0:03 hey guys brette barrel traders it is
0:06 Friday May 4th and just gonna go over a
0:10 trade I did in the room SQ I think I
0:13 mentioned before that I do keep a sort
0:15 of a permanent watchlist apart from the
0:18 watchlist we build off of trade ideas
0:21 and you know mourning gaffers and stuff
0:24 like that I do keep a separate watchlist
0:27 of just trade stocks I like to watch and
0:30 trade ones that are tend to be pretty
0:33 active that other traders trade like you
0:36 know mu and s q obviously you know
0:41 Facebook so a number of those and some
0:44 of them will be sort of current ones
0:47 that are active and they'll drop off the
0:48 list but excuse when I sort of keep on
0:52 regularly so anyway let's take a look at
0:55 the price action here we sold off pre
0:59 market first candle in the morning we
1:03 made an a low and then we ripped higher
1:06 didn't really expect that came back up
1:08 to you know sort of the pre market high
1:13 levels and got some resistance there and
1:14 then we did you know about four ways of
1:20 selling so we got one two three and then
1:24 four I like to look at two two up
1:28 candles before I consider that a you
1:30 know it's sort of a bounce this I
1:32 wouldn't consider a bounce single single
1:34 candle so we get kind of four waves of
1:36 selling but really what was important to
1:39 me was this double bottom and you people
1:41 who watch me watch my video yesterday on
1:44 IQ I love these double bottom plays so I
1:46 got in it you know I flagged it in the
1:48 room was I saw this thing coming down to
1:53 this the the morning low and I said see
1:55 if it holds here was going to take an
1:59 entry on a double bottom so so I ended
2:02 up coming in at about 48 24 is where I
2:06 took my entry it my stop was going to be
2:09 you know sort of under for the 48 12
2:13 level and you know my reward was
2:16 be back up here at the roughly around
2:19 the view app so good two to one risk
2:21 reward ratio and like I said I always
2:22 love these double bottoms because they
2:24 give you that kind of they usually give
2:27 you that kind of a risk reward so as
2:29 soon as I took the trade yeah a minute
2:32 or so after I entered it it took off and
2:35 I didn't actually expect it to to launch
2:39 like that but you know took some off
2:43 around the 4850 level just under the v
2:46 WEP and then held some for the punch
2:47 through the view app and I think I took
2:50 my last bit off at the 4870 so I got a
2:54 decent decent pop on that and and like I
2:55 said it was a little more than I had
2:58 expected but I'll take it so love these
3:02 double bottom plays always watch for
3:05 them and when I see one forming up I'll
3:09 bounce it and probably trade it so
3:13 everybody have a great weekend get out
3:15 have some fun with some family friends
3:17 relax and joy do something healthy and
3:21 we shall see you in the room on Monday morning
