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Clay uses the beginning of the webinar to remind us to always check the volume before taking the time to do in depth analysis.
We then discuss level two and how to properly utilize it for trading. You can use it to help see levels of support or resistance just by looking at the market makers and the size shown.
Today we look at KSS on the 2 minute chart. Clay alerted the nasty candle in a bear river. After letting everyone set up their trade plans, we scroll the chart forward. While some people got stopped out on the first candle, it would lead us to believe that their stop location was not logical. After a few candles with lower wicks, the chart does eventually move higher stopping everyone out. While this wasn’t a home run, this is just one of the singles that can add up if you trade well repeatedly.