0:04 hey good afternoon guys it's Brian from
0:07 bear bull traders here it is Thursday
0:09 May 9th
0:12 I just wanted to go over traded it in
0:15 the room and then a trade I did after
0:17 and I was out and I was looking at some
0:20 this chart form and decided to take a
0:24 second trade on excl and that was one of
0:27 the ones I was watching at the open so
0:30 you can see here again it was a typical
0:32 opening range breakdown so here's your
0:37 support prior to the pre market 9:30
0:40 wait a few minutes or two just to see
0:43 where things are going and you could see
0:46 it started to lose this pre market
0:48 support right here right away
0:52 so got short and I know these things
0:55 tend to be snapping back lately so I
0:59 took some profits fairly quickly on this
1:01 one and of course it did snap back up
1:03 above this blue line which is the view
1:07 app and then it kind of just watched it
1:08 it just kind of cycled back and forth
1:11 here at one point I think Brendan said
1:16 it was a long and could have could have
1:18 gone long back up through the view app
1:19 here when it kind of made this little
1:23 double bottom and you know I like double
1:26 bottoms and I also like double tops and
1:32 this is what I saw later I saw this top
1:34 here which didn't mean a lot came down a
1:36 bit didn't get the view up but it came
1:40 back up here and tested this this prior
1:43 level of resistance which coincidentally
1:48 was pretty close to here and again it
1:50 failed and that's when I took it short
1:54 again and when you're taking it short
1:56 from here you know you've got a like I
1:58 said I love these double bottoms and
2:02 double tops you've got a pretty clearly
2:06 defined risk reward at least their risk
2:08 anyway you know if you're getting in up
2:10 here your your risk is if it goes a
2:13 little bit higher and you stop out
2:15 your reward is all the way to the
2:17 downside so I didn't get stopped out
2:19 here no though I thought it was going to
2:23 and then I just just blew down through V
2:26 WEP and covered down there so you know -
2:29 nice trades one of the open one on a
2:32 double top and and just an eventual
2:34 breakdown and I think it just stayed
2:37 weak through the rest of the day which
2:38 is what some of these gap donors are
2:40 doing but it's just taking them a while
2:45 to to resolve and I think it's may all
2:46 the shorts piling in and and then
2:48 there's a fight between the buyers and
2:51 sellers until until the sellers kind of
2:54 just take over so that was that was a
2:57 couple traits it did in the morning hope
2:59 everyone had a good day we'll see you in
3:04 the room tomorrow Friday TGIF
3:06 Brian a bear bull traders signing off
