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Today we take a look at RHI on the 2 minute time frame and poll the room for an alert they would make if they saw this chart. Clay alerted ‘cliff point in bear river.’ Clay goes on to give his logic on why he waited to enter until the following candle based on the rubber band move down. He let the chart form a little more. After finding out members entries points we continue to poll the room for their stop loss location. We scroll the chart and see it goes on to hit Clay’s target for a quick winning trade. Clay explains why he acted fast to take profit on this particular trade based on the magnitude of the move.
We move on to some top down analysis starting with NVDA on the daily. It has a nice level of resistance at the 120 mark and has been rejected from the 50sma recently. As we move onto smaller time frames, we see that it gives Clay confidence in thesis from the daily based on it overcoming key moving averages.