Foreign, so we're at the top of the hour here. Ocea is grinding higher. it's up 39 percent, which is not a huge gap. The problem is, there's a couple things I don't like about it: I haven't taken trades on it I don't like the daily chart with these big red candles back here and I don't like that it's under the 200 but it's made a much bigger move than I expected.

Unfortunately, the higher it gets, the closer it gets to that 200 moving average which I have at around 780 nine. So right now we're you know, 40 50 cents away from that resistance point if you didn't trade it earlier and I don't blame you for not trading it earlier I didn't trade it either. Uh, because I didn't like the daily chart. Then trading it now feels tricky.

You know, generally speaking, if a stock starts to squeeze up, you know this is the area that I like to be trading when you've got that nice leg higher and then the first pullback into the second leg higher. You know these These are areas I typically would like to be trading it, but there are times when I'll see something and for whatever reason I'll say you know I just don't like it and that was the case on this one. I saw it at 585 and I said no, this was on the scanners, you know Way Way Back at 585 and I said no I don't really like it I don't like the daily chart I don't like the position of the 200 moving average. it doesn't feel strong enough to me and in this market being selective has paid me very well.

but in this case it kept me out of. uh, what ended up being a nice move. So you know that's the thing with improving your accuracy. Uh, you're gonna take fewer trades and some of those trades would have been winners, so there is a sacrifice to increase accuracy.

It's not just that you save yourself losses, you will say you will cost yourself some winners, but hopefully the net result is that with a higher accuracy you're you're taking trading with bigger position sizes and you have higher profits. which I think is the case for me this month. But this is an example of a trade that I sat and watched and didn't take. Um, you know a single position on because I didn't feel like it closely enough.

met my criteria for having a lot of potential. so I underestimated it I suppose um, looking back I there's nothing I would really say I was wrong about in terms of the things I didn't like. But what sometimes happens is when there's an absence of anything else. Even a subpar setup can perform better because Traders sort of flock to it, get excited and maybe I underestimated that effect that it was the most interesting stock at the time.

And for that reason, even though there were good reasons that it probably wasn't a a quality setup, it had enough attention that it got him. You know the volume and then once you have the volume, you get the move. So anyways, uh, you did have a little pullback there at around 6 35 get a doji and then it broke through that it kind of pulls away here. up to 650.

665 goes up to seven. had a high right there I thought maybe it was going to be done at 7 15. That was where we had uh, this candle right here which I sort of thought is okay, double top rejection. but we also had that right there.

Double top failed and then codes goes higher so fails but then goes a little higher. that one little doji drop down started to look like a head and shoulders head and shoulders and then squeezes up a little higher I Still feel like it's um I mean again at this point I'm not going to take a trade on it. it's too close to the 200 moving average I think that it's extended anyways. so, but uh, you know, so so that's that.

Um, so now it's 906 So some of you guys broke the ice and got some trades on this one and you're right bcig from yesterday, maybe triggering a little bit more fomo Momo Today, this one, uh, really gave a nice move, which was unexpected, especially off of its pre-market chart. The pre-market chart was sort of like nah, thickly traded, nothing super exciting, and then all of a sudden it pulls away. here. Makes a really nice move up to 555.

First pullback and wow, so you know that was. That was an impressive move yesterday. There's no question about that over 200 percent. So vcig is it worth considering today? Well, it's retraced more than 50 of the move, so when you get that big of a retracement, it can be hard to trust it for continuation.

so probably not. Ocea just hit a new high right there. So 908 we've got 22 minutes the opening bell. we'll see if something else pops up.

foreign. Let's see how this does any of the 200 moving average. So kind of like buying a stock below V-wap and you see it break through that level. there's going to be a higher price.

um, to pay for that confirmation, but in this case I think it makes sense. It's at about let's see 783. You know. You have to say though, the five minute is pretty clean.

Nice. Two, four, six, eight, ten green candles only two red candles and then right back into two more green candles and now you've had a reset. I Never like when I look at a chart and I see uh, um, a red shooting star doji like this. So that plus the 200 were the two things that gave me pause.

But yeah, it also has a clean volume profile right here. let's see. Thank you! So I set my daily charts to regular trading hours so the daily charts don't update until um, until 9 30. that's the way.

I've always used daily charts, so my daily charts don't include pre-market or after hour price action. They only include intraday price action. Okay, so right now we're above the 200 and we're right under eight dollars. so let's watch for dips.

Breaking through the 200 is important. Will it hold over eight? No. So it broke eight and then dropped back below to 96.. So when you have a stock that pierces a whole dollar and then comes back below it, whole dollars and half dollars can act as forms of support and resistance.

So if it came back down, you saw a lot of buying right there. At eight dollars on the bid. I would be tempted to buy at 802 with a stop at 7.99 but when it breaks eight and flushes below it, then all of a sudden it's not holding a support. So Now getting in right here.

Well, it's going to have eight dollars as resistance. On the upside, now, there is a big bid on the level two, but you know your five minute is a bit extended and the one minute is a bit extended as well. So this has created a pause. You know when something is already extended.

Wow, so your high there is 8 14. So what do we think of that is that a trap? Is that going to be a bull trap? So we look at the one minute chart and now you see a big red candle. It's a false breakout I Think that was a bull trap. Foreign.

So will that 200 moving average hold. So we broke above it. Foreign. Just looking at a couple other charts here, we've got about 13 minutes to the opening bell.

foreign. I Like using 10 second charts for zooming in on this kind of price action, It helps me see it better. We have 10 second charts for warrior members who are using this platform. Foreign.

Okay, so the low there was 76. I Would say we have a pivot at eight dollars, but we had that bold trap that went up to 814 so we'd have to get above eight and then back up towards the high of that candle. There's a seller at eight dollars here, so you know you could take small scalp trades through any of this range. You know it feels kind of silly in some ways to Miss big moves and then just take a five cent scalp on a break of a half dollar.

But in any case, you, you could. um, if it breaks through eight, there could be a scalp up to 808, maybe 8 10. But now you've got another red candle there. So 922 8 minutes to the opening bell.

Foreign. Okay, so with only six minutes, a little over five minutes to the opening bell, Five minutes about? Uh I'm not going to take any trades here going into the open I Want to see how this holds up I Kind of expect it's gonna fade, but you know if it goes higher, it goes higher So that's fine. We'll keep it on Watch and look to see if we get anything else that pops up between now and 10 10 15. So no trades yet for me today.

had a little bit of a bias on Ocea Didn't really like it initially and then wasn't able to pull the trigger as it started to get extended. so no trades on that one. We'll wait to see if anything else pops up here as we get further into the morning. All right, three minutes the opening.

Bells So we'll see what the day has to offer. Reminders always for those tuning in on Uh YouTube Thank you guys for being here I Hope you hit the thumbs up I hope you subscribe and I want to remind you that trading is risky. My results aren't typical so make sure you take it slow and practice in a simulator before you put real money on the line. and I'll see you guys back here tomorrow morning.

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