So I wanted to make this video to quickly talk about a position that I'm taking. It's not even exactly going according to plan, but again, my job is to update you on why it is and I'm taking a position. So I hope that you learned something new in this video and you guys can let me know down in the comments section if it makes sense to you. So first off, there's no significant news that's being released as of right now.

There were a series of economic reports that were released. Markets did react to it. So during our live trading session today with the Lpp team uh, 9, 45, 10, and 10 A.m Eastern Standard time we saw little changes, but ultimately the market didn't start selling off until uh, what is that? 11 o'clock uh Eastern Standard Time or uh, 10 o'clock Arizona time I'm sorry, uh, nine o'clock Arizona time Um yeah. I got a little bit bearish, but if you look at this on the five minute time frame, when it comes down to QQQ this is one thing that I kept pointing out: I'm looking at the 30 minute time frame.

We're still in that consolidation phase, so it's not even that we're necessarily making new lows. We're still trading within range of the lows that we made what is this three days ago to lows of 290. It did get pretty uncertain at one point, but we're still trading within range. There's no break of pattern.

Yes, we are a little bit more bearish than we are bullish and I want you to be aware of that, right? But some of our Traders began asking Ricky why are you taking a position in Tq's And it's because there still is not a break of pattern for QQQ I Agree that we're not fully indicating signs of an uptrend, but if my job is to identify patterns and oversold and overbought levels, and I see that we are approaching a previous support range and then we begin to show signs of a support. Looking at previous patterns right from lows to highs, from lows to highs, from lows to highs from lows to highs. once we approach a low point, you know why am I not so eager to go into Skq right? SQ goes up where the NASDAQ Market goes down well because the NASDAQ Market is already down right and based off previous support levels, if we find a support at that same support range, the market will most likely recover right back down, right back up to this moving average, which is right around 294 to 295.. So if that's the case, then it's going to be in favor of Tqs and not so much of Sqs as Sq's has already played out as planned, right? It's already created its move now.

Sqeq, in my opinion, is overbought and again, on the five minute time frame, you could see it a little bit more clear if you take a step back by being able to understand overbought and oversold levels overbought and oversold levels, right? So it's not rocket science, it's just understanding the range that we are currently trading in. As of right now, we're in that consolidation phase. We're not actively up training, but we're also not active actively downtrending. So that is the reason that I entered Tqq and obviously does not have to go according to plan.

I Mean it hasn't yet. But one thing that I wanted to share with you is why. And this is the reason why I took a position in Tqs. And it's because if I'm looking at overbought or oversold levels within that range, NASDAQ is more oversold than it is overbought and it's still within range.

Which means that we're still in play for the market to potentially recover, right? as long as we do not break below that 290. If we break below that 290, I will have to cut losses on this position and accept my loss, right? But as of right now, markets are still doing pretty good. I Do want to make sure that you guys are aware about initial claims and continuing claims tomorrow, which is the report that's going to be released one hour before the Market opens. You heard me talk about them in this video and before it's my Learn Plan Profit group.

They are the only group they get to watch me trade live every single day. and if you want to learn more about it, it's the second link in the description down below. I'm actually heading on over I Know a lot of you guys have been following me uh and trying to stay up to date with our GTR giveaway. So our GTR giveaway officially starts on March 3rd if I'm not mistaken, it's gonna be um, this Friday if I'm not mistaken, right? So we're doing a GTR giveaway or 50 000 cash.

so we're going to film a couple of videos right now that we're going to be posting in the next couple of days. So again, if you want to learn a little bit more about our GTR giveaway when it starts and how you can enter, make sure you click the fourth Link in the description and most importantly, make sure that you stay subscribed to the channel and also stay following me on Instagram for updates on just you know specific specials that we're having for this GTR giveaway. So very excited to get that going I Know a lot of you guys have been looking forward to it uh and if you have any suggestions, feel free to reach out so really do appreciate you guys time. Wanted to keep today's video super short and sweet.

I Want to remind you that today is the first trading day of the month? It's a pretty choppy day. It's not extremely bullish, it's not extremely bearish. Um, it's just a a very, very choppy day. We are trading above the moving average as of right now, but we are lacking progress and that's going to be my main focus right now is if we break below the moving average on um SQ I'm sorry on QQQ then that's going to bring us back into that bearish territory.

But as of right now, we're holding above this moving average I'm just waiting to see if we form higher highs and higher lows and then I can begin to step on the gas on that position. So I appreciate your time. I'll keep you guys up to date on Instagram or if you're part of our Lpp team, we'll keep you up to date via Discord Hope that earned a thumbs up! Please consider subscribing and like always, let's make sure that we end the year on our green note. Thank you to the team!.

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