 Welcome back. What us folks? We have been pounding the nail of double bottom to recovery lately I hope you have watched the previous videos because in this one basically it's just a recap of what we've seen Before but I want to make you sure I want to make sure that you guys understand how we picked on Friday this Amazon play that was Basically just a recap a cut and paste of what we've seen and tried to show you so basically stick around We were looking at a downturn on Amazon and the rest of the market all day from the open We had a rejection of this pre-market jump High and it came down to a certain level This level here Was tested once twice and then it broke under however all of this time while Amazon was I'm not saying strong but Trading flat the rest of the market is going that way So it's just showing that it's it doesn't want to get below that It just wants to hold it hold at this level and no one is getting any lower no one is selling any lower So I was interesting interested in knowing why this was still holding while the market was Accelerating to the downside and at this point I mean market was truly going like this and then it started going like that even further and we were still holding Up to the point where we saw this dip Here at the time market was going at a faster rate to the downside Are we going to collapse completely or are we going to bounce a little bit? I was under the impression that we were going to bounce so in this video what I'm going to show you are different things that we have seen and first of all is double or multiple bottoms to I want to show you the Tima that we have shown in a previous video and Three the recovery. So at this level here is the bottom I'm under the impression that spy has reached a bottom So is it worth taking this to what? Now, let me get this a little bit bigger so you guys can understand the possibilities here So let's zoom in on this on this guy We are at this low I Have I'm under the impression that we could get back To this high which is closer to 350 We're in the 320 zone 320 zone and I think we can get to 350 350 350 that makes how much? 30 bucks Delta Showing you this before Delta at the time was about 0.20 which is 20 cents for each dollar that we rise You can calculate that that's how much that's $30 30 times two, right? That's six dollars above premium that you're buying. I Was under the impression we could get maybe as much as $30 Sorry $30 is to the upside. So we're looking at what exactly what this is showing 30 times 0.2 30 times 0.2 is $60 a six dollars You all follow me, right? So I decided to look at the price of the options for the 3050 I mixed I messed up. I messed up and I took the 30 55 instead I was looking at it went too fast and at the time Delta is about the same They were close to 370 370 plus six well, that's really worth it. Y'all follow me, right? So this recovery Will be $30 Times a delta of 20 cents makes it six dollars higher than the entry point 370 now we were a little higher than 320 we're very close to 320 when we alerted and It started to move up. However first thing Why could this be a good point? Now? Let's go back a second here Let's move out look at the one-hour chart and you look at possible Interest points, right? Yeah, let me I'll go even further out than that Hold on a second Yeah, so this is the one-hour chart Points of interest here is a dip Here is a dip And then this is a top and This is a top as well. So basically this becomes resistance and now this becomes support Right, you all see that so let's draw a line on that see this yellow line now Okay, 313 24. Let's zoom back in and keep this line right there Okay, it's a little under what we are looking but It's very close, you know, but remember it's a 30. It's a $3,000 stop It's very close to a target for a bounce that we saw on the hourly was multiple bounce So we have the multiple bounce. We have the possible recovery to a 30 30 50 point which would lead to lead us to a above $6 So this could be a good a good play and then The other thing I was I wanted to tell you about I talked to you about is the Tima and let's take this a good look it's the neon green line and This is where We jumped above Tima. See this is above the Tima now. So basically This this one and this one and all the rest up until what? until here is above Tima so the target Which was right there Was reached and what happened is Let's let's just say you took four of them for contracts At 370 this is roughly just under $1500. I know it's a lot of money for many but just follow me on this Selling half because we alerted half out as we were reaching the 50 EMA here and It was 815 at the time so that is a little above 800% Right, so you got 815 once 815 Twice and then later on I believe it around this area. We alerted another exit at $18 and in our podcast At 3 o'clock when we started here. We alerted another exit and the 32 area. So all of this here for contracts ended up being 66 30 For an initial cost of 14 8 Now, what's your risk? Risk is if we get under the yellow line here, basically, it's a free fall because there's no Absolutely no support underneath here We have a few points that confirm the idea spies at the at the lows We're very close to support. We have possible retracement to the outside here for a Recovery and we have the team so when you balance out possibilities versus what could go wrong. Well, I know we're very close to Exploration but taking something at 370 to end up selling at 32 is kind of worth it However, when you take half of it out making it at a little above 100% it makes it a free trade something that is a lot more easy to To hold while it goes through our initial target. So that being said We're looking at a play where we had all the elements that we wanted to tell the to focus on this week and One of which was what the double bottom? The other one was the recovery and why the recovery look This went There there there. It doesn't want to get through here Right. What do you think? It's going to happen when we recover to this It's probably going to hit resistance. Have a hard time. See how what it did here If you look at the line what it did It went it was close to it went through came back and now it became resistance Came resistance again, and then it flushed at the end of the day where I believe it closed very close to the Resistance like yes, it did look 30 30 52. That's exactly where it closed. So basically it was Resistance and now it became support all the way till the end of the day. So the recovery is Basically to the first resistance point and we also had the Tima in this case To confirm that you were on the bullish side. So I'm not saying to play Zero day late in the day However, I'm just showing you Possibilities when you have a lot of elements coming into play a lot of things that are Confirming a good entry. This is what you should focus on. So hope you guys Are learning this week was a lot about this These possible plays where we have double bottoms where we have our recoveries Keep these in mind Zoom out make sure you can look at them and identify them put that in your toolbox and make sure to be To be familiar with that with these plays. So thanks for watching folks. Have a good one