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We start today’s webinar with a screenshot from someone in the community who is hesitant to learn or invest in their education. This person got stopped out very easily at a grandma number along with a moving average.
Clay then walks us through the thinking of his scalping strategy with an example. He is looking for overextended moves and quizzes the room about where his entry would have been for this trade.
We take a look at one of the tickers ($CX) from the weekend newsletter. It has a nice lower trendline with a key moving average. After polling the room for their stop loss locations, we run into a slight problem of sitting right above a grandma level. As we scroll the chart we see that the level right above the grandma level of 6.5 acted as another great bounce location. This is a great example of putting multiple pieces of the puzzle and putting it together for a trade idea.