More great live trades and trading opportunities again today

Okay, welcome back everybody! Well, exciting times here in these markets and for all of you that joined us the other day in our special Active Trader Room event you have seen a lot of trading, a lot of action, a lot going on. So, we went ahead and today the focus here was to go ahead and actually primarily focus on the short side and the reason being is because as we came into the U.S. session here we fired off a ton of sell signals with my ITP indicators. So that led to a really nice sell-off right at the US open and that was basically the story for much of the morning session actually was focused on the short side and as all of you that were watching live on the screen in front of you this morning you went ahead and saw you know a profit being earned from those endeavors and so really great stuff and really glad you guys were with us.

Now, as we go ahead and take a look at what’s happening here with this market – so we’re at some really key points with the despite so big things and watching right now. We’re making a higher high on the in price on the SPY but you’ll notice that we’re making a lower low in the indicators. So, I’m a little bit out of shape about that. We’re pretty high here in some of the overbought, oversold type indicators, the oscillators are, the triggers are, as you can see negative divergences right now. So, I’m gonna be watching this a lot. There’s been a lot of wins for President Trump here the last few days, Coronavirus is still lingering but, what we have here is a market that effectively this time came down – the last time it came down hit the midpoint of the channel- bounce. This time it hit the bottom end of the channel but it’s still held. So, skipping rock theory is still holding here we’re hitting the major levels bouncing and we’re still bouncing and still bouncing at this point. Now at this point, again, we’re kind of making almost like a negative divergence here because you see the indicator is making the lower low while the price is making higher high. Statistically, it means were due for another pullback. In general, unless there are isolated cases like this morning where we open up high and then sells come in for some short-term profit-taking we’re gonna go ahead and be focusing on long side trades. Again, the beauty is there are these individual pockets of short-term sell-side trades generally keeping the size smaller keeping your wrist tighter and stuff like that and you see how if you’re in the live trading room today, you saw walking away with a profit on the day with that happening with that strategy. So, going into tomorrow morning session here to close out the week strong, the focus is going to initially be long. As long as we stay above the fast trigger we’re gonna be looking for primarily long side trades. If we start to break down below that trigger, that speed line, and start pulling back down towards the slow speed line then we’ll see if we find some more of these types of trades where we fire off a lot of indications to the sell-side but in the big picture which you’ve heard me say time and time again in the last several days is really as long as we stayed above these key levels, if you remember, there’s a 322 level on the spy that I talked to you about previously and we stayed above 322 and did not break through down there and then make that resistance if we did that then I would be extremely bearish and really be looking at options plays from a short side perspective but at this point, it’s long side or bus still at this time from a swing trade basis as long as we hold the channels. I know I sound like a broken record but that broken record keeps playing the same song over and over with the same result and you guys followed me here for years you’ve seen how we use these different tools in conjunction with each other time and time again and so what I’m also looking for here I want to start seeing before I get too awful excited about like aggressive longs, I’d like to see us start firing back off into acceleration alerts and RTI alerts. (Rapid trade identifier) alerts.

So, we don’t really have a lot of that firing off right now as you can see. So, gonna be looking for that to also be taking place so I’d say I’m cautiously optimistic and focusing on long side initially walking in the door tomorrow morning if we break down below the speed lines when the speed lines open up tomorrow then I’ll be looking to see if there’s an opportunity for a sell-side trade like this that takes us down to at least the slow speed line so that’ll be a short turn opportunity guys if you watched this morning the live trading room you saw how profitable that could be and then from there I’m gonna go ahead and just be in general focusing long. So, it’s a pretty straightforward strategy here – long until such time as you no longer cautiously long until we get down below 322 then be looking aggressively short but we’re holding those levels that I’ve been giving you in these special updates so that’s basically where we’re at if you guys have more questions, more markets you want me look at, let us know and we’ll bring those up in the videos to come. If you guys are not part of the live trader room already if you made a mistake, you forgot, you missed it the other day, then what I would encourage you to do is go to becomeabettertrader.com/atr so you guys can go ahead and be part of the action. It’s not just a day trading room as people have found out the last several days, we also have the swing trading focus, we have swing trading alerts that get posted and there’s whole segments on swing trading – we also have the options focus and an advanced technical analysis focus as well. So, we have all these different sections focus and just a lot of trading going on these days. So, go to becomeabettertrader.com/atr you just read about some of the things that are there – it’s an all-day room now you know huge reports that come out on the weekends the swing alert idea, it’s just a lot of stuff, alright? So, I’ll let you guys read about that and it’s a hugely discounted price over the normal 997 dollars quarter it’s only 197 a month right now with all those benefits. So, a lot of value. Alright, you guys have a wonderful night, see you in the morning the live train room if you go to becomeabettertrader.com/atr and we’ll be practicing more of what we’ve been talking about here in these videos. We want you to come see it for yourself! Take care, everyone. Have a great night. Bye-bye! English

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