 Hello Extraders and we are going to do a quick recap of the tickers that we set out to analyze and trade in the month of November. Those were Bank of America, Occidental Petroleum, Pfizer, AT&T, and maybe XLF, but in the end I actually just stuck with Bank of America. So okay, so let's dive in real quick here and switch over to Bank of America. So I actually am a little bit late to this recording, this is today is Tuesday, this should have been done on end of Friday or even Saturday of last week, but I was traveling so I didn't get a chance to look those and record a follow up or trade review so here it is. So as a lot of tickers the general trend has been down, but we were bullish on AT&T and the reason we are trading defensive, we call these defensive stocks on November is because we expect the defensive sector to be the one to bounce first, even though tech high growth stocks will bounce eventually, we expected this sector or this really type of asset which is usually blue chip companies, very solid, slow growth, more oriented towards dividend and organic growth than the other ones. We expected these to be, excuse me again, something that we could play more to the bullish side. So this is basically the chart on the daily for AT&T and we saw that this broke out above this shorter down trend which is kind of an inverse megaphone or like a wedge and it broke out of it quite bullishly and it's starting to take out, remember we talked about swing highs and swing lows, so it was starting to take out a couple, actually this one was unable to take this previous swing high but we did, we finally did here. So the reason why we took it is because it basically broke through this swing high and so if it was going for that second one which it did last week which was like November 3rd, November 4th, then we figured okay then this is pretty bullish because it already took out this swing high and it's going to take out this swing high so we were probably expecting it to take out this one, that one and that one which is why we have them charted, okay so let's zoom in and I actually just went ahead and updated these on my mobile on, was it Sunday night I think? So I've actually, I did two things, okay so if you look back to the video starting November week one you'll see that we took long plays on all of these and that was because in October we were mostly bearish and we were looking at Neo and we were very bearish on EVs and tech and high growth and speculative and China, we said okay now we're gonna go for some longs but if we're gonna go for longs it's gonna be in a more stable type of asset and that's why we chose these defensive stocks so I had only played the upside in other words I only drew up a trade plan or you know this little trade tool thing I only set them up for the upside and what I did on Sunday night was that I actually adjusted this for this week obviously because this is basically the review of last week that's what we're gonna do right here and then I added the downside play as well okay so just to make sure that this is what we're looking at because what we're gonna do first is go over last week's which was basically here let me go ahead and draw a rectangle to get you guys's focus on this okay so this is the first Monday out the gate I'm gonna go ahead and draw this Monday Tuesday Wednesday Thursday Friday there we go that's the trading week for oops that didn't work out well Thursday Friday there we go there we go okay so that was a training week the end of the week the one that we're reviewing today this the on on Saturday or Sunday I review the plays that we took the previous week okay so Monday Tuesday were you know days that didn't really do much Wednesday was a little bit bearish and and then Thursday and Friday Thursday one is when the CPI came out so you can see how it it just really took off and and a Bank of America stock really really dug those CPI numbers you can see was very bullish Thursday and Friday of course so was everything else pretty much that was one of the key things about this rally was that it was very broad so it covered a lot of sectors so it's it's it's deemed to be a stronger more stable I guess you could call it or basically more positive rally if it encompasses every sector because you're basically you know you're basically saying okay the economy as a whole is gonna be driving upwards not just a particular sector so this is the banking sector but in the Thursday and Friday rally I believe the the breath but it's called the breath of that market rally basically the industries that it covered the number of tickers that were up versus down which is you'll you'll usually see them as gainers versus versus losers you know it was very broad across every industry so it was very very positive very bullish and there it is so and I believe our play which has now moved because I again like I said this one was actually the one on this is the one that I already drew up for this week which is the second week of November but if you recall these were our our previous levels this one here was our target at 3869 ish and this one was our entry at 3751 so basically this would have been down here like so all right so that is what Bank of America did the entry level was right here at 3747 we definitely entered on Thursday and we closed in on Friday and it was very bullish and very profitable trade okay so what we do remember we draw these and we're gonna start with a with a fresh one at the end of this video with a couple of tickers that I drew up for this week we're only gonna use as examples but basically you know you find your levels and once you find your levels you decide which is the next resistance above the current price target that needs to be broken and then the next resistance above that is your price target okay and if you're gonna play to the downside then you you pick the nearest support to your target to your current price level that needs to be broken in order to head back down to the next support below that as your price target okay so this was the week obviously very bullish starting on Thursday and Bank of America did extremely well I believe I did take that trade and I posted it in the X trades app okay let me hit undo here and reset this where it was okay so basically what I did was at the end of the week here I grabbed my long tool and I moved it up so the next resistance is my you know my entry to break and the next the next resistance above that is my price target alright so that is what we did and we also added the downside place so what happened during this week this is already Tuesday so let me see if I can grab this tool here carefully move it yep okay there is Monday and I don't like the way this snaps to the candles but whatever so here's Monday and here's Tuesday and basically hasn't done much okay so it opened 38 bucks and it closed back 37 it opened 38 or so bucks and it closed down 37 again you know so it hasn't really done anything this is going to be very choppy and we are still I am still bullish on this because I do expect this to take off tomorrow after the PPI print the PPI which is the producer price index is basically a precursor to the CPI in the sense that whatever gets manufactured also incurs in increases increases in price so there's also inflation on basically on the supply side for companies that manufacture stuff so or provide services as well so that is going to be the print for tomorrow and and this is still going to be my trade plan either to the upside or to the downside okay so again the it's just a rinse and repeat you know you find your last candle you look for support levels which we've gone through how to draw them above 1 2 3 4 5 support level resistance levels above 1 2 3 4 5 support resistance support levels below sorry and basically you know you just move your trade tool up and down all right and you take the trade either way of course that's the technical the simplest technical part of it you have to add into that as we mentioned there's a lot of other technical analysis that goes into you know giving you an idea of what momentum is like if it's oversold or if it's overbought I ran into a few indicators I'll make a video probably at the end of this month dedicated exclusively to some of the new indicators that I've been looking at and and and so there's a lot of you know we talked about the trend being number one number two the support and resistance levels number three you know the indicators the and the price patterns that you can find so we haven't looked at any price patterns yet you know I normally when the market is this choppy it's kind of hard to get a price pattern in like in this case there's really nothing even on the daily you know that doesn't look like anything other than you know is broke above this inverted megaphone or whatnot but there doesn't seem to be a whole lot of price patterns at least not on the daily so just for fun let's drop into the one hour and then we'll move on okay so this is going to be like I said the video that we'll get at the end of this week that's the basically the first half that's Monday and Tuesday right there okay so this is the same see what I'm trying to find is if there's any price patterns that might pop up because we haven't really seen any in the ones that we've been looking at it's not like you look for a price pattern and then try to you know try to stock because of the price pattern at least that's not what I do so I don't see anything here that I would consider you know a clear enough price pattern to say oh okay this is a you know inverted nothing descending ascending nothing a flag or anything of any kind so nothing on Bank of America okay but the bullish played definitely played out last week and this week we haven't been able to enter any of the trades because it's just basically been it's been a no trade it's been you know hanging around this you know demilitarized zone or whatever zone where it won't be a trade to the upside won't be a trade to the downside okay so let's switch over to oxy so Bank of America was a winning trade if you will oxy was a trade that let me zoom out to the daily that we did not end up let me see here we ended up not taking it basically because it didn't break through our entry level and because we only had yeah because we only had the bullish play on since last week then it was a no play last week or a no trade sorry okay let me see here zooming in here quite a bit okay all right so we had been seeing oxy trade in this channel and it had basically this is last week so this is this ad here this is Wednesday so this is Monday right here so basically Monday started out pretty bullish but it didn't reach and I believe that I actually didn't move the the long trade tool for this week I left it intact so this was our opening on Monday and even though we did close a above even though we did close above I actually there was profit enough if we zoom into the one hour there was a little bit of profit enough that we if we would have taken the trade I actually did not take this trade to be honest let me see here I believe it was see so this is Monday Tuesday right now this is Friday Thursday Wednesday Monday here we go right here I recognize this pattern so this is where the entry this was our entry level for the previous place so I actually did move the trade plan for this week but sorry this was the level this was the entry level so there were I remember it because there was enough of so let me see you can check the video if you guys want to 74.99 more less and it did open I did close above this so there was some room for profit up to here and then after this point it just went underneath and it hit our stop loss I believe it hit our stop loss right here just you know remembering what I saw on Sunday night I remember that this little bullish candle on this POC line was when we actually stopped out so we would have gotten in and made some profit if we would have taken that profit considering this level as a short-term resistance otherwise we would have gotten stopped out of our trade right here and once we were out of the trade then it basically just melted down to Wednesday Thursday and then it never really closed back above this 74.99 level so that would have been our oxy and basically what I did is actually did adjust the long and I added the short and this is what we're in right now again a no trade it didn't close significantly below the entry level it didn't and never broke through this resistance up here but I am still rather bullish on oxy for the rest of November and December actually so I'm gonna keep this as a bullish play probably into next month okay so that was one winning one losing trade sort of losing because we actually we got stopped out but Bank of America oxy the next one I believe was Pfizer yeah and then the last one was AT&T so here's the Pfizer Pfizer was also a play that did not go well healthcare in general okay so here is what it did starting Monday on Monday the 7th and this is the one that I actually left the play the way it was so this was a no trade as you can see this was sorry that's Friday there that's Monday did not break our entry or did not close above that entry this was Tuesday same thing this was Wednesday Thursday even with the bullishness of the market it did not close above and then Friday it closed right on it but obviously on Friday we probably we definitely not probably we definitely would not have taken a Friday expiration remember that all these trades that I'm working on have end of the week Friday expiration dates okay so I left the same trade plan and this was actually in play today and I did not take it I wasn't ready but if this closes if this opens above and you know it very well might above our entry level of 47 60 something tomorrow Wednesday I'll actually take this I'll actually take this especially with with what's going on over there in Europe I'm definitely going to take this up towards that 50 level so I'll be watching this one tomorrow sorry this is Pfizer this is not oxy so if this closes again like I said if this closes above our entry which was 47 60 ish I'll definitely take this play and and see if I can write it up to the 50 because again these are defensive stocks I expect people investors to be you know diving into these assets for dividend for safety for you know slow growth versus stable growth so it's that's the trade off and and Pfizer is a very solid candidate okay and actually if we look eh you might this is what we're talking about you know you don't want to force it too much but I believe where the trading patterns I can't I haven't used them in so long I believe that might be an inverted head and shoulders right here so from here to here although that's that's a big stretch I didn't really draw that right okay all the way up to here alright you see that and how it closes right in line with that neck and unfortunately so that's a lopsided inverse head and shoulders so that would be the play and if it if it breaks above this level here although this is a very short term support but if it breaks above this which would be basically this swing high right here that's I got quite a bit of room to run I would actually take this trade tomorrow like I said if it opens above our entry you know unless there's like some not any like unforeseen catastrophe then I will go ahead and take this play and ride it out for a couple of reasons one for the inverted head and shoulders which is a little sloppy I'll admit but I'm still very bullish on Pfizer I just might give myself probably another week so I wouldn't I might I might actually spread out the rest so I might do like a 50 call on this Friday's expiration which would be let me see I'm really bad I think it's the 18th right 15 16 17 18 yeah I would do like a 50 call for the for the Friday expiration and I would do probably also do a 50 call for the or I think Pfizer trades and halves so there might be like a 50.5 I might do the 50.5 for next week so I'm actually gonna write that down because that is actually like the way that one looks the 50 call and the 50.5 call okay so that would be our long play for Pfizer and this would be our downplay I'm not really expecting anything to be too negative on health care so let's jump over to AT&T real quick because we're running out of time and there we go and that's on the daily AT&T was very bullish last week and it blew our targets and it actually bounced right off of our target I believe and then it ended the week over here okay but we did we did come out with sorry this was the this was last week sorry right oh my goodness let me zoom in on that okay so there we go okay so I believe this is Monday right there okay so Monday and we basically just went up all the way Monday Tuesday Wednesday and then CPI Thursday and Friday was right there and this is where we not only hit our resistance which is a which was a long-term resistance but we also ran into this supply zone and it seems to be wicking off of that supply zone so it doesn't seem like it's going to go through it unless you get probably with tomorrow's print we might get if it was if it does come out a positive PPI then we might get enough push to go through at least through this supply zone and probably hit somewhere around 20s so that's our trade plan right there it's actually right it did close above so this should have been an entry so I'll take it again I didn't take any entries today I was having issues I think I kind of still am having issues with my profile on x-rays so I didn't take it on the app but I I do think that this is obviously there's there might be some bullish room tomorrow enough that it might go to the top of that zone or at least to that fib right there which is the 50 fib so based on how it opens tomorrow I just might like you know enter all of these trades tomorrow Wednesday instead of you know on Monday and Tuesday when you get CPI and PPI and big economic reports where the like coming out on during the week it's actually I mean it's more risky because it's basically a high volatility event so it's very it it sometimes behooves you to wait it out I didn't do it for that reason I did it because I just came in like I said from from a from a long trip and I didn't you know get all my affairs sort sorted out on in this morning enough to you know focus on trading that was why I was unable to take any of these trades but I will definitely jump in tomorrow if things look positive okay so those were the four tickers that we said that we're gonna analyze on in the month of October and the other if I can recall what they were onset medical I can't remember if it was omt or OST yeah outset medical there it is oh wait a minute where did it go so maybe it was OM sorry man this laptop is just really slow okay so there's outset medical and the reason why I picked this is because I basically heard some good news on it I but and it did have like very good earnings and I actually like what this company does but that's kind of thing to trading unless you're doing it for the long term but there that's a very bullish you know bounce you know who whatever you know trading experience you have I mean that's that's pretty solid right there and it definitely took out this high as you can see these are all the highs that I marked I did this on mobile and I up I uploaded it but it didn't look very well so I actually took it down but took out that high it took out that high it took out that high and sorry it didn't take out this high it's kind of bouncing off of this high so that is actually my entry point is if you can see right there I'm gonna zoom in again that is basically because this is on the daily that is basically these are two that I added in November just because I had the time and I was on mobile when I read the article or heard the podcast I remember what it was I think it was a podcast and and this is what it did on Monday so it it opened up you know remember that this reported earnings on last Tuesday so it was still bullish Monday and even today Tuesday and it did not break our entry so this will have been a no trade as well as you can see to zoom in more geez okay all right well that's pretty close let me go ahead and drop down to the four hour okay so it did not break our entry so that's a no trade and actually bounce right off and you can see how it wicked I know really hard over here last week on Friday off of that level so that's very that's a that looks like a very very very significant resistance right there so it looks like a very good place to set an entry of course I set this before I set this before the week started actually on Sunday night so I'm still thinking that's that's pretty bullish and there's some room to run here between the 19 and the 21 so I will also be like I said looking at this tomorrow which I will have more time to focus on trading and keep my bullish position on OM and the other one I'm not sure if I wanted to do the four hour yet but okay I think it was TWI which is Titan international yep that's the one okay so here's the plays that I set up on Titan and that one did not do very well to the upside but it hasn't done bad enough that it's a play to the downside now I did these very quick and I did them on mobile which is actually one of the first or if you look at my entry entry to trading video now what one of the things I stress them you know you know very very strongly is do not trade on mobile I didn't have the option but I didn't trade these I was setting it up because I was expecting to be able to come in with enough time this week to actually review these plays but obviously that did not happen so I probably skipped a few over a few levels and that's also why there's at this is a no trade I probably skipped over a few levels in here and that's why it's just been you know kind of bouncing around like ping-pong and I haven't gotten entry signal and that's fine you know sometimes it happens and it's actually better because if you're just gonna have you know a stock bouncing around you know buying options is definitely what you do not want to back to the theta that we reviewed in that other video the Greeks video theta is is not something that is something that you will definitely lose if it chops around look at this I mean it's been since the beginning of November when it closed at fifth the end of yeah end of October beginning of November close at 1514 and it's currently 15 days later at 1486 you know if you had taken a call on this thing the only day you might have had some profit would have been this one and any other day you know theta would have just killed you because it's been bouncing around and the closer you get to expiration then the quicker your option contracts lose value if they don't reach and or break past the strike price so this is definitely not something you want to see on an option or yeah on an option tradeable chart I guess but let me zoom out here because this is definitely and this is trying to find a pattern here for you guys not much thought it was a flag for a bit but no this is not looking I use this as an example to basically just draw support and resistance levels so I'll just go ahead and do that on another video but that's what this that's what I used this ticker for now the longs are still that the long and the short are still there but I doubt that they're gonna hit you know this week or maybe even next week so I'll just do another video probably in December reviewing how to you know basically going over our steps are yeah each step in our process which I believe I outlined in the spy chart so let me to end this video let me get out here okay and even go to the weekly on spy okay I have to clean these charts up okay so let me find where my text is this is not what trading views for but I put my text all my steps here and I can't seem to find them this has already happened to me before but I do remember that I I created a PowerPoint and I'll basically review each one of those steps at the end of December at the end of the year for you guys yeah that's not here I don't I honestly don't know where it went but basically it was okay so you grab a chart you know and you look at two areas technicals and fundamentals technicals is okay yep this is an uptrend definitely okay of course this is on the weekly timeframe but this is an uptrend for sure and then you start what kind of technicals you look at well you look at the trend uptrend in this case not from here on from here on it's definitely downtrend but you know just to get a clean area of the chart okay so this is an uptrend okay and then number two you start drawing swings which are important price levels or actually you start drawing support resistance levels and one way to draw support resistance levels is to look for swings because swings are important price levels so that's a swing high that's a swing high that's a swing high that's a swing high and it keeps going right so all of those are swing highs and highs and highs swing high swing high for example you don't look at anything in here because this is not a swing high it's not higher than this high it's lower than that high so that's not considered swing high so it's not considered an important level at this time frame and you keep drawing those and those are gonna be your important levels you also draw your swing lows okay so if this were a downtrend then you would draw all the swing lows number two the second way to draw or to locate to support resistance levels is to look for areas with many touches which kind of stand out to you because for example actually right here where I left it look at this area right here the 210 on spy I mean it was definitely resistance in 2015 it was resistance over here again in 2015 it was resistance again here 2016 and then it broke above here in 2017 all right and it didn't go as low here but it got pretty close to that 210 level all right and it definitely wicked very close to it in 2020 with the pandemic right in March of 2020 so that is definitely a support level it stands out you can see another one right around here okay you can see it was support support support support and barely broken resistance and then resistance right here and then resistance which was barely broken right there okay so that's another important level the 281 and then once you've got swings for levels and you've got multiple touches for levels then you want to try to confirm that by using the fib tool or at least that's my strategy you grab the fib tool and then you draw okay from the lowest you know and this is depending on the time frame that you're going for from the lowest point to the highest point during that time and usually that will line up with important levels and so you can see that there's an important 185 level right here okay and it definitely looks like it was good support there there and there again support three times all right so once you've added all your levels okay you continue with your technical analysis and you look at price patterns right so the best price pattern I can show you here and I haven't been finding many of those lately in the individual tickers but I do have one very big one on spy here which I want to try to bring into focus all right here it's this downward megaphone okay which you can see is outlined by this bottom trend line and that top trend line so it just kind of once it reached this high this all-time high it dropped bounced up it dropped bounced up it started dropping it didn't quite reach it could still have bounced up and then it could drop again okay and if you find price patterns like that this is one of the weakest ones but you know you got your inverse hand shoulders your head and shoulders your bow flags your bear flags your ascending and descending triangles and wedges and whatnot then that just basically adds to your support levels you know it basically tells you okay okay then if this is a support level right here you know because this is a down trending channel and it hits this level which is also a support level which I've drawn here let me zoom in on this okay so that's how you you bring these these things together so that you get a higher probability of a trade working out okay so let's look at this right here okay this is obviously quite in the past because this is a weekly but this was coming down off the top of the channel we'll get how strongly that gets rejected right there and then just dives here bounces a little bit and it hits down here again okay so this is definitely a channel that's forming here and it reacts to it and there's also a support level here and here okay once this thing bounces above that support level so it's bouncing above this horizontal line here of support and above this dynamic or down trending megaphone here then you can have a higher probability of being right that this is going to head up towards the top of this channel okay once it hits the top it's very probable that it's going to head back down okay and then it back it goes back up okay when it's at its obviously the highest probability is that it will go back down okay and how do you determine which is the highest point or the lowest point while you look for those support and resistance levels okay and that's why we draw the support and resistance levels based on different different types of statistics the fib statistics the multiple touches and the swing highs and swing lows okay so once you've identified if any price patterns on the chart then you go and you look for indicators so I remember that we mentioned so if you're coming here and you add let's say you know one of the ones that people use a lot the MACD indicator so it throws it down here at the bottom and this is going up okay and this makes sense the MACD is showing some momentum to the upside now of course it will probably think about it this way it's still on its way up okay to the top of this down trending line it might have some more room to go until it oops until it reaches the top of that trend line which is probably when this MACD is going to hit the center line what in the world hold on a second I don't know what's going on here okay so it's probably the the moment that the price on the price chart hits the top of that trend line will probably be when this MACD indicator is somewhere near this zero line and that is where when it's you know it's crunch time it's either going to hit that top trend line and then head back down which means that this MACD is going to do basically this it's going to start curling up as it is right now and then it's going to head back down okay and it might do it again and then when it hits the top of that trend line it's going to just head back down or it's just going to bust right through if there is enough positive market news for it to do so okay so that is the whole reason of why we draw these support levels and we look for patterns because we want to find out which is the area of highest probability that a trade if it goes up above this trend line or down to the you know to the bottom of that megaphone it will be profitable in either direction okay because if you take a trade somewhere in the middle here then you have a lower probability of this going up or down okay and you could make some money definitely there's money to be made from here to here but it could also just you know break up okay so once you do that then you look you've got your trend you've got your support levels you've got your price patterns and you've got your indicators and then once you're done that is basically the wrap-up for the technical analysis part and then we move into the fundamentals and then fundamentals we look for market news sector or industry news upgrades downgrades economic data that also moves markets and and we add that to the mix and that is how we decide which is a more likely profitable trade or which direction would be a more likely profitable trade so in this case it's probably more likely that you don't take a trade here and wait for it to actually reach the top of this trend line and wick off of it the way it did here or breaks above it for the long for the long call or the bullish calls all right so that's where I'm going to close it off at and I hope these reviews are helping this the trading strategies sink in and and then I really do expect that I will be able to place these trades tomorrow finally so I will see you guys in the next video