0:02 hi everybody Brian from gravel traders
0:06 here Monday May 21st we did a few trades
0:07 in the room this morning
0:10 fi TB was on my watch list for an
0:12 opening range breakdown we traded that
0:14 and Andrew traded that as well I won't
0:17 talk about that just a nice break down
0:19 but it really does and ER said it didn't
0:21 break down as much as we had hoped so
0:24 anyway he still caught a nice nice drop
0:25 on it at the open and then covered
0:29 around the whole number so NK tr1
0:31 was when I did a little bit later I
0:34 always look for bottoms around this 10
0:37 o'clock time frame and I go to the TI
0:40 Gabor's watch list as one of my go-to s
0:42 for you know looking for these trades so
0:43 I got the bottom of the list and look
0:47 for the ones that are down and I look
0:51 for ones that are that I've traded
0:53 before like ones that I I recognized
0:56 like NK TR I recognized that stock I
0:57 think I've traded it before and I also
0:59 look for volume so anything that's over
1:01 like a hundred and fifty thousand chairs
1:03 someone in that range you don't want to
1:04 go any lighter than that because that
1:07 means it's not trading very much so
1:11 anyway found NK TR and announced it in
1:12 their room I was looking at it as a
1:15 double bottom I was looking at here I
1:19 really was for a good double bottom I
1:21 would have liked to have seen this thing
1:25 pull back to this level and yet you know
1:27 just watching it for you know minute or
1:29 two it could tell it probably wasn't
1:32 going to retrace to this level it was
1:34 probably just forming a bull flag there
1:39 so I took the entry around 50 82 55 I
1:45 think it was and yeah it started to to
1:47 take off from there my stop would have
1:49 been you know sort of the low here on
1:53 this candle and but it it went well and
1:57 my first target was the whole number the
2:01 83 so it got to there and my next target
2:05 was the V whap and it got to there and
2:06 that's kind of where I took the rest off
2:11 around the you know the 8450 level and
2:14 or 8350 level and then
2:16 you know the next target would have been
2:17 in the next whole number which is 84
2:19 which would have been you know right
2:22 around this level here and it actually
2:25 went to there but I I scaled out of it
2:28 and was out of it at the V whap so
2:31 anyway I hope people somebody people
2:33 looked at that trade and took it as well
2:37 because I was a nice nice reversal and
2:40 wasn't perfect and so I didn't I didn't
2:42 take as many shares as I would have
2:43 owned if it had come back down here
2:45 would have probably taken more shares
2:49 but because it was you know because it
2:52 wasn't a good double bottom I reduced
2:54 the share size a little bit someone
2:56 asked us in the room on when we were
2:58 doing the webcast about you know your
2:59 share will help you decide what share
3:03 size to take and sort of that's you know
3:05 I guess that's one aspect of it you kind
3:07 of make that call on the fly is this a
3:09 perfect setup or is it you know a good
3:12 setup in my mind this was a good setup
3:17 but not ideal so anyway that was an KTR
3:19 trade like said I hope some of the
3:21 people took it in the room made some
3:24 money on it and the other one I was just
3:26 gonna talk about quickly was see PB I
3:28 got asked a question about head and
3:30 shoulders patterns and whether they
3:31 trade them and how they compared to
3:35 double bottoms I don't see head and
3:38 shoulder patterns that often as I
3:42 mentioned to this member but I did
3:44 notice one this morning on CPP I did not
3:46 trade this so this is not a trade I did
3:48 but you can kind of see there's this
3:51 there's the one shoulder the left
3:53 shoulder and this is a reverse head and
3:56 shoulders because the head and shoulders
3:59 is the is is the opposite of this goes
4:01 up and then comes down this one you know
4:03 you can see the shoulder here and then
4:05 there's kind of the head forming and
4:09 then the other shoulder forms and you
4:13 know once it breaks this level here you
4:17 know it it will tend to go higher so it
4:21 did pull back to that level and so you
4:22 would have set your stop probably in
4:24 this range which you know below this
4:26 moving average which you wouldn't a hit
4:28 and yeah that would have been a nice
4:32 trade so that's a head and shoulders
4:34 pattern like I said you know I don't see
4:36 those very often and therefore I don't
4:38 trade them very often but they are
4:41 reliable trades and if you do if you do
4:43 happen to see this pattern tracing out
4:47 then it's a good trade to take so good
4:49 risk reward on it you know if you two
4:52 entered here and you're sort of risk was
4:54 you know down in this range somewhere
4:57 you didn't have a lot of a lot of risk
5:01 and a pretty pretty good reward if you
5:03 you know got through V WEP and then went
5:07 higher from there so anyway that's it
5:09 hope everyone had a good day today
5:13 we'll see you in the room tomorrow have
