(URGENT) Fed Speech TOMORROW...

TL;DR

Nasdaq is relatively unchanged, with the speaker sharing their live trading session results and discussing their trading strategies.

Transcript

Edwards Canon team it's Ricky attack but Solutions here is a super quick stock market update want to make sure that you guys are aware of what it is that's going on right now pretty much a break even day for Nasdaq I mean NASDAQ is down 0.37 one of the trades that was caught within my live trading session today just so you can see I'm up six thousa... Read More

Key Insights

• 💄 The speaker emphasizes the importance of understanding support and resistance levels when making trading decisions.
• 😯 They mention the potential impact of Jerome Powell's speech on the market and offer to host a live stream if there is enough interest.
• ⌛ The speaker highlights the benefits of analyzing different time frames to gain a broader understanding of the market.
• 🧘 They discuss their position sizing strategy to manage risk.
• 🥶 The speaker recommends using the Weeble trading application and offers a referral link for free shares.
• ⚾ They mention upcoming earnings reports but do not consider them significant based on their radar.
• 📢 The speaker announces an Apple Watch giveaway winner on their Instagram live.

Questions & Answers

Q: How did the speaker make profits during their live trading session?

The speaker made profits by taking advantage of recovery potential and a support pattern identified in the stock they traded (tqs) despite it being in the red initially.

Q: Why did the speaker reduce their position size?

The speaker reduced their position size to manage risk in case the stock pulled back, while still leaving open the possibility of further gains if the stock continued to make new highs.

Q: How does the speaker analyze market direction?

The speaker looks at different time frames (5-minute, 30-minute, and 1-hour) to understand intraday movement, overall bullish or bearish market sentiment, and potential support and resistance levels.

Q: What are the upcoming economic events to watch out for?

The only significant event mentioned is Jerome Powell's speech, which could impact the stock market as he is the head of the Federal Reserve. The speaker offers to host a live stream if enough people show interest.

Summary & Key Takeaways

• The Nasdaq is down slightly, while the speaker has made almost $7,000 in profits during their live trading session.

• They explain their position sizing strategy, reducing their shares to manage risk based on resistance levels.

• The speaker emphasizes the importance of understanding overall market direction and using different time frames for analysis.