This content reviews trading activity from May 3rd, focusing on specific stock trades and technical analysis patterns, particularly double bottoms and V-web line interactions, while also explaining the absence of a regular host.
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hey guys Brian from verbal traders here
Wednesday May 3rd so I ran the room this
morning as it turns out Andrew Andrews
moving today and he woke up this morning
and discovered they had disconnected his
internet early so earlier than he
anticipated so he didn't have an
internet connection this morning so
that's why I took over on the room sort
of found out late he texted me at 6:15
6:20 so we didn't have a lot of time to
do a review and the markets but you know
we got through everything and we started
out looking at TV to have a TV a kind of
broke down a little bit at the open then
that's why I was looking for so I took
an entry but in really like the way it
acted so I closed that position out we
made a small gain on it but it never did
follow through and give some nice waves
of selling like you can see here on the
IQ chart so you know did a few few
trades in the morning and then just
wanted to go over this IQ 1 IQs when I
keep on my permanent watchlist I have a
permanent watchlist that I just keep
stocks on like mu FB Facebook micron
square and so I'm always watching these
for training setup patterns and IQs been
on my list because it's been a sort of
an active stock so you can see it I
didn't catch this unfortunately I didn't
catch this this breakdown from 17
dollars this would have been a really
nice short trade and you can see how it
it sells off and then there's some bear
flag and then it sells off again another
bear flag so you can see it's like 1 2 3
4 waves of love selling each with a bear
flag could have picked up on any of
those each time it broke broke a low
here like I said unfortunately I didn't
get that but what I did get was and what
in the trade I did do in the room was
this double bottom and people have
followed me know I love these these
setups for reversal these double bottoms
they they quite often work
and when they don't you're not taking a
lot of risk because you know my entry
here was I think it was a 90 somewhere
around 90 and you know the risk to here
is if it breaks this level you don't
want to be you want to be bailing on it
so you've got a little small you know a
small risk and my reward I was looking
at this level here and that sort of
coincided with this the view app line
and so I liked that as a trade you know
that V web line and the trade was up
around 1630 so if I got 1590 sixteen
thirty you know forty cents 10 cents
downside good risk reward fifteen cent
downside maybe so anyway yeah so I took
this trade and you worked out real well
you could see it it never made it up
here so I I did scale out a little bit
and took the final amount off just under
twenty I think and it just seemed to
flatten out a little bit unfortunately
didn't miss this we it didn't get to
this view app line but you know you've
got a you got to keep watching the stock
and when it looks like it's it's not
gonna go any further you just you know
you take your money and you run so that
was the one trade another trader wanted
to look trade I didn't do but I wanted
to talk about whether it quickly was
this again these these plays around the
vu app here's a nice people in the room
traded CAH I did not trade it but a few
people did and I guess they got a nice
it was a little choppy at the open so
sold off a little bit came back up and
you can see it sold off here and then
caught up the view app line caught up
with it and you can see it kind of
punched through here it was a false
breakout it came back false breakdown
sort of just kind of cycled along here
and and then you can kind of see these
small little patterns tailing off here
and and that would have been a great
place to to short this stock just as you
see these these
small candles starting to you know over
this period taking pulling away from
this view a plane you know was gonna
fail lower and you know probably could
have taken a target like somewhere
around here previous low but anyway it
was good for would have been good for a
trade unfortunately I didn't do that one
but I did talk about it in the room and
I did say that I would would review it
so anyway that's it for the day had a
good day and a bunch of good trades
scalped another one a I think way krx
did a little scalp on that one and yeah
so this brighter bearable traders will
see you in the more in the in the
morning Thursday and I think Andrew
would have his internet connection back
and so will will be up and running at
full force we'll talk to you later have
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