So a quick market update for you guys, especially for those following my short position yesterday I took about a nine thousand dollar loss as I tried to short the market One Market Direction quickly changed. Uh, we were taking a different approach today I Just wanted to share this with you guys I am going to take pretty much the same position size and it's going to be about 20 000 shares. Uh, in Sqq eventually, right? So right now I'm in with 10 000 shares I am managing my risk um, with a stop loss As you guys can see here at 27.48 I Just entered as we broke above that EMA line indicating signs of a potential reversal. We'll see if those higher highs continue again.

It's not going to be much of a surprise if it actually ends up getting rejected, just keeping you guys up to date. But overall I see upset potential uh to be a little bit over two percent. Now let me explain right? we waited for the break above the EMA from the EMA all the way to pre-market highs is a 1.93 return. Now I'm nowhere close to being a perfect Trader even if I walk away with 1.5 percent out of the 1.9 percent, I will be more than happy.

My downside risk is about half of a percent. So if my upside risk is two percent, my downside risk is half a percent. Risk to reward ratios are definitely in my favor. The only thing that's not in my favor is Market Direction I'm not here to sugarcoat it.

Please do Not copy this trade. Especially if you're someone that doesn't know how to manage the risk. or if you're someone that really shouldn't be opening a trade right Market Direction is not in your favor to be shorting. this is a risk to reward type of play and I'm just excited to follow up.

I Want to see if we can make back what we lost yesterday and then some. and if not, uh, then we'll leave it at that. But as of right now again, we're kind of struggling to form these higher highs and higher lows. I'm keeping my learn plan profit, team up today.

If you guys look at QQ Cube again, it does have a beautiful setting up Trend pattern. What I would love to see is for it to break this support break below the 327 and by breaking below 327 which has been a general support range where it's been consolidating. Then we break below the moving average and actually form lower lows. Lower highs break below 320 26 and then head on over to 325.

So as you can see, this is going to be no easy task. I Don't expect it to go exactly according to plan, but even if I walk away, you know one percent in the Green 1.5 percent right? Whatever the case might be, Um, there's no question that if you look at QQQ it is overbought. Look at the RSI looking at previous patterns. Very overextended.

As of right now, there is a Fed meeting going on. We actually live streamed part of it during our live trading session with the Lpp team. You guys could actually find this by going to Federalreserve.gov and then going under the calendar section and then as of today Tuesday on May 16th it says that Vice Chair for Supervision Michael Barr is going to be. you know, speaking live right and if you click on this actual video then you can actually tune on in.

but it looks like most people have actually left. This meeting started at 10 A.M Eastern time which means 30 minutes after the market opened. which again as of right now we're about an hour and 44 minutes from that. So yeah, it's It's been quite some time as of right now I Just wanted to make sure that you were aware of you know if you do see a potential Quick Change of Market direction that might be where it's stemming from.

The main focus for this week is again, uh, will President and Congress be able to come up with some form of solution. Uh, with the debt ceiling. That's everyone and everything what we're focused on as of right now. There are small economic reports that are being released this week.

Remember that you can Google search economic reports you can or economic calendar so you can have on a weekly basis all the different economic reports that are set to be released. but for Tuesday they're all done. We do have Wednesday Nothing too significant. We do have Thursday nothing too significant.

It's just whatever is released on a weekly basis. So very excited to follow up. Hope that we're into thumbs up. If you have any questions about uh, you know what we talked about today, feel free to message me via Discord and that's going to be the first or second link in the description down below.

But remember again, my trade that I'm taking today is super super risky. Not something that I'd encourage absolute beginners to copy by any means, but just, um, wanted to share my idea behind it and the risk to reward on how I'm justifying that trade. and I'm going to be doing it in two different positions, right? So right now I'm in with 10 000 shares. if we get, if we begin to form higher highs and higher lows and as we get closer to that 28 dollar price point, then I'll be adding an additional 10 000 shares.

So again, by managing my position size I'm managing my risk and then on top of that I am managing my Risk by setting a stop loss on the original 10 000 shares. So very excited to follow up. Hope that we're in a thumbs up. Please consider subscribing and also do not forget to save your spot for our free live trading session where I'll be giving away one thousand dollars this Friday and that is the first link in the description down below.

You don't want to miss out. Make sure you save your spot before it's too late. Appreciate your time like always. Let's make sure that we're in the year On a green note.

Take it easy team!.