hey what's going on everybody this is Floogiel trader Jeff author of the
book trading part-time today is Monday July the 30th welcome The Floogiel show
alright everybody welcome to the show hopefully everybody had a great weekend
today pretty crazy in the market today I don't know how much y'all know about the
market or what was going on hopefully you know something about the market
you're here every day watching this show hopefully you know something by now but
anyway pretty volatile day right new week you know what really quick let's
just jump let's see how we did today we'll talk a little bit about it and
then we'll get into the show alright so let's pull up really quick what we did
today okay today we were down yep we were down
again guys we were down 687 dollars exactly okay so again today's Monday
we're starting off the week down now listen that's nothing okay the market
got punished today I think it got punished on Friday we were down like
seven actually we were down like five hundred and seven dollars I think on
Friday 687 dollars today but again no big deal the market got punished but
again we don't just trade the market we train them we trade the foreign exchange
market we trade the crypto currency market so just because one markets down
don't mean the other one but in the equity because that's what this show is
about again as far as showing you the positions 687 dollars to the downside no
big deal that's just the way the win so what we're gonna do today is we're like
a big coin we're gonna look at a theorem we're gonna find out you know what the
market did today if it broke key support levels where it's at as far as setups to
see if we have any opportunities over
the next couple days but again today's
Monday we're down 687 but no big deal because the market was down with a lot
more promise alright so I'm gonna let y'all go if you want to watch this show
go to the blog that's where the show is post posted just go to the blog daily
market analysis section we're gonna analyze everything we're gonna find out
what happened all right so thanks for watching this first part to catch the
rest of the show go to the blog now that's where it's at alright everybody
until next time this is flu game trader Jeff author of the book trading
part-time and we'll see hopefully we'll see you in just a couple minutes inside
the blog alright everybody welcome thanks for coming to the blog I know you
just got done watching the other part on Facebook so we're glad that you're here
alright so we're gonna do is we're gonna pull the paper money account by TD
Ameritrade I'm not affiliated with TD Ameritrade our policies are completely
separate okay but we are gonna look and analyze his we might place trade so
we're gonna do that from our paper money platform okay so as you remember we were
down six hundred eighty seven dollars today there's a lot of read going on
over here read okay so let's take a look at the strongest you know before we look
at the in well look at the indexes and then we'll look at you know the crypto
currencies in a Forex so today the strongest and it was not strong was the
S&P 500 and it was down sixteen point two two points I mean the market got
crushed today it was down man sixteen okay so look what happened today we
broke that support level okay we talked about this on Friday we had a huge down
day on Friday another big down day today okay but it broke the sport level now
what is the good in all the good in all this is these two lines
are moving up this is our 10 this is our 20 moving average and our 40 moving
average one those lines are going up that means our trend is up okay so if
we're trading bullish ly that's what we want okay
now this right here is forming what's called a bull flag price pattern this is
a bullish continuation pattern so we're looking tomorrow to see if we get a
bullish harami a hammer and inverted hammer some
bullish candle pattern that can give us potential clues of when the next move to
the upside is because remember this game is all about buying low selling high so
I'm actually glad that the market got beat today because it's forming a bull
flag that was the strongest and it was not strong the next strongest again down
was the Dow Jones the Dow Jones was down 144 points 144 points we got that same
picture now this line is from a previous resistance so what I'm gonna do is this
just look at the close same picture right let me get rid of that I was from
one of my classes I do so many multiple classes but look we have the same
beautiful bull flag pattern okay so yes it was down a lot today and for people
that don't know what they're doing they probably freaked out sold their
positions but not us not you this pattern we love so what I would like to
see tomorrow is another down day yep I would like to see another down day and I
would like to see it come around this area give us a bullish candle pattern
off to the races but again the market was down 144 points the S&P was down
sixteen point two two points and we were only down 680 steps again that's nothing
go look at your 401k accounts I bet you they were down a lot more than six
hundred eighty seven dollars right after this show go to the Internet
pull up your forum okay see what it did today see if you
didn't drop more than 687 because if you did drop more than that maybe the wrong
persons managing your money maybe you should learn how to do it yourself now
this is the Russell 2000 it was down Tim
it was down 10 points today ouch okay it broke the support on Friday
continue to the downside okay now I have this next line now again I got lines
everywhere but here what we're doing guys whatever we're gonna do is right
down here
okay hmm so this is the next support level so price based on this pattern
could drift down to the next support level if bid does that then we might be
able to take a support bounce trailer right now it's below this 30 day moving
average it's below the 20 moving average broke through support not looking good
okay down big today and then the last index which was down the worst was
technology all four indexes were down today and it was down to Nasdaq 103
points so the Nasdaq was down 103 points today
ouch look it kind of looks similar to both the S&P and the Dow but now we have
this other big red candle so we have now fallen below the support so we felt
below the 40 day moving average as well so this index this along with the
Russell are the weakest indexes right now yes they were the weakest today but
if you look at the picture there the weakest based on the chart okay so again
my next support lines right here so we'll see what happens tomorrow oh man
all four indexes down to so what I'm gonna do is I'm going to now
switch charts because I want to see how Bitcoin did today
and I would like to see how aetherium did today so let's go to the trading
view charts okay and Bitcoin looked like it was down today and aetherium again I
don't know what the chart looked like yet but have you said Bitcoin was down
some people my panic but let's go look at the chart and I see what's good ok so
this is my chart on Bitcoin now we had that reversal pattern down here we went
up to our next resistance and we went up to our next resistance and so right now
price is in what's called a well it's like a pennant or you could call it a
symmetrical triangle I'll try to draw the lines on here yeah okay that worked
out well this line right here so it's in what's called if you look at this this
is a symmetrical triangle which means price is just calling up inside that
triangle if we really zoom in to this level right here you see price went up
to resistance bounced down to support back up to resistance it's inside that
channel now what do I see positive about this you see this long I don't know how
much you can see but it has a long wick which means that sellers push the price
down but didn't buyer stepped in and push it up so even though Bitcoin was
down today there was a lot of buyers because buyers pushed it from that
bottom level here all the way up to here okay so again to me if I look at this
chart it's just calling up inside a pattern ready to break okay know one
thing we don't know this is gonna break to the upside or it's gonna break to the
downside but since the pattern suggests this is a bullish trend we would expect
doesn't mean that it will price to break through this ultimately our final price
target is up there around 9800 for Bitcoin okay now let's go take a look at
aetherium okay again Bitcoin and then aetherium which
is an altcoin an altcoin is all the other coins
besides Bitcoin so if we pull up aetherium today right here let's back it
out we're zoomed in if we can get it bigger here let's try this year to date
okay tried to kind of play around in there for a minute pull this up okay
knocking it down now let's zoom it in and see we're figuring out this charting
package okay so what we had was we had a downtrend all right we had a downtrend
going on it broke through our resistance we pulled into that W bottom pattern
right here went up down up down okay now we're just floating around sideways okay
so again that's what happens usually trends don't just go down and then
reverse straight up they do sometimes and they're called V bottoms a V bottom
I explained what of the bottom padam is in my book but usually they go down and
then they go sideways before they go back up and that's what's happening here
we have this W bottom reversal pattern but again price it hasn't reversed quite
yet right now we're going sideways so today was a down day both Bitcoin and
aetherium but again it's an exhaustion after the downtrend on this chart the
other Bitcoin is a symmetrical triangle and an uptrend so those are positive
signs not negative signs positive signs a theorem is at 450 three of coin okay
so now back to our market we're gonna look at the euro United States the
dollar right now so the euro United States dollar we're comparing the
strength of the euro dollar versus the strength of the United States dollar
okay because there's a lot of people and it's called the forex market or the
currency market - well they'll trade the pairs they'll trade euro strength or
dollar strength today the Euro was up 48 pips okay as you know going back to this
chart let me go to my euro chart I'm still in this
trade I've been in this trade I've been in this trade for a while now price has
just been kind of doing nothing but today was a positive sign and we're
right back at the resistance right there okay so we might finally get that
breakthrough out of this area if we do we will target up here and then it'll
either break or it'll start to channel okay
so if I'm looking at this chart and I'm trading this chart I'm not doing
anything right now I'm looking at this level and I'm looking at this level
either to do what's called a sell a by or buy a limit order down here or a sell
limit order up here this is going sideways okay so when it's in channels
we can just trade up and down okay but it was up today 48 picks right so let's
look at the United States Canadian dollar okay so if we look at the US
Canadian dollar and I like to look at this pair because of our trade
relationship with Canada okay now this is from another class okay so in this
particular case right here it was down to date 23 pips so if it was down that
means the dollar was weak the Canadian dollar was stronger right okay now
you'll see here in the class the other day we took some trades got stopped out
today no big deal actually we didn't get stopped out today because we would have
taken profit up here just this was one of my classes that I was demoing but
this is where we got out kissed the US dollar was weak today on a lot of fronts
okay the US dollar was weak against the Canadian dollar it was weak again to the
euro it was weak against a Swiss franc today the dollar took a beatin so in the
stock market even though the stock market went down quite a bit you can you
may be lost money in there if you would know how to trade this market you could
have traded weakness in the dollar and maybach your money right there cuz I
know looking at this we've got the United States dollar look at this one
the Aussie let me just look at a couple pairs Canadian dollar okay
hey that's one pair that I'm looking for right here there I'm just looking
okay okay so now we're looking at the Euro Japanese yen like this pair this is
what's called a bull flag forming up okay so if I activate this guys hang on
let me do this kind of removing out hang out a second let me just remove that
drawing real quick boom this is a bull flag okay
now this has fallen below this resistance here but I love this pattern
right here okay this had a higher high pullback we got to bounce today okay so
this is our entry into the bull flag so you could take a trade into the Euro
Japanese yen today that means that we are looking for your strength against
the Japanese yen okay so going through my foreign exchange you
know let's get back to the let's go back to the other and this is more of as
thoughts kind of class but for my Forex class don't worry we're gonna be talking
about this in our private group okay so the strongest sector day was energy
sector so there was actually three sectors that were positive today energy
sector was one of them okay and so the energy sector again it still sideways
but it was 0.63 now it's right at the resistance okay so we might finally
break through this channel guys we're in this trade right here we did a bounce
trade we got in we've been going sideways so if they can break through
that level tomorrow we might finally get some juice in the energy sector so look
at oil it was up today okay so again if that breaks through this chart could
finally break through this resistance game we enter into bullish trades either
with bounce trades or breakout trades okay this is our breakout setups the two
that I just told you or breakout setups breakout help financials okay same thing
financials went up to our resistance pulled back okay
and so that one is a tombstone doji it's a bearish candle pattern but that's what
we would expect at resistance so tomorrow's gonna be a crucial day in the
financials we have not given the financials any love for a very long time
but if it breaks through that resistance tomorrow we might finally be able to
start paying attention to the financial sector because it was up today okay
healthcare healthcare write this down this is what you want healthcare is in a
beautiful bull flag if you notice we got in a half a position right here pull
back into a bull flag health care is now a bull flag setup you can take your
second entry into this trade well place the condition order if you miss the
breakout you can place a full position order on health care that if momentum
continues tomorrow it'll get you in the trade so I'm writing that down okay
I love that picture that is a beautiful beautiful picture can't really describe
it that is the textbook perfect bull flag so now we got real estate real
estate it's been going nasty in this it was down today we did get a hammer
candle pattern but it's in between the 20 and the 40 that means momentum it's
stalled any times it drops below or the 20 anytime it drops below that that
means the momentum stalled it's not going sideways when it goes sideways we
look for breakout setups we're not looking for a breakout setup there
that's not too good staples staples was down today point
zero six but look at this see how these lines are going up I mean this upward
trend we had a pullback okay so it's a strong it's a strong sector it's forming
a well this is a pennant but it's looking like it wants to form a bull
flag price pattern so if we get price tomorrow on a down day we could get a
bull flag setup but I wrote that down xlp for potential I really like that
health care though basic materials base materials came up to resistance
broke through it Celes pushed it back down
today it fell back down so now it's back inside this channel there's no setup
there well if you are going to do a setup you'd have to get back in with a
breakout so be looking at this over the next day or two because you could get a
breakout setup right now it was another down day utility is down
today inside of our symmetrical triangle again price is coiling up inside the
triangle right cool one up so we don't trade inside the triangle with the next
setup will be a break out of this area or a break out of this area it can break
to the downside or can break to the upside okay so right now it's inside
this triangle we're looking for a breakout okay so I still like that a
healthcare sector by far the best discretionary sector that was the next
weakest now by the way a health care was goes down with an aloof discretionary
down point eight nine point eight zero percent broke do support today broke
below the 30 day moving average no bullish setup there guys so and things
break down like that we look for strength that was down it's not strength
there industrial sector down big point seven five point nine nine percent down
again it hit resistance we talked about this Friday
and sure enough price rolled over maybe the breaks to resistance or rolls over
resistance is where there are sellers okay and again if the sellers are gonna
step in they're going to step in at resistance you know that's where the
Bulls and the Bears battle and the Bears they won that one today technology was
the weakest sector on the day I do want to look at that health care you know
space and we talked about though okay oh down today technology down one point
one to one point five six percent it was down huge on Friday huge today it broke
through support it broke through the moving average it bro
do another support below not good we don't like to trade bullish ly when
they're below our moving averages okay so yes the two moving averages are going
up but what you can't see is this one is starting to flatten out
no not for bullish okay so technology move I'm gonna get Facebook if
technology was down what are Facebook do this Facebook is a pretty big player in
technology so let's see how Facebook did today Facebook oh man down two point one
nine percent down man that's too big red days and down on a row this line right
here well we should have got already this is where price was supposed to open
up that one night so let me just delete that line real quick okay so right here
Facebook is down today it's coming to a critical level guys this support level
right here is big for Facebook if it breaks too it could fall all the way
down to 151 that has 20 points more to the downside so if you're in Facebook
watch it we're gonna be looking for bullish patterns like divergences and
things like that but I'll tell you what you should have already bought a
protective put on this trend I got told you a couple of days ago around earnings
but anyway Facebook down technology down a lot of stuff down today except the
euro was up actually almost every pair against the US dollar was strong so you
could have made your money in a currency market today Bitcoin was down a theorem
was down spy was down Dow Jones was down a lot of stuff down only three sectors
up financials energy health care take a look at bonds because if the stock
market was down we would usually think that bonds would be up and some bonds
were down okay so again people weren't taking their money see one name is
people when they move their money out of the market they don't just sit on the
side as they move it to another market a lot of times when people pull out of the
the stock market they'll go to the bond market okay they didn't do that today if
you notice the euro was up the dollar was weak so people took their money
in the margarita day and bought here oh right
again they so took their money out of the stock market and they put it today
in the currency market right yeah you just gotta find out where the money's
going and then followed that wasn't in bonds today it was down interest rates I
want to take a look at our interest rates financials were up so we would
expect interest rates to be up that would be the correlation we would expect
this chart to be up plus the bonds were down so it usually means interest rates
were up interest rates were up point one five point five one percent so interest
rates were up today this is the ten-year Treasury yield so bonds were down
interest rates were up financials were up huh cool money moved out of the stock
market into the currency market again all these correlations guys all these
correlations okay let's just take a look at gold you know we got into gold the
other day the market was down right so let's see how gold did gold was down a
little bit all right Gold is down right now to the sideways
mess we're in gold we got in the other day right now it's just going sideways
no big deal so I'm gonna drop it to a three-month
chart and I want to go look at some stocks really quick in the healthcare
space right okay the healthcare space because that
was a strong sector take a look at the sector again this is the healthcare
sector we have that nice bull flag so I'm gonna look since that's a strong
sector my job is to find the strong sectors and go trade the strong stocks
in the strong sector so let's go through our watch list this is the healthcare
watch list right here so this is what we do every day guys we look at the we look
at the market we look to see what happened we look for strengths and then
we go find the strong stocks or no yeah I know what I'm looking for right I'm
looking for a strong stock came not yet but that is a potential bull flag see
how it went up and it pulled back to me it hasn't pulled back enough yet I like
to see that move at least halfway in that channel okay this sideways mess
okay yes those two lines are going up see how that's going up the price fell
that's not what I'm looking for not what I'm looking for
that's a higher high now I'd like to see a pullback okay right here this is what
I'm looking for in d-t okay MDT is what I'm looking for so
write that down oops write that down that's the picture that I'm looking for
up today was a bullish harami this is ATR this is called the average true
range I like this I like this trade for what's called an ATR trade okay but it's
a wolf-like pattern but I like it so I'm writing that down because I like that
one okay right there the breakout setup but
I'm not looking for a breakout setup right now I'm looking for a bull flag
bounce setup higher high that's it see this is a bull flag but not really
because look what I it's not pulled back enough right now it's just went up and
it's going roughly sideways okay so there's nothing in that trade yet you
and H know was the other sector I rode down today the strong sectors were
energy financials and health care so let's go look at the energy sector
really quick we've got some time okay I got MDT though we do like that one MBT I
like the ATR if I like the setup time to start making some money we had a couple
down days in a row markets been damn it it's what happens
when you're bullish portfolio the market goes down that's what you would expect
no no Bear Flag okay she's down this is a Bear Flag Halliburton for a Bear Flag
I don't know what a bear flag is my pin stop working just know that that's not a
bull flag it's the opposite right so Halliburton Bear Flag okay
Bear Flag this is a beautiful picture that means we would expect it to go down
because the trends going down we would expect to go down up nothing up nothing
up nothing nothing this could be forming up soon I'm just going through you look
for some stocks we have a couple minutes I'm gonna flying out there right now I'm
gonna go through the financials see this is what I do every day this is a bull
flag but see it fell below this level don't like that it's got a Bank of
America let's just no okay I'll do it for specifics I got MDT as a bull flag
Halliburton is a bear flag right that broke through the symmetrical triangle
today so if you like that that would have been an entry into Berkshire
Hathaway today entry symmetrical triangle see that's up up you know I
like some of these charts you know what I would like to see some pullback in
these charts and this could be this could be where I'm going over this week
okay dad we got a breakout set up Morgan
Stanley okay didn't break out yet but I told y'all that Friday it's a breakout
set up so ms breakout set up okay USB up up you know what I like this funny I
mean I like the sector but I like some of these stocks in that sector over the
next couple days right so I'll tell you what guys I'm writing the financial
sector down on my list because the stocks MDT M DT I want to go over here
and I want to see how their options are 4 million ok so what I'm gonna do is I'm
going to you know not do that after the show or it does you in my paid class so
those are you in my paid class like we're going I'm going to record this and
I'm going to post it in that section so if you're not a member of the training
part time master class or the stocks online coaching a live class then you're
not gonna have access to it but I'm gonna place what's called an ATR trade
after I get off this recording I'm gonna go do this trade bull flag ATR Trey
blanket all right everybody hopefully you enjoyed it I went over a
lot of stuff today there's some cool things I wrote down some good stuff we
were down today's 687 the market was down the sectors were down a couple
sectors were up MDT I'm gonna go back over it again sorry cuz I really liked
it and I'm gonna look at this 40 Delta ok telling you right now like what I see
MDT Alright everybody until next time this is Floogiel trader
Jeff hopefully you enjoyed the show. I'm author of the book trading part-time if
you're not in my classes join it go to my blog
if you're kind of curious about what we offer all right I'm ready until next
time peace
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