How To Technical Analysis For Beginners 8/16/2021
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Good morning, everybody good morning, ladies and gentlemen, sorry about the late entry here this morning, uh a lot of things just kind of on the fritz. This morning, my tos platform reset my trade ideas kind of reset. So a lot of software is just like all reset and i was having to go back through settings so sorry about that anyways here we are back online, so haven't actually done much looking at anything, because i've been really just trying to reset my thinkorswim platform back Up to have all the things i need, so it's been been sort of a fun monday morning already, but hopefully everybody had a happy good weekend and everybody's ready for a good market this week. Let's see, why are you being so weird? Expansionary is too big.

All right so good morning, uh yeah just worried. No, no, no all right so haven't really done a whole lot of looking around um. I do remember some of the last things we touched from um fridays was watching neo bearish, maybe down to the price of 39 or sorry down to 40. Bucks well ended up falling a little bit further than that.

It appears that um there's some news. There was a crash in china involving one of neo's vehicles, so a report here from benzinga shares of neo are trading lower following a passenger death in a neo vehicle. This is resulting in many to call for stricter self-driving care safety regulations in china. I believe there was also some news this morning on tesla as well.

The united states opens a formal investigation of tesla's autopilot national highway traffic safety. Administration opens probe of tesla autopilot in 2014, 2021 models x y s and 3.. So, ironically, there's news that neo, you know, is involved in a car crash in china and then just this morning there is news of a investigation into the autopilot system of tesla. It's just really ironic, to say the least.

So, nonetheless, even though it's bad news, i do think that neo is pretty much coming into a dip buy. So, even though we have news of neo crashing or the car crashing, and so on, part of me thinks that there's still going to be a bounce here and it's not going to quite fully sell off. So i'm going to give the outlook for neo here a couple different ways, so for one, the support that we kind of wanted to dip by on friday was down at 40 bucks. Well, it never reached 40 ended up holding above that and then crashing below it.

This morning, so we did in fact kind of break the first level of support. I was looking that we could buy off of so. There is another level of support, that's down at 38., so ideally we could sell down to about 38 and then bounce. That's.

That is also a possibility, and the only reason i would think that happens is because of the news that i received this morning now. You will see we have the regression trend right at about 39.98 and we have our half candle retrace up at 41.46. So i do think before the market were to trade down bearish again on neo. I would imagine it's going to try to go up to 40 first and if, in the event it can't get through 40, then the market would try to push neo down bearish again.
So i think you should actually be on the long side of neo this morning, looking for a move on the bull side with the first target being 40 now. Another thing to take into consideration is the average volume of neo here this morning. If you look at this little volume graph, i have down here with all these crazy lines that you're probably like what the hell um you'll, see that the average volume here this morning is up 176 um, that's generally over five or four day period. So nonetheless, there is a lot of a lot of volume in neo this morning.

It's probably particular to the news that it has, but just an fyi whenever you're looking at my chart and the volume has this blue line. That turns to a purple line that suggests that this market can see more volatility for the day or a bigger move. Um, because that's just it so we're basically scanning volume in a way that alerts us that some stocks might have a bigger day than others. So if you were to look at um, you know, if you look at just the other day, you can see that the line never shifted to purple during pre-market, so that can uh tell us that it's not going to have nearly as big of a day and So on anyways, so neo might be a candidate to watch today, given the news, but it's hard for me to be extremely bearish with where we're at right now: okay, um! So that's interesting that neo car crash same thing with tesla weird.

Why do we keep that? Just doesn't make any sense: um kelly, parker uh, you never get notified. You could like you could try to. There was a video i watched on youtube regarding that um, but i think you can like try unsubbing and getting off the notification and redoing it that might help. But again, i really couldn't tell you as to why that would be the case for sure one second um there was this stock just at about eight in the morning slightly past tvtx that started moving.

This is my first time seeing it um. So do note that this stock jumped from 16 to 20, so i had a really good move, but nonetheless it came up on the high day scanner. I don't think we're going to do a whole lot with it all right now. What i want to do is i'm going to jump onto the nasdaq and the market.

I want to run through these really quickly, so you guys know as well as i do that i've kind of been thinking the markets are getting close to rolling over. I didn't think we would keep trending in the upwards direction for too much longer. I think i even mentioned that um after this little break up or wait where's that somebody else yeah - i don't know, but i i don't think that this breakup was going to keep running. So i do think you should shift back to more bearish the market at this time.

I just think it's going to start coming, especially with the news that happened in afghanistan. I mean we don't even want to go into that, but yeah you can read the news. It's all over the place. I don't need to tell you the news, i'm sure facebook and all the mainstream media outlets have already done their job and gotten it out to you.
So you know what's going on in afghanistan, not that it's going to drive the prices down here, but it very well could be used as the news event to shake the tree of the market and cause a correction which is kind of what we've been anticipating and Wanting to see it's, some sort of decrease in the market for a new dip buy opportunity. Nonetheless, all right, so, let's zoom in we'll take a peek here uh. You will see that um the spy this morning was up. Actually, i want - or maybe it just spiked up randomly okay, so anyways looking at the spy here, you will notice that we have the mean or the regression level on the four-hour chart comes into play: 444, 15., um and well.

Let me redo this real quick. So we might have already broken support on the market today this morning we did but we're still above it briefly. So this this is the current support zone of the market that has to hold uh, or else we're, probably going to end up seeing the market shift lower okay, so that zone that we just put on the market exists from the prices of uh. Four.

Forty four ten to four forty four forty, so i think the markets are going to try to push bearish out of the gates today. Um nonetheless, market has to stay above 444 39 to suggest that it's bullish and remains bullish kind of on this intraday move. So i kind of think the markets are going to try to shift bearish, um and so on. That's pretty much it we're not.

There isn't, like i said, we're right in support currently, and so it's just a matter of. Does the market hold support or does it not and so looking at the nasdaq, the nasdaq does not have any support on its market down until the prices of 362.48 to 360.90 go back to the one minute chart so right now. This is where i have support for the nasdaq down at 362 to 361.. I believe that's where the markets are going to try to go here pretty soon um, that's pretty straightforward.

The only thing i don't like about the way the markets are set up for a bearish move today is pre-market, they're, already trading down near negative three deviations on the intraday. So, with the way the intraday chart looks and is set up, it doesn't really allow for a big move to the downside. So this could be a morning where, since there's negative news, we're starting on the down the markets want to go down. That's why we're down pre-market and we might try to push them down on the gates, but since we're already kind of oversold on the intraday, i think the markets might actually bounce first get up then sell down later in the day.

I'm not positive about that, but i i can't really justify being too bearish down at negative three and almost negative four, so we might see, like i said, a bounce back up on the day and then the market rolls over later so anyways. I'm kind of staying slightly on the bare side overall, but optimistic that we might start this day with the bounce given where the markets are at pre-market good morning, guys good morning um. So i just sent the um deposit to weeble. I think they said it was going to take upwards of five days, so probably won't even get in by the end of this week.
I don't think so, probably looking at next week to start that portfolio or well, i guess you could say build it as opposed to start it um, so yeah that should be coming probably next week but, like i said i think, weeble said it would be somewhere Around um, like five days or so before the money would be deposited there. Give me one second guys: no, why would it be? Oh got ta change that that's 816.. I don't know why. Hmm all right! Sorry about that was just sending out a couple things um.

I don't think chris yeah, no we're not going to get that much instant buying power um. I don't think they're going to give us 30 000 of buying power off rip. So you know maybe they'll give us like a thousand bucks or i don't know how much they would give us i've never really uh. I i know robin hood will give you like a couple g's, sometimes but um um, yeah they're, not gon.

Na give me thirty thousand, i don't think so. That being said, probably yeah, probably not until like next week. Are we really going to be doing much with that in the first place, so we'll see we'll see how it goes? Yeah there'll be more uh, i'm going to put more in for sure, but i would say, like i said i was thinking myself. I'm like there's really no point of dumping, all my money in all at one time, because again, once you do that the market's gon na go through a dip and then you'll be pissed and you're gon na want to buy more.

So i think 30. 000. A comfortable starting point: it's not going to grow significantly fast! It's not going to decrease significantly fast if things go down at any point um, but yeah, it's going to be a starting balance of probably 30 and then building it year over year over a year over year over year, and so on so forth. You get the point so um.

Can you do uec yeah i'll, take a look at uec, but let me get my pen um. Also well, no i'll just make a video about that. Don't worry about that! All right! So we'll look at uec. You said right, e-u-c-u-e-c um, so we've covered the market.

We've covered the nasdaq. As we know, um our taxpayer money has gone to amazing causes uh overseas. That is the probably the most important thing about all of this um, but nonetheless that's cool, so uec sesn we're not even well we'll talk about scsn, which was really crazy and ended up tanking by the end of the day, which, obviously i didn't see coming. I don't think half the world even saw coming, so we don't really have to touch on that.
Just know that sesn ended up having some sort of news, or maybe it was an offering that completely crashed the stock and uh. It's probably not going to recover anytime soon, and i actually still had i had like 150 shares on this just holding at like 160, so my day went from green to red that day um. Because of that i only had like 150 shares, i'm like yeah i'll. Just kind of like sit on this i'll, i think it's going to go to like almost seven, so maybe i'll just add up, you know on monday or something uh and then ended up crashing, so it wiped out my entire gain that i made that day on.

Scsn only from 150 shares because it went all the way to 70 cents, so i was pretty pissed about that um, but anyways. This will not be coming back anytime soon. You might as well just cut your losses and move on like i had to. Unfortunately, if i was watching scsn when it dropped down to 70 cents, i would have been loading up shares there for this reversal trade and that would have probably been awesome but uh.

Nonetheless, yeah scsn, no point of really it's not going to do anything. It's going to be down for a while. You could maybe trade it a bit here and there, but it's going to be down for a bit long time. Uh yeah, we could look at amazon, am zn um.

Let me see what else we had going here. Yeah! Don't forget to hit the thumbs up button people uh - that will definitely help our channel a little bit, not a ton a bit but a little bit. Uh rkt! Yes, of course we will cover amc. We always have to talk about amc, d-o-y-u, d-o-y-u fsr, maybe um yeah.

Everything uh is in the description of our uh channel, so links to volume systems, um scanners - things like that, so everything is linked in the description below of the stream uh. Yes, the deviation channels do change when you change time frames, absolutely ryan reynolds moving grnb, all right, i'm going to mark down these couple last ones and then we're going to get rocking and rolling because well we just don't have endless amounts of time all right. We are going to start here with amc because you know amc um, so amc ended up bouncing yesterday and going up so yes or not yesterday, sorry friday, um now i don't know if you'll remember friday's analysis, but it was. It was kind of all over it.

Once it was all over the place, but i really wasn't extremely positive on how the market wanted to move whether or not we were going to try to retrace down to the 20s or if we're going to get bought back up to the half deviation. So it looks like the market once again chose to go on the long side. Now i do want to say i was more on the long side than bearish, but i don't remember but anyways it did go back up towards the half deviation price, which was part of the analysis. So you will see four hour chart half deviation at 35 dollars daily chart yearly.
Chart statistical mean at 36.34. This is your current resistance zone of the market. You will not see a significant jump in the stock amc until you surpass the price of 36.32 in sustain over 36.32, so, nonetheless, the way that you would typically want to trade or invest into this market is, as the prices of amc get to 35s and 36s. You actually want to be bearish anticipating.

It goes down. That's sort of the way that you look at the market, all right so again, you're not going to see a big jump big boom until you get over 36.32. The bull move right now is from here to 36.. The lucky move would be from here to 36 through 36 sort of thing, all right.

So for the next couple days, um - and you can kind of see here - we've bottomed right so bottom, then it went up a little bit more and you're, putting in some higher lows, sure and you're, making higher highs along the way, and it's all creeping into jesus - That price action and it's actually got a pretty flat open this morning so far, so this was my projected resistance, so i was assuming the market would try to get back up into this zone and then we would pull back. So we haven't yet touched that zone as you can see we top top top, so today might be the day that actually takes us into the zone. So if we do get this big spike up into 35 to 36, i think it's gon na be a spike up into there and then the market will see some bearish momentum and try to sell it down the next two days. So, as i said, um pretty close to hitting resistance again on uh on amc, i believe um slight resistance, yeah, but i will say, like i said i will say this: you definitely want to be watching for the breakout play of this through the mean okay.

So that's that's something i should emphasize, because i think it sounded more bearish than bullish. I i will say this: we did expect sort of a double bottom here: we've gotten that for the retail market that looks at um their own trend lines, the retail market's probably doing something like this all right, um we'll do it on this time frame and we'll Do it on this one, just in case so yeah the retail market's, probably doing something like this, where they got trend lines that go like that, um and they're, saying you know as we get to the end of that wedge, a move is going to happen, so Retail markets probably got trend lines on their charts somewhat like that um and thinking as we get to the end of this, we can pop, which is entirely true. So we are getting close to the end of that like system we're starting to get into a wedge here, uh, where the price action is consolidating on amc. So again, what i would really just pretty much be watching for on the bull side.

Is this wedge to get up to that trend line around 36 once you can clear 36, you should see it pop. That's probably what i would watch for in the coming weeks for the time being and um. If it's not that again, it's the retest of 25, which is what i've been watching for which i don't like the way this double bottom held. But again, we've been watching for a dip buy off of 25.
Now the dip buy for us is 25 77 or it's a long as we break 36. So that's really what we've been we've been looking for the past couple weeks: either we take back control of the mean and then we suggest it's more of a long or we're waiting for the markets to bottom at about the negative one deviation mark and then it's Along so either long enough, 25, 77 or long through a break and a hold through 36 twenties or so okay. Thank you. My mr rfk freak appreciate that all right going to be running through the next one here give me a second.

So look at uec here, two dollar or two dollar stock looks a little bearish right now, with the way it's moving. Um yeah, i can't say i really like it a lot and that's only because it looks like it's going to go down, but i feel this is a situation where i must say: yeah it kind of looks bearish and then it does like a random pop and Starts to come back up so really on the long side. Right now, your target should be back to cents um, and you can only get a big move. You know you can only really, for example, it could be doing a bull flag.

We could be in the early stages of a bull flag here, um, and then it actually pops up to that. Remember like that, that one sort of pop up to here and then once it crosses through there, that's where your flag break would be right, so, like most people draw a bull flag like that, your breakouts gon na happen through that trend line. I was talking about so i might be watching that for more of like a bull flag, sort of setup right now, as opposed to going down, i don't know a ton about this company in the first place, but i would be slightly more on the long side Than i think i would be bearish on on uec amazon next up here, huh whoa, so that was probably a dip by zone in the past, which now is probably coming through more bearish. Oh wait! No! We added that not too long ago.

So, with um with amazon, we had mentioned that we would kind of like to start being long, biased down here at the negative one deviation price we've gotten there and it still doesn't really look like it's a great buy yet mind you. The markets are also kind of moving bearish now too, so think about that amazon on its own has been moving down to kind of a dip by area. That would typically be good. Meanwhile, the markets just now kind of started acting slightly bearish.

So if the markets are just now getting bearish and they were to get bearish, the dip buy level here will not hold on amazon. So that's another thing you always have to consider, though your stock might actually be in what you've identified as a good support. If the market's getting ready to roll down, then that support will give and it will keep falling further um. So that is something to also consider so with amazon um.
I think i would basically be well. I didn't really recognize that huh yeah, i feel like. I feel like you, can't really be bearish amazon. I think you have to be optimistic on it becoming bullish yeah.

I think you have to be optimistic on on amazon. Turning back to the bull side here in a couple weeks where it's at in this price. Still so next level that i would be looking down, for maybe it to stop at would be around 3242 for now um, but also, like i said, watch the market, because, if that continues to get bearish, amazon will continue going a little lower. So for now i think i'm kind of watching down to 3240.

The only thing that would even convince me to go back to bull is if we take back control of pricing at 3296 on amazon, d-o-y-u, huh, yeah, d-o-y-u downtrend. Don't really see that reversing. If it does you'll, probably reverse back to about 5.68 rkt, so rkt friday, spiked up to the mean which okay so spiked up to the mean, then it hit the four hour mean today. Oh sorry, this is actually very oh wait, never mind.

That's just the daily mean um, i think rkt is on resistance and i don't really think you're going to see a big move from that. I think it did its kind of breakout play here. Remember, i think, well, we obviously drew a trend line there and we gave you the target of 19.. So i don't actually remember doing the analysis, but i know we did it because my trend lines are here and my two red lines are here.

So, just looking at the chart, look where those two red lines were look where the price of rkt went and look where it had a resistance right into those two red lines. So rkt is on resistance. This is the second attempt of breaking resistance kind of failing. So i think you're going to see a slight bear stay in rkt.

If it's going to be a bullsh day, you need to get up and through the price of 19.14 and stay above trading above that price. All right now we're going to take a look at fsr uh. I mean it doesn't look good. I think you um, you could look at it.

Fsr might do a small little bounce today, but i don't really like it um. I don't really like the way that that it was so aggressive into that bottom. I think this is gon na go lower. I think you'll see um fsr prices of 12.52 ish soon grnv.

This was what's that happened friday, wookie so grnv uh unless you're really lucky. That's probably gon na go back down to prices of eight bucks, nine bucks, um yeah, i mean i wouldn't be long biased that i mean that was i mean yesterday or that day, that jump seems like a lucky move and probably not going to really amount to A whole lot more at this point unless again you're lucky or we're lucky sprt um, so sprt ended up crashing on friday. Um i even mentioned you probably wanted to be more bearish sprt going into the open. Given the move that it made, then it spiked back up could not break sold back down long stop out this morning.
It's got a spike all right, so the reason that it's bouncing this morning, where it's bouncing is because this was overbought, and this is support. Overbought support: that's why the market stopped here and after hours. That's why it's spiking up this morning! Okay, if we look at the 180 day, four nope, sorry, it's the daily chart, if we look at the daily chart on the market with sprt, so delete all these old drawings. So friday, sprt crashes, crashes, crashes from plus four through plus three two plus two stops at plus two deviation right there, okay bottomed spike, so i don't know how it's going to trade today, but i would anticipate this market has a good chance of getting up to About 894, that's the half candle retrace level.

Oh, never mind we're kind of already on resistance, so the market has already bounced back to a level of resistance, um we're on the first one. So i think the resistance zone this morning on sprt is from 856 to 879. So i think that's where the market will stop today on sprt. Don't really think it's going to go above 895.

Nor do i think it's going to go above 882. g-e-o. So geo is pretty close to resistance, probably going to pull back soon, um debatable, actually yeah. I think you got to watch the price of 850 for resistance.

The market looks good, it looks like it's holding, so it might not really be a big resistance more or less just a hesitation point. I would think that the price of 925 would act as a stronger resistance than that of 850. But again, looking at the 4-hour chart, your 850 price is right. There plus two deviations, so you probably still got to watch 850 as a resistance and if it doesn't and if it doesn't break down there or stop, then you might look up to about 9 15..

All right, two more stocks here ho ho ho uh spce, so sbce from last week. We recommend it was probably going to continue being bearish trying to move down to prices of 23.11. So the analysis is still the same. Probably looking for svce to go down to 23.11 or so elox looks like it's down.

Trending doesn't really look good. I would probably be targeting down to a dollar and four cents right now on that all right. Those are all the stocks that we had uh from earlier this morning, so appreciate you guys for sending those in um hold on someone had a comment saying you were bearish: yes, a trung. We are bearish well actually friday.

I think we even said we actually well yeah, so we are bearish to 25, but it's 25.77. Now so again, it's either bullish over 36 and then or bullish at 25.77. So yes, you're right, uh, mido man! Yes, you uh check out the links in the description. That's going to have all of any course product.

We have any services, we offer any custom scripts that we offer any products and services that our company offers will be linked in the description below uh choo, choo, choo um. No, i mean kind of, but not really. Regarding your question on my setup, what do i think about the spy today? I think it's going to be bearish optimistic. It starts the day with the bounce first um any chance, mu returning to 73, i'm still long mu still haven't i mean again it wasn't a really big big position.
So i'm not too concerned, and you know we bounced the uh negative. Two deviation on the four hour chart with mu and where's the daily chart. Yes, so basically still long it, it kind of reminds me of pins in a way. Let's check pins yeah they're fading pins out too to our price target, so they might end up doing the same with mu, everything's, just kind of fading these days so anyway, still holding mu.

If i'm wrong, we might be wrong all the way down to 62 39. For now so again, i was really only looking for a small counter trend bounce off this bottom. So hopefully we at least get a small counter trend, long um. If not, we got a ways down to our next support level, so anyways yeah, still in still an mu nice 600 on fry with sprt um.

Yours truly, we mentioned dogecoin like a week ago, as a long too, actually actually owned a little bit then actually sold all of mine um and then held just a little but yeah dogecoin was it was mentioned last week, but you're right, it's moving very swell um. I already did that so edward yeah, i already trimmed materialistic items out of my life a little bit ago um. So i already did that a couple months, back um but yeah i've already been preparing for such things for a while um but yeah. I think i mean really it's up to you.

You don't need to free up cash to buy things. You know if they're investments you like to own, then you can just own them outright. You know um, so to speak. Uh you don't use td for trading.

Can i still take your course uh yeah you can, if you don't use td ameritrade, obviously you're not going to be able to use a lot of the cool things that we use for our trading. But everything in our course is the same exact thing that pretty much i want to say same exact thing, but everything in our course, aside from td ameritrade, is generally going to be the same things that you know: warrior trading ricky gutierrez ziptrader, pretty much anybody you See on youtube internet has probably taught or is teaching at some point so you're going to get a lot of that and then obviously our stuff too so um but yeah. I mean there's obviously going to be a lot of info. You can take in or take out of there, even if you're, not using td ameritrade, all right.

So we are going to run through just a couple more requests here and then i'm going to take a peek at a couple. Things kind of hopefully get my day geared up here. Yeah, it doesn't look like mrna is uh holding real good um yeah, i kind of feel like mrna is going to try to continue down so yeah. I'm really not well.
I was slightly optimistic. Remember just the other day i'm like well, we could go up to the price of 433 56 right now, but we'd have to get to the nine-day moving average and the half deviation hold above those you can see. We got above and we couldn't hold above and we faded back down so for now. I think you still have to stay on the bare side of mrna expecting that's going to end up rolling over and going a little lower here in a couple days, n-a-o-v.

What an awkward move? That's just not typical yeah i mean, like i said you can see: we've been we're trading right now in naov, at plus, three and plus four. It's not typical for stocks to trade at plus, three plus four and create um yeah. It's just! It's just not typical, you just don't typically see this so very interesting. I don't trust it because of friday's action.

Uh, so do what you want with this, but i'm probably gon na avoid it myself, just because i know it's trading at plus, three plus four, so kind of funky, and i just don't trust that uh yeah i mean we can look at neo. So if you remember um from friday, our recommendation was that you wanted to be bearish neo down to the regression level. So pretty much friday, we said you'd watch it down to uh. It would go bearish to about forty dollars.

Well, it didn't go to forty dollars on friday. It actually went close to that. Then they bounced it held it flat till pre till after hours pre-market, and then they dropped the market. So they use this news.

So the market makers have effectively used the news that broke regarding the crash in china to move the stock this morning and the market makers have moved it below the statistical mean so for right now, intraday resistance is probably 40 dollars and downside targets for now might Even be 38, so the analysis is changing because the market conditions have changed a little bit. So you know i said we wanted to be more long off 40. Well, we didn't go to 40 market makers. Gapped us down below 40 on negative news.

So 40 is now resistance. Support is now at 38., we're only um, we're only reversal, long neo to 40 and then, if neo can take back 40 and hold over 40, then you're double bottom long. Okay, so your reversal long neo right. If you bought right now, you're like i think it's going to go up i'm buying now today today you would be long biased only to 40.

You would then be double bottom day or swing long if it can sustain over 40.. So if it goes to 40 can't get over, you might be selling or whatever seeing resistance. Then we could swing down to 38 and then we have a counter reversal at 38.. So it's either reversal long at 38 reversal up to 40, then resistance or you can be double bottom swing.

Long if you take back control the 40 price point. Okay, so for me the way i'm probably gon na watch the market is just that. I will probably watch neo both long bull short, first support being down at 38, first resistance being up at 40. Yes, do hedge funds, trade, pre-market um! Yes, everybody executes trades whenever they think that yeah i mean.
I know that some of them definitely probably put through some trades at that time: stock market tradecraft, mr montero stock market trade craft. I think indices trade sideways until powell announcement in september. That's a very valid recommendation. I could see that being the case.

Uh nope gem. Those are all sold separately, those are all sold separately. Uh. The course is really a course on trading and education, and then the scripts are custom, coded scripts and installs for tos.

I feel like i went over gnus, but i definitely did not so we'll. Take a look at gnus we're going to take a look at silver and gold, and then i'm going to take some time just to run through the gap, scanner and really get familiarize familiarize. I can't even say that word right now get up the speed on the market today, all right g in us trading sideways no volatility right now, so you're not going to really make any return on this anytime until it just pops. So your support right now in gnus is a dollar fifty one as it breaks a dollar fifty one.

The market makers are going to use those stop loss, orders and probably shift the market down to a price of 141 to 137, so yeah, and not really long biased, gn us at this point now all right next one silver and gold, i actually still own some Slv in my weeble account believe it or not, uh so probably wait. Yeah i mean you know. Part of me is like yeah. We should be long, but yeah i mean you probably should be more long, biased and bearish slv at this price yeah.

So i would say you want to be bullish, this um, but yeah. You want to be bullish. This i mean we we did mention when uh when gld fell. We said this is this: was the dip buy that price at one? We said 140.

160. 77. Was your lowest risk possible dip by that's where you wanted to belong uh, and then we gave targets back up to these two red lines. So, realistically, gold has already retraced its long move and, since silver typically follows the price of gold, but silver typically lags the price of gold.

That's why you're not seeing as big of a bounce on silver? Currently, as you are in gold, so gold moves faster than silver silver follows gold, but lags gold. Gold has already bounced too resistant. So if the resistance is true, gold should start to sell down, which therefore means silver will start to pull back. So, even though silver's down and silver looks like a good dip buy, it follows the price movement of gold and gold's about to be at resistance and gold's about to pull back.

Probably i would imagine let me double check that yeah. I would say that gold got a slight pullback coming, so silver is going to pull back pretty soon um. How can you tell when a stock is going to break to the third deviation line? Um i mean about six trillion different ways: volume, candlesticks price news lock. Moving averages patterns, um momentum, all of those things that i just said are all valid outlets and things that you can use to become a better trader to have a better understanding of the market and all of those things could be used to help you identify if A trend is going to continue if something is going to break out.
So all those things that i just told you are pretty much what you would want to learn and get very good at and using, and that will help you better understand that when markets are trading at three deviations when they have a better time of breaking, because There's not one specific thing: that's going to give you the okay, it's really just just basically, all the things you've ever learned coming into play at that moment in time to give you the confidence and decision making to tell whether or not something is going to do. One thing or the other so volumes indicators practice, i'm not. I don't really care to buy the dip on silver. I mean it is a good dip um i already own a little bit of it and i'm probably not going to add into it.

Only because, like i said, i know that gold's about to hit resistance, so if gold hit resistance and pulls back, then there's going to be another pullback on silver, easy to win. Thank you for letting me know. I actually could bat i could go back to using my old microphone now. I really could it would just hang there.

I probably should i'll use my boom mic here in the next couple days, instead of having it on the desk i'll, just put it up there. I don't remember why i actually changed and did that. I don't remember what the reasoning was: yep stock market, tradecraft by gene andrews. I am only like probably 10 pages in it's a really fresh book.

For me. I just got um only had like one day where i sat down and read so far kind of annoyed. Maybe i should just go to starbucks today and do that or something go to coffee shop, uh, but so far i mean i'm just a couple pages in and uh and i like it, you know it's um, definitely a different look at the market, so anyways. I think it's a decent book so far, even from after just reading, like maybe a chapter, if that, all right, so that's cool uh like i said, i am going to take some time here, uh to go through some scanners and if you're not already familiar.

I highly suggest that the 338 of you guys watching uh make sure to tune on over to the trading clips youtube channel. This is my second youtube channel, and this is pretty much just going to give you free scanners all day long and you can choose to chat with some other traders here, not a whole lot of people use that which is kind of sad but anyways um. So yeah a lot of free cool scanners. Here, benzynga and trade ideas, absolutely free online.

Every single day hit the notification bell and subscribe, but the best way to get there and make sure you're, seeing that every morning is just going to youtube and just typing in the trading clips youtube channel and going to it. That's going to be your best effort to get into our stream and that stream every single day, all right. Let's put that bad boy back yeah! All right so, like i said, give me a few minutes here: i'm just going to kind of run through some things. Really quickly, um and in the meantime i will talk to you guys a little bit so for those of you that watch just one of my recent videos how to start a business from scratch.
We are going to continue that series, but after diving in and really analyzing the numbers on turo, it's not that i don't want to do it. It's just for someone in my position. I don't think the return is good enough, so i think, and that might still be a little inaccurate. Maybe it is, but i know that just the time and effort it would actually take to manage it and the return that you're getting my money is probably better invested elsewhere, um.

So that's what i'm coming to the conclusion of and um. So so that's what i'm saying so, maybe for someone else. This could be a really good business, endeavor right. If you already have a couple cars and - and you already have like a shop and and so if you can kind of tie some of the pieces together.

I think it could work really well, but after i'm doing the numbers myself they're decent, but i don't think they're good enough for my effort and my time and the headache and setting up payroll and processing tax, i just don't um. So what i've decided is we're still going to do this series, i'm still going to go through the full process, so that way, i'm still teaching you guys how to set up a business, how you would market it, how you get everything online and then so pretty Much going to go through a full business process with you guys and just probably do one car, so we can see how it works and you can see the returns on it, but i'm just not justifying that. I'm going to put that much effort and time into it. After seeing the returns, i could be wrong, but i am usually pretty good with numbers.

Okay, so um though, like i said it could be it, it should be a very good series to the youtube channel, and you know i've already got a couple comments on there. That's from people. That said, they would love to see it, and this is very much so interesting. So i don't want to not continue with the series just because i don't want to go full-fledged into it, so still want to create the series and show you guys how you go about starting a business from scratch and all that because great series, but the returns For me, probably aren't good enough returns, for others, i think are are okay.

You know this sono stock's kind of interesting. It's a good gap up today. Sono shares are trading higher as a u.s international trade commission judge and preliminary ruling found. Google infringed on five of sonos patents.
Also jeffries upgrade the stock to a hold to a buy and raise a price starting 43-60. Hmm that's interesting, but we already hit resistance at the mean hmm, so it's spiked out hit the mean yeah. I don't even know about this. I think this is still going to see an awkward trading day resistance at 42.76.

Oh sorry, yes, thank you. Thank you eddie. I lost track of time. There definitely lost track of time this morning, no dog, i don't hmm.

Now we i don't know neo and tesla i can imagine, is gon na have some bearish movements. So i mean with that news. Excuse me: oh man, yeah with the news from from tesla this morning and uh yeah the news from tesla, where it's at in trend, probably gon na, see a bearish shift downward here, i think yeah. So if you look at you know this price action trend, we're just on the top of that.

So that means the shift through is going to cause that big move down. So we're probably right around the corner from uh tesla having sort of a harsher drop in that stock, especially with the news that's coming out this morning, so i would be mindful of that. Then also you can just look here right. The market topped perfectly on the uh, you know, plus one deviation.

We almost got up to the regression trend resistance, so we were coming into known resistance, anyways and now the news from tesla. You know investigation that might just expedite everything and make it go a little quicker. All right give me one sec guys. I will be right back all righty folks, yeah.

We can take a peek at dpw here for a second um yeah. So there's some news here at nine in the morning from goodyear: well, not necessary, but goodyear ventures invest into eevee charging and software company amp up no terms are yet disclosed all right, so dpw little move up this morning into 294. So i would imagine, probably already ran into some sort of resistance yep. So there it is close.

So dbw moves up, has resistance at and 13 cents on the four-hour chart and it has resistance on the daily chart at uh 319. So, theoretically, it didn't even run into resistance. It got kind of close got up to 306. um so optimistically.

This still has room up to 313 to like 319 320 today, um that you could try to maybe go for now. If it were to pull back, the support should probably be that's too far. I wouldn't imagine it does that yeah so right now, i kind of like want to be on the long side of dpw more up into that 313 price, but is fading out quite a bit this morning see i don't really see anything that i'm not going to Do anything with this? I don't really care to be bearish, or do i yeah that's a tricky thing. Is i don't know if we're actually going to go up to this price and sell off yet we're close? If we had already touched that price love, i would have told you to be bearish all right, so you can't really be long dbw for a big breakout move unless it gets to the price of 318., so otherwise you're just long up to 318 and then bearish Into that price - and you can see - we already got close to it - and it's off this previous top right there.
So probably not the greatest setup in the world. Stop skipping me thoughts on btc, um yeah. We can go over bitcoin, so uh. The last time we touched on bitcoin um, the analysis was long.

Targets were 47 000 to 53 000 and then that's those would be your two resistance points that you would see. People sell the market off at so we never got to 47 000 before the sell-off. We only got to forty thousand forty seven thousand seven hundred and ninety four dollars, so i was off uh by that target on bitcoin by two hundred dollar two hundred and six dollars. So when we said that 47 would be your resistance, we were off by again 204 dollars on a 46 700 bitcoin.

That fluctuates thousands of dollars. So say that was pretty good, so we got up to the 47 000 mark. The question now is: do we sustain over 47 000? Well, really, it's not even that anymore! No longer is it. Do we sustain over 47 000? It's do.

We sustain over the statistical mean, which is right now, 46. 0. 43. So pretty much we got to say above 46 000 and as long as we can sustain over this price, the market should structure and probably move closer to 53 000.

I think, but let me double check yeah, so i think i think i'm just going to say it. I think the target's 53 000 right now. If i'm wrong, i don't care, we already hit the 47. So our again long targets are 47 000 to 53 000.

So i think we've slightly entered yeah pretty much the target. Anybody was going for anybody who bought this dip and are in this move we're getting close to their cell target or their desired target for that market structure. Oh sorry, yeah naov, i don't i'm gon na stay away from that uh myself, but yeah i mean nonetheless, naov is just up big-ish kind of overbought. I'm not going to do it.

You're right on resistance. 324 is resistance of that market uh ar. I appreciate your super chat, uh, my man, so we will take a peek at that real, quick, sq. Oh, why am i typing again in that way, all right so sq? Obviously it's coming down a little bit yeah.

I would probably stay bearish on that. I think sq is going to go a little lower, especially with the way the market's moving um. Let me just double check this yep so for sq to go lower. It has to break so look at this.

Look at the chart on the left. So again, we'll do this. So look at the chart on the left. Look at where i put this line.

The line is hovering over that white trend line. So this line comes into play right there you can see where the price action is. We have yet to break three 260 489. So once you break 260 489, you should see continued weakness there on square um price target.
For that i don't really know. For now i mean if it's a successful break, it's probably going to go down to 257.62. Now, in the event it doesn't break and it doesn't go bearish. The market will bounce back up towards 268 on square roku.

Uh roku just made it down to where we suggested a swing long. So our swing long target for roku was in this zone. So we had mentioned that roku should stay bearish last week getting down to the prices of 354. Well, it's 355 to 346., so roku has almost entered the swing.

Long dip by location, mind you! The markets are starting to get bearish. So, even though we're coming into these great support areas, markets are teetering right now these stocks will not hold these levels if the market ends up rolling. Okay, all right, ladies and gentlemen, we are currently sitting at 370 for viewers live. Thank you guys very much for tuning in uh, we'll see if uh we'll see if the computer systems will allow us to break that 4 420 resistance.

Today, probably not but we'll see, tvtx is on the move. Yeah. We talked about that one. A little earlier, um we'll pop on over here so ended up spiking up again 19 kind of awkward.

That's up at 25. I don't think it's gon na. Go there all right so for tvtx. Your next long target would be 2187 max long target.

For me, today is 25 to 26 area, so 25 26 max long target. For me right now, um 22 is is a half deviation. Resistance, see i'll just say it max target. For me, tvtx is going to be up at 25 to 26..

Don't really see a reason for me to sell this on the short side for right now. Also remember what we're saying about the volume system. If we pull this up, you will notice that tvtx is basically. This is saying the average volume is up, eight hundred and twenty four thousand and two hundred and ninety six percent, so the average volume right now is almost up.

A million percent kind of 824 thousand 296 percent is what it's up um. So that's saying that this stock is obviously seeing extreme volatility and suggests that the volatility in the move could be bigger on the stock than as opposed to some other stock in the market. Let's go philly good job bud. That's what i like to hear.

Probably looking a little a little charcoal huh all right, we'll take a peek at bobby here, um yeah, i mean so. If you look remember the last time we talked about baba. So last time we talked about bob when it was going up. You know people said what do you do with this? He said: watch it long bias, as bob is going up, watch long bias to these two red lines and that's going to be your selling target.

You can see we got to the first red line, never to the second market sold off, so you ideally were supposed to sell this counter trend bounce on baba at those two red lines. Now the market is swinging back down and probably won't bottom until it hits support, which i think is going to be down at 176.29 for now uh it could. It could stop here before there, though at 182.67, but nonetheless i think right now. The buy zone that i would watch for baba would only be at 180, 260 to 170 63.
So you have about a five, a five dollar buy zone. So that's where i'd be watching the price to go to myself on uh on baba uh. No, we did not go on the other gentleman's channel. The other gentleman's channel is the beginner traitor channel.

So he invited me to his stream um and then he uninvited me because i started streaming so i used to stream a little more to youtube than i saw. Then i'm streaming a lot more to youtube um. You know, ironically yeah yeah. Ironically, i used to stream to youtube a little bit with less followers and got more views, and now i stream to youtube longer with more followers and get less views, but nonetheless yeah.

He invited me to his channel, but then uninvited me because he saw that. I was starting to stream to youtube more frequently so he's in his direct competition and decided that it was no longer in his best interest to bring me onto his channel so uh anyways hi everybody happy monday morning, hopefully everyone's having a good one um. Yes, so i don't know who he is. It was a recommended book that i'd saw on some comments.

It was only 12 bucks, so i figured i would give it a go, but it's first off started yeah. So far, i've only read a couple pages and i seem to like it, so i don't really care who the guy is um or his background um. To be completely honest, i just started reading the book and there's some things in there that i like so far that i'm reading. So that's really why i'm making a recommendation.

I mean there's about a six trillion books on the internet for stocks, so um the number one recommended one is obviously taking the cmt book, which is an exam right, hmm uh. We were actually trading scsn on friday and then actually had 150 share position on scsn. Throughout the day that i was swinging because i was probably going to trade it today, if it was still moving good and then obviously whatever happened happened, the thing got just annihilated got any good names for a trading book. Um yeah just watch these levels 180 day.


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6 thoughts on “How to technical analysis for beginners 8/16/2021”
  1. Avataaar/Circle Created with python_avatars Olivia Lily says:

    I make huge profits on my investment since i started
    trading with Michael kayla her trading strategies are top notch

  2. Avataaar/Circle Created with python_avatars Olivia Lily says:

    I make huge profits on my investment since i started
    trading with Michael kayla her trading strategies are top notch

  3. Avataaar/Circle Created with python_avatars jdh23h says:

    NAOV 🔥

  4. Avataaar/Circle Created with python_avatars TheLureGuy Brad says:

    love these vids and the way you bring more confidence to traders

  5. Avataaar/Circle Created with python_avatars Luis Miguel Sanchez says:

    will be great to see how you completely setup TOS again

  6. Avataaar/Circle Created with python_avatars Buster Keaton says:

    Another great stream. The time stamp question/request is just so that a viewer could know if you already covered a ticker. I feel it would stream line the experience, but no sweat, thanks for the quality content.

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