What's up guys happy monday, uh, usually on mondays, i like to take it easy, especially when the market condition is not as hot as we had seen last month, and especially the month before. So today was mostly just like a scalp day for me on the long side than short side, but i think we're finally starting to see a little bit more follow through on the breakouts, especially on the cheaper names like ocgn and mdis. So let's go over. Some of the trades right now, starting with um the first trade on the day, was a short on sj.

So a lot of these small cap gappers in this current market, just gap up and selling off, and if you look at the daily chart on this stock sj, you can see why i'm more short, biased on the stock. I didn't trade it on this day. It was like the beginning of april, so maybe like three weeks ago, but this thing did you know, gap up and ripped and then sold off into the clothes. So today you can see.

Pre market was gapping up to 13 um yeah. I had a small scale, but i didn't size into it: pre-market um, it's only after the open again. This stock is pretty low, float low, float, uh easy to borrow. Then those are the scenarios where you wan na you don't wan na assure the weakness.

So i waited for the pops to show into it around very small size because i never tested 13, but still i started adding into especially after all these lower highs, as you can see so around 12, 20s and then later 12 and then 12 again. And then you can see, i covered most of it into the flush and then after the re-add i covered into 11 30s, 1120s and then 1080s, especially when it's on a monday. I'm trying to take it easy and just like scalp for um the more straightforward moves, because a lot of breakouts on the long side like a ual which i took long today, um didn't work. You know i was still seeing the similar things this last week, at least on the large cap stocks um, the gappers at least the gappers are not working.

You can see on eual we gapped up with the rest of the airlines and we just kind of sewed off. While i long started around 53 70s still isn't working, so i basically stopped out and you can see yeah, even though it did go back and retest 54. It's still, you know, sold off into almost previous day clothes, and now it's just kind of choppy around here. So um, so this is a loser on the long side.

Um. That's why i wasn't necessarily trying to scalp. I wanted to actually build a position and join the trend on the long side couldn't even hold above the web and go up higher um. I mean the the other play that would have worked out, but i didn't get to trade it just because i lost track of it.

It was neil, so this is kind of similar to what i was looking for on ual, sell off and then start holding the bottoms and hold vwab higher lows and start trending up higher um into 50. Sorry 40 to 70s. Now, but this one, i kind of just lost sight of it. Um was a little bit sad, but essentially this is what i was looking for on ual just didn't work out so the so i did trade a few other tickers and they're, mostly just like small winners, small scalps, on both a long side than a short side.

Uh mrna, i only scaled this one short for like just a little bit here: uh 179 down to 178, but here i actually got long on mrna on this flush move to the 176's. You can see that's essentially the previous support and breakout level over here, and that's why i got in loan there i saw the stock. I didn't stay in the short, though i didn't. I was just long here long i sold some and then i was selling the rest of the long accidentally shorted, but so i got out of the short, but this is a long trade.

Over here and uh. You know 176 flush out, move um took the long sold into 177s and then the rest at 178., and i just left the stock alone. Just because you know like, like i said earlier, a lot of the breakouts. Sometimes they look like they're gon na hold and they sell off and they just chop around.

I think i'm just trying to take it easy in this market until it really tells me that we're gon na have major breakout moves on these large cap stocks so mrna. I took the short and the long bold scalps small wins on this one. The next one i traded is amc this one i sculpted short as well. You can see this thing broke out to 1150s.

You can see on the day the 1150s on the daily. You know like yeah it's holding now now it's bullish, but at the time it was a parabolic move too close to some daily resistance levels, and that's why i shorted it around 1147 750 and i covered into 11 uh 27s and the stock later is flushed out To like 11 would have been nice to hold it, but i didn't again: i'm just kind of aiming for base, hits and and have the smoke gains add up, especially a lot again break out. You can see. This thing is another example of the breakouts not holding.

It gave back the entire breakout from the highs 1150s, all the way back down to a 1080. So that's just another example of why i'm doing kind of like smaller moves until the market really proves to me that things are going to start trending and start going moving up higher to the upside. The next one is sklz. This is again another scalp move, but this one's just a small short because uh i have kathy here she's responsible for what happened last week when i was trading skills on the long side, but this one today uh nineteen dollars.

If you kind of look at the last couple of days chart nineteen dollars, this is kind of around the area where i was trading on the long side. Uh was it last thursday 19 that level once it broke down? That's when it started flushing out all the way down to 17s. While i wasn't looking for you know a big move to seven teens. That just tells me that, like the 19th, around 19 1920s was an area of resistance.

So that's why i shorted it and yeah. I mean i got out for like 10 cents. I was just looking for a quick scope um, but you can see this thing's starting to hold up and uh if, if we break out above 19s today later on, this thing could actually start moving to the 20s. But for now i'm just trying to stay safe, trying to kind of just take the small small games and make sure i survive until until the market actually turns around then we'll have actual um big breakout moves.

Okay, so it's time for our q and a's. So the first question is from mark hi, humble trader. I want to ask what time frame you're using to scalp the market, so whether i'm scalping or trading other setups? I use the same time frames. I use one minute or two minutes.

It depends on the volatility of the stock if it's a very volatile stock, sometimes a low float runner, which we haven't seen for a while. I would use it one minute if it's kind of like a more slower mover um like a lot of the large cap stocks um like ual today, then i would use two minutes, but i always have the daily charts and i also have the five minute chart. Um kind of just for reference points on the side, but i do find that in this current market condition, i'm using more um two-minute charts to kind of see the trend, especially when things got started getting so choppy. I don't want to get chopped up and that's why today you see you can see that i i have pretty clean entry, just one entry, one exit uh.

If i'm wrong, like the on the stock like ual, i just get out um. I don't want to get stuck in like a choppy action uh and using two minute charts has been helping a lot lately. So second question is: from justin credible he's asking: how do you find your entry point in some charts you show the support and the key level, but in some i don't um yeah, because sometimes when i do the videos, i clean up the charts first, because otherwise You you might get too crowded and the viewers, the audience, can't see the chart um. But how i find the entry point is basically around some key support and resistance levels and it's going to kind of be different for every stock.

Obviously um, but especially, let's say, for example, like on a stock like ual. If it's like a gap up, it needs to at least hold the the support of the pre-market lows, so you can see for this ual the it wasn't holding right around like the 53 60s. It wasn't holding that and that's why i got out pretty simple um. Basically, key support or resistance and uh for stocks like sklz, you saw that the 19th level around, even though it didn't quite get to 1920s.

This is an area of selling from couple days ago, and that's why for me that was a key resistance and that's why i'm trading, whether it's long or short, whether it's scalping or other setups, essentially i'm just trading around some key support and resistance. It's pretty simple! But just harder to execute, but i try to keep things pretty straightforward and having only like the major key support and resistance on my chart, and let me just give you another example: before i go on sj you can see. This thing is a small cap low float and when the float is lower, you have to use kind of like a rough area of resistance or support levels. It can be exactly to the scent so for this stock uh i'm looking at 12.

You can see that 12 dollars is also like a resistance from the daily uh daily level. Yeah daily support became resistance on the second day here, and you can see today, yeah that was acting as support free market but later on, we broke down. So that's why? If i'm short, i want to short around this 12 area, you can see that's why i got shorts around um, 12, 30s, 12, 20s and then, once that 12 dollars broke down. That's why i added into it, and especially after this thing, created, lower highs around that 12 breakout.

So so that's just kind of how i trade but yeah. That's just a quick summary of how you can find uh support and resistance and trade around them. If you want to learn more about support and resistance, i did a video on how to draw um. You know these price levels, if you want to check that out, if you have any more questions, feel free to leave them in the comment section below.

Thank you guys for watching and i'll see you guys next time. Hey guys thanks for watching. I hope you enjoyed the video and the bad jokes if you want to see more day trading content make sure to subscribe and follow me on twitter and instagram for more. If you'd like to trade with me daily and get my free weekend, watch list and trading journal make sure to check out the links below for more resources.

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