Short the Market Breakouts on SQQQ and TSLA - YouTube

so market uh you know spy as you know the  

state of the market was a huge gap down the  last couple of days was brutal just because  

the inflation is not still in the control and  everyone is fearing that uh feds are gonna be  

more aggressive in uh raising rates and that  slows down the economy and really no one has any

all right guys good morning everybody uh  this is andrew i'm gonna do the recap uh  

sorry yesterday i had a really bad day it was lost  and i was just not feeling well and i didn't do  

the recap but it was a really bad day so market uh  you know spy as you know the state of the market  

was a huge gap down the last couple of days was  brutal just because the inflation is not is still  

in the control and everyone is fearing that feds  are going to be more aggressive in raising rates  

and uh that slows down the economy and really no  one has any you know no company is really having  

any potential growth that's why everyone is coming  down so it was really really brutal uh brutal last  

couple of days qqq and spy both of them lost  uh you know gap down and traded all lowered  

uh right now what we saw here queues were  gapping up but really strong through the  

previous day close it's bouncing from the previous  little close because it's really oversold but uh  

uh you know there was a potential that we can  go lower it might not really go as much as  

uh you know two three percent again but it might  you know trade around that as as of now it doesn't  

seem that market has any uh you know strength in  it until tomorrow the feds meeting they come and  

announce the um interest rate uh uh increase and  see what they say they might say you know 0.5 half  

a percent or 0.75 percent nobody really knows yet  but you know usually they don't like to surprise  

the market but definitely there are some high  interest rates already price thing in the market  

um so traded today for me again the market's  gapping capped up today and we really didn't know  

which direction we want to go the gap up was not  as strong enough it wasn't like two three percent  

gap up so it was like a little gap up which is  normal after a couple of i had weak days and  

what we saw here was that tq really hold for two  minutes and then eventually came above the remap  

and uh i um just went long for one minute to open  range break up we did pop up but we came down and  

i got it stopped out at 23.55 so it really uh the  one minute opening range break up didn't work out  

even though we had two dojis and came above the  revamp but again you know sometimes it doesn't  

work it went up i didn't partial and then it came  down and i got to stop that and i'm glad i got a  

stopped out after that it just went down so tkq  is the leverage gtf for a qqq so if the index of  

nasdaq goes up this one goes up three percent uh  the short version of that is sqq after i noticed  

that tqq is really not having you know this this  chart is exactly the inverse of the other chart uh  

and then after that i got to stop doubt i flipped  my position to the long and say okay let's get the  

run for i gotta stopped out first but eventually  after it came back up i had noticed that we really  

didn't want to get a five minute opening range  break up on it the market is weak and then after  

that i got this beautiful run and sq qqq you could  essentially short uh you could essentially short  

tq as well if you have the shares it would be  exactly the same pattern because these ones are um  

the opposite of each other and they're derivative  they call them derivatives because they are the  

price is not based on price actions based on the  you know the underlying assets that they have  

and i tried to add again for the another breakdown  of queues or break up of sqq but it really didn't  

work out and i got it stopped out with nothing  tesla was another trade that i did was a five  

minute opening range breakdown again it's kind  of the same trade because when the nasdaq is  

dropping the tesla is also dropping uh but  i like the price action and pattern here on  

tesla for five minutes you can range break down  from 650 all the way up to 634 so that was a  

that's a very beautiful drop that we got here  and that was my trade brian how was your day

um my day was pretty good you um you know  you were in sq and um uh just around um  

just before 10 o'clock um i kind of noticed  maybe the sell-off was was uh done because it  

it made a nice little double bottom pattern so  i i took along just over just around 23 we're  

just a little bit over and uh got a nice move  all the way back up to uh to the view app um we  

partial to on the way up once but uh yeah i got a  nice little bounce on that double bottom pattern  

that i like to trade and then i uh i did a on pqq  yep second bottom was just before 10 o'clock there  

and then on a two-minute chart and then you  know i did a bunch i did a bunch of other  

trades but it's pretty i'm i'm tightening up  my uh my trades and do almost more scalping i  

did a bit of a scalp on amd i knew we were  going to get into some range bound trading  

at the open so i tried to trade the break out at  88 failed so i got stopped out came back down to  

um to around 87 30 and i uh had to write  at the open and i got back in thinking we  

were going to be chopping in a range and it  went back up to 88 got out of it there so  

anyway yeah so that's uh you know i just did a  bunch of other little trades one on neo through 17  

oxy i got um as again a bit of a just a  scalp so overall it's been a pretty good day  

made money awesome that's excellent so there is  uh something very important uh um brian is gonna  

have the webinar tonight about uh rising devil  and uh uh what was the other one that you had  

this fallen fallen angel there's actually  four of them i'm going to go over there's  

four there's four possibilities um with a stock on  the open of news and uh so we'll go all go through  

all four of them got some examples and uh yeah  awesome tonight baby i think this is essentially  

i think the first webinar that brian is doing  it i don't know if peter is joining to all but  

definitely will be there so thank you so much and  uh yeah come learn from the legend himself brian  

profit of profit and the market is uh doing uh  nothing really is really around previously closed  

it doesn't seem that he has enough strength to you  know trend higher or may not really necessarily  

uh go much significantly lower from capital office  ada you can see aldi in the background there they  

say hi so ardy and i are gonna go uh at the close  we wanna go at youtube live guys and dr reed dr  

kenneth reed is gonna come and join us this is  his fourth bear market and he has a lot of insight  

about how traders can trade in a bear market and  what you can learn so one of the things that i  

notice in the bear market is that trading indexes  are significantly you know easier than stocks in  

player because the volatility is really on the  overall market and how you can actually look into  

uh you'll benefit from that so that's uh something  uh you know i encourage everyone join us guys it's  

at 3 30 uh on the eastern time or 12 30 in the  pacific time just before the close and if there is  

any crazy activity on the close we can look into  that yeah so i closed my day was a pretty pretty  

solid day and uh yeah have a good day guys i'll  see you tonight today in the youtube live cheers

you