Bullish Set-Ups & Entries | Connie Hill | 7-30-19 | Technically Speaking: Trading Stocks & Options

Bullish Set-Ups & Entries | Connie Hill | 7-30-19 | Technically Speaking: Trading Stocks & Options

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Good afternoon. Do we have any dog
lovers in the house? As part of our
discussion today, we are going to talk a little bit. I’m going to share a
dog story with you. Hold on tight. [MUSIC PLAYING] Well, you may or you
may not be a dog lover. And either way, you’re
welcome to our class today. In fact, I appreciate
you showing up and would welcome your
interaction in our discussion today. Now, this is
Technically Speaking, in which we talk about a
lot of technical things. And our focus is on
trading stocks and options. So we are going to
do just that today. Our focus is on
short-term swing trading. We haven’t visited this topic
for a while, so let us proceed. I’ll go through some
quick disclosures, and then I’ll lay out
our agenda for us. Options are not suitable
for all investors. There are special risks
inherent to option trading, expose investors to potentially
rapid and substantial losses. Spreads, straddles, and other
multi-leg option strategies can entail substantial
transaction costs, including multiple commissions, which may
impact any potential return. In order to demonstrate
functionality of the platform, we need to use actual
symbols, past performance of any security or strategy does
not guarantee future results or success. All right. It looks like a few of
you are joining on here, which I’m happy to see. Just a little bit about me. I’ve been a coach here at
TD Ameritrade since 2004, and I had started
trading in 2001. So as far as some of the
veteran traders in our group, we have some that have been
trading even longer than that. We have a nice
coaching staff that really has been through the ups
and the downs of the markets and can– our intent is to help you
weather that a lot better than perhaps we did. Today what we’re
going to focus on is we’re just going to define
swing trading and setup. Now, some of you may
be familiar with this. Some of you might not be. We’re going to talk
about identifying short-term bullish swing trades. We’re not going to dwell
on any bearish ones. The focus is going to be
determining potential entry signals, price targets,
and initial exit orders. All right? And as we come
along opportunities, we’re going to use the
thinkorswim platform, obviously starting
with the charts. All right. So defining swing
trading and setup– a swing trade is a short-term
trade that generally lasts about two to seven days. OK? If you get in today and
out tomorrow, that’s OK. That’s a swing trade. Swing traders
define their entry, stop, and target prices
before entering the trade. In other words, you plan
it out, and then your plan is to trade that plan
that you just created. Many times, traders
will put in– and we’ll do this here today–
their target and their stop as part of their– following through
with their plan. Bullish swing traders
typically enter near support and exit near
a potential resistance area. Swing traders usually
attempt to trade the prevailing intermediate
and long-term trends. In other words, they want to
swim along with the current. If we’ve got a bullish
market, typically they’re going to look for
bullish trades. If it’s a bearish
market, typically they’re going to look for bearish. We’ve mainly been
in a bullish market, so of course that makes sense
that’s what we would follow. A setup is what the
stock price action looks like just before giving
the potential entry signal. We’re looking for
what it looks like. In fact, that’s
going to be where our dog story comes into play
here in just a few moments. All right. So let me get through a
little bit of this animation on the graph here. We have a stock that is
essentially upward trending, and it peaks at this point 1. Then it has a two to
five-day pullback. Right? Two to five days is ideal. Sometimes the pullback
lasts a little bit longer, but you still might consider it. OK? But at least you know
what ideal is to look for. Then we see this
stock sitting out after the pullback, a
potential support level. And we look and identify here. Let’s see here. There we go. That’s the arrow
I wanted to see. All right. We see that that low is
higher than this previous low. So the idea that we’re
having higher highs, higher lows leads into the idea
of what kind of trend we have. You could also
use, if you wanted, the 30-day moving average
to help you identify what the trend is as far as is it
moving in an upward direction or is it more sideways. Has it started to turn down? But usually, they’ll
compliment each other. Higher peaks, higher
troughs may at times give you a little bit quicker
signal that either one of them could be valid. All right. The entry signal on bull flags– we want to identify a bullish
candle pattern near support– near potential support levels. OK? So we’re back to
this candle again. We’re going to trade the
bounce as it happens. And sometimes what
people might refer to as a bounce could be further
clarified as a potential bull flag. And a bull flag,
essentially, is a quick running up of the stock
in a really upward manner. There typically isn’t a lot
of sideways action there. It’s many times just
a pop, pop, pop, and up it goes as
far as the flag pole. And then the consolidation
here is our flag. And so sometimes
we’ll see it pulled this way back to support. Sometimes it might
be a little flat. That can be a valid
setup as well. We’re not going to look
for that so much today. Stock trades above the
high of the low day is what we’re looking for
for the actual signal. And determine what time of
day to activate the order. In other words, if you get
a trade that goes higher than the high of
the low day, and you want it to execute based
on the move of that, you can if you identify that. Or you could say,
you know, I want to wait till the end of
the day before that occurs. And you want to wait for
that more sure of a signal. You could determine
to do that as well. Then we have confirming
the bounce, stock trading or closing above the
high of the low day near the end of the day. And that’s where we are talking
about you’re getting pretty close to the close, and
so you have a good feel if it’s going to
stay there or not. Because sometimes you’ll see
stocks move up initially, and you think they’re
meeting that condition– for example, here. But you might want to wait
till the end of the day to make sure that
they still stay there. Now, as far as targets and stop
orders go, on a sweet target, typically you’re looking to
hit the last previous high. Let’s see if we have
some arrows here. So this would be
the swing target. This was the last previous high. This is the stock pulling back. We’re looking at the same
picture of the stock, just at different points
in time, then having a close above the
high of the low day here, and then the expectation that up
here at the top of this candle is going to be the first target. And then the second target can
be determined a number of ways. It could be determined by the
length of our flagpole here could be one way to do it. We could measure the
previous price from support to resistance. So here’s our resistance. We could come down
here to support. This would probably be the
low candle on that day. And so we’re essentially
looking for that same type of a move as a second target. So on the flag target, we can
measure the previous price move from support to resistance. We add that distance to the
low to the low of the low date or add the distance
to the entry price. So there’s a little
subjectivity as far as where you might actually place
your target and/or your stop. OK? We see the visuals here. We see– here is our
run up on the bull flag. Here’s our little pullback. The initial exit would
be below this low. If it goes and breaks
out, the expectation is that it’s going
to keep moving. In this case, it moved somewhat. All right? The full flag target
could be up here, but the initial one would
be the swing target. And in this case, it looks like
it did at least hit the swing target, even though maybe it
didn’t make the entire move up the flagpole. All right. Let’s do this. Let’s go out to our thinkorswim. And first of all,
with our thinkorswim, welcome Pierre Paul
as well as others that are chatting in there. Is to identify– since we said,
hey, typically swing traders want to follow the overall
movement of the market, let’s just look at our SPX here. Typically it’s a good gauge
for the overall market because it encompasses
500 large cap stocks. I should say mostly large cap. Now let’s do this. Let’s zoom in a little bit here. We have our 30 red– our red 30-day moving
average, I should say. It’s going up. And then we’re also
seeing– in price action, we’re seeing higher
low, higher high, higher high, and so forth, even
here, pulled back a little bit, but nothing lower than this. So we still have the
uptrend in force. And we have a few
days of running up. Two days ago, it set another
all-times high, 3,027. And then yesterday
was a little bit of a pullback day, not major. And then today, the market did
start down earlier in the day. So we see the low on
the SPX was 3,094 cents, and then from that time, it
started to rally a little bit. So basically, this is
just a confirmation that the SPX is continuing
in a bullish trend. Now let’s get to our setups
here because we’re going to look at the setup first. Remember, the setup is what
the stock looks like before it gives the signal. So let’s take a look here
at, first of all, Facebook. You guys have heard of Facebook. And let me zoom
out a little bit. Now, this is where the dog
story comes in, whether you’re a dog lover or liker or not. OK? Some of you, back
in your memories, may remember a study
that you probably learned about in a science class
or maybe an English class– I’m not sure– of an experiment
that was done with a sir– now I cannot remember
his first name– Pavlov, who documented and
did some tests on dogs. And the test he was
doing was trying to see if they would salivate
more because they knew perhaps that food was coming. And so he tried doing
some different things with these dogs. And the thing that
kind of resonates or the biggest part
that most folks remember is that the dinging of a
bell equated for the dog, because it had been
preconditioned, that it was going to
have food brought to it. All right? So initially the
dog might hear, say, a person walking in the
door, shutting the door, and knowing it was
time to eat, and just getting all excited
for that food. And then they change the
experiment a little bit, and they just did a
little ring of the bell. Whenever they had
the ring of the bell, that dog would
start to salivate, because it would know it
was time to eat, or at least it thought it was going to be
time to eat, because every time he had heard it in the
past, then food did come. All right? So the dog became conditioned. Now, what does this relate to
what we’re talking about today? Well, it’s the idea of a setup. OK? The setup is the equivalent
of the bell ringing. It’s getting ready. It’s not quite there ready
to pass out the dog food or to hit your trigger
to say buy or sell, but what it is doing
is preparing you so that you see
it ahead of time, and then you can be
watching for the signal. And so what I’m going to
say is when you see a setup, you should be salivating. You should be– not that
any of us are like dogs, but you should be
excited for the fact that you’re seeing
a setup, and it could lead to an entry signal. So let’s look here on Facebook. Facebook has had some peaks and
pullbacks, peaks and pullbacks. More recently here, had a
couple of days where it just had a sharp entry– not entry, a sharp
upward action. And typically we like to see
this go on a little bit more. But the thing I want
to focus on here is the pullback
from the peak point. So we have our peak
there at 208.66, and then it turns into a
bearish candle that day. We had a second day. We have a third day of
this pulling back activity. Now, so that we know we
have a signal, so that we know when the dog food
shows up and when it’s time to pull the
trigger, we want to see the stock close above
the high of the low day and the pullback. So here we have our
three-days pullback. And I’m going to
zoom in a little bit. And the day– just visually, we
can tell the lowest stay here where the stock went
the lowest is yesterday. And yesterday’s low was $195.30. So today, to get
the signal, we are looking for a close above the
high of the low day or a close above the high,
which was $199.63. So here we have today. The price of the stock is
at $198.61, so it’s about $1 away of closing above
this high point that came on from yesterday. All right? That is one setup. Let’s look at another setup. Let’s go to– I do want you to notice the
earnings are out of the way. They already had their earnings. And sometimes that’s a concern
at this time of the year when we have so many
earnings announcements, and people don’t necessarily
want to trade over an earnings. OK. Let’s look at another one. Their earnings are out
of the way as well. JB Hunt Transport. Let me zoom out so you get a
little bit better view of where the stock has been. It’s actually been downward
trending for a few months. It has what we might call a
little bit of a double bottom. Let’s draw it in here. There we go. I lost my price
level for a minute. So we have a double bottom. Around $85.28, the stock
finds some support, runs up, finds some
support again, gets a boost from its earnings announcement. And the 30-day is headed up. The 10-day, which is our
short-term moving average, is headed up. But we’re starting to see
the resumption of an uptrend without being clear up at
its high points of $114. Now, as we zoom in here, look
a little bit more carefully, we have the stock rising up. It has a high point here, and
then it starts to pull back. So we have about
three, four days here in this little pullback. This didn’t amount to much. And we see, OK, what’s the
low day in the pullback? Well, at this point, it’s
going to yesterday’s low. Yesterday’s low was $101.85. The high this day was
$102.89, so today we’re looking for a close
above $102.89. Well, where’s the
stock right now? The stock is at $102.32. It’s not there, but
you know it’s close, and you know that it has a
setup that you’re looking for. OK? So the bullish move, two
to five-day pullback, and then looking
for this to close. Now, what happens if today, it
does not close above $102.89? What if it doesn’t
quite get there? Well, in that case, if it
doesn’t close there or you don’t take a move off of
that– because sometimes, people will say I’m going to do
it off a move of that price– then today becomes the low day. And tomorrow, you
would look for a close above today’s high price, which
is $102.39 so far, $102.39. And you would look for
a close above that. So regardless of whether
it does that today, we still see a setup. That setup may move
into tomorrow as well. Nothing wrong with it. In fact, sometimes some traders
like to find it at this point because they haven’t
missed the trigger pull. They are waiting. They’re ready to pounce on it. OK? So those are two
examples of setups. I’m going to show you one more. And this one, Western Digital,
has a very pretty setup. The thing with it is it has
earnings coming on the scene tomorrow, so many people
might shy away from it. So we’re going to acknowledge
that earnings is there. But it’s the setup of
the chart that I really want you to focus on. So we have a nice,
upward-trending stock. That stock hits a
new high, $57.86. And then we see a little
bit of a pullback here. In fact, we see about 2 and
1/2 to three-day pullback. The low is right here. This is the low in the pullback. Yesterday’s high was
$56.01, so we’re looking for a close above $56.01. Currently, if the market were
to close right this minute, this would go from having a
setup to having an actual entry signal. Again, many people might avoid
it just because of earnings. But I wanted you
to see something that was a little bit more
picture perfect in terms of what the stock should
look like on the chart. All right. Let’s change gears. Let’s do something real quick
on our Activity page, Activity in Positions. OK. It looks like we do have
some Facebook already. It’s not a full position. Well, I shouldn’t say that. It’s 68 shares. And I need to add or
net liquidation here so we’ll see what– what it’s adding up to. Let’s turn on our
net liq, add that. And it looks like the net
liquidation here on Facebook is about 13,000. So it is actually getting
close to about 15,000, which would be pretty
much a full position. If it was much lower
than that, then we might consider
an entry on Facebook at the appropriate time. Now let’s come over
here to a stock you’ve probably heard about,
Micron, semiconductor stock. They had their earnings
back here on– at the end of June, the 25th of June. And that allowed this
stock that, at that point, had just kind of been
having a basing pattern. And a basing pattern means that
it’s just consolidating, not really making a lot of moves. Sometimes people say, well,
it’s trending sideways. And sure enough, it
was trending sideways, forming a basing pattern. And their earnings
is what sparked it to just basically
have a nice breakout above that resistance area. Now it’s sideways trading zone. And then it started a pattern
of higher highs, higher lows. Now, as we look a
little bit more closely, we can say, oh,
yeah, look at this. The stock– I’m going
to draw a picture here. I’m going to start on the
lowest point of this candle, and I’m going to draw it up
all the way to the top peak. And that looks like it took
eight days, seven bars, a 14.5% move on this flagpole. That’s a pretty decent
flagpole, isn’t it? Now we’re going to see our
two to four-day pullback, two to five days. We have– it starts to pull
back a little bit here, but certainly we have
our two days here. The lowest day in the
pullback was yesterday again. Yesterday’s high was $46.97. And right now, the
stock is at $47.65. So if the markets were to close
right now, what would we have? Yeah. We would have our entry
signal, the thing that says, yeah, pull the trigger on it. OK? Now, you and I aren’t going
to be sitting around together 15 minutes before
the market closes, so we’re going to take
some action on Micron. All right? Now, Micron is a pretty
liquid stock, isn’t it? We know that earnings
are out of the way, so we don’t have to
worry about that. Let’s go to the Trade tab. And there we go. Let’s look at some possibilities
of some trades here. Now, the stock is always–
that’s one thing we could do is buy the stock outright. We could also put
on an options trade. Now, I’m going to propose we
do an options trade today. That’s a swing trade. And remember, the swing
trade doesn’t last that long. Now, Micron has some
weekly options available. Of course it has its
monthlies, the August, and then the September,
and then October. How would we decide
which series to look for? How would we know? Well, in a swing
trade, do you think we need to purchase 171 days
or 80 days or even 52 days? It could be a little bit
subjective on some of these, but probably not
October or January. Those are quite a
ways out, aren’t they? Now, many times– and
traders don’t always do this, but some find a safer or
more conservative approach– I’m going to say conservative
instead of safe– is to buy as much
time as you think it needs the stock
to make the move and then add on
some buffer time. Maybe that’s 25
or 30 or 35 days, or something in that range,
or it could be higher. All right? Let’s go over here
to our charts. And it took 1, 2– it said it took it eight days
to move from here to there. I’m going to come over here. I’m going to
duplicate the drawing. And we’re going
to put it on here and see where it looks
like it could possibly go. If we get our breakout here– I’m going to put that
on today’s candle because that’s about the
price it would be breaking out of the flag. Now, this says it could
possibly go up to $54. That would be the second target. The first target is
going to be this $48.70. All right? That’s going to be the
most previous swing high. So that isn’t a huge ways away. That’s about $0.90 away. But it still could be
considered a first target. Somebody could consider taking
off part of the position. Or somebody could
say, you know, it’s not that far because the
pullback wasn’t that long. And they might
reach for something a little bit more
aggressive in the trade. Now, just because it took
it eight days to get up here doesn’t mean that it would take
eight days to hit this target. What did we say that was about? Not quite $54. $53.61. It might take longer. And so keep that
in mind as you’re trying to decide what
time frame to use. Now, if somebody wanted
to be pretty aggressive, they could say,
oh, well, I think it’s going to get
there by August 16th. If we click on that, we’d
see oodles of open interest on the call side, over
here on the put side. Lots of activity in trading. But that really doesn’t give
you much of a buffer at all, does it? In fact, that might be
enough to make the move, but it doesn’t give
you much buffer. Now let’s suppose we came
into the September sixes. That gives us seven
or eight days plus 30, so it gives us a
little bit of buffer. But as we look at
the open interest, the liquidity is
really small, isn’t it? There is not a lot
of open interest, so there’s not a lot of
trading activity of contracts. And so somebody may
say, forget that. Let’s just go down to
the September monthlies and not worry about
trying to get less time. Because open
interest, you’re going to find, is a lot more important
than how much the option is going to cost. How much time am I buying? How much time you’re
buying is important. But trying to– I’m going to say low
ball that, trying to get a really small amount
so your option doesn’t cost as much is probably not
the best way to approach it. But you could come
over here, and you could say, yeah, 52 probably
gives you enough days. It gives you some
cushion as well as if the stock doesn’t
move as quickly as you thought it would. And then we could
come down here. We could say, OK, we’ve got
really tight ranges, 273 by 276 here on the 48. That’s our out of the money one. Our first in the money one is
going to be– oh, technically, it would be $48. Stock is at $47.65,
so at the money would be our $48 strike price. We’re going to go ahead,
for purposes of our class, and supposing that we do
have an entry signal– Pavlov’s dog has
already been excited, and now the food is coming. It is time to pull the trigger. All right. Let’s do this. Let me change this. Let’s do buy custom
with OCO bracket. All right? We’re going to get in whatever
the price of the option is. Let’s go ahead– let’s suppose
you’re willing to lose– well, let’s see
what it would be. Let’s get this back in
proportion a little bit. Typically, we would
want our stop loss to go below the low day. Now, could it be
$0.10 or $0.25 or 1%? It can be whatever you want. OK? For our purposes today, we’re
just going to say $0.25. We’re going to say $0.25. So the low is $45.85. And so a little bit below
that, $0.25 below that, is going to be– I think I moved my
mouse accidentally. Let’s go back. If we go a quarter below that,
that’s going to be $45.60. $45.60 is where the price
would be for the stock. And then our target, it
doesn’t quite hit $53. So maybe we could– well, it does $53 and change. So maybe we could back
that off a little bit and put $53 as our target. So let’s go put all of that in. Now, you can put stops
and targets in here based on the price of the stock
or the price of the option. This one, we’re
going to do it based on the price of the stock. So those of you that
are looking for some of these conditional
entries, this is how you’re going
to go about doing it. Now let’s go ahead and pull
in a number out of the air. We’re going to do
four contracts. And I’m going to link this so
that links all four contracts together. When you click on OCO Order so
you have a first triggers OCO, the intent is that your
target is the first pink line. Your stop price takes place
on the second two lines. OK? We’re going to change
this to a market. We’re going to change
this to a market, even though it’s going
to act as a stop. We’re going to come over
here and make this good till canceled on both of them. Have to have both
of them in place. And I’m going to
click on the gear to go into our order conditions. And here, the first
part just brings over what was on the
previous page here. We’re going to say
when Micron gets– we’re just going to leave
the mark price greater than or equal to– this is our target. We’re going to go $53. And let’s look and make
sure that this is right down here in number three. Mark price of the security
is less than or equal to– OK. I should’ve gone
the other direction. There. OK. Is greater than or equal to 53. Then execute the trade. It’s going to spit out as what? A market order. Market order gets in line,
says fill me at the next price. It might not be exactly $53. But if the market’s
engaged, generally it’s going to be somewhere
around that area. Just know it’s not guaranteed. OK? Let’s do our stop loss. I’m going to come over here. We’re going to click
on the gear again. And it’s going to bring
up our contracts here, and this is going to
act as a stop loss. But it’s going to be paid based
on the price of the stock, and that’s why it’s called
a conditional order. So at Micron, again, we’re
going to use the mark. We’re going to say keep it at
less than or equal to $45.60. OK? That’s $0.25 below
yesterday’s low, meaning super, super
tight stop order. I’m going to hit Save
here, and I’m just going to go back and look at
it since it wouldn’t show me very well. It looks like it did
not keep that, so let me try this one more time. $45.60. And there we go. I had to Tab out of the
field so that would show up. OK. That’s better. When you think
you’ve got it, when you feel comfortable
with it, come over here to Confirm and Send. Just look through
the dialog box. Make sure it has what you
thought it would have in there. You’re trying to
do– notice there’s going to be some transaction
fees in here as well. This first order,
the buy order, has to go through in order for
either of our sell orders to be on the docket, in
order for them to even work. If this order does not
get filled today as far as the option goes, then
it’ll cancel out all three of those orders. So this one definitely has to be
triggered first for the others to go. And if it doesn’t, you probably
want to go back and take a look and see why. OK? So it filled our
contracts there. Now, again, if
you have questions as we’re going through,
go ahead and ask them. Let’s look at one more. This one is a fairly
expensive stock. ISRG trading at
$534 today, so it’s kind of an expensive
stock, but it has gone through its earnings. I will tell you the options
aren’t super liquid, so we are going to be working
with the stock in this case. OK? We’re seeing higher peaks,
higher troughs, higher peaks, higher troughs. 30-day moving
average is headed up. It most recently had
a peak right there. And then what has
it had since then? A day pulling back,
a day pulling back, a day pulling back. All right? Yesterday, looks like its
shadow went down the lowest of these pullback days. Its high that day– $530.59. So today we want the
price of the stock to close higher than $530.59. Right now we can
eyeball that and see if the market were
to close right now, it would have that signal. All right? So let’s go ahead, and
let’s do an entry here. Now, since it’s such
an expensive stock, we probably don’t want more
than a full position on it. Remember, I told
you about 15,000 is a full position for
this particular account and how we’re trading it. Let’s say 15,000 divided
by 534.39 equals– so the most we’re
going to be able to get is going to be 28
shares if we’re going to assume a full position. But let’s go through the OC
on it as well, because where should the stop go? The stop should go lower
than yesterday’s low. The low yesterday was $523. That’s a nice, easy number. And let’s go $522.50. So that’s going
to be about $0.50. And again, your number can be
whatever you think makes sense or you develop a pattern for. Since this stock is a
little bit more expensive, that’s why I said let’s go
$0.50 lower versus $0.25. And then the first target
is going to be what? The first target is right
here at the high of $543.81. Now, you might look
at that and say, well, that doesn’t look
like that much. But that is 21 points on that– if it were to go
from there to there. So let’s put that in
as our initial target, and then let’s put
in our stop loss. So we’re going to go to
the Trade tab, right mouse click on the ask
price up in the stock by custom with OCO bracket. So we already know the stop
loss is in the neighborhood of $522.50, the price
we’re going to use today. And let’s make
both of these stops good till canceled,
which really, good till canceled
means six months. But hopefully by then,
you will have replaced it. Let’s change our
number of shares here to say– because we
don’t want to exceed 28, so we’re going to
pop in 28 there. And so our first initial
target is going to be $522.50. Now, the stop loss– actually, we’re going
to change that to– both of these to market orders. Because when they hit that
price, if and when they do, it will go and trigger what? It’s going to trigger
a market order. All right. So our target– let’s see. It didn’t like something there. Market order– yeah, it’s
saying that we must have a day– or a good till cancel in
there, but we’re good. So the cell of
this particular one is when it reaches its target. And we’re going to
say ISRG is greater than or equal to $543.81. Yeah. This is kind of being a
little sticky on me here. Yeah. Change that back. Let’s try this one more time. 543– well, that’s actually
an 81, so we’ll fix that. Now, I’m not sure why it’s
having a hard time on us. Maybe that’s such a huge number,
it just can’t imagine it. 543.81– OK. This time it took it. The key was hitting the
Tab before the Enter. All right. So we’re looking for the
price of the security is greater than or
equal to $543.81, which was that previous high point. And then our stop loss order–
we’re going to configure it as well– when the price of
the stock gets less– yeah, less than or
equal to $522.50. Again, make sure it kind of
looks like what you want. Do the Confirm and Send box
and just follow it through. Make sure it represents
what you want. You’re going to notice the
transactions fees right there. And we’re going to go
ahead and send it in. One thing I should do is put
the actual trade in our account so it’s easier for me to track. And if you’re
following [INAUDIBLE],, we’ll follow up on this as well. All right. So we– just to
summarize here, we’ve seen examples of
setups and examples of entry conditions being met. OK? So let’s do that. So I’m going to push out
a little survey to you out in the chat section. And I’d like you
to just click on it while it’s still active and just
quickly type in the five radio buttons that correspond to what
your thoughts are regarding our session today. So I just want to summarize. We looked at ISRG as an entry
because it was giving us the close above the
high of the low day. We looked at– for it,
we looked at Micron, put in a trade on Micron
because of the same thing. It ran up. Its has its two of
five-day pullback. It looks like it’s
going to close higher than the high of this
low day, that CAHOLD. Some of you might familiar
with that acronym. We also reviewed
the setup, which is what the stock needs to look
like before it really tells you it’s time to go. This is when Pavlov and his
dog– or his dog, rather, not Pavlov– but
Pavlov’s dog start salivating because it’s looking
like, hey, we’re almost there. The bell dinged, and it
should be a pretty short time before my food is brought. And in this case,
pretty short time, hopefully, before it meets
that entry condition. All right? Now, where can you
see additional classes similar to what we’ve
been doing here today? Well, I’ll tell you– every
day of the week at this time, we have a Technically
Speaking class. Things that might be relevant
to what we’ve discussed today might be on Mondays, one that’s
called Bounces and Reversals. On Wednesday, Technical Analysis
and Options with James Boyd, and then on Friday, an Advanced
Charting Techniques class. All of those elements
have something to do with our
technical analysis and what we want to
do to improve it. All right? So that’s spinning on us,
so we’re going to move on. But that’s where you could
go pull those webcasts up. All right. So today we talked about
what swing trading is, what trading is, and a setup. We looked at some
short-term opportunities and identified some targets
on some bullish trades only. We talked about potential
entry signals, price targets, and initial stop losses, and
put those in place on the trades we did. And we were able to use
thinkorswim to do that. Very good. Well, coming up next is going to
be Cameron May with a trading– what is it called? Trader Talk. That’s what it is– Trader Talk question
and answers. He is going to start that
at the top of the hour. He would love to see you there. If you have questions
that you’re not getting answered in
any other sessions, that is a great place to go
and get your question answered. Get there early and type it in,
because he goes in the order that they’re submitted. All right? Hey, I appreciate you joining
me this week for Technically Speaking Swing Trading. And next week, we’re going to
do some additional work on swing trading as well as follow up
on a couple of these trades and setups. OK? Have a good week. We’ll see you soon. Bye bye.

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