 Hello traders, good morning. Good morning. I hope you're all well today and doing good. Welcome to the live advanced book about webinar Today, we're joined by Joseph a professional stocks trader This live session is part of our education here at book map. These are webinars with Jay trader They're held every Wednesday around 10 a.m. Eastern time As your your usual host Bruce is still away. I'll be covering today I'll also be helping out tomorrow with with Scott as well Before we jump into the live analysis with Jay trader just a couple of things to cover First of all Jay traders contact information You can find out more about him on his website Jay trader co You can also connect with him on Twitter at Jay trader co and The disclosures here general disclosure All book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor Recommendations live trading is in simulation demo paper trading mode and is strictly for educational purposes live trading executed in simulation cannot accurately represent realistic trading performance and the risk disclosure Trading futures equities and digital currencies involve substantial risk of loss and is not suitable for all investors and Investor could potentially lose all or more than the initial investment Risk capital is money that can be lost without jeopardizing one's financial security in a lifestyle only risk capital should be used for trading and only those with Sufficient risk capital should consider trading Past performance is not necessarily indicative of future results Okay, Joseph, I'll bring your screen up now. Yeah, you're good to go, sir All right. Thank you, Sam. So good morning, everybody. This is Jay trader so Kind of great market to trade Both small caps and big caps Today we had BWV which is a stock Over here on the right. I have the stats. We're gonna bring up the stats one second. It's a stock that was gaping up Was the biggest gapper of today blue water vaccines, Inc. We Have a very small float 3.80 million float. So this is the amount of the shares you can buy in the stock market Very small float high volume what can do possibly push and squeeze Low institutional ownership. So this tells us right away that Firms institutions are not really interested in holding the stock along third We have no news so over here we had Why this was up sympathy, okay? So basically all the healthcare were pushing. So we had over here LF Ly AL VR Tiva we have also NTRB. So sympathy play Going back over here to the financials. I checked this to see if the company is healthy or not So you want to always Have a look Into this before going So I start looking the scanners the news event which we have done right now The history of the chart. So we're gonna look at the chart We also look at the order flow to see the main levels of resistance support Supply and demand we're gonna look at the key stats Of course is what I already mentioned We're gonna look at the key stats, of course is what I already did. So looking at the float Seeing that they have a small float and a small institutional ownership Now we're looking financials Then we're gonna look at gap stats. So how many times for example faded on gap days? Dilution so have they if they are basically a shell company or not What is a shell company is a company that sells paper? Okay? Well, it's just like you know a way the traders use this This I would say this is this is this name and Analysis over here. We'll prepare the plan and see what we did this morning So let me tell you that this morning. We had first a stop on BWV and then we had a Good setup the stop was for about seven cents. The wind for was for about 40 cents Key stats as we said we have a Company that has 18 million float They have a still positive networking capital. So 19 and 2 million. So total caresses and liabilities They have zero revenues. So basically they don't have any kind of earnings, right? So no actually be more precise no revenues no profits and They have a negative net income So how they can survive right History over here. We check if they have previous gappers and Over here. We had only one gapper. They closed below the open was a 931 fail, I also check traders with dilution tracker If they have offerings, so this is all my pre-market routine And we can see they have 85 months of cash But remember 8 million 18 million cash, all right only because they're losing 200k per month That's the reason why they have 85 months of cash They have warrants pipe warrants at 6.65 of One point almost 1.2 million Now going to our stock. We're gonna put this over here So in case we have new gappers coming up during the day So this morning, we had a big runner pre-market. This came from went from two bucks until 3.80 If you look over here the order of flow We saw few levels Where we had decent amount of buyers stacked so wall of buyers over here Then you can see they're moving up Wall of buyers over here wall of buyers over here And then I was looking at the price section just before the open so I'm gonna Put that back up Okay over here, you can see really the I'll go Holding all right. So why I think it's an I'll go be here Well very fast Prince cancel Cans prints prints cancel prints. So it's moving super fast over here. Generally. This is an algorithm. All right, so just like a Both over here that the market makers used to play at the gate we start having a push and Just to show you the last few days if you go to check BWV and compare it to for example s IDU FRGT DKLF These are three of the gappers that played very similar to BWV they extended out a certain percentage of extension Generally between 10 and 20 percent from the gate Giving this pattern and then they tend to top this for example over here was the level that I had this morning was a 15% level from the open. Okay, so this morning we Attacked over here short Even with with a start and then with size at Exactly this level over here So you can see that the price came to this 390 rejected This 382 385 is the level where are we short? So this is a What we call a fake out of the move. So we had a fast rejection Reason to short even full-size and then we are looking for an unwind until 350 345 never came and In a moment that we entered over here The first thing you have to do is one look at the price action put immediately Level of stop that could be stop hard stop loss or even a mental stop loss and then also a Level of take profit based on your strategy. So something that you need to track. Okay, it's not just like you put only Okay, because that is a support. So I'm skilling out over there We stopped over here 392 this was a stop alert explained So exactly when we took the trade over here members knew exactly what we're going to do We stopped over here. So between six and eight cents and Then we had this push into this level of resistance. So you can see how book map over here helps We saw a almost 40,000 right here main seller We can see that we Spike above right away slam below that four dollar. All right, so I'm gonna zoom in over here So we push above Right away below that four and we start forming again resistance. You see over here this four Which is this level over here and then we are forming the solution pattern. This is a Inside bar that I liked this was also the 15% level We start attacking short over here in the 390s and then main failure to the first target over here 350s So this is one of the patterns that as I said, we are trading the most lately and it's really paying big 350 over here we had Let me put it. Okay, three fifth over here. We have some support 358 and then 350 reason to cover it here between 25 and 30% and now we're holding for the main target which will be down Into the 260 270 area. All right, so support over here 319 let's see if we're gonna break this so also follow the order flow You see above we have a huge amount of resistance no main support right now Again, no news We have some bag holes in the stock Mostly we are simply having now all the longs Trapped on this pump this morning above 380 So basically what it's going to do it's gonna happily unwind Main sellers over here 340 these are the favorite patterns One of the one of the most favorite patterns that we have in the in the small cap land We're finding some support this 319, but you can see over here on book map We don't have like real buyers. We're gonna follow price section on this as We are still holding this position. We also Are looking at Tiva. So we're gonna cover after Tiva. We had earnings. We had shop We had Geo VX SIG a Microsoft BA So a lot of earnings plays and also day 2 day 3 of extended plays Zoom in and over here. So that's the moment of the crack breakdown Breakdown over here if you are in a position traders Just just hold the position if you have still that The price action work in your favor If you don't see buyers, this is an easy fader for now This 326 that you see on the chart traders is a level of resistance from previous Months is a level where we traded the day 35 million volume so you can see that we have right now. We are below that level So we should find some sellers over here jumping in trying to find some support 320 326 327 actually in the meantime What we can do we can look at Tiva So I'm watching this $9 level Where we have a pre-market resistance So let's see if we can short into this area here. So let's act Tiva at 9. That would be interesting We had a shop this morning Remember shop had a pretty big push. I'm gonna put this back up. We had some news on shop But we had earnings But also it will reduce its employees by 10% okay, so we had Two news over here in shop today. You can see also the daily chart traders Simply only dumping over here and winding on winding on winding. This was shop today So we're gonna Look at the higher time frame. We have a level of resistance over here at 34 and more at this peak over here 3460 and Then this 3550 Main seller jumped in when the price was already down here at 34 So We were over here. We had a main seller with 100k at 3460 over here Exactly into that resistance we had GOVX and We are still in this trade we took this trade exactly over here into the 202 This is on an extended play is a three-day runner. We're gonna put a 50-minute chart sorry GOVX So day one over here day two day three this morning. We had the trendline break We went to reject this trendline break We went also to reject This level of resistance over here between 208 and 209 This server here resistance this yellow line you can see and Then at a certain point while the price was going up over here around 10 o'clock into the 205 Main seller came 206. This remember is not SSR and Then started to fail. So this point over here was not a star You can look to short put a stop just at that big seller to 05 and Then you can simply hold the trade over here Last we took was SIGA So we shared this in the room We showed exactly this level of resistance 1750 Was a previous yesterday resistance. So you can see over here where we had some resistance supply Came up almost parabolic over here to the 1750 1760 You can see exhaustion over here and then seller jumped in These dots over here You see the volume dots are gray This is basically sellers, okay, these are sellers jumping in over here so This level push Right away came down Okay, so analyze over here the price section when you started to see the peak of a move And you start to see this gray over here dots means we have sellers. Yeah, let's go back to BWV So I've short no reason to cover. Yes, we bounce on the support We are below this main resistance. So when I'm in a trade I'll put the resistance over here Resist over here. So those are the levels where I see Topping of the action, right? So what we can have is this and if you have a high average Just simply hold over here We're gonna put some trail over here for 50% of the position left at 357 360 and Hold the trade for our main target Earning down. So right now what I'm going to do. I'm I'm gonna put Level of resistance over here. This is a lower high Okay, we're gonna keep traders Also Tiva over here on watch We're gonna look for this level of nine dollars. So if the price will push to nine dollars too short But people over here bouncy from the support this a 69 Is the main level of support that we have an intro day? I'm going to put over here an hourly chart show you the levels Actually, we can put even a daily right here. So what I'm doing. I'm looking point of reversal On my chart and often I will put these when we have peaks Okay, so you can see we went to that resistance Rejected we have resistance over here on book map at nine and the premarket high at nine ten So I'm looking over here for that main level At nine ten traders nine nine ten Let's see if we can have a rejection and a short from there This is the area that I'm waiting. Okay, so I'm waiting for this main area over here for a rejection Dov x we're continuing to hold the trade from two to zero two now the stop break even So we had that and through this area And we can use this heat map over here as a main trail maintenance that is a swing position from yesterday yesterday we got short Into the one sixty six Cover into the one fifty nine Relonged over here after the fake washout fake washout over here for a bounce looking for a bounce to the market and We're still holding the position over here now going to the one sixty six target will be one sixty seven So for now just holding the position over here Stock is making higher lows So no reason to cut a position. Let's go back to our small cap BWB, which for now just a fader look over here the price section. We rejected 334 335 Break of the previous low looking for the 317 and lower. We have a runner over here looking the scanner AL VR Which has a 296 million market cap 29 million float institutional ownership 42% Pretty high cash burning per month team and looking down here So they have cash for about 12 months It's like our daily This is a stock we traded a few weeks ago. This was the highest volume day 633 So what I'm going to do I'm gonna check Me today charge to see the main levels resistance Our charge would be the best. We can define 680 as a main resistance. So what I'm doing right now traders is we're looking too long on dips But the trend over here seems already started it already extended from 4.80 to $6 or looking a level where I can see a rejection and taking a short You can see that the past day past gap over here We had an extension and then faded on the same day So those are the level of resistance that I will put 680 750 and 850 over here We're still far from that Resistance that I want is 680 Also, no long yet We need to see a dip into the J-Lines or the V-Wap and curl you can put up in the meantime book map over here This we didn't need anymore. Our main supply over here into the 650 Low liquidity stock very low liquidity stock over here. You see also book map We have no main buyers or sellers only Some small wall of sellers into the 650. So that's the main catalyst for me on the chart We have Piva with our earnings. Remember, we're waiting for that nine Chop over here holding the support 3260 sideways for now Microsoft support to 62 in 50 So we had really bad news this morning So the stock going all the way down From 22 bucks down to 11. So losing 50% now Bouncing back up slowly the main level of resistance traders over here is 17 20 17 10 on Saba let's see if they're gonna have a fake out of 17 and then fail So I'm looking at these levels over here in the pre-market if you can have this pattern over here Go look at Saba over here. The reason why it was down this morning. I put over here buck falls 30 percent actually fell more For a maximum of 50% or report of criminal probe The Department of Justice has launched a criminal probe of the company very controversial drug They have a float of 37 million SSR institutional 27% Not looking good over here traders not looking good. I would like to see over here fake out the 17 or rejection 17 10 and then unwind Meanwhile BWB So you can see over here the Main level of resistance, right for dollars We have a fake out Exhaustion main seller jumping in So pretty gonna why we had seven eight cents stop in the early morning push and Then back side over here with the play and now it's going to the 350 Saba over here is rejecting that 1698 so this 1692 95 if we have a retest is Our level to short with very tight risk Okay Why pre-market resistance? Bad news today. We have a main pullback That's our 17 resistance We're looking in a feeling to the 95 96 With a very tight risk still not short When I see a push over here fast rejection that will give us a conviction for a short, okay? So we want this double top to reject for now we have one high We want the second high and reject. So this would be the second high over here. We want to see this shorting to the 95 96 96 push we can also put over here the Times and sales That's way that the rejection traders The reason why I want to see that rejection is that often in patterns like this We We see the price simply going and not rejecting if we have a rejection from 17 or 16 1698 We have the confirmation That is not going to push For now, this is still not a short as I said you want to see first a rejection then shorting that gives us a Low risk entry, but that's the level we're looking at 17 or This pre-market I 1724 And we went into this top over here. You can see this 98. So looking over here in 96 97 That's a correct level to short A risk in it simply that's 17 over here. You can see the rejection So 96 97 all the server here to short Risking the 17 Looking for the first target 1680s 1670s and the support over here if you break So if you get to the 17 and starts like chipping out if we have a stuff reenter short That's how I like to play. So like for example today on BWV same price action You're looking to short as near as possible to that resistance once the resistance gives you a confirmation, okay? Let's see the price action over here together. You can see they're trying to push it If they start chipping 17 you have to be super quick to get out Because the wise can push even 10 15 cents But here's rejecting You see, you know sellers jumping in for now a seller over here very small 97 see a few hundreds Now if we got in 96 97 as we said what we can do we can put a stop 99 so before we go with the 17 risking two or three cents the most Yeah, that's the reason why on SSR McLovin is asking on SSR. You have to put yourself Exactly on the ask. We had a fast wash over here Bought back up There's some spread over here and that's it. You see reason why We said to cut if we had the 99. This is the previous resistance So you can see an SSR traders Once you have that resistance over here. They can remove in about seconds and then push it So you can go back and understand that commentary to short 96 97 And then I said once it goes back to 99 use that risk 99 before you have the 17 So that you protect yourself Now, let's see if this will be a mega stuff Comes back down in short or simply hold the 17 and then push back up But correct setup to trade Into a pre-market resistance on something that faded this morning 50% on very bad news Meanwhile Sega Gave a great short So pattern over here Always this pre-market resistance from the previous day. So high supply area. You can see this Resistance over here nice pattern for a short at 1760 They just take that McLovin. That's our your sava. So I was still pushing so Good risk management no trade over here. Let it go BWV is the stock that we're still holding and also GOV X straight Stair step down pattern so you can see only ports some over here. I believe covers our Target to 60 to 70 I was still pushing LVR nothing yet Sega nice rejection You can see over here this breakout 67 push in the 74 and fail BW VR fader you break down coming over here on BWV. So now we can move our Trailing that was over here 365 Down to 335 Down to 325 so half of the trailing now 335 325 sorry just a question on that Joseph Mm-hmm So you're kind of adjusting your your trailing stop there Would you kind of lean on book map and the liquidity areas as well to position your stop or do you kind of mainly focus on the structure there? I mean there is liquidity there to about 324 Yeah, good question. So basically I'm looking for targets based on the system and I see often when we're fading the liquidity will be like a magnet area so that the price Goes back to those levels. For example, let's say we form over here high liquidity Often will be a magnet area for the price to pull back into those levels so I use both combination of Pre-resolutive highs generally giving like few cents like five six cents above plus the I hear of supply that we'll see on on the order flow vice versa Like this morning over here We were pushing and you can see where we topped basically. Yes. This is the whole round. Sorry Hold on a number four dollars, but also the main liquidity area. It worked like a magnet All right, so we went exactly into this area and then rejecting like an over on their play over here and We've seen this over and over and over in this market For example Sega just look over here Sam this morning the price Came to a level where where we had liquidity It works like a magnet. So those levels over there like for example, we were looking on Saba, but it didn't work We're looking for shorts or by subversive for walks Almost with a 50% fib level over here so we should have like some Some bounce from this BWV $3 and why is that only to cover 50% of the position left at 325 because we still want to give wiggle room to work Often these will bounce will pull back and then unwind more Until we see this price action this volume This stair step step step step step down pattern. Sorry We're gonna look for a fader Okay, 50% fib level over here 304 only sellers right now Only main sellers over here. Look this these dots over here traders. These are all Sellers over here If you put like the sweep indicator, I believe over here, you'll see some sweep. So stop hoarders So orders over here triggered Again over here again over here and then when you see these messes a lot very fast very fast and When happens this every single breakdown that we may have so that's pretty That's pretty good conviction to your trade short and We always have in order to have better a risk-reward ratio to hold as much as possible of our trade for the main targets and We see often Traders that or start shorting shorting shorting shorting adding adding adding But also skilling out skilling out skilling out skilling out. So by the time for example, like yesterday on meta Where we short in the 166 165 and it went to 158 By the time it goes 158 if you start skilling out you will have 5% So your risk-reward ratio will be so much lower Versus if you can hold an entire core or the majority of your car position or a main fader Most important in this market is knowing very good the level where to stop This is now triggered for 50% of what's left and then you can use the remaining 50% for the previous high We have sellers jumping in you can see over here Just Moving down Go back to Sava over here to see what happened or came to 18 So 61% fib level. Well, we are nothing yet See guy for the stuff is still unwinding Tiva we are still waiting for that nine That's a small bounce over here from that 50% fib level at three zero four Again patience on this trade over here trade as you can see Siga Jovi acts which came in that 210 area See go over here to the 1750 and then over here. We're looking for The gap an extension with the gap an extension play on BWV Now a little bit more bounce over here from the 50% fib So we moved the trail from 335 down to 325 For 50% and then the rest 50% we're going to hold until 336 335 area over here So last few minutes over here for Broadcasting Sam do we have any questions or anything else you would like to ask? Yeah, just really good stuff today. I think Joseph some some really nice setups a great trade on BWV I think there's some important lessons there, you know tying in the order flow to add confidence in the move you know absorb observing the liquidity being added to the offer and Gov ex to the you know, you had your higher time frame trend break You were looking for the short and the order flow, you know provided some precision and confluence to the trade Exactly. Yeah, exactly you first higher time frame lower checking the order flow for the timing pattern and then just like Managing the trade until the targets Yep, absolutely You also gave a really in-depth explanation of the kind of the double top play on on server Which I thought was fascinating, you know being being patient waiting for the second high to reject Not just jumping in there and then only then, you know, you then you become interested. It's some Approach mostly over here for the risk management being also this SSR So knowing what this is our can do so deciding to put your stop in 99 and Then you can see we saw over here once they start first to absorb the 69 1699 and then they broke the 17 over here instantly push for a 20 cents and then after that Big buyers came an extension till 18 almost Yeah Really good. All right. Thank you Okay, so I think we are done traders for this week See you again next Wednesday. Thank you Sam for being an amazing host If you need help traders reach out. Thank you Sam for today. Thank you book map. Thank you traders Put thumbs up traders. All this is free for you every single Wednesday and See you again next week. Thank you very much Thank you Joseph, and thanks for watching guys We'll see you again tomorrow same time Bye-bye. Bye-bye