How Rob Followed Through On Today’s Incredible Trading Session

Well, gang that certainly was an exciting day…wasn’t it? Well, as we go ahead and kick off here first let me go ahead and say welcome to all of our new student family that joined us over the weekend and bright and early this morning. They got to go ahead and see exactly what we were talking about here in action. If you watched this weekend’s video you know that about 8 minutes and five seconds, yeah it was a long one here this weekend looking at a lot of different things, we went ahead and we talked to you about the strategy going into this morning’s markets. What we are going to be looking for was a long side trading opportunity that will be followed by short side trading opportunities from there. Well, sure enough the market did not go ahead and disappoint. The European session moved to the downside here and that set us up very nicely for that long side retracement.  In fact, what happened was right at the US opening I came out and showed people how we were having these HUGE gaps. Look at these gaps this morning-these were not even the worst of it. Sometimes the gaps were 10-20 ticks in nature there on the trading platform. It was so wide and indicative of a huge panic. You can see that there is no size on there. One, two, up to three contracts. So that was indicative of a market getting ready to reverse.

I went ahead and did not focus on the short side there. All this was doing was giving people what they were expecting. If you looked at main stream media this morning. We talked the other day about main street media on Thursday going ahead and actually talking about buying indicators that were telling us to buy stocks. Here it is from Thursday morning right before the major selling happened. Here are the two indicators telling you to buy stocks. It starts with that. Now all of a sudden we have a Wall Street meltdown right at the open this morning saying it is “The end of the world as we know it”. We have FOX news and NBC all of it showing this bloodcurdling end of the world as we know it. So what happens from there the market gives people exactly what they are looking for. They give them that nice little route to the downside that makes everybody that wasn’t convinced yet to short or sell their longs. Gets them off the fence to the downside. What ends up happening from there is I am telling people that I am not shorting here. This is not what I am looking for. What I am looking for based on that price action and the dome is for a reversal.

Now if you watched my video from this weekend and we told you that we were going to be looking for that 3 Musketeers trade to the long side and that went ahead and happened right over here. The market shot up very nicely form there a few hundred ticks, that’s a couple thousand dollars a contract! Then it pulled back and we were looking at stochastic spike retracement trades. Which then bounced up very nicely again. Then we had the plan going into later this session to take a second 3 Musketeer trade over here which happened once we broke out of these previous inventory retracement bars. Really great stuff which led to another great rally here to the upside of well over another 100 ticks there immediately. Then as we left the strategy we were looking for another one of those full spike pull back trades into rising support on the 2 minute chart with a half spike on the five minute chart that happened and then the market took off again.

The morning was focused on long side just as we told you it would be if you go ahead and watch this weekend’s video here. After we had the rallies then we said that the rallies would actually be used as opportunities to ultimately find new shorts. We go into the afternoon here we have the momentum shift breakdown trades and more momentum breakdown trades. You got the momentum shift with trend trades and you got the inventory retracement bars. Over and over again we have lots of different signals here to the downside.  Then it came to a halt for me right at about 2:30 PM CT here and then I shifted back to longs because at 2:30 PM usually that last half hour that is when we are expecting market reversal when you have routes like today and we also had a positive divergence taking place at that time. I actually focused on long side trades here and then stopped those right over here and then it was all done.

So really a great session.  We navigated and profited from that very well.  But also what happened was actually forecasted in the previous videos.  Specifically if you go back and watch this weekend’s video, around the 8 minute part, you will see how I laid out the strategy.  It said exactly how I was going to trade that.

As you recall we talked about looking for the jump to the upside and creating short opportunities.  It is funny that one minute before three o’clock, a major article read, Whiplash on Wall Street: Market Jumps and Dives in Chaotic Day.  That is most funny because that is exactly what I told you we were looking for in the weekend video.  It is all there for you to go back and watch.  The homework assignment for tonight, rather than me telling you again what to look for, is to go back and watch the last three videos.  Just take enough time to watch the last few videos to see what we said and what we were looking for going into the next trading sessions.  More specifically what levels we wanted to break down from and what we were looking for as far as retracement rallies that lead to fresh shorts.  Everything we said came true and that is why so many people have come and joined us the last couple days.  Some people are now on the wrong side of this as well.

I am really looking forward to be back with you guys tomorrow morning to do it all again.  Remember the homework for tonight is to study the last couple of day’s videos to see exactly how it played out.  Also take the time to join me and my student family.  This will help you do it live and there is no substitute for live and real.  It is a great feeling when you see the success from doing it live, and not after the fact.  Go to becomeabettertrader.com, then go to store and join.  You can also call me and ask to speak to me directly to find out what is best for you.

Have a wonderful night and let us celebrate our successes once again.  We came, we saw, and we conquered.  I look forward to seeing everyone bright and early tomorrow in the live trading room.

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