are some of the best trades to get in okay but, the key is guys it fell, back below, resistance so. You can, still, enter. Into a breakout. If it bounces, tomorrow. Now. Weakest. Index, and it was actually down, okay. And it was down pretty, big, the. Russell 2000. Was down. 18. Points. One. Point zero seven.
Percent. That's, huge we had three up you know what I'm gonna do let's go to the market watch real quick, let's, go to the Russell, - let's see which was the weakest, stock in the, Russell 2000. What brought down that day and Russell 2000, today. Give. It a couple minutes I'm getting at 2000. Socks okay. Okay. In V ro. In. V ro was, down 26. Percent let's gonna take a look at in V ro this. Was the weakest, stock in the, Russell 2000, it was down 15. Points it's called never. Corporation. Look. At this massive, red, candle, see one of the things that you can do guys if, you're able to look at the market, throughout, the day if you, have this platform that I have you can actually. Pull. Up either, sectors. Indexes. Whatever, it'll tell you what's happening for the day for example, the. Strongest, one on the day was in I HD. Of 24, percent in, IH d ni, HD which is n I I Holdings. Okay, was. Up huge, it was a 24. Percent so. The other one was down 24. Percent or 26, this was up see, this is what you can do if you're trying to decide on which stocks, to trade then. This is one way to do it okay you can just basically pull, up. Let's. Go to the dow jones 30 the. Dow Jones Industrial, Average okay, it's only 30 stocks but the strongest, stock today was UT x UT. X was. The strongest, stock in the. Dow Jones oh gosh, let, me write that down. UT. X. Was. Up. Three. Point seven six, percent. Four, point, eight huge. It. Was the strongest, stock. In. The Dow okay, and look at that look, at that this is beautiful, broke through. This is a textbook, guys. This is what we talk about all the time hopefully. You're paying attention we broke through resistance, here you could have got in a half position we always talk about that and then we say that 70%, of the stocks will pull back and test. The, breakout area and then if that happens we can enter the other half look what happened but. Right now, it. Could have got into it again so, you could have got in the breakout half position, and you, could have got in today. That's. Kind of bad you could have got in today for. The other app and you would be cleaning. Up. This. Is how you trade guys this. Is how you make money now you need to educate yourself and, understand what's going on but, again I'm giving you this every day and I'm doing it for free yeah it's on the blog now so what you, know again I provide a lot of stuff on this blog articles, my podcast, my trader talks, tons. Of stuff from my blog and it's free ok, so, that's kind of just a little analogy of how to find it the weakest doc was Nike, Nike. Was. The weakest, today in the Dow looking at I was down today, and. It broke through. Support. So, today was a breakout. A bearish. Breakout, trade ok but, anyway so, we had the Dow Jones 30, was the strongest, Index Nike, was the weakest, stock in the Dow UTX. Was the strong stock, in the Dow then. We had the SP, 500 the, Nasdaq, 100 followed. By the Russell, 2000. The. Strongest, sector, on the day was basic, materials, now, it's been going sideways we've, already got in basic, materials, a while back you know that but, today it was good for us it, bounced, a little bit so again we're just hoping that it gets out of this sideways, mess but we're in xlb. Basic. Materials, and we're waiting, to. See if it gets out of this channel, either to the downside, or the end but work in it right now it's, not doing too much but hey at, least we're not losing. It's, exactly, the same with the energy we got an energy sector. 622. Now. I have my entry, order here that you could do what's called a sell, limit order. I'm, gonna erase that I think I was demonstrating that today classes. Main, thing is look it's just sideways, okay, for the last like. Two months it's been going, sideways, we don't like sideways, unless we're gonna do an option, trade if, you know how to trade a credit, vertical, spread, then. You can do that because those strategies, are beautiful. For sideways, strategies, look, I don't care if the market goes up down. Or, sideways it means nothing to me if the markets going up I know how to trade up if, the markets going down I know how to trade down if the markets going sideways.
I Have strategies, that can take advantage of that - when, you know what you're doing it doesn't matter all we've got to do is make our assumptions. On which direction we, believe it's gonna go and we do that based, on the technicals, energy. Was up, today, which was good because we are in it. Healthcare. Now. I had, my order, here the other day yesterday. I, told you, conditional. Order if. It breaks due resistance. And today, it, broke, through, resistance, half. A position, in. The. Healthcare space, ok so, again what we're looking for is a couple continuation. To the bullish side and, then, we would like to see it roll, back over and test. This, area, and if it does that we're. Gonna enter that bull flag in a half a position, so, right now we took the first half, we're. Waiting, to see if we can enter, into the, next. Technology. Same. Thing today we had our entry. To get into, technology, right. Here. Okay. Half. A position, so, again what we're gonna like is exactly, the same we want to say a couple of days of bullishness I would, love to see it then roll over test. This area so I can enter the other half if it never rolls over ok, great I'm, still in a half a position if it rolls over and then stops us out hey, that's okay, too because I only entered a half a position again, we're letting, it the trade prove, itself, prove itself but. It was up today I was good, industrials. Was up point, for two percent, point three one, this. Is sideways okay, this, over, the last, four. Months has been just sideways, so right now the industrials, pant. I'm not liking it it was up today that's good but I'm, not gonna get excited, about this sector, till we shatter. Through this resistance, and give. Me several bull flags right now it, was up but. I'll be honest with you we're not in this position I don't, have any stocks in this in the industrial, space it's, a really mad at me with this sector does but for the analysis, purposes for you because some of you it might matter it, was up ooh look. At this we, pointed this out yesterday, I drew my symmetrical. Triangle, I don't know if I do this yesterday a couple days ago but it was already drawn look. What happened it. Rolled over and today, it. Broke. Beneath, the, support, would it fall right back so there are buyers, right, in my level that, I drew this. Is what technical, analysis, is all about finding. Key areas, we make our decisions, on key areas this. Is a key area but again this, is inside, the symmetrical, triangle, I don't. Like to trade inside, the symmetrical, triangle, I want to see it break, through, or. Break, down, not. Inside. But it's. A beautiful, triangle and. Today. Was. What we would have expected, to happen we would expect, buyers, to, come in at support. So. That was up today then. The financials. Financials. Weren't up today, not much but again it's, still a mess, I drew, my line yesterday, I am NOT gonna get excited about financials, until, we, break, through this area once. We break through the resistance area then. I'll get excited about it and then I'll you know look to see a cup of bull flags but again right now. Starting. To look at it but, it's still not on my radar but it moves up today so I first have you go to JP Morgan hey JP, Morgan, for, example JP Morgan it's really strong so. Again if you go over here and, draw this line. There. JPMorgan. Is at a critical. Area if you notice it came up to my resistance, and then seller, stepped, in and they pushed it down now, this candle, pattern it's not the most beautiful shooting, star but, it resembles. A shooting, star camo pattern that's bearish, so even though the candle was up. Today, this, is still a bearish. Sort. Of candle, pattern shooting star because, it's right at our resistance, area so price momentum, continues. Tomorrow through. This resistance. Area. Then. I'm. Gonna get excited about that but not, yeah but again the financial, sector, is kind of ugly so. What. About Citigroup. Citigroup. Okay I have. A bunch of stuff so look we, actually, got in Citigroup, I got in Citigroup, on six, six so. A, month. And eighteen days ago I got into it on this breakout, now, price didn't, do nothing, but, if you noticed I have, a green circle that, means I hit my price target, so patience. I waited, it through all this mess, and then, I got out on seven eighteen so six days ago and I made a profit it's green there's, a profit but, again I had to be patient throughout, here okay and then I, don't even know what that lines for it's probably for one of my classes but today.
Was. A actual. Breakout. Entry, today so, if you trade breakouts. Today. Was an actual breakout, entry. But if you missed, it in my. Rules it's not too far you, could have got in a half a position, today I'm a breakout so now what you're waiting for if you're looking at this setup as you're waiting to see if it, rolls over so. You can take the other half, and, get in the bull flag but that's Citigroup, it's gonna take a look at xlp, because xlp, was the last sector that was up on the day we've, got a bunch of yellow circles, okay you could have entered a breakout here a bounce, trade here a breakout, here actually, you could have also entered, a balance. Trade right. Here, multiple. Entry so basically over the last three. Months you, have one entry to, entry three entry for, entry five, entry -, now it's just going sideways so the next entry is a break of this resistance, area so, that's, the next entry but again you have many. Opportunities, to get into this trade and profit. Many. Opportunities. Real. Estate I'm gonna look that sector though so. I'm gonna write down X out P I'm. Writing down a bunch of stuff guys, Excel, P so. That way I can talk about that today just, kind of briefly mention, it alright, x. Lr e, it was dead we, drew this. We. Drew this yesterday, like. So P, UT. X. Nike. Okay, big. Big big so. We drew this bull flag channel, right and look what happened, price. Came down today there, are buyers. At, this area, buyers, push, it up so this is a bull flag channel, now it's not the prettiest, looking, bull flag but. It's if you look in most textbooks not my textbook I learned. From my mentor to look at pretty charts, clean, shirts, I look at clean bull flag in Chapter eight I have, what. A clean bull flag looks like that. Is a bull flag no okay. But again if you're gonna trade, this wait. Till it breaks out of this channel, I'm telling, you but it was down today so it was the first sector down today and then, the weakest, sector, on the day was the discretionary. Discretionary. Now we. Had our line here, so we had a buy, stop order, to. Get into this trade okay, cuz. Again half. On the break out and pulled back now today we got suckered, in the trade sucker, what does that mean that, means price went up intraday. Hit. Our order triggered, us and then the seller said no I'm step. Back Anna push it down but still this. Area, right here is support. Again. And look what happened look what happened price, came down the support, and buyer, stepped in see how bar stepped, in a support, well they stepped in there there at that area so right. Now yes. Got into the trade we are losing money because, price faked us out but it's, still above support we. Don't care as long as it stays above support, anything, above, support, is what's called price. Fluctuation. We. Don't care about price fluctuation, yes our account is down, but. As long as it's above support we, don't, care. So. We have Bitcoin, up a theory them up, what. Was a euro United States dollar your. United States dollar kind. Of flat oil. Energy was up so we would expect oil be up an oil what's up again again oils been kind of sloppy but hey it was up today so. If you traded us oh that's the et at the tracks oil good, let's. Go see how gold, did we're. Still not in gold yet but I've, already told you we, have this divergence, down here right that's, a weakening. In the, momentum, price. Was going down so that would represent strength. In the downside, so they collide it's like the perfect storm right when you have price. Going down the. Indicator, going, up they, form the perfect storm okay and that, usually means. Potential. Pause, in, the downtrend. Now we have a buy stop order right, here we're not any yet full disclosure we're, not in yet but as, soon as price decides. To, pick up and it, will we're. Gonna get in that but gold was up today how. Was bonds, bonds, were up today as well bonds. Was nasty, yesterday, so bonds, were up today, below, the 30 day moving average not, too excited, about it but it was up okay so, bonds were up three, indexes are up the Russell 2000, was down we have eight sectors, of real. Estate discretionary. Is the weakest, like I said Bitcoin was up aetherium was up US dollar was flat Australian. Dollars in a channel the, New Zealand dollars on the channel and, the British, pounds, on a channel really quick I want to go look I'm gonna drop it down this is what we do guys, I'm. Gonna go look at a couple stocks in the staple, sector really quickly so.
I'm Gonna go to my watch list and I'm just gonna flip through and I'm looking for specific. Setups okay so I'm gonna look the 10 stocks so, right I'm next we're gonna lightning, speed okay. So, no, see. It could be a bull flag but again it's a sideways, chopped earnings. We don't trader on earnings this, is what I looked at the other day at Costco, today was a down day good. I want, to see a couple more down day so again that's all my bullish watchlist, but it's not there yet, earnings. Too close no earnings. Too close no this, is all I'm doing flying through when you know how to trade and you know what you're looking for your eyes visually, can just fly through it earnings there's, a lot of stuff bull flag write it down Pepsi. Pepsi. Cola guys I'm telling you right now. Pepsi. Cola beautiful. Bull flag right here price. Went up pull, back you can put a conditional, order to get into Pepsi, Cola it's, already past earnings again. I'm. Definitely. Looking. At my dear friend. Pepsi. Okay. Bull. Flag and, you can put a buy stop order. Right, here to get into that trade if it, bounces too long we're almost out of time but hey that's a good one right there guys. Pepsi. Court abated Pepsi PPP. G. Alright, let's see what happens what happened. Nothing. Yet. Possible. Breakout setting, up we, already got look we talked about this trade Phillip Morris we have our lineup, here I mean we're looking for a buy stop order, if. Momentum. Continues, the upside so that's still on my list but we're not in a trick nothing. Bull. Flag today, we got suckered, in the tree ride, there, yet same thing price went up triggered. Our order, it's, a bull flag but. Again it. Was well it was up today but it was underneath our entry, and soared losing, money but it's a still above support as long as it stays above support, I don't care so we're in the trade so, now that we're in Walmart.
We. Slip into, profit. Nonprofit management, trade, management, rule. Right, so. Okay. I gave you guys plenty. Of stuff. To. Put, orders on so do me a favor go through your watchlist, look, for setups look, for breakouts look. For blue flags hit the same in the currency market are not good stuff and again if you want more training, then. Check, around my blog see some of the stuff that we offer and. Let's. Go from there guys, if you don't got my book again you can pick it up I'm giving it away for free right. Now you just cover shipping it helps me out alright everybody looks, good, excited. We. Made up on the day two. Thousand. Two. Thousand, six, hundred eleven, dollars and forty six cents yesterday. Seven. Thousand, seven, hundred and four dollars so in two days we have made, ten. Thousand. Three, hundred and fifteen, dollars and. Seventy. Nine cents. That is beautiful, beautiful. Beautiful, and, the Dow was up 195. Just. Look at all my notes that's, what we do alright everybody, til next time there's. A flu kill show hopefully you enjoyed it a lot of information go to your watch let's find as good setups make, some money alright nobody till next time Rubio trader Jeff author. Of the book trading, part-time I will see you on the next show.