원문 보기
Happy Monday. What's going on, guys? It's August 25th. It's 9:29 in the morning here in Arizona and wanted to quickly recap um or just talk about where we are for the day. So, NASDAQ market looks like it's going back to retest the same highs that we had on Friday. We'll see if it ends up actually making new highs or just like we saw at market open ends up getting rejected and testing support right around 570 to 569.
uh my current position, just so you guys can see that I'm down. I'm down about $1,300 on this trade. This is PLTR. Please do not copy this trade. Again, I challenge you if you want to do the opposite. Be my guest. If you think PLTR is going to the moon, be my guest. You buy 100,000. I've just opened $100,000 short on it.
I like the setup. Um and this is kind of like the idea behind it. PLTR 156 average entry, 156 average exit. Uh that would be right around this general range, which is the support that we tested today. 15850 cut losses, 2.4% uh risk-to-reward ratio with 1,500 shares. Um I'll probably be closer actually to 1750.
Uh which will be around, yeah, 273,000. I could possibly make 10,500. Best case scenario, worst case scenario, I lose 4,300. Again, I like to talk about the good. I like to talk about the bad behind the trades. Um if you guys like when I break it down like this, so it highlights both the good and the bad.
Um, I love I like using the risk-toreward ratio calculator. Uh, and if it makes it easier for you to understand kind of like the vision of what I have behind this trade, uh, then I'd be more than happy to do it. Just let me know down in the comments section. With that being said, there is no confirmation of an overbought reversal just yet.
PLTR is still bullish. Just as quick as it sold off, it ended up recovering and it as of right now because markets are doing such a good job holding at these levels. As long as markets continue to hold, PLTR can still definitely hold above this. There is no breakup pattern. Again, I'm making it very clear.
Do not copy my trade. If you don't see value in the short, do not take it. Right? If you think that markets are going to be bullish and PLTR is going to be bullish, be my guest. Buy it. Buy as much of it of it is that you want. Right? Um that being said, I just wanted to make sure that you understood my current trade uh that I'm choosing to take as of right now.
Uh NASDAQ market um because of it testing that major resistance range. You can see that it's beginning to curl on over, but it's in the very early stages. If this thing does begin to fall apart, then yes, it will give PLTR also the environment and the condition to also continue to retrace as well. Um, if we pay attention to what's to be released this week, Nvidia is the big focus for earning reports this week, and that's Wednesday after the market closes.
I'll be making a video tomorrow on Tuesday after the market closes, talking about a fundamental and technical analysis on the actual stock itself. And then on Friday, we have the PCE report, which is the Federal Reserve's favorite measure of inflation. So something to definitely pay attention to. So this week is not a super crazy week, but it is a pretty consistent week.
There is normally something happening almost every day or every other day. Remember, we are trying to figure out are markets going to go back to making new all-time highs now that the Federal Reserve is has confirmed that they are open to cutting rates. That's what we're waiting to see. or are markets going to begin to retrace because it's a buy the rumors, sell the news type of approach.
So, I not here to pretend like I can predict the future. I can't. That's why again, like I said, I like to show the good and the bad behind all the trades that I take. Um, I just I see a setup right here. I see an overbought reversal for a stock that, you know, saw a lot of selling pressure. Markets are going back to retest same previous highs.
When you look at the five minute time frame, we're testing same previous highs. So I think it's important to understand and respect overbought levels and if we do end up getting rejected then yeah it will be you know a profitable trade when it comes down to palenteer but if it doesn't end up getting rejected and it continues to hold it's going to be a red day for me and that's how I'm going to kick off the week.
But again I think this is a big part of trading is before the trade actually even takes form to be able to talk about it to be able to showcase the idea the plan of action behind it and if it ends up going according to plan great I'm able to make some money. If it ends up going south, then again, no trade or trader is ever going to be perfect.
Our job is to manage risk, not to avoid it. Remember, these are concepts that I talk about in the LPP lesson library. It's designed for complete beginners. And we talked so much about this in today's live trading session. I trade live with my team every single morning. You don't have to join, but if you learn best by watching other people do, I really do believe that you'll learn a lot, not only within our LPP lesson library, but within these daily live sessions.
If you want to learn more about it, we have a big discount going on right now. Second link in the description down below. I appreciate your time. I hope that earned a thumbs up. And please, again, markets are trying to figure out what they're going to be doing. Either go back to making new highs or possibly begin to sell off.
If market direction is unclear to you, a great a good reminder is to stay cash or stay light with whatever trades you end up taking until direction is made more clear. Like always, let's make sure that we end the year on a green note. Take care team.
Comments 0