Nice Follow-up Video On Trading The Iranian Conflict

Okay, welcome back everybody! Let’s go ahead and cover a couple of things with you. First things first, let’s go ahead and pick up where we left off in the last video about watching out for false moves in the oil situation over the Iranian conflict and sure enough, we talked to you about the previous time when this Saudi oil fields were bombed how from my perspective I was not willing to go ahead and get long on this because of the fact that we still had this predominant resistance in the backdrop. Well then, sure enough, leading up here to where we were from the last several days here we are – all we did was we gapped and pushed right back up into that predominant area one more time and then you can see we started to actually lock in distribution bars so then, even with the push up all it did was it traded up into this area only to go ahead and come right back down here and because of the very measured move and the seemingly almost purposeful attempt not to go ahead and have any US military casualties on our end, that would push President Trump into really needing to push back again. So, a lot of people say, “Well, maybe this is it for now.” and so that brought crude oil right back down here again. So, armed with all this information I stand by what I said in my last video and what is proven to be the case even when I set it back here during the September crisis with the oil field bombing, I said I wasn’t willing to go ahead and jump in there long sure enough if you did that you sat on dead money or up to a twelve thousand dollar loss and then headed basically go back for three months just to more or less breakeven or make a few bucks ultimately if you pay up in a sell-off here which evidently somebody was very interested in liquidating at that point that since it drove us down several thousand dollars per contract in value. So, all things being equal, crude oil right now is a big goose egg.

This is why I did not want to go ahead and get too aggressive into the long side ETFs like USO and that. I was looking at that because at this point here goes crude and here goes the USO and same thing – we had all that resistance up here as you can see with USO as well. That’s why I wanted to see a USO break through these areas pull back show that support and then take back off. So, none of that’s happened so no USO long side trades. But let’s talk about long side trades in general. So, long side trades in general, I told you was the focus and I really wouldn’t be looking for short side traits until we could break down – I showed you guys in the previous video that were so strong on these rising support levels that we hadn’t even touch these for months even when we got down into them. Statistically, you have an extraordinarily high probability that first touch down there is gonna be massively rejected and even on the Russell which had previously hit the top end of the channel and the midpoint of the channel went to the bottom end of the channel and got rejected and that’s the weakest of the bunch! All the rest of them here as you can see hit the channel, Dow popped up nicely didn’t even hit the channel and the Nasdaq went ahead and popped off nice and violently here. So, where we’re at with this, brings me back to the overall strategies I prefer to be long than wrong in this case and on the short side until we broke down below these channels – I told you it was just not the right move from my perspective that’s proven out its point once again and the thing is – this isn’t a I told you some video this is like all the other videos meant to be educational, talking about what I said in advance and then what happened afterwards so you realize that you can learn these things too and be smarter investors and become better traders and that’s why my company is “Become A Better Trader” not “Become A Master Trader” not “Become the Best Trader on the Entire Planet”, you know, And all these other things. But become a better trader.

So, with that being said where we’re at right now is this brings us right down then into the intraday basis long side. It’s long side or bust right now really. In general, these long-term supports are still holding up very well and as long as we don’t start getting down below those channels I prefer to be long side trades. So, we take that down for instance into an intraday environment here. So, we looked at USO there on the daily chart a little bit ago and so now let’s go ahead and look at in the intraday basis. So what you have here, you have your end of day, you have your strong bullishness in the backdrop, you do have the negative divergences that we want to be mindful of – that’s why we’re not just jumping into anything carelessly or recklessly long. It’s got to be a good long opportunity and, of course, one of the things we’re finding is some of the best long opportunities are these intraday trades where the market goes ahead and panics and doesn’t focus on the bigger things I’ve been sharing with you. They go ahead and they panic which if you’re chasing after that short you’re chasing after a unicorn and not one that you’re gonna like catching and it’s more likely to stick ya! So, what you’re looking for is happy unicorns and happy leprechauns and so one of the best ways to find those is go ahead and focus on trading with the trend and then bringing it down on the intraday basis you can see here like with my ITP indicators we went ahead and we locked in a green dot and then a yellow dot and when we locked in the yellow dot we also had a double green at that point when we have double green I’m looking to see if we have two blue momentum indications and then I want to be blue and blue on the triggers at a minimum. Now, it’s even better when you go ahead and then have throttling. We didn’t have throttle initially we had throttling once we got back over to here finally and then that led to a nice continuation move and these were very big moves if you’re looking at these areas here from the 3248 -3250 area the initial move up here was around the 60 62 area, so, roughly about a 12 point plus move 12-14 points initially there and then after a pullback it went ahead and fired off fresh signals again. Another green dot, a yellow dot but then from there after you get your green and yellow dot, the next thing you’re looking for is ideally a single green dot or right to the double green dots which we’ve got the double green dots right over here then, we went to the double momentums and then we went down here to the triggers here as well.

So, if we look right down below you see we had everything going ahead and firing off. Triggers, momentum, everything, and then off to the races it took right back off and jumped from roughly the 58 area it went up nearly to the 68 area. Almost another 10 points in the S&P.; So, a lot of value opportunities here just trading my ITP indicators, basically the culmination of my life’s work, you combine with the strategies I shared with you in the last video how really preferring these long side trades and lining up the higher time frames and the bullishness there with fresh buy signals on like an intraday basis for instance and sure enough, we’re seeing all that come to roost or just like over here we have the buy signals all over here on the daily chart of the S&P; so pullbacks with into those trends with W pattern buys like we had right here. Full spike buys over here. Those are all fresh reentry opportunities when you’ve had the ITP indicators going in firing off in the backdrop but you can combine the daily charts and those intraday charts those are some really powerful strategies helping you avoid some of those unnecessary losses in things like USO and that when you’re not paying attention to key resistance in the backdrop and, of course, things like rising prices higher highs there but not higher highs in the fast trigger. So, you got the divergences and sure enough, it all came crumbling down today with currently the big nothing burger with the conflict from the missiles being launched overnight.

So, hopefully, this is tying everything together. It’s an extended video to try to bring together what I’m looking at and why it’s still at this point I’m only preferring and focusing on long side trades rather than the short side trades because of those massive support levels I’ve been telling you about are just so powerful it’s going to take more time, more eating away at those and probably some sort of catastrophic incident with Iran before we start worrying too much about getting below those and making it a better place to look for shorts. In the meantime, shorts more likely to go ahead and get your head handed to you as you can see and as we kind of proved out here a little bit ago. So, prefer to look for the market to get right back into that trend with fresh ITP buy signals you guys have a wonderful night look forward to seeing you in the live trading room and look forward to going ahead and seeing you at upcoming videos here take care of everyone and don’t forget to go out and see me, Ziad, and several other great traders and investors at the upcoming Wealth365 summit. That’s gonna be well less than about ten days now. So, a week from next Monday. I’ll be speaking there, Ziad will be speaking there, and a lot of other people. It’s gonna be a pretty big deal so go to wealth365.com/bbt so I can see you there for that very special event too because that training I give you during those events always ends up coming back and we see it and follow-up market activities. So, it should be a great time with you guys. All right, wealth365.com/bbt and thanks for being the world’s greatest students and we’ll see you shortly. Take care everyone. Bye-bye

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Rob’s trading strategies given the latest Iranian conflict

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