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do you know what the one big question i get when i  introduce myself to people who don't know me and i   tell them i teach people how to trade stocks and  options and i do that you know one because i love   it the one question they ask over and over again  i'm going to reveal it later on in today's video   it's time for on the radar we'll be covering  a couple of stocks we'll cover the indexes   and also i'm going to answer that question  which is how do i get started trading stocks   so first time you join us on youtube please  subscribe hit the bell and they say you're not   supposed to say that but what the heck um and  also leave comments let me know how i'm doing   thumbs ups are always good and share our videos  because they are valuable aloha let's get started okay well there's the bell the session  is closed for the 17th of november 2021   uh we'll check to see the market was doing i  won't say i'd call it a sell-off but it certainly   appears to be at least uh i won't say  stalling in place but kind of stalling   in place so let's get on to today's session so  we can say what's happening with the indexes uh   and answer that question we  answered ask in the intro   so the spiders what's going on with the s  p as you can see the s p is looking fairly there you go it drove up after pulling back last  week uh this was um wednesday of last week it   rebounded and went all the way back up and tested  the highs now today what's happening we're getting   kind of a uh we'll have to call that a bullish  correction of bearish harami on the small body   inside of yesterday's candlestick what does  that mean well a couple of things it could   mean one is we're getting some negative divergence  here the tsi is kind of running sideways   the and i'm not going to talk about  stochastics right now we're looking at   implementing some of the stochastic uh triggers  in uh comparing it with the other momentum shifts   uh just as an extra clue but again we trade  off of price action not the uh not what the uh   not what the uh indicators show us indicators are  just basically for confirmation only so what are   we looking at you know basically still growing up  uh the the downtrend has not been broken we but   however we did get up into the past resistance  and it stopped we couldn't go any further   basically that is a brick wall that until it  is broken we are not going to be going any   higher with the uh with the s p so that's what  we've got going with the s p what about the the q's okay nasdaq similar  type situation pushed up   didn't quite make it up to the  past highs but as you can see   nice little pull back into wednesday of next last  week then thursday friday monday tuesday wednesday   but we push higher and then we're closing  with what a spinning top doji uh which is a   sign of of indecision and or time to rest this  could also be reflective of a a doji sandwich that that steve bigelow talks about where price  action will oftentimes come in put in a   a just a basically a day of rest and then take off  from there if this is a doji sandwich we'd expect   the next green candle immediately following  it to be about the same range as the one from   tuesday what else are we looking at summary  type situation where we're getting the tsi   crossing back up and bouncing off the zero line  i'm sorry the market forecast tsi did cross   up to the upside but as you can see it's kind  of stalling out we always want to look at our   uh our once we had a powerful move like  this pull back and then here is the next   rally attempt where is it going as you can see the  next rally attempt is only getting back up to the   around the past highs if we stall out  there then anticipate a move back down   to a lower level and what we may get is you know  a one uh one leg down two legs down rally back up   three day legs down and then i would anticipate  we could get all the way back down to here but   we're running out of year if we're gonna have  a end-of-year rally it it basically we've got   two weeks left about two weeks left in uh no  one and a half weeks left in november and then   we get into december so price action just  you know are is looking okay the thing that   kind of spooked the market today was the  the concern over what over inflation and   so we'll see if that continues to be the case  there's a lot of moving parts out there in the   uh the economy and there's a lot of moving  parts on the market you know it tends to be   a a market of stocks and we're going to be  looking at one of our trades that we put on   a couple of three or four weeks ago in atkr and  i'm also going to be looking at what's going on   with bitto is it time to buy into bitto at the  current low what kind of pattern are we putting in   what can we compare it to uh moving on what about  the russell rust fat are really not again russell   broke out a couple of weeks ago from this trading  range as you can see that dotted line right there   at the 234 53 level is that range so we're  going to pull back into the breakout area   it may not go any further than it's at right this  moment in time it may drop down here to the 34.   any type of a pullback into these  areas then could result in a   a turnaround and move higher a couple of different  ways to look at trading this one wait and see if   we go down a little bit further the tsi is saying  yeah i may want to go down a little further   what's going to happen when it gets down about  the zero line which is often a turnaround area   and t is on the market forecast you can see  just slightly cross through the upper reversal   zone at the 80 at the 80 point and i'll be  looking for some kind of a reversal signal   again it will probably happen intraday so i'm i'm  not going to really trigger into a trade on this   i will have some alerts set if i drop down  to 232 ish uh or even look to trade tna   but where do i want to trade tna i want  to trade tna if it gets down below the 100   dollar mark if i get down to about 99 bucks  then i'll look for a reversal back up to the   upside with the you know what's showing on  the tsi right now uh i want to wait for that   momentum reversal on also to show up on tsi  but it will typically show up first as a   reversal candlestick followed by then a  momentum reversal on the uh of the indicators   if however we get a and let me show it to you it  was called a three two line cluster on the market   forecast where both of the uh short term and  uh micro momentum lines drop into below the 20   level right there that would be a two line  cluster and the rule on two line clusters   and three line clusters is once they happen  we're looking for a reversal back to the upside   between one and five trading periods this is  a weekly chart we're looking for it between   one to four excuse me if i said three but one to  four trading periods after that that reversal can   start though at a lower level so we never want to  try to fade a position especially when it hasn't   shown us it's ready to reverse with the reverse to  the upside with the uh price action price action   so that's what we've got going on there nice  little pullback though excellent pullback the   uh get rid of the drawing drawing let's grab  here and grab a we can take this as a flag line and why am i doing this on the the the uh   russell or iwm or tna in this case why am  i doing it this on this is that typically   traditionally and i'll do let's go to  iwm because that is the non-leveraged etf   similar type situation draw a line across the top  there typically during the final um the the the   christmas rally that happens typically every year  around christmas time um the russell normally runs   at a larger percentage gain than the other  indexes again that is the seasonality that is the   the the what typically happens now does this  happen to have does it have to happen every year   no it does not but that is typically what  takes place so i'll be looking for one   uh a move above the high of the low day which is  today which should bust it out above the trend   line or i'm looking for a little bit more of a  pullback uh you know i pull back below the 20 line   and then a retaking it that would be a bit also  a very positive positive sign so let's go ahead   and jump over and look at a couple of stocks  one stock that we were looking at is let's   see how it's doing and i always like to show you  you know exactly hey here's here's the trade we   we did and here's what's happening with it am  i going to just be able to find a darn thing there it is okay atkr atkr did have earnings when  oh i'm sorry it's before the market opens tomorrow   tomorrow so i apologize for that i was going to  show that and show this to you one of the things   i anticipated doing though is we basically  got into this trade down here about the 90   level 90 and 50 cents we wrote it up we took out  profits of 10 percent we pulled back we pushed   back up and then what i did for our members  was i said okay we have earnings coming up   before the market opens tomorrow so we want  to be taking some profits off the table today   so here's the way we set up this trade we took  off profits at you know like 10 minutes before   the close at about 103 dollars so we went  from 90. 91 up to 103. so about 12 14 gain   took those profits off the table i  left a quarter of position in place or   you know what if we get blow out numbers  i want to participate in that but i can   fall up to 10 and still be very  profitable on the overall trade   but i just wanted to keep that open as a potential  trade for me so that takes care of that that gives   you the idea of what we're trying to do and  what i try to do with the autopilot trading   service with active trend trading another one  that we have been following specifically is b-i-t-o now as you can see bitto came public when  the week of 10 18. and i highlighted at that point   to say okay right now we are working within a  range we have basically fallen down from the   highs of about 44 down to 37ish how about how  big of a move is that let's just throw one so   that's about a 16 17 percent move i guess i'd have  to do it the other way to find out yeah there we   go let's grab that so about a 14 loss so far from  the high uh at the same time though i have a we as   the candlesticks have filled their way you know  been filling their way out across the the chart   we've gotten to a place where  we have a pullback we have a   bullish harami polisharami i do not have my  indicators functioning totally yet because i don't   have enough data in the system so i have a bullish  harami which is oftentimes a reversal signal   now can it reverse from where it's at and move up  sure where's my upside target on a situation like   this my upside target would be back up into the  at least the 20-day moving average i found a 4.8   move to 5 the one thing i like about bitto  and i you know that i announced when i   first highlighted it is it has weekly  options it and with really excellent bid ask spreads it has excellent strike price  spreads and they offer weekly and they're   offered on a weekly basis and so that's that's  excellent so what i'll be looking at doing and   for this particular entity is i would  like to be looking for you know do maybe   a spread that would be you know out around  17 december where i would just do a simple   little two dollar spread maybe maybe uh and  i like the uh 17 december 39 to 41 dollar   bull put bull call spread that's a debit spread  and i can pick that up for about 90 or about about 75 cents somewhere between 70 and 75 cents  and that is a very very what i would consider a   low risk type of trade um you could you could  load up with 10 10 contracts and you wouldn't   lose more than 730 dollars but you give an  upside better than one-to-one ratio to the upside   i always go back and i double check there  are two entities you want to double check   biddo against one is bbtc that is the uh that's  the gray scale bitcoin trust that's an etf and   what's it showing us okay basically it is an  uptrend and its price pattern is very similar to   bitto bito what do we have on it  today it is showing a bullish rami   looking to move back up off of the 34 day  moving average the moving average is on gbtc   and that's golf bravo tango charlie um are  basically reversing and turning back up   as you can see i've got a two-line cluster  to happen yesterday on the market forecast   oftentimes tsi will reverse and re turn back up  at the zero line now if it falls and drops down   below the uh the 50 and i was in a trade i would  jump out of it this is also one of those that i'm   looking at how can i add to a position that i  already have for my grandkids i'm buying vito   in for for my grandchildren and basically i'm just  doing a few shares a few shares every month and   just building that up for them who knows could be  could turn out to be their college fund we'll see   um the other thing i take a look at is because  bito is based off of the uh bitcoin futures i   want to take a look at the bitcoin futures  what are the bitcoin futures telling me well   something similar i found support and again  what do i want to do i want to look to my left   and what do you see it's sitting right it has  come down right squared up on top of a pass   level of support bound support reversed now let's  see if it will power on back through those areas i'll have to check that out after hours i do  not trade the futures on on the bitcoin futures   however i will use the chart of the futures  because it should be fairly close to emulating   what bito is doing as you will and since  they are linked together that's why you see on bito on bo bito that's why you see the big gaps because they it  is linked back into the futures   so that's what i've got to show today and so  hey let's get ready let's get ready because i have a little segue into the answer to the  question i posed during the opening of this video   as i promised here's his answer to how to get  started trading stocks it's very simple one you   have to have a plan and the plan should be to  basically start reading all you can about how   to get started trading stocks one of the best  books i've found is this one by matt galgani how   to make money in stocks getting started based on  the can slim method from investor business daily   uh excellent read uh it starts off with how to  protect your money and so many other trading books   they don't they show you the house of trade and  all that kind of stuff but don't really set you up   to be a winner this one sets you up to be a winner  uh there's a link down in my in the description   that shows you exactly how to get this book on  amazon aloha if you like these videos hey give us   a thumbs up refer you know refer them on to your  friends we appreciate that and my intention is   to help you grow your wealth so you can achieve  financial freedom so aloha god bless everybody

2021-11-26 16:00

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