This content details a specific short-term trading strategy, focusing on an "open range breakdown" trade executed on the stock HTZ, emphasizing patience and focus on a limited watchlist.
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hey guys Brian from bear bull traders
here it is Tuesday May 7th and just
gonna go over a trade I did in the room
this morning Andrew also was in on this
trade and it was on htz I was watching
this stock and another one I only kept
my watchlist a two this morning yeah
there were a lot of opportunities to
look at but again as I say before I I
don't like to get bogged down with
watching too many things because then I
tend to miss opportunities so try to
pick one or two good ones and watch and
focus on those so you can see here the
open at 9:30 it really didn't do much
continue to watch it and we had a bit of
a short squeeze here took us back up to
this you know pre market high pretty
close and this moving average and failed
from there so I really started to focus
on it at that point and this was gonna
be my sort of line in the sand here as
this thing came down this was the line
in the sand where watched the thing
break down and then take a short
position so I under got in a little bit
lower than I did I was watching it I had
it on my radar so I was watching a
little bit earlier I've got into it
around 1950 I believe and you know
traded it down to just above 19 I think
1902 or 1903 so when I got out and kind
of found a bottom there so again this
was sort of a classic open range
breakdown they they've been a little bit
choppy these opening range breakdowns so
they have to be a little bit patient
with them now before I was posting these
they were a little bit cleaner but there
seems to be a lot of people playing
these you know they get short pre-market
and then you get this squeeze you know
after the open these people that have
gone short all of a sudden find
themselves getting squeezed
and some of them end up selling and for
a loss so it's a matter of patience I
think for for some of these now just
letting them play out before taking a
position so anyway that was my trade
we'll see you in the room tomorrow
morning Brian a barrel traders signing
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