 Welcome everyone to another edition of a trade recap that we did today and this is MU. Now I'm opening the the recap here with spy and the reason for this is you have to look at the market when it opens. Now we played MU very quickly after the bell. You have to look at the rest of the market. I will get to the MU chart however this is the chart as it was pre-market. Basically this is the end of the day that we have on yesterday and then slowly getting down to to get ready at 9 30. Now you see that there's a common number here at the top. See this 448 36. This creates the obvious resistance. So this is telling you that at the end of the day on Wednesday it didn't want to cross it and again as we were to get to the open this morning it went very close to it and as soon as the bell rang we started going down. So how far down we have to look at the previous day and basically the 444 line somewhere in this vicinity here. See this is previous day low. Pretty much this is where we went. See this week I believe we're very close to this week. 444 was tested again. It held and I believe we had this bottom the day before as well maybe a little lower. So basically we have a low that was tested and if you look at the end today I mean this is a side note but for all of you new members you will see a lot of this when you get to trade something. The line that you see the yellow line there's a bump to support. Your target should be first resistance which is right this here. Now there are a lot of videos posted about this in here so the idea is not this. We're going back to the MU. However I just want to point out something. This 448 36. Do you think I'm pulling this out of a hat? Maybe not. You can zoom out and see why this number is old resistance. See from Tuesday and even from Monday. Now go back zoom out to the one hour chart. See oh it used to be support. See here used to be support and now it became resistance all the way again today. We can go back even further and you'll see that it was some sort of an area here where we were right in the middle of it. So now 448 36 is a line in the sand that when we cross it with volume means that we will probably go higher. Otherwise it will just be resistance again. We'll knock our head on it and we might turn back down. So back to the idea here. This is the opening of the day. I'll switch to the five minute closer to what we're looking at. This is the open 930. As soon as we started the day it started going down. Okay let's switch to the MU chart. Now this is the MU chart. Opening of the day we see that there is a, I'll show you right here, late in the day it was climbing just like spy. Side note here I took spy for an indicator for the general market. I know MU is not in, you know, we could go with tech like QQQ instead but I like to take spy as a general idea for all the tickers I'm looking at. I don't only look at tech so to me a general idea spy is easier to the monitor but you know if you play tech it could have been QQQ's. Similar chart as spy I started tanking right after the end of the day. I believe it went a little higher than the pre-market high at the end of the day but you know just keep in mind that I prefer to keep an eye on the spy. Sometimes I have QQQ's on the side but spy is my main go-to as an indicator. Now like I said we were high here. Towards the end of the day we rejected the high pretty much just like spy did. Keep in mind that MU trades a lot like spy some people call it the cheap spy. I tend to think that usually spy and MU like to trade in the same direction and when they don't that's when I get interested and this is what I'll show you here. This is the high in after hours rejected this high and this is the activity pre-market. A lot of people don't look at activity pre-market. I tend to look at it just a little bit just to give us an idea. I mean if we if we had been this high which means higher than the previous day we would have been very very bullish. However we weren't but we are higher than you know all these guys here that started buying were higher than these guys right. We're not under where they stopped selling. We're not under there yet right. So this is the open. Right at the open look at what happened. We went to WIC. Where to? I'll show you where to. We went to WIC right at the gate and then the next candle were up and then it starts going up up all this here. Does this look bearish to you? Does this look bullish? Hard to say why because to me I still look at this. To me this is the hard part to cross because this is where on the previous day people didn't want to go any further. In after hours they didn't want to go any higher. So here is probably your line that you're having the hardest time to cross and this is probably why it went a bit higher, bounced on it and then it started going up and kept on going but that's not the idea. Here it bounced somewhere and I'll show you where and then it started going up. What was the market doing? Market was going like that. Market is going down and we bounced right on the line on a support line and watch this. The support line that you have at the bottom is this line. Now same thing as I did with Spy. Am I taking this line out of a hat? No. This is a price level and very important price level. Look at the previous day. See this is the wick. You can't really rely on these down wicks but this is the previous day. See where it bounced right here and so basically what we did whatever we had all day yesterday here, people had a stop there. If you were trading during that day and you buy here for this day where would you put your stop? You would put your stop on this line. Anything lower it would start selling. So the same thing here happened. It's not going down any further because we're not dropping. We're not seeing anything. Even if you buy here your stop will be just on that low of that day. So basically what it's telling you it's not going down further. So this is the line that you could use for a stop. If you enter MU saying hmm okay it looks bullish, market is tanking and it's going up. So something's cooking right? I'll keep going here. Let's zoom out even more. This is the one hour chart. See it was resistance. Here was flat having a hard time across it. Then it came support right? Had a hard time across it. Then this is pretty much there. This is pretty much there. It was really close to it and then bang on. Now you see this line? This is what I was looking at. Basically we came down here. It never went down further than that line. Obviously all this area underneath here becomes for the bears right? This is where the bears will start to be happy because we're breaking under a support line. We didn't break under that line and the market was tanking. So what it's telling you is as soon as the market starts to go that way, well basically like I said in chat, this is downwind sailing. It's easy, fast and everyone's happy. So downwind sailing doesn't mean that the ticket is going down though. So let's go back to this five minute chart. So basically I alerted. As soon as I noticed that we were not moving with the rest of the market here, we were crossing over. Market was tanking. We were going up. This is the queue right? And obviously when you enter a trade you need to find the proper exit. So you have to look at where we can stop. Basically you have to look at the other lines. Right? This was a line. See? All these are two lines that are together. We went above that here. But my idea was to go a little further back a little further back and all these areas. And I'll change this here. So you put this here. See how it's magically a support line? This guy here becomes this guy here. And then this double top here becomes this high there. And then here becomes this high. All this you have to see it. However, you have to be ready to take some profit on your way up, which is what we did in on this play. We played the 74 strike because my target was in the 74 area and higher. We were in the 73-5 zone. So as soon as we start hitting anything higher than 74, I mean Delta is going to go with us and profit is going to be very good as well. So we hit a more than 100% on this play exiting. I believe we had three exits called on it, but on the way up. So basically things to remember. You look at the market, what the market is doing, and this is going completely opposite of the market. It's bouncing on support hard while the market is tanking back to support. So as soon as it starts turning over, your play is going to be even stronger. So again, it's support and resistance. And we have shown you a lot of this in previous videos. And I really hope that this one is helping you to understand how to get in reaching targets and using the market as a barometer of where you should go. So thanks for watching and I'll see you again.