Active Trading Strategies | Pat Mullaly | 12-22-20 | Using Bollinger Band Squeeze And RSI Together
well just a few more days until christmas markets uh you know not giving us any presents yet we'll look at some other things that might be producing some some ideas so stick around good afternoon good evening good morning everyone wherever you are uh hopefully everybody is uh having a fairly good holiday if you know as far as holidays can go for now since it's still working in the week we're going to look at we're going to combine some things since this is a short week we are off uh on uh a good part of thursday and some of and all of friday of course but uh today with active trading strategies we're going to look at something i did last friday we're going to add some things to them and add some things to those bollinger squeezes that we talked about and see if we can't uh figure out some active trades in there before we do any of that though remember everything we're doing here is for educational purposes only not for recommendations uh any decisions that you make in your self-directed account is solely your responsibility we're going to look at actual symbols that does not mean that td ameritrade is making any kind of recommendation about the suitability of the strategy or the security also past performance does not guarantee future returns all there are transaction costs on some things but typically zero commissions applies to u.s exchanges and stocks etfs and options 65 cents per contract fee on uh on options all right today we're going to combine some momentum with some volatility using the rsi and those bollinger bands and look to put on an example trade or so uh so let's get out there first i want to welcome everyone uh in the in the chats as well as uh i uh michael fairborne is there today the great michael fairborn if you have a chance well you should make room to have a chance you should make the time either in the archives or alive to watch some of mike's value and growth uh segments to add a little bit of fundamentals to your analysis as well as getting started with uh think or swim that he has every thursday at um uh 3 or 5 30 eastern time so please join him and i want to welcome as well uh even emj and uh tinjar eddie uh mike uh lalit joseph ricardo and losing total control here it takes me a few minutes to get used to where the mouse goes here grace hello grace eddie uh and uh everybody else in the archives please uh if you are in the archives or uh we we welcome you as well if you are live you are able to see the chats and these great people that are in the chats in the chat room tossing out ideas comments things like that that we can oftentimes benefit from let's get going here let's take a look at the markets and you can see the market still just wiggling sideways not giving up anything uh as far as price goes not gaining any as well so really just drifting straight sideways as we go into the uh all of the news that we have out there uh that uh you know whether it's stimulus news whether it's you know a a new uh a new vaccine or and then a new strain of the uh of coba we seem to be getting whipsawed around with all kinds of news and going into the end of the uh the strangest year ever i think so what we're seeing here really is more weakening uh as far as the mcclellan oscillator as far as the breadth goes we've got the advancers and decliners this calculation for the advancers and decliners dipping down a little bit we are down only two-tenths of a percent and we're showing maybe a little more weakness in the uh up down volume i mean we're only about 37 percent up volume uh so far for today uh which is indicative of down day but maybe a little bit less up volume than we'd like to see but you know again this is the early portion of the day we've got a lot of time left in the day we'll see how this shakes out going into going into this end of this week and into next week as well so nothing's radically changed know where your levels are know what you're going to do when you're going to do them all right let's get out there and talk about what we're going to talk about today and that is looking at using uh relative strength as well as uh using uh bollinger bands it's a it's just a play uh an addition to what we did on friday in the advanced uh or the technically speaking advanced charting techniques uh but we're going to put these two things together before we do that though i want to talk about structure because in um in one of the webcasts that it was in yesterday one of the the the question came up about uh if we see a descending triangle does that mean it's bullish or bearish and i want everybody to understand that these ideas of these uh geometrical uh uh shapes came along over a hundred about a hundred years ago now when the first book was really written about them but they've been around for a long time and then some of them have lost kind of their their directional meaning uh because of the amount of people uh that trade this the swiftness of the trade so what i would suggest is uh what my suggestion is is that instead of trying to anticipate that direction look at the trend first look at what's happening here we have re uh renewable energy uh that uh the the energy renewable energies the electric cars the electric batteries all popping really strong uh today i put out a tweet earlier today as at the market open about that uh and here's my twitter by the way you can follow mike uh michael fairborne at m fairborne underscore tda on twitter this is my twitter profile page here you can follow me at pimalali underscore tda and so here is the pre-market on apple apple announcing that uh and this is you know frozen in time because it was just a picture apple announcing they were looking to do an electrical car and then we have uh some battery people over here uh uh we couldn't forget their names quantum quantum systems i think it is blink is a uh storage battery uh and all different types of things that have to do with the uh the electrical or the green space so the reason i bring that up is uh number one watch you know join us on twitter on twitter as well you can get uh some of the uh links or to uh to the scripts or i should say scripts to the indicators that i built and the indicators that i use so that's a great reason but here's renewable energy this is uh uh regi popping to the upside and the point i'm trying to make here because this is going to be where we've got when we think about how we're going to make trades we may be it's good to be simple but it's not necessarily so good to be so simple whereas i see a stock i'm going to buy it right i see a stock and there's going to be have to be certain things that come into play uh in to before you make your decision however you do that and of course we just show different types of things that are used out there by different different technicians different fundamental analysts and those types of things not any kind again not any kind of recommendation but this is a symmetrical triangle back in the day a long time ago symmetrical triangles were considered to be bearish at the end of an uptrend now you can see here not so much it just coiled up and started to break to the upside and that's the danger of drawing these um and looking at these uh symmetrical or looking at these geometrical patterns as they are okay because uh as they appear to be since some things aren't necessarily what they appear to be so what i'm gonna do here is show you uh something you need to consider there's nothing at all wrong with drawing this drawing this symmetrical triangle it is coiling up it has to pick a direction it just so happens that it picked the direction to the upside i have a 20 period moving average on here you can see that's tilted up that's an exponential moving average i am going to remove that for now and i'm going to remove these lines uh as well because once i remove these lines let's take a look at some important areas and this is something i want you to do not just to look at the the the triangles or the or or the uh the the ascending triangles descending triangles symmetrical triangles flags those types of things we need to take into account a few other things before we make some of these decisions and so what i'm going to do is we're going to point out some important areas because the danger of kind of the danger or what you might miss i shouldn't necessarily say danger once you understand what you're looking at doing this is not necessarily a really bad thing if you don't know why you're doing that or what what um in particular this day right here means in the overall scheme of things when i say the overall scheme of things i'm talking about this whole consolidation because that's all a symmetrical triangle is as a consolidation and then once we see which way it breaks we can be active and take some kind of an active uh active trade so to point uh to uh point out uh what i mean here before we move uh into the uh into uh another into the examples we're gonna look at today is i'm going to remove that and i'm going to draw a horizontal line let me draw a couple of horizontal lines first of all i want you to notice nice uptrend nice up trend in here broke out to the upside the the idea here is that at some point it becomes this whole trend that it's been in gets a little bit too uh it's a little bit too hot let's say and uh starts to have a climactic run we can see that the volume was building up into this run and then it had a pause right and so that's how we define pauses and so once we do that what i want you to consider doing is just noting this high once we see that climactic volume and see this start to pull back note that high there okay you notice that high and this is the important thing about these triangles i want you to write because what we don't see in the triangle we do and we don't because we don't unders oftentimes when we're new don't understand what we're looking at i want you to think about um think about this that uh some important upside action here inability to push above this high inability to push above that high inability right and so we're seeing this kind of coil up it's each of these lows uh slowly but surely is uh each of these points slowly but sure surely is getting a little bit lower so we're seeing the the important issue is in these triangles that we draw is the inability for price to move above this point right here that's the high that's the bullish area that we need to see it break ultimately doesn't mean we wait for that to happen to get in but ultimately to get above that area now the next thing we want to look at is um really this uh this area right here because this is where we draw have a tendency oh hey look here's a uh we have a symmetrical triangle now right we can draw these lines in here we have a symmetrical triangle but what is this really telling us we now know that these are telling us that there's an issue uh with uh with sellers coming in and not uh people not willing to buy and demand is not coming in right that's what we're seeing when we're seeing a symmetrical triangle we're seeing the issue where people are selling but they're selling it lower on rallies at lower prices right so here what we'll look at is this line right here and i want you to notice that when i do that now we have something that's that's similar to a rectangle not perfect right because we don't have those highs touching but we do know what we're seeing and if i do this activate that drawing now and pull this down ah well wait a minute maybe we've got something a little bit different like i say we need to understand that it's coiling up that's the purpose of the symmetrical triangle but the purpose of what i just did here so we understand what's going on at some point you're not going to see that symmetrical triangle all you're going to see is this right and then suddenly what do we see if i can get this to click there boom oh that looks bearish right at some point that looks bearish and that's my point is how bearish is this gapping down cut undercutting these lows undercutting you see there's three places four places right in here where price touched that low and now we're undercutting it and we're undercutting it on big volume okay now that doesn't mean that you can if you want to go totally bearish right then and there but the point is is that now what happens and why is this point important if it is important because it starts to pop back up and get back above run back up to resistance fall back down and then start to coil starts to fail to get back up to resistance but it kind of made it there and then broke out so this when we start thinking about these triangles we have to think about these excursions what we call adverse excursions where is where did we have uh this the demand drop off and supply come in when was it climactic that's there that's the important point now we're above that point and it's pushing uh to the upside so i just want to kind of get this out there that when we see these uh we start drawing these triangles we have a tendency to get too myopic and we don't look at how those triangles where those triangles formed from and so when i redraw this triangle now hopefully by doing this exercise you'll start to see that there's other things that are occurring inside of this consolidation right because we can't draw a triangle really until we get that low point we can't really draw that triangle until we get that low point but that low point in this whole area in here is one of the more important areas that we need to have some recognition of right inability to push into new highs inability to hold the new lows it coils up and then it breaks out on big volume okay so now now that we understand that now that i got that off my chest hopefully that's helpful i want you to all start thinking about things not only in just certain uh triangular forms but look at the rectangular form that it's going to eventually build because what i mean by that is if we activate this drawing this triangle this symmetrical triangle a couple of days ago turned into an ascending triangle right and then it pushed forward and now we have this break so that's the point that these triangles anything diagonal is is not static it is dynamic and they're going to move and so you have to understand where they moved from what happened along along the along the way okay let's move uh forward here and get into the discussion for today today's discussion we're going to take a look at our egi uh the one we were just looking at as a uh as our uh method so i'm gonna i'm gonna do a uh a uh get back in the wayback machine here if i can get the edit properties going here and i'm going to open up this full text and this is what i went over last friday there's two three things i have now on here last friday i only had the bollinger band and the bollinger bands squeeze here now i have rsi on there as well so we've got momentum with the rsi and we have uh volatility ver in the bollinger bands what are bollinger bands for anybody that's new i'm going to click up here this is where we find them uh up here in the beaker and you can see them right here on the right side of the edit studies we're going to type in bollinger over in here for anybody new or anybody new in the archives bol and you've got bollinger bands which we double click on that puts that over here on the right side bollinger band width and this is just and this is just to help our eye this is just to help us uh it's not a uh it's not a be all that ends all with the bollingers but it's a little more helpful and what it does is it calculates how how uh uh the width of the bollinger bands from the uh outside band and the or the upper band and the lower band and is it when that gets tight that means volatility has dried up when volatility has dried up that's an important thing to recognize a bollinger band itself is uh consists of two lines plotted two standard deviations above a moving average in this case we use the default 20 period moving average on on the bollinger band so what we're going to do here is we're going to get rid of those two and move into our discussion now we know we're looking at we're looking at volatility via the be a standard deviations on the bollinger bands and we're looking at how tight that width of those bands get now that in and of itself is pretty cool this is very tight in here very tight in here that's not always going to be the case and then if we consider well that's great it's tight which way is the momentum showing right number one we've got a trend that's been up and then it consolidates we just went through that consolidation rectangular uh shakeout in the way of uh the these price dropping uh dropping to the dropping below the lower band rallying back up and then we have we take a look at the momentum in here and as this was starting to break this whole area in here for the rsi this is the setup this whole area in here as this is drifting sideways in here the rsi really never got below never got down to 40 struggled just to get below 50. every time it um drifted into uh into this lower band or we know now into those uh trend lines that we drew uh that we had the dip into in just below 50 on the on these areas so that becomes an important area and then what happens it moves up and as this starts to break this is kind of the important thing to think about when we look at rsi one thing to consider on rsi is when it passes 60 this is the 60 level when it's passing 60 in 65 that's considered bullish uh and as it breaks out we consider that to be a possible indication uh or technicians consider that to be a possible indication of new trend taking over so eddie says look to see if the price is in the upper or lower part of the band yes look to see how often price stays above your the middle part of that whatever consolidation whether it's a triangle or a rectangle as well so that's a good point uh to put out there could the reason it's not breaking out is investors are waiting for retailers to start it yeah so yeah there's we'll find out so that's you know we can make assumptions and that's how we make our trades but this barring making assumptions we use some kind of a method to get in so our entry point on this one would have been when price from me and again this is not a recommendation this is just how many may do this when price jumps up after a squeeze remember this just shows the distance between the upper band and the lower band in there when that squeeze is tight doesn't have to be but we'd like to see it fairly tight and then when it breaks out here and we have the rsi showing us momentum trending momentum and we then at that point you can start to uh put your trade on okay and if we come back over go over to the next chart we can see here this is where we are oops this is uh peloton sorry peloton so we're going to look at an another example with peloton and without going through all the all of the uh uh discussion on on uh geometric patterns please watch the uh the archives for that what i'm gonna do is just this is just to show this is just an example again of what we're looking for and let me widen this out just a skosh peloton so you know it's been the stay-at-home kind of stay-at-home thing so we have the squeeze we have the bollinger bands squeezing in we have the bollinger band width showing us that that squeeze right here is the tightest one we've seen for a while any time that this is down in this lower these dotted lines it is at the lowest point the bone the volatility is at the lowest point the squeeze is the tightest between these bands over the last 150 days so you know we're using time when we think about uh when we think about technical analysis it's uh price volume uh time momentum sentiment and that's why we always look at the breadth for and other sentiment indicators uh as we you know do this on a daily basis so we see here we have this squeeze right and then we see that um the bone or the the price popped up and go back over here pops up into the upper band so it's coming out of its squeeze it's breaking up into the upper band at the same time that's occurring we have an indication of bullish trend when we look at this whole this whole consolidation period in here up in here when we look at that along those bands we look down at the rsi and it's showing even showing strength and momentum even though price was not going anywhere really for the longest time the rsi could not get below 50 showing us uh that momentum was still intact and then of course as we watch what happens as it jumps into that upper band starts to run oh pulls back to the 20 period moving average you recognize that's going to happen a lot of times when you break out above the the bands or above some kind of resistance it's a breakout expect some kind of relaxation and to do that to look at that we're going to zoom over here to one without the bollinger bands and draw in the resistance lines so it breaks out runs pulls back finds support at at the old highs in here but also at that 20 period uh or the middle of that bollinger band right there so some strength in there so the if this is a longer term trade you have to kind of hang on to it okay great those are some examples let's let's take a look at what's going on uh presently uh as the market continues to flounder around let's pop over to the next trade so this is jk solar jks jinko solar excuse me jks s and here do we have a consolidation yep straight sideways it came down to the uh to the bottom band rallied back up so we have uh a situation here where price is banging and and jumping back up to the upper side now it did not come all the way down to this um dotted line let me squeeze these up a little bit here it did not come all the way down like i said it doesn't have to come down into that dotted line all the time you just need to put all of these things together that makes sense do we do we show momentum or do and do we show the lack of volatility because why do we look for lack of volatility when we have low volatility begets high volatility small range days and in price often times are followed by long range days in price and when we're looking at price we're trying to capture those long range moves right that's the whole point of what we're doing so here it is hitting that upper band we're seeing the bands widen out and we have the rsi right now above 65. when we look back in time
and let's move over here to uh another area over here so we can see again when we draw those lines the importance of these little shakeouts sometimes these are bigger but this price right here you know two weeks ago undercut the other areas of support and uh shook some uh shook some folks out volume along the way as it pulled back in we saw volume here coming in as it started to rise volume picked up so we have some some looking like some buying going on and now we have this breaking if we wanted to draw a line across the top there's your descending triangle a descending triangle okay so how did it get here failure to get above the climactic top now it isn't done there yet but we're now starting to break into a new trend as this breaks into a new trend now that the dynamic nature of trend lines diagonal trend lines this is now turning into a rectangle right and so they're just going to morph into these these different things we need to take note of where we're planning on and where we're willing to take action so if we're going to take action on this one noting that it is using some kind of a system in this case using the i'm going to take this volume off using the bollinger band the bollinger with bandwidth and rsi this would be an area that somebody would consider being a buyer why because oftentimes when they do that they when they're looking at this they're expecting price to walk or ride that upper groove that upper that upper curve on this so we're going to put a trade on on this and to do that we're going to look to get in at 71.10 that's a little bit above where we're actually going to go ahead and buy this right now as i was just typing this out that's where price was trading we're going to exit out at 55.90 this is that's a quite a ways down but that what we're using for an exit is the 20 period moving average that's in the middle of these bands if it breaks back down below that it's probably it's a good chance it'll reach back down into this lower band so we're going to use that as an exit um we're going to look to take profits on this one we're going to look to take profits as it gets up to this old high here so this is a we're going to do a one cancels other order we're going to get in now we're going to look for price to get up to 90 if it gets to 90 we're going to close the trade out if it drops to 55.90 we're going to exit out of that with a stop loss no guarantees however that that stop-loss will trigger at the 55-90 area to do this we're going to pop over here so let's take a look when you get in now we're going to have a a a downside stop of 55.90 an upside uh limit to exit out taking a profit and we're going to do 129 shares so i'm going to come over here to the trade tab put in jks close up the and you can use this with options i'm going to right click right here that's a left click pad i'm going to click on this number here and we're going to come down here to buy custom oco bracket let's take a look at that again buy custom oco bracket when we do that it allows us to automatically put in our limit order to take profits as well as our stop loss to set up a market order to get out at that price or lower remember that's why there's no guarantee so we're getting out getting out at 90 getting out at 55 90 129 shares and it's probably a good idea to write down all of the things um that uh you are expecting or your your your tactics your strategy and what you expect to happen as well as uh what happened at the end of the uh at the end of the uh trade okay so i'm going to put these in here so first of all we're going to come over here we're going to say we're going to do 129 shares you can do half on breakouts so that would be 65 shares uh if you if you wish so make sure all those say 129 you can actually use this link up here to make sure they all come in alignment uh this little uh chain link and then we got getting in it to uh getting in at 78 getting out at 90 on a limit order good till cancel got to get that good to cancel in there because if you don't it stays a day order like this one below it or this one above it day order gets cancelled at the end of the day and if you're in this trade then you no longer have a limit order to take profits at 90 and you'll no longer have a stop order to get out at 55.90
so 129 again you can cut that in half because this is just starting to get going what do we know about breakouts breakouts have a tendency to pull back if they pull back you're going to feel experience some some pain if you have a full position on that's up to you so 60 65 shares would be half a position and then but this is a very short term trade you may choose to put on 129 and when it gets to say 85 take off 65 shares or somewhere along the way or a third along the way but use proper money management ideas in these trades we're going to hit confirm and send make sure we've got everything where we want it and send that off and we are filled on jks so yeah eddie you can definitely use options on this uh remember options have uh have time decay and so if they don't move as far and as fast as you need them to move you may use different money management rules on that if you're buying options if you're selling below the market then you're going to use the probabilities uh to make uh to make those trades so there we are let's see what we'll just have to watch and see what happens here's uh paylocity paylocity looks just like the last one we looked at right uh and it is drifting side this one had some interesting action going on and you can see here's a great example of when this happened the last time so we had the squeeze and price coming into the upper band we had showing us a low squeeze and then the rsi moving above 65 and you can see how this walked the wall up here rode that upper groove as i like to say for the uh for the nascar folks rides that upper groove and uh take profits now this one we don't have really any upside targets necessarily this was very interesting in here so when we look at this where do we know there were some issues right here right and so we could look at this whole sideways action in here this is really triangular as well when we look at the diagonals here triangular but now it's morphing into a rectangle everywhere in there some where and there's a rectangle and so you can see how these patterns develop over time static when i say rectangles those are static lines right they are pl places where price has uh support and resistance has touched several times and they're horizontal so horizontal lines are stagnant but we have all the makings again of something walking starting to walk that wall so we're hitting the upper upper uh upper band we've got good volume coming in as it starts to move up here above the 50 period moving average uh we've got this squeeze going on and we have price or excuse me uh momentum starting to show some strength and we've never lost much momentum as it held the 50 period in here that's by many considered to be a signature of the rsi to show bullish trending tendencies and now we have this upper band so let's put a uh let's pop over here and we'll put a trade on we'll just draw some of these lines in here as well and show you where we are now this one uh you know it's at all time highs you can you can project where the fibonacci projections might be i've done some things on that but this one we're just going to kind of consider and treat as kind of a trend trade so what we're going to do we've got how many shares we would buy over here so about 50 47 shares 50 shares this is a 211 dollar stock we're probably just going to buy half of this because we're going to give it we're going to give it a lot of room because we're expecting this to possibly trend our entry is going to be pretty much right where it is right now it's actually a dollar higher than where um i started looking at this uh before the webcast we're gonna exit out at 182.39 where is that 180 239 is this last swing low so your your stops have to be objective there has to be something that tells us hey if it's there we're probably not correct in our assumptions and we need to cut our losses short okay so uh that's where we're going to put our stop one percent below the low of that day which is 182.39 we're going to buy and we're just going to buy 25 shares so we're going to come over to the trade tab and put paylocity in there and here we're just going to right click again come down to buy with stop and that just gives us two uh two options and we're gonna put down here in our stop one eight two point three nine that's going to be our stop or excuse me oh i thought i changed it there we go buy custom and stop is going to be 182 and we're going to get in where it is right now we're going to buy not a hundred shares because we would be over uh over pri over positioned on that we're just going to start off with the 25 shares nothing says you have to buy a hundred shares do what is uh do what is appropriate for proper money management we're going to get in now we've got to stop at 182.39 we're going to change that stop to a good till cancel order so it stays in place and then we're just gonna hit confirm and send okay so what i want you to do is i want you to go and practice this idea practice this idea out there and you know over the over the holidays take a look at this do it in your paper account these are just paper trades they aren't recommendations let's move on and see what else we've got here so albermarle so here is one that fits again this is kind of in that renewable energy space these guys you know they're they're mining in uh they're they're in the mining space but they do a lot of lithium and there's several other lithium companies and you can see here out there as well but this is one of the ones that people pay a lot of attention to this is already been through a breakout right and now short-term consolidation as it wants to break to the upside on this one so this is something uh that maybe uh somebody might consider again we have a very tight squeeze and we can depict that with the uh the bandwidth showing us that's the tightest it's been since the last breakout which was a much longer consolidation this lit length of this last consolidation may actually be indicative of and you can see we've traded this before maybe indicative of uh the distance that it can possibly move this long sideways action there may be a lot of trend left in this one so where would you put your stop on this what do you think where would we put our stop if we've got this real tight consolidation in here not a lot of room so right now it's 146 this lower bands at 131.
if we go if we're looking for a trend on this then perhaps putting the stop too close isn't the wisest idea you got to give it room to move and maybe you want to do something below where this lower band is trading right now do we have everything else in alignment though we've got volume picking up that's good we've got the squeeze we know that and how about the rsi rsi is 60 at 69 in trying price is trying to break out so when we get above 70 on breakouts that again you can see here this whole time it's been out here we had the rsi go into space we know that once it gets above 80 there's probably a little more upside to go like it did and then it's relaxed and now it's trying to make another move to the upside overbought for quite a while there's no guarantees of course uh so with this one here you might put your stop at 130 so let's say 130s get below that lower band where it is right now so if it's if it's trading at uh we use a stop of 130 and it's trading at 146. 70 and we said well i'm going to risk i'm going to not risk but i'm going to put 10 000 to work here we're going to take 10 000 and we're going to divide that by 146 and that's going to give us this is a different way of figuring how much how many shares you want that says 68 shares so we're going to make this a trend trade we're going to make this 30 shares with our stop at 130. so we're going to get in now everything's in alignment yep did it again okay let's try this again here uh oh i think i'm freezing up here well my trade tab is now frozen so we're going to have to forego that but that's the idea that's the idea so what do we what what are we looking for we're looking for those tracks in the sand what we understand is that usually there's some kind of calm before the storm they like to say in this case there's oftentimes small range days which we've talked about before small range days before long range days and once we get that long-range day in the direction of our assumption then perhaps we have something here we have volatility very tight and picking up so when volatility goes from low volatility to high volatility and we're getting uh momentum going from uh calm momentum and we're starting to see momentum ramp back up putting the uh putting these ideas to uh to work for uh for us in these situations so with that uh coming up next is technically speaking connie hill uh today so um and always uh this at this time trading stocks and options so there were some questions on options in there get with connie trading stocks and options is technical analysis as well she'll be showing some of her techniques she's another chartered market technician like myself now uh if you liked what you saw today please give us a thumbs up if uh you would like to share it with somebody you think can get something out of this or somebody who's just learning please share with them let them watch the archives get them to come to the the live classes uh and if you haven't subscribed to you or this youtube channel please subscribe to this channel as well if there's a survey in uh in the chat please fill out that survey we use it for uh your comments and those things to try to develop uh better ideas better webcasts and we you know good enough never is really just like in our trading so let's always try to get better i appreciate everything you've done remember that everything we've done here is for uh educational purposes only and the education today was how do we combine volatility and momentum when is volatility our friend how do we define it as our friend when can we define uh changes in momentum changes in momentum changes in volatility using the rsi and the bollinger bands can help us uh maybe put on lower risk ideas and that's what those example trades hopefully were we'll see out there in time now with that remember you're responsible for your decisions made in your self-directed account and everything we've done here is for educational purposes only thanks a lot everyone we will talk to you soon [Music] you