Swing Trading Days to Weeks | John McNichol | 10-29-19

Swing Trading Days to Weeks | John McNichol | 10-29-19

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And. A good morning everyone John McNichol here and welcome, to swing trading days, two weeks, appreciate, those yet here live with us today Michelle, everyone. Else that's connecting and those of you that are listening to the archived session, do, appreciate you being here you can see my twitter handle on the, screen there @j McNichol underscore. TD a if you'd like to follow and. Let's take care of her disclosures, and we'll get right into it options, are not suitable for all investors as, the special, risks inherent options, trading may expose investors, potentially rapid and substantial. Losses carefully. Read the provide. A copy of characteristics, and risks of standardized. Options, spread, straddles, and other multi leg option strategies, can entail substantial, transaction, costs include, multiple Commission's which may impact any potential return also, Advanced Options often, involve greater and more complex risk than, single leg option trades investors. May also wish to consider contact, and a tax advisor regarding. The tax treatment applicable, to spreads and other multi leg option. Transactions, now, in order demonstrate, the functionality of the platform we will be used in actual symbols keep, it in mind TD Ameritrade does not make recommendations. Or determine, suitability of any security or strategy, for individual, traders any investment. Decision you make and your self-directed account, is solely your, responsibility. Now. Transaction. Costs are important factors should be considered when evaluating any trade the zero commissions, applies, to online u.s. exchange listed. Stocks ETFs and option, trades to, $0.65. Per options, contract, fee applies to, option, trades now, we have a demo account for, our practice trades looks, like a real account but it's not you. Have the ability to practice what you learn here today with, paper money that, software is also for educational, purposes and successful. Virtual, trading, during, one time period does not guarantee successful. Investing of actual, funds during later time period as market. Conditions change continuously. Past. Performance, amazing security our strategy does not guarantee future results our success and as always all investing, involves, risk including the, risk of loss, now while this webcast discusses, technical analysis other approaches, include, fundamental, analysis may have served very different views and a, stop-loss, order, will, not guarantee an execution.

At Or, near the activation, price once, activated. They compete with other income. Market. Orders, or, other income and orders. All. Right let's go ahead and bring up our thinkorswim. Platform we'll, get right into it Ron Mike Eric basil, thanks for being here. What. We're gonna do is we are gonna go ahead and, walk through several, examples. Of swing trades from, beginning. To. Execution. Of the order we'll try and do as many as we can here, today, so, by the end of this session one should be able to place. A swing. Trade on the. Paper, money platform. We'll. Take a quick look at, the, market here, let's. See if we go ahead and we'll go. Ahead and bring up the big board here. So. We're going into the the. Fed tomorrow, Fed announcement tomorrow so, we may see some volatility go in in certainly. Possibly, afterwards, in. Inside, day which. We are, starting. To see at the open, although. That can change looking. At sub the other indices. Nasdaq, kind of led the way as. Far. As making those, new highs from. Last week looks, like it plugged in a few extra symbols, there let's bring up some of the indices. You. Usually have that queued up there there's the Nasdaq. Nasdaq. Made, some highs on Friday now it's interesting I do have an example of a price. Channel relatively, larger, price channel on the, Nasdaq. We'll. See where we go with this even. Though new highs kind, of push it up against, kind, of that upward, bias resistance. On. The. Screen right now let's, go ahead and bring that back out. So. We'll see if prices, actually back, off of this. I'm. Gonna wire it a little touchy here today. There. We go and we're just wanted to kind of zoom in, on that, resistance, area, there so recent. Breakout taking, out those highs new. Highs kind. Of consolidating, at that resistance, area looking. At the dow dow. Jones. Djx. Go. Right here. Dow. With some of the larger caps that have lagged a bit you know did recently, break, out of, kind, of a descending. Resistance, some, traders may refer to this as a inverse. Head and shoulders. However. Not, as strong as we saw on the Nasdaq, or more, recently with the.

SMP. So. Kind of hanging out there and then last one lose you that follow me on Twitter. Usually. Highlight these indices, each, and every week keep, an eye on those small caps the. Russell, are. UT. And. The. Bias of the Russell has been more towards the downside. And. As, we try and zoom in. You. Kind of see that channel, that I have drawn here with, a little more that downward bias, now, the the. Russell did recover. Pretty. Well from the sell-off in. September. There how, we're just rallying, up were right, back at that. Decline. In resistance, so those people kind of one of the big tests probably. Post fed to, see if the Russell is able, to break out and get on board with some of the other indices, thus, reverse. And more, of that downward. Bias, that they've had for quite some time over, about the last 18 months. So. We're, going to go through again some practice, swing trades today, some. Of the considerations so those, you that joined me last week we kind of did a review, on ATR. Average True. Range as, far, as identifying potential, targets, as well as stops. Unfortunately. To, attitudes I think three trades we did got, stopped out on the same day so a, kid, iteration, when, utilizing. Stops. Also. Considering, as far as entries, during. What time of day we've, talked about some of the pros and cons whether. Entering, earlier in the day or wait, and going into the close one, of the cons is in entering, earlier, and did stay away those, are even smaller accounts, from, some of the day trading rules if you get. In and out of a trade more. Than four times in a five-day rotating. Period you, may be defined, as a pattern day trader there, are some requirements as far as deposits, that, you need to follow and meet in those margins. Whereas, if those trades are placed towards, the end of, the, day, the. Probability, being stopped down to the same day less, and even, if you're stopped out at the opening, of the, next day or you exit at the next day since, the trades occurred in separate. Periods, that, would not be considered being a day trade, alright. So let's go ahead and see, what we have that we can go through some setups here today if you have any questions, feel, free to go ahead and utilize the chat would certainly love to hear from you. And. Good morning you Patricia thanks for joining us. Alright. Now looking over on the left-hand, side of the screen. We. Have a watch list of some penny increment stocks, I'm. Gonna go ahead also. Have the scratchpad up, for you for those you that may have more recently joined us thanks. For being with us and. We, have some shared links, for. Some. Of the script, focus. Point is. Some. Of the moving averages, to identify.

Trend. And. Utilize. In script, to possibly identify. Candle. Reversals. Ie, the, trade, above, the high of the low day or, trade below below. The high day. Now. Math mat asks a question, is there a place to read more about such day, trading rules regulations. Absolutely. If. You're actually on the TD Ameritrade, website I. Think. I have that right here. Right. Here on TD Ameritrade website you, can actually utilize the search. For. Instance day trading. If. We go and click on day trading you. May be able to see some. Information here such as day trading margin requirements, pattern day trading rules right there right up front along. With more information down. The list. Also. Feel free you can also contact. Customer. Service as well our. Client services, will be happy to help but a lot of the information can be accessible via the, website. Great. Question and also just shows you and how easy it is to find probably almost anything you want between, the thinkorswim platform and, the, e TD Ameritrade website. Alright, now. We'll. Do is going, through some. Of the stocks that are on the penny increment list for. Swing. Trades. One. Of the common aspects, if one is looking for. Momentum. Is. Secure. It's a time now since a swing. Trade typically. In our examples, may be a trade. That goes from days. To weeks, one. May want, to make sure that kind, of the trend over more, the Intermediate Period you know at least over the 20-day. Period maybe a 30-day period may, be generally. Up. Now, the moving, average is that we're utilizing relatively. Shorter term have. A 5 period, and a 13 period, if, both of those averages, are rising, that. Implies the near. Term trend. Would. Be possibly. Going up and maybe more supportive, of some, of these flag, setups, that we're looking at okay so, with. That. Looking. At a list of some two penny increment lists the ones, that are showing up, more. In green are the ones, where the, five is greater than the, fifteen period. So. If I click on a stock like cucum and. I'm. Going to bring this out over we'll get a three month period. We. Can see examples, of shorter term. Momentum. Supported. By more of an intermediate trend. Now. In a lot of these cases you know we have some events that are coming up between earnings, and also. The Fed across. The board so. One. May certainly do their due diligence before, they execute, on a trade going into an event or, at least look into profit, before that event occurs.

All. Of our examples are for illustrative purposes we'll be doing them on paper money and would, encourage you to practice some. Of these trades as well on your own. We're as contrasting. Looking. At some other stocks in, the list like here's Marvel Mr VL. Showing. That it's probably below some of the intermediate averages. So. We kind of look at the trend here. How. The average is more flat to down although there has been some shorter term momentum as the, averages, have been turning up. This. Would be an example of possibly more of a reversal. Of the trend some, when we discuss and technically speaking. Every. Monday at. 2:00. P.m. Eastern Time, kind, of more of a double bottom formation. Now. A lot of these flag setups, are examples, of kind of more of a bounce so, after, a reversal. Which could be a sharp move up a. Pullback. Over. A couple of days forming a flag could. Be that potential, setup. I'll. Leave that here for a moment. And then, looking at some other stocks like, micron, that, may have shown some reversals, and. Are. Trying to trade higher some sharp moves up these. Are indicative of a flag. Type. Setup when one has a sharp, move. Up over a couple of days. Now. Moving averages are one way of looking at the trend another. Way another tool that shared with you under the pattern tools is that, Williams, fractal, tool by. Going to patterns on, the, chart and do. Select, patterns. Within. The candlestick. Area. Will. Click on that and in. The drop down you have Williams fractal. Williams. Fractal, is a tool. That one can apply to. Lose you that struggle, to identify. Ok. Let, me go and do it one more time. There's. Also price patterns you can add on there as well this is actually from a review I did yesterday, on, technically. Speaking I'm going to remove all these patterns will. Go to candlestick, and type. In Williams. And. We'll add that. Now. You'll notice that there's going to be little, fractal points on the chart. And. With. That in mind this. Is how we can go ahead and identify some. Trends, higher highs higher lows identifying. An upward, trend, so. Notice. Low. Higher. Low, high. Higher. High that. Would define more, of an uptrend and knows that's continuing, certainly the more higher, highs and higher lows, defining. That uptrend, where, the inverse of that more, of a downtrend is when we see examples of prices, making those lower, highs and lower lows, so. Bring out the chart a little bit on Marvell. Here. And. See in other aspects, where kind of the transition of trend. The. Price was previously making those, higher highs and higher lows. Now. Seeing examples of lower, highs and lower lows, which. Would be indicative of a, downtrend, now if we're seeing more of down trends those could be examples, of bearish. Trades that we may look for for, a bearish, swing so, swing traders are looking to trade with, the trend so we're gonna do bullish swings these they need to be trends, that or weather going up or at the very least, being. Sideways. So. Let's look at a few, other examples here. Now. Another thing we can do too is, on. The script. The. One that has the cajon, price, is closing, above or trade above the high the low day we can sort that and look, to see if there's any stocks that may be bouncing. Or setting up to bounce, this. Will basically sort, them you'll. See examples of potentially, bearish bounces, which. Looks, like a, few. Stocks may be doing that since prices have made some, highs it's, not out of the ordinary to start seeing the pullback that's, not necessarily bad in fact in a, stock that is more of a stronger trend, for.

Example, Let's, look at unp, which. Is showing that's above some of the major averages and. Supposedly. Has a bearish. Bounce this. Could be a an, exit. If one's already in a swing trade, it. Could be possibly, a setup where one's waiting for the price to pullback so let's take a closer look at. This. One I'm going to zoom in. This. Is actually an example that we did. Yesterday. In. Our reversal, and bounce patterns, now notice here the trend is generally up. Ok. Trend is generally up notice. That the faster moving averages, are above, each other those, are kind of going. Forward like railroad, tracks parallel, that, also points towards that momentum, we. See a sharp, move now if I go ahead and let's see if I can bring up the fractal, point. On this one. Some. Reason looks like it disappeared let's, see if I can do it again. Now. You can see the fractals, making those higher highs and higher lows and. Let, me bring this out just a little bit, here so we can get that set up so. We have a little bit of a lag here. Also. I'm also showing some of the orders on the chart now if I want to go ahead and hide this I can, go ahead and go to the gear on the, chart and on, the general tab there show orders, I'll go ahead and uncheck that, so. We can focus. On the, current price action. And. If. You see on the price. Sharp. Move going, from low. To the high and, then. We're seeing a, little. Bit of a pullback starting, off with a little more of an engulfing pattern. And. A. Little more of a doji or spinning top you, know that coupled, a pullback that is the example, of a flag so, this would be another setup that some traders may look for for, that bounce so, just because you see that there may be you know some bearish. Type of candle. Bounce that. Could be potentially. A good, setup for another. Swing, trade if the, trend is generally, up. Let's. Look at some other ones Network. Appliance, okay. Notice looking at Network appliance, same thing, zoom. In on that. We. See. Going. From low to high sharp. Move and, we're. Seeing a little more of a consolidation, form. In that flag. Okay. And. This. May be typical based, off of you, know the last week being relatively, stronger for many stocks. Okay. That was Union Pacific which we already looked at, let's. See. Nike. Is in here as well, now. Nike is a good example as we. Look at this setup on. What may be a. Good. Swing setup that is consistent. With the trend, now. If we're gonna do a bullish, swing trade we're, looking at trends, that are making higher, highs and higher. Loes so. As we go ahead and look at Nike at this point on. The chart you can see that it has been making those higher highs and higher lows. Going. Up into, October. Now as we go a little forward here, so. We can go ahead and illustrate this. Still. Making higher highs now. Notice it's starting to pull back now, that, could be an example of, a, swing. Setup or a flag setup you know where we have kind, of more of that sharp move up. And. We're. Starting to see that retracement. Which typically may be a couple of days now one. Consideration, here, is. How. Far can. It pull back and still be. Possibly. A bullish. Swing setup well, look at the highs and lows, preferably. On a pullback. Traders. May like to see that pullback, to, stay above a previous, high.

Indicate. And that momentum, now. That's not always going to happen at the very least it should be staying above a, previous. Low. Because. If it's not making. Higher highs and, higher lows, and, then it's probably going more sideways, that, can still possibly, be a swing trade but notice, the momentum, is actually. Gone or has. Lost, indicators. Like the MACD, may end up going negative and in the case of our moving. Averages, you. May see faster, moving averages cross below a, slower, average, indicate in some, of that change of momentum so, as we continue going forward on Nike. Notice. On this pullback has. Taken. Out that. Previous, low so, not exactly a, stronger. Flag. Bull, set up there let's. Double check that see if anyone has any questions here would certainly love to hear from you. Cokely. Asks the question about, some. Of these. Percentage. Changes, that are on the chart. I'm. Currently not displaying, them I you actually usually hide, them unless I'm discussing, that so my, apologies, on that basically. Those are just showing rich. Earns over, different, periods of time 89, day period. Versus. A 21, day period this, is actually topic I'm going to be discussing in Vegas, on. Taken. From the top down on sector, rotation so. Those you that are be joining us for, the investor conference, I'll be going over in that session and then, probably as a follow up I'll do this dinner my technically, speaking, class on Mondays. When we talk about relative, strengths and sectors. And different stocks, so. Thanks but we won't be discussing that today all. Right. Let's. Look at a couple more. You. Know here's Tesla. Tesla. Sharp move coming, after earnings and we, can see another example of a. Flag. Sharp, move up. Price. Pulling back over, a couple of days, so. Few, good setups there notwithstanding earnings. And with the Fed that, can weather, continued, this momentum or just, cut it off at the knees but, we're gonna go ahead march forward with, a couple of these practice. Trades. And. Let's, see here. Go. Down the list see there's any other ones. Quite. A few want on the technology, side. Nvidia. Hitting. A high on a one-day, pullback there.

Now. Some of these pull backs may go over, a couple of days this pullback may continue, going into the Fed notice. How some. Of these previous, moves sharp. Move up and. Pull. Back over, a couple of days and. Then. As price trades, or closes. Above the. High the low day that. Could be a trigger for an entry. That's. What this, script, on the. Right it tends to do so a couple examples of, stocks. That may be trading, above the high, of the low day from, the penny increment list let's look at Adobe. Now. This. Will also identify not. Just trades. Or closes above the high-low day but, if there wasn't previous, inside, day and the, price breaks out of it it will identify that. So, here's, Adobe showing, more. Of a positive bouncer, positive. Momentum for, the day but, what is the trend notice, the trend is more down, lower, highs lower. Lows. So. Traders. May be more inclined to look for a bearish. Trade. Which. Is to trade the downward. Swings and, as. Far as prices, retrace, up, look. For a bearish, bounce as prices. Trade below the, low of the, high day. So. We may actually if we got time maybe do a practice. Bear setup as well. Make. A note of that. You. Know kind of pull that out so we can see how the trend has generally been more down on Adobe. Wells. Fargo on the financial side a strong. Swing over to last week, looking. At maybe about a one-day pullback their price, kind, of Foreman more of a a. Pearson. Line as prices, are trading, through. That. Previous, day more than halfway, sometimes, the bounce may only last or. Not, the bounce but the pullback may. Only be a one-day pullback, we'll see if that's the case in Wells Fargo. The. Same thing to look at merica we've had some start sharp. Little. Consolidation. As we go into the Fed not. Expecting, some big move. Bring. Up at a BBV this is actually one of the previous swings that we've done that. Did, hit its target, notice. After. Doing that it's pulled back again, over. A couple of days it. Bounced, yesterday, trading above and closing above the high the low day. As. Far as getting. In and an. Earlier point. And. Looks. Like my mouse, is stuck here. You. Know price is already coming up to that previous highs so. Let's talk about like targets, here, we. Touched on this last week. Traders. On a swing may have two, targets in mind, one. May be a previous, high. So. If one enters, into a balance may look to target that previous, high, to, is, measuring. The pattern. The. Flag pattern. So. We'll take our drawing, tool, diagonal. Line and, measure. In from a, swing. Low, to. A swing high now. This is a pretty large, swing, here and. Then. Projecting that out we can right click on, that line. I'll. Do a duplicate. Drawing for. That trendline and. Then. Basically start, from the low, of the. Flag itself, and. Projecting. Out that target. So. As far as some traders if they are targeting, more of that flag you know they may look at where their entry point is. Relative. To where their stop may be and if they're able to get a reasonable. Return for. The risk that they're taken they still may do that trait now, again there is an earnings event that's coming up.

Then. Some traders may also go back and take a look at you. Know some of those previous, swings, and. You. Know as we take a look at something like. Av. There and. One can see that there have been some. Reasonably. Swings, very similar, to, the one we just seen. And to the one that we just measured now, again this. Is going into the the, Fed. Tomorrow. Here but let me go ahead and put in an example, trade. And. Show, you on how we can go ahead and put in the entry stop, and the target. Yep. There is an earnings event coming. Up. Now. If we want we, could go look. At just stocks that may not have earnings. Upcoming. And if you go ahead and look at the list here, it'll. Show stocks that have earnings. So. If I go ahead and scroll through on some of these and see if there's any not and this is kind of just kind, of the way of the whale right now is we do have a lot of stocks that do have earnings. Here's. A Pan. American networks. Or, a. Palo, Alto Networks sorry this, is the one we actually kind of we probably, should just done a regular, swing trade instead of the ATR, because the ATR, basically jigged us out of the trade but. This stock actually made about. A ten percent move since, last week and notice. That you do have a. Sharp. Move, up and. Potentially. Starting, to flag right. Now. Some. Traders may be looking for prices, to be breaking above that area. At, least as we go through a few of these we may not add there's also some cheaper stocks that have been showing. Some. Potential. Flags. As well. Some. Of these are actually going down. Be. Interesting to see post fed on how the homebuilders, are gonna fare we. Saw some selling off yesterday. This. Price is kind of traded below a low kind, of showing some recovery, today so. The path of interest rates and growth to be a driver there. And. Let's. See. Yeah. Looks like we may have too much to go with as far as getting away on, some of the earnings unless it's able to profit over the next couple of days at. Least on a few of the setups that I've been looking at here. Because. We've got CVS, that's. Pulled back and bounced, it's. Kind of rolling over a little bit today and. Our. Ad. For. Rite. Aid still. Kind of hanging in there after their reverse split. They. Went ahead and. Broke. Above a little more flag now this one actually did go below a previous, low. Carlos, asked question is a recession in the archives where you can explain how they navigate, through items. In your watch list like the 5:13 crossover, and what. The colors mean absolutely. If, you go back on the education, tab, and. Select. Education. You. Want to go into the webcast in the archive, so, if you select webcasts, and. Once. There. Go. To the archive list. And. As. Far as instructor, since I'm John McNichol you go and find my name in the archive. And. Here, you can see the previous, sessions that I've done. And. A. Couple ones to look at is. Technically. Speaking moving, average crossovers, and breakouts. And. Another. One to consider. You'd. Have to go back to I believe. August. There's. A session that, I covered, for mr.. Ken Rose. It. Was dated. August, twenty-seventh. Scripting. Studies on thinkorswim trend, and bounce scripts right there that would be the the, one of record, to, take a look at that, will give a whole background on this and. The. Short story is if you actually right click. Once. You add the indicator. Right. Click on the column header. It. Allows me to for some reason it's not. And. Select. Edit I. Try. To give an explanation as, far as what the. Indicator does. Ok. So. From there. Once. You add the indicator. Right. Click on the column header select, edit and, you'll. See an explanation of, what, that indicator does, thanks. The question appreciate. That, all. Right. Lee. There's one here that did. Not have. Yep. I'll still have earnings events. These. Are all from the same list a. Cody. Goes out a little bit here so let's, do one this is Cody. If. You go to the analyze tab and, look at the fundamentals, looks, like this is like a beauty company, here. It's. Also a, relatively. Lower price stock. I'm. Gonna go ahead and set. Up a swing. Just utilizing the stock on this one. We'll. Go ahead and measure the, swing. Take. The drawn tools. Going. From low to high. It'll. Right-click on that activate.

The Drawing and. We'll go ahead and move that. Now. What. We're looking for is looking to trade above the high of the low day now currently today's. Price action is forming. A low and so this may end up being a low day but. Previous, would. Be yesterday's, high so. Looking to see if price is able to trade above yesterday's. High. Now. The lowest part of this flag, is also right here from about two days ago. So. What we're seeing is kind of an inside day form in those her Ami's and that's. Where that cold script, will, actually identify, some of these similar, patterns. Now. If I want to go ahead and place a practice, trade, one. Let's go ahead and set our target. So. You know based off that previous, move you, know targets showing up at around 13. And change. Let's. Go ahead we'll make that 13, 45. Just. Gonna do a horizontal line. So. We plan out the trade. You. Go ahead and make that whatever color you want. So. We have a target in mind. As. Far as setting. A stop we'll go off of that low. Low. Is showing up at about eleven fifty three. Well. Some traders may set a percentage, or a dollar amount below there so. If we do let's, say eleven. Fifty, three times. 0.99. That. Equate out to be a stop of 1141. So. I'm go ahead and take that same horizontal, line that I have create. A duplicate. Go. Ahead move that down. We. Can right click on that and edit, the properties. I'll. Make that example red. And. Let's put in the price should. Have done that on the last screen. Right. Click on it this, we get put in level. 1141. And. Click. OK. Now. I can go ahead and look. At the high. Basically. Look at the high the low day. Or. The. Inside day whatever's, better so. The high on the low day was 11:53. On the, inside day. Let's. See we had 11 90 on the high day eleven. Ninety so it's basically the same price, so. We. Can put in a trigger that goes a certain amount above, that, high, some. Traders may set 20 cents. On. Lower price stocks they may do it less than that let's say we'll do 10. Cents here. So. Therefore we'll make that trigger. Twelve. Dollars. Now some. Traders may look at whole dollar amounts, as resistance. Here so, let's say we'll go ahead and actually make it twelve, and a nickel. So. I'll do $12. And five cents, that'll. Be our entry. There. We go, all. Right so there's potential entry stop. Target. Will. Right-click on the chart and. We'll, do a buy. Custom, with. Osio, bracket. This. Will enable us to place the order, while. Simultaneously, having. A potential exit. A1. Being a target price that'll, be the limit and, one. Being the potential stop price that'll be the stop price now remember whatever price we put on there that's, a trigger price it's not the execution. Price. Will. Actually, highlight that let me expand, this out. Now. The other consideration, is on the entry you, know right now price, is below the.

Current. Correction. Our potential. Entry, is above, the current price. So. If we went ahead and in this. Order. Let's. Say I'll plug in 1205. Twelve. Dollars and five cents. Yeah. Right now it's showing up as a limit, order, which. Means if we place it it's going to fill that 12:05. Or better well, the stocks at 1161, so guess what it'll fill right away well, maybe we don't want that to occur, we're. Looking for it to enter as the price bounces as the, price trades higher, trying. To capture that momentum, if, the momentum is not there then there'll be no entry so. Therefore we need to change the order from limit. To. A, stop. Now. We're gonna make this a stop, limit. So. We're gonna utilize a stop to get us in think, it stops as getting in or out at a worse price so. If, you're buying something that would be a higher price than the market is and, if you're selling that would be at a lower price than where the market is, so. Notice on the limit we got two prices, one. Is going to be the trigger price that's the stop. We're. Sending that trigger at 12:05. Now. Once that trigger hits what's going to happen it's going to create a limit, order and the, stocks going to attempt to fill at 12:05, now. If I just made this a stop. Then. It would fill at the next available market price which, could be higher, or lower than, that, trigger price so. On the entry traders, may wish to explore. Price. And. Try. To get control over that price now if. The price moves strongly. One. May not get filled if the market moves away so I'm going to go ahead and just make that a nickel difference there I mean. That we're willing to pay twelve ten or better if it, hits 12:05. Now. In the sell orders we're gonna go ahead and make these. GTC. For good til canceled. That. Way if the order, okay. That didn't work that way. All. Right, we. Got some little possess'd here today let's see. What. Happened there. Seems. Like it just disappeared on us. Okay. Yep. Just went ahead and disappeared, let's. Go ahead and reset. That up that's. Okay we already did that on the chart. Let's. Make sure it didn't accidentally cancel, it. Cuz. Usually it should show up on the orders here but it looks like it just. Disappear. Alright, then. Right click on the chart. Will. Do by custom, wit stop, or. Actually by custom is Osio bracket. We'll. Make that a stop. Limit. We. Got the 12:05 in there. We'll. Do 12 10 for the limit, 12:05. For the stop trigger. We'll make the sell orders GTC, and. Then. On the limit order. It'll. Be our target, which. I believe we put at 1335. And. Then. The stop we. Had put at 11:41. Put. A 1%, below the load a. Hit. Enter then. We hit confirm and send now once we confirm and said. Yep. There is an earnings coming. Up so we're. Looking to see if we, can get some swing out of it but, again all these for illustrative, purposes we're, pretty much ripe on earnings on many of these. This, is 100 shares which, is about $1,200 now one can position size based off the size of their account on how much they're willing to risk. Theoretically. If, we're entering, in at around twelve ten and the, stop is at around eleven forty one, that's. Risking, of about, 70, cents, per. Share but. Keep in mind that, stop is not guaranteed, to fill at that 1141, it could be significantly, less so. A position size accordingly. I'll, just go ahead and, based. Off the size of my account I. Can. Make this 500. You. Hit the chain link make sure the sell orders match and so, what happen if this order fills then.

It'll Be a 1 cancels other if it hits the limit it'll, cancel the, stop order if the. Stock stops. Us out it will cancel the. Limit. Order. Hit. On to confirm and send. And. We'll. Send. Now, if I go back on the gear on. The chart and go back to general we can click show orders, and apply. That and, that'll, be shown. On the chart there. At. Least it says can you explain the reason to, buy, Cody. From, a technical standpoint and. This. Is not a recommendation to buy or sell any security. Let's. Based off of. Momentum. And. As. Far as trend so here's a stock that recently. Was down. Trending, had. A reversal, of that trend. Broke. Out and the. Tendency is when prices break out they, may pull back and. Form. A bounce this, is a flag, pattern. Setup if. You want to learn more about this, type of pattern, setup it's. Accessible, in the technical, analysis, course if, you go to education and. Go. To stocks. Once. On the education, tab, go. Ahead and find stocks, technical, analysis. If. I go in and click on that and. Within. The stocks analysis, course. You. Can see examples of an investing. Plan and. One. Of the samples, is listed, right here under, resources, in the upper. Right we've. Done a little variation of this one but if you click on sample investing, plans you, will see the. Example, of. As. It's trying to bring come up. Let's. Get loads up for us it's. A sample, flag. Plan. So. All we're doing is looking at the technicals. For it and, looking. For a potential bounce, over. The next few, days two weeks no. Guarantee that'll happen and like, I said between. Earnings we got the fed tomorrow we'll. See if that's gonna lift everything up or, bring. It down start one more time. Do. You apologize for a bit of a lag here. Doesn't. Even want to open up maybe, you'll have better luck, opening. That up, that's. Also one of the strategies, we discuss in our technical analysis, workshop, so, while we're here it looks like we're kind of wrapping up as well. As. My screen. Screen. Works for me here. And. Here we go this is probably the problem. Sometimes. This happens I think I just having a little memory issue here. So. We may have to go ahead and wrap things up a little, early, here although we are coming up on time. So. My, what. Encourage you to do is, Lisa. And anyone else to, be a little more familiar with these setups we talked about today, the. Flag setup is looking. For stocks that are generally in an uptrend and. I've. Made a sharp. Move, higher. You. Know keep an eye on some of the energy stocks, that. Are setting up for a reversal, they haven't quite broken, out they're, kind of flagging at that resistance. Let's. See. Not. Enough time to cover it on today but those you're interested, in bearish, setups. Twl, o is an, example of a bear flag sharp move down. Retracement. Up traders, looking for a bearish. Bounce to trade down again. Nice technical setup but unfortunately, earnings, are not giving us much time. For. Practicing. With these well. You can still practice with them don't, necessarily, expect. The. Desired results, as we shouldn't in, any trade this was Adobe, another, example of looking for a bearish bounce. So. In the case of Cody we'll see if that actually triggers, so. Right now the trigger for it is if. The price goes. About. 10 cents above the high the low day now, if price keeps pulling back let's. Say if this price goes in pulls back and makes a lower low then, we can adjust the. Entry, to, being about 10. To 15 cents above the, high of this, day of today if the, price goes lower, that. Will also mean that your stop would be 1%, below that low and your. Target may be adjusted, down however, slightly so. Again we'll see if that triggers, and. Let's, go ahead and wrap things up folks. Again. Apologize, for that lag towards, the end there what. We did was we went ahead and reviewed, the, overall market, as far as how, its setting up mark, and making some new highs but. Others, at some resistance, so not, added or ordinary to see a little bit of a pullback. What. We also did was went ahead and reviewed. You.

2019-11-05 11:41

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