I'm not gon na lie today is one of those really scary days in the market where everything just selling off and the only thing that successfully broke out is my face. Like look at this, it's getting pretty bad. I think it's from both wearing the masks and i've been eating a lot. What can i say, the only thing that can cheer me up in this kind of market condition is eating good food, okay, old, jokes aside, even though the market is pretty red today and all the gappers seem to be selling off.

I still made two trades today. All on the long side and they were both green trades, so first stock, i traded was mrna moderna, as you guys may know, already have a love-hate relationship with the stock, mostly hate. But if you look at the way, the scene kind of just tanked on friday, due to mercs getting uh positive data from one of the coveted studies, the stock on friday, tanked from almost three six three, fifty five, eight all the way down to a low 225 Um, this is a the chart on friday. You can see.

Yes, it did slowly recover near the end of the day back to 3 48, but we continue the gap down over the weekend. So the key level i was looking more short bias pre-market when we're planning the stock. I was thinking okay, if we bounce through that 330s area, which is the the the small resistance and support areas around the friday's lows, then we can see a reversal to the downside and you have downside to a daily chart around like three hundred and two three Tenths, so that was going to be the short side, but this thing started flushing down pre-market already, so basically it finished it kind of like worked out the short thesis already and after that 310 started reclaiming at the open. That's why i got him long on the starter size because remember if, if the short side is 3, 30 resistance to short into and let's say, supports at 300 310 too long, the show already happened pre-market.

So that's the reason i was looking for the long side and also ssr is triggered um, so i got in a small starter. I was using the five minute chart when i'm trading these stocks, especially when market was pretty volatile today for both tesla and mrna. I was trading on the five-minute chart, so i got a long starter ad over the v1 reclaim and especially over 318s. So some in the 320 small resistance you can see the small pre-market, uh support area and i'm not gon na lie over here is where i got a little bit scared, because market was very heavy.

So after that 3 21's reject this thing slammed down to 3 14s, which is pretty much my average actually that's below my average. At that point i have an average about 3 15. After all, the ads on the way up, because i long started added um, the voi, reclaim and added some more here 317s that gave me an average about 3 15.. So i did trim some position due to fear and impatience, and a lot of times you kind of have to adapt with the market market was looking really heavy.

So that's why i actually prefer to stay on the safer side and taking a smaller profit and then trimming down my risk. So i did sell some trim some 316 317s and it's only after this thing cleared the 320s level we talked about through the height of the data. We added back to my long position so 321's ad um after trimming position here added back to my original size and i was selling on the way up. The target was around the 330s area.

Remember 330s! That's the area! I was looking to short the stock so that it makes sense that this area up here would be a price target for the long side. So i was selling over into the breakouts you can see. I didn't quite get 330s because i was pretty much all out around 3 28 and then i had small remaining. I just got.

I just got out um. Yes, three missed three points for upside, but you can see after this thing did pop to 330s and then rejected hard back to the 322s. So especially in the kind of like a choppy downtrending market, we're in, i always prefer to just take the smaller profit. Yes, the risk reward may not be.

You know one two three, but in this kind of market condition you have to be conservative, that's my opinion and i know it saved me. Well, you have to kind of take the small wins as opposed to if we were in a more stronger market. I think this thing could have a higher chance of going back to 340s back to previous days close because myrna has done that in the past before, but for today i'd rather be conservative. So that's why i took a smaller profits here, 3 28 and they go back for some small scales.

You can see not a good entry 325 and then added 322's smaller size on the re-entries. That's just how i trade, especially in this market, the second stock i traded, is tesla on the long side i prefer to buy the dip on this monster. Tesla is tricky because sometimes when it broke out in the past, if you look at the daily chart, the last two days these two days when you're just broke out, it never pulled back. That's really strong, but at the same time today is one of those days.

It does pull back with the market and when imposed back from the 800 resistance, it dumped all the way to 788 dollars. So that's why tesla it has like almost sometimes has a mind of its own, but today is definitely one that got pulled down by the market, so on tesla i was more long, biased on the stock um. In the morning i missed the whole dip. We were looking at the key level of 787s.

If you look at this is the pre-market level and if you zoom out, that's also the resistance from the last couple of days over here right, you can see if it's from um last wednesday, thursday. That's 787. That's that's the reason that's gon na be the key level for the stock and then in the morning it never dipped there. So i missed that - and i missed it again over here when i was looking for a small pullback to the 800 psychological level for the balance to alongside uh.

I didn't quite get that so that's why i left that thing alone and i was busy uh watching my moderna long position, so it didn't get filled over there and the market started polling uh when market dumps tesla just kind of dumps with it, especially after a Huge gap up these kind of stocks tesla has a tendency of filling the gap to the downside or if it does gap up overnight, like the market and with markets selling off it kind of probably gon na test. The 780s downside, but i did get a small little bounce play on tesla. Looking at that 8787 788 area, the key level we talked about, i did get in small 789s added some 787s, which turned out to be a small scale. If we were in a normal market, where markets not just trending down and selling off each bounce is sold into, i would have stayed a little bit longer and wait for this to reclaim vuap and potentially test 800, because we've seen tesla do that in the past.

But today is just one of those days where i'd rather take the small moves, like we said um for for the same idea on madonna and kind of protect my capital, because tesla is a very volatile stock um. So that's the reason i just got out turned out to be a very, very small winner. Moderna is still the bigger play for me today, so waiting for the actual most important support levels. The the key support is very important, especially in this kind of market condition.

It's almost impossible to buy the breakouts. Let's say if i bought the breakout at 806 a lot of times that breakout fails just because we're in a downtrending market. If we were in a more bullish market, then the breakouts have a higher tendency to hold and continue up higher. This is true, especially for the large cap stocks like tesla and moderna, that has a history of following the overall market trend.

So that's the reason. Yes, i still buy dip, but i'm more cautious and waiting for the support areas um too long instead of buying the morning breakouts. Now it's time for our q and a's amy l is asking hey shay thanks for the video, as always do adjust your stop-loss as you add into positions. So the answer is yes, especially in this kind of choppier market condition.

So like we talked about mrna, the reason i sold and adjusted my stops around here is because i added to the upside, adding to my position. If i just had a starter down here at 3 10 - i probably wouldn't have stopped out here and then i adjust my risk depending on what the price levels and what the prices price action is doing. That's how i trade there are some people who would prefer to just nail the bottom entry at 310 and write it all the way to up to their price target. That's fine, too, but i do find that that doesn't suit my style, especially in when the market is choppier a lot of times.

When i tried that in the past um the stock just end up turning into a break-even trade or a small loss. So i prefer to add into the positions if i'm right and adjust stops on the way up, so whether it's i stop a break even or stop out with a smaller profit and that's personally how i've been protecting my account capital in the recent market conditions. The next question is from: where is ed, while we call today's ci move perfectly three dollar support he jumped in. Why do you think that would happen? It's not as uh complex as many people think it's just by observing what the stock has been doing in the past few days, and i believe that was that was the comment from over here from this day on september 28th, where i talked about, if the three Dollars area keeps on holding up, this thing could have a potential squeeze move to the upside, and it did and the reason i said that is because i was watching how it trades, how it trades on this day um the first time it broke above the three Dollars level: yes, it had like a harsh sell-off below three dollars, but really quickly reclaimed and if you just kind of look at the intraday chart each time it dips below that three dollars level, it gets bought back up.

So if you were looking at the time in sales and and level two and how the price action of the candles was trading, whether it's uh 15 minutes five minutes or two minutes, it confirms the same thing: there's a buyer around three dollars area. So that's the reason. That's gon na be the key support for the next couple of days. So the next day this thing dipped around three dollars and ripped all the way to 480s and then the same similar thing here this day didn't test three dollars.

But similar thing here from last friday, after it flushed down three nine three dollars, reclaimed missing, ripped back up. So that's the reason, a lot of times in trading, you're gon na learn more and make more money and be better with your executions. If you spend more time watching a chart and observing what the stocks are doing, then to just busy pressing, buy and sell buttons when you're busy, just looking for the next stock, the next hot stock to trade, you miss these little nuances and all the things that Could help you in the future on the same stock? So that's why i prefer to just execute my trades now sit there and watch all the stocks. That's you know, has a high volume has a high range, and even if i don't place a trade today, a lot of times the next day is when the actual trade happens.

So keep that in mind, especially if you're a new trader spend more time watching the market rather than just busy jumping in and out of trades you're gon na learn more this way and you're gon na progress and grow faster as a trader. If you spend more time observing so hopefully that helps you guys out stay safe in the market 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.

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