 Welcome again, folks. This one is similar to what we presented earlier about having a strong plan with a line that can be broken if we Cross above the previous resistance in this particular case. It's the opposite We are looking at a play where we will drop to support Why because we were trading higher and I'll show you exactly why this is LMT Lockheed Martin It reported yesterday. I had strong numbers It had a very good morning then a pullback with the rest of the market it was kind of hiffy all day and This morning I had even more upgrades from various analysts and you know PT raised This was setting up for something that is really nice Now I'm not talking about just earnings not talking about analysts saying it's It's time to buy. I'm talking also about the overall situation in the world I don't want to get into political situation here, but the situation in Ukraine is Concerning in a defense stock like Lockheed Martin is something that you shouldn't be looking for There are other ones, but this is pretty much my favorite when it comes time to play defense stuff. So looking at Lockheed LMT here is I'll show you exactly what happened and this is the interest the interesting part if you only look at the chart Look what happened. This was yesterday At this level and a day then it's kind of struggling and then with the upgrades and everything it's gapping up It's opening on a gap up I'll zoom in a little later, but I want to show you something now If you only let's do that. Let's do that together. If you only look at The open in let's say this is your chart, right? It opens up It's flat Let's say this is the high of the pre-market high, right? it Drops down through the open and it reaches to what pre-market high if you look at if you have watched previous videos you'll show the pre-market high is something that I tend to look for as Resistance and this is pretty much what happened and you know for long period 930 to about, you know, this time 1015 It's 45 minutes of nothing happened. Really? This is nothing happening. So what are you expecting for breaks out? Yes, we are on the buyer's side. No, it's rejecting the line Where will it drop down to? Right have to be prepared for that if you look at the chart Well in my chart, there's nothing really telling me that it's about to turn around apart from the fact that here you have a Red candle and the next one is the inside bar on the green and then it starts moving to the upside This could trigger something. However, I like to see it look at what happened before price levels Showing you this before and I hope you guys have learned a few things and I'll show you exactly what I was looking for Look at the previous day, right? Where's resistance and where's support? Let's Not put any line and let's look at this together This is post earnings. It rises to a certain point It comes down to a certain point doesn't want to cross this line and then it ends the day At midday at this point and then it's kind of struggling and it goes over To a certain line now it's coming down. We could have thought that this would be a line but if we erase all this you'll see that this is only a wick right and If we zoom in You see these two wicks top of that Let's pretend that we're close to that When we reach that line These guys were willing to buy To a certain point and these guys to a certain point here same thing here in This vicinity here. Do you agree that we have some sort of a resistance? So Resistance from that direction it would create support from that direction. Okay? Let's abandon this put a line together at the line that we're talking about here pretty much to that See, this is how I prepped the line it's Struggling to get through it tries it tries and eventually it does So in my opinion, I was looking at this and let's look at pre-market same thing. Oh, we have someone here Late in the day, that's where it came down to see there's a little tiny Candle here is flat can't really see it because volume is pretty light, but you see all these lines there So this is the bottom one. So basically 384 811 is The line that I was looking for a bounce This is where I alerted and See this is where it ended up bouncing see how We got close where we're talking about the different candle patterns before but I'm more into Support and resistance levels. So it was at 384 ish. It dipped a little under I think our fill was pretty pretty good on this one I think it did a little under our fill Because we got in while it was dropping and then a few weeks at the bottom and then it started rising What's the target? I said we are going back to the 490. Sorry 390 zone, which is that level from the Morning right the morning was that level and And that's what we got at this point and at that point we were just above it and flat trading For quite a while, which was a little boring and then if you look at the rest of the day It just took off to a higher point. However, we took more than a half of our position At above 100% which creates a perfectly trade free trade And and then it continued for you know, almost 393 394 I believe my end target was 392 ish to be in the 392 ish. I was happy with I believe we took another Portion of our play there, but just to go back Do the strategy here? It was the opposite we opened higher than The previous day. Where are we looking? What are we looking for if we break the pre-market high? Yes, we enter the The buyer side however this pullback where will it pull back to and We looked at previous Resistance and it pretty much matches it to the to the penny. So again folks I hope you're learning from this. This was planning ahead in The opposite way, but I'm sure you can put this in your toolbox. Thanks for watching