Getting Started with Technical Analysis

good afternoon everyone Welcome to our

webcast on getting started with

technical analysis where we go into some

of technical analysis principles that

are going to be really helpful to you

last week we started with RSI the

relative strength index we kind of did a

part one we're going to do part two of

that today and kind of wrap it up in a

tidy package and learn how to use it a

little bit better this week I am joined

in the chat by Lee B I'm happy Lee's

here he's a great technician he is also

a CMT chartered Market technician which

means we've gone through a program

studying technical indicators and how we

might be able to use them in our trading

I want to give a quick shout out to

those of you that are here early today

we've got sandep Kevin Josie uh Robert

Sim Jeff Wade which I told Jeff I have

two cousins named Jeff and Wade Roger

Kathy uh rangit Scott Happy you're all

here today let's go through some

disclosures we'll lay out our agenda and

get going I've got quite a full agenda

for us here today what we talk about is

intended for informational and

educational purposes only you shouldn't

consider it an individual recommendation

of any sort we do talk about technical

analysis here however Schwab does not

recommend this sole use of technical

analysis as your investment research

we're going to be using the downloaded

thinkers swim software paper money it's

the most robust of the versions of think

or Swim past performance is not a

guarantee of future results or success

star markets care are volatile and can

decline significantly in response to

aders issuer political regulatory Market

or economic developments investing

involves risk including the loss of

principal now today we are going to

focus on one specific indicator RSI as I

mentioned to you and uh we're going to

be taking a look at a little bit more in

depth and how you might be able to apply

using it of course we're going to be

doing some example trades and following

up on our example trade from last week

so when we're talking about indicators

and oscillators uh they can vary on what

exactly they are there's some Trend

indicators which usually are moving

averages but usually the the breakdown

of any technical analysis is some

modification or averaging of prices

volume and sometimes both those are

going to be the most popular you'll hear

the phrase price is King which basically

means whatever the price action is doing

that is the most dominant thing to pay

attention to uh oscillators uh are

indicators that are typically displayed

in a separate menu on our screen here

we're using the macd as an example of

that sometimes they have ranges

sometimes they don't have ranges a macd

for example doesn't have a fixed range

RSI on the other hand does yes now Wells

Wilder who created this oscillator and

published it I think it was like in

uh he wanted to solve for a couple

of problems now one problem he wanted to

solve for was the fact that sometimes

you see a real sharp drop off when

you're averaging some numbers maybe you

have an average in there or a number in

there that's really big and maybe

escalating up what the average is of a

price whatever's going on and then when

it's time for that indicator or that

data drop off sometimes you see a real

sharp drop and so he wanted to create

something with kind of a smoothing

effect he also wanted to have some

ranges and so on the RSI the range H

goes from zero to  can't go higher

than  uh and that uh is what he was

trying to solve for and kind of having a

some uh commentator or com uh maybe

Reflections maybe of the price action

where he said all right on on an RSI 

or higher means that the Stock's

overbought which really means bullish 

and lower would mean that the stock is

oversold and sometimes that has the

connotation of being bearish all right

let's jump in let's look at some

examples here

today oh I do want you to follow me and

Lee on X I'm Connie Hill Cs and Lee does

lot of great posting as well he is Lee Bohl

CS and just checking to see if there's

anything I need to address in here

doesn't look like I do so far all right

let's jump over here to do our thinker

swim and we're going to start out

looking at a couple of things from last

week and the week before two weeks ago

we talked about DMI and using it as an

indicator paper money is a great

educational tool but it is not perfect

in every respect it acts a little bit

differently than what we might expect

out of a live account one of the things

it doesn't do especially well is stock

splits okay we did a trade on Nvidia

knowing it was having a  for one stock

split coming up uh for our position

sizing for the class we just did a

couple of

contracts however I want to kind of

point out a couple of things to you here

the trade price let's get that again the

trade price was

$, and change well when the stock

split took place it didn't go back and

adjust this price it didn't divide it by

and so in our account it looks like

we have a big loss here but in reality

we do have a winning trade I wanted to

show you how you can handle that okay in

reality split adjusted price would be

ou would be uh   or I take one uh

one uh

I'm not saying that right

 or

$ okay we would just essentially

divide that by  now because the trade

hasn't hit an exit signal we we'll go

ahead and look at Nvidia here real quick

just kind of show you what the chart

looks

like we have continuing in an in an

upward Trend we see our DMI indicator

here on the bottom and remember with the

DMI the DI positive is green that means

the bullish trend is dominant di

negative is colored in red and that

means the bearish trend is uh dominant

so whichever line green or red whatever

is on top is the dominant trending

indicator and so we can see on this yeah

absolutely the green is still well above

the red which means we would stay in the

trade we don't have an exit signal

furthermore that adx indicator which is

the black line in here the adx gives us

a sign of or an idea of how strong the

trend is and so anything above  we

would say is strong if it gets above 

we'd say it's very strong now right now

on this uh adx it looks like has reading

about  so that's

a in a very strong territory letting us

know that the the trend is still strong

the bullish Trend now in your paper

money account you should be able to have

the ability to do what I'm going to show

you right now we want to adjust this

price okay we want to basically divide

it by  you can't do this in your Live

account right your Live account takes

care of stock splits like it should

we're going to go ahead here right Mouse

click on it and I'm going to say adjust

position okay now it's flooding in here

the current

price and what we want to do is uh we're

going to say on the quantity so we're

going to say two in our two quantity

that we have there we're going to change

that price

to get rid of that so uh 

 and we'll actually put our decimal

right there we can go

okay so we're just going to change

that price to

we'll just leave it as position

adjustment we'll say

okay

and it did not do what I thought it was

going to do should be changing that

price there and I did see an adjustment

but I think it was just the price

changing let me try this one more

time uh to adjust position

and uh let me move up here just wanted

to make sure we had seen our two

quantity maybe you know I haven't tested

this out in this new demo account it

might not allow you to do this so I'm

not going to spend any more time on it I

would have expected it to already change

for us okay but it didn't so we're just

going to hit cancel and we're going to

move on kurg Dr Pepper was our position

that we got in last we D KDP uh on it we

weren't using DMI we were using the RSI

and what we saw on this

stock okay uh Kathy was saying hey don't

you need to adjust the quantity as well

uh typically you do you tell it how many

you want to adjust in that quantity so

uh can iust this in a live account no

art you you're never you can't do those

kind of things in a live account that

you can do in a paper money account

because it's it's an educational tool

that we're working with here so we're

going to skip it we'll move on uh yeah

maybe adjusting the quantity to

uh diosa

recommends we won't worry about it right

now okay because uh you're right let's

do this our trade last week we got in

here as we were seeing a breakout signal

okay a the same time that we saw the

breakout signal on price on our RSI what

did it done it just broke through some

diagonal resistance we had drawn a trend

line here connecting those tops and

sometimes when you see that some Traders

might say I'm going to use that as an

entry signal as long as they have price

going up at the same time now you don't

have to have a breakout like we had here

but we we simply said hey we're that

kind of as additional

confirmation that price is looking

strong now exit signals all right

sometimes when we're uh putting together

some rules that we want to trade by we

might include and say Hey I want the

oscillator be to be doing this or we may

say you know I'm going to use my typical

price type entries like a a hold a

bounce a breakout above resistance a

breakout of of a particular trading

pattern like a flag or a

triangle and you might just use the an

oscillator as you just might consult it

it might not be built into your rules

now on this stock right now yeah kind of

went sideways for a little bit it pulled

back it hasn't made a lower low right if

it made a lower low it get below this

candle here so really it's still just

following the trend even though it's in

a kind of a bit of a pulling back so

we're going to leave this stop word is

we don't need to adjust it and we're

going to let it carry on continue to

trade until we get an excident signal

which would basically here we might

consider a lower low or maybe if it

broke down below this support area at 

and change somebody might consider

getting out there as well of course we

have our stop there that would get us

out of the trade because that would be

showing some significant weakness now

let me come over to the chat see what

your questions are

um truth says thinker swim is slow to

adjust the risk analyzer it's showing

old prices in Nvidia it very well maybe

in uh trades that took place while the

stock split prior to the stock split

yeah that very well could be the case

against an educational

tool uh you guys Kathy uh uh Sim thought

the same thing as

Kathy and Kathy was saying maybe you

need to adjust your quantity

again I'm going to skip on that if we

have time at the end of our session I

may go back and play with

that uh R says looking at the DMI your

colors are different you're right I

changed my colors uh and what you do

just bring up the study if you want the

DMI up just go in the search area here

type it in and then what I did renji

click on the

gear and then you're going to work down

in this area here okay so di positive

was like a a width of one and I don't

remember what color it was I think it

was like purple or something but green

is more intuitive of me to to me that

it's uh maybe a little bit more bullish

the DI negative I changed the red again

that coloring has meaning to me and then

on the

adx I changed it again to a three and

then the color here I changed to black

but just click on that block and you can

pick any color you want or a variation

of it when you go down Tom more if you

really want to fine-tune that

color all right thanks for asking

that tra say actually that's happening

in your Live account uh that's

interesting okay let's carry on talked

about little summary here of those

particular trades how RSI and DMI are

impacting them now I want to go back to

RSI that we started with last week and I

want to copy over some a summary of the

principles that we talked about then and

so a couple of

points let's just talk about

this all right what is significant for

bullish what's significant for bearish

and let me maybe just bold that so you

can see it a little bit better we have

an oversold area at  and you can see

it right here I take that back that's

the overbought area means buyers are in

control

we have an oversold area which is down

here  and below and so if something

has been say in the upper area and it

crosses down below the  that's when

somebody might consider being a little

bit more cautionary on their bullish

positions maybe adjusting stop

losses um they might not necessarily do

something just because it's crossed

below  they might say well let me see

if it gets below  that's going to go

into a new princip what we're going to

talk about today uh same thing here when

it's been below  and it crosses above

some Traders will take that as a

bullish signal some Traders might say I

want to see if it get it's above  if

it gets above  then they might

consider putting on a new position when

they are using the RSI either in their

roles or just maybe Consulting with it

okay so you you need to know those

boundaries one of the things

that um

RSI is really good at that a lot of

Traders like to use it for is for

identifying divergences Okay now what's

a Divergence when something is in the

price action is going higher but it's

not in the RSI so we're going to go to

the SPX for a moment here SPX has been

very strong two days ago it put in

another all-time high on the SPX you can

see in here I drew a flag pole and to me

it looks like it's consolidating in a

flag now one thing that's kind of

interesting here is we were starting to

see a Divergence on SPX during this

period of time where it was making

higher highs and again through here it

made a higher high we would expect the

RSI to put in a higher high and it

didn't okay so here's our high point

here on the

RSI actually we had it here it did go

slightly higher here so that's okay and

then we look at the next high is right

here man that's

lower okay where is the next high well

this actually goes a little bit higher

in the price but that RSI let's see if

it went

higher um through here was a little bit

of a Divergence this value is

. this one is

so now we're seeing the consistency

back so during this period of time when

there was a small there was a Divergence

didn't occur for very long but there was

one some people might use that as a

yellow flag hey pay attention maybe some

weakness is starting to show up but many

people will wait for price to confirm

that weakness in this case

SPX uh the RSI started making a higher

high all right so it kind of got back in

sync with what price was

doing it's helpful to use that boundary

identifying a Divergence on indexes you

can use it on individual stocks if you

want you can use it on future future

symbols okay you can use it regardless

all right so uh what I wanted to copy

over here are what we look for as

potential

entries okay we can look for a

Divergence again some people just use

that as a yellow flag wait for Price

confirmation it can break the trend line

just like it did in our let's see it was

on

u c Dr Pepper where it broke through the

resistance that diagonal resistance of

the RSI some people might use that and

then we talked about failure swings

what's a failure swing it means that the

oscillator isn't doing something we

expect it to do now on kurg here I want

you to come down to this day where they

had announced their earnings we had an

RSI in the overbought area had a value

value is . we would expect the next

Peak or on that next Peak we would

expect it to be higher if the RSI is not

higher if it's actually lower then we

call it a failure swing so here it's uh

went on this big move with earnings hit

a high up here so the RSI we can see was

at um let's see . and then we're

going to come along here and we'll say

we did it create a higher RSI value no

did it create another higher RSI value

no it didn't so at this point we would

we would say actually both of those

points are failure swings because it

didn't create a higher high above  and

it's the same thing about creating lower

lows on the downside below  okay now

we're going to add a new variable how to

use RSI that can be really helpful okay

okay it is what we call ranges so I'm

going to copy here what the ranges for

bearish environments and for bullish

environments and let me bold this and

let me

uh uh let's see I must have missed

something on my copy I did let me copy

one other thing the full range here

there we go

when stocks indexes are trending more

bullishly we're going to see highs in

the RSI we're going to see those highs

in the s to

s and we're going to see the lows in

the s to s I don't know why this

doesn't want to bold for me

but yeah I'll just leave it alone okay

hopefully you can see that good

enough when it's in a bearish Range the

the highs are lower and the lows are

lower okay so if it's in a bearish

Range uh

uh  to  is the high and the lows

typically are in a range of  to 

okay so they're typically in that

oversold area all right let's try this

here all right so we see our highs  to

lows  to  now if we go back to

SPX here let's see if it's been trading

in a bullish range or bearish range

okay on our

SPX let's kind of see what these highs

have been here recently so we had a high

another high at  and

change this High here is at

this High here is in

so you say well is that more in line

with the bullish range or the bearish

range well the heights are not getting

into the s or s so it might be a

little bit weak but really isn't in uh

in this range here  to  is a little

bit higher than that right it was 

uh  here so wasn't quite as far in

the bullish range as we might desire but

it really wasn't that low either to be

in a bearish range right the lows here

this low is um

this low

here is   so   they're not down

in the s and s so you'd probably

look at that and say it's not in a

bearish range at all but maybe it's

weakening up in the bullish range okay

that's SPX let's look at something that

we know is already weak right we're

going to look at the Russell

now in the Russell  it it's had

kind of a tough time this year let's

start out here on a month chart on this

nemon chart I'm gonna actually get rid

of our DMI as well here because we're

not using it for any purpose right now

so as we see the russle  when it

started having some uptrend finally then

the Peaks and the trough started to move

to a higher range okay this number is

that's more getting us to a bullish

range but not super high yet we've got

  again

okay so if it was still in a bearish

Range it would be  to  which is

actually kind of where it's showing up

uh so interestingly enough the high

point range did get into the bullish

range but it took a while for the index

to really catch up there the lows okay

when it came down and it started putting

in this low sometimes people wonder well

is it that strong of a pullback or not

you know let's look at what these low

points were here as okay so there it's

above a support area but then the next

low is at  this low down here is at 

so finally it started to get into the

lower ranges so that's another way that

you can use RSI again with an index or a

stock whatever you want to use it on

okay to determine hey is it trading in a

bullish range or bearish

range okay let's go to the Next Step

here we're going to put in some new

trades here we're going to consult the

RSI on these trades okay uh are we going

to have it as part of our rules somebody

could you don't have to okay uh but

let's look at our first example here

we're going to go

to First

Solar First Solar on my list here and

let's maybe just take that back to a

three-month chart uh see what's going on

with it here so as far as the price goes

you can see nice popping action a flag

pole right that straight vertical move

up and then it has some consolidation

now it's nice if the consolidation

doesn't last a long period of time you

know five  to five days is ideal

sometimes it stretches to eight days

this one actually looks like when I

counted it was  days so some people

might be going H it's going on a little

bit why you know a while we wouldn't

want it to go on much longer than that

but sometimes we don't get Perfection

right the price pattern doesn't

necessarily uh match up with whatever is

ideal so we we kind of look for that the

one thing here with this flag is that it

didn't retrace very far down the flag

pole okay and that's what we want to see

we just want to see a little bit of a

pullback if it goes down more than /

to / the way back down the flag pole

then we're going to say a that that's

not a a good flag breakout we want it to

stay up and nice and high in this area

okay what do we have

today break out of the flag okay now

some people will use that as a bullish

entry signal won't they uh RSI let's

look at RSI here uh the high point here

on the RSA is  is that in a bullish or

bearish range definitely in a bullish

range okay price was pulling back and so

it's not uncommon to see RSI be a little

bit lower as well in that little

pullback now what's interesting here is

it came down pretty close to the  and

is bouncing up off of that today all

right so uh indicators are they strong

yeah they they are technically quite

bullish now when we see a a flag and I'm

just going to kind of collapse these

zones a little bit here we can take the

height of the flag pole to approximate

what we could possibly use as a Target

okay so I'm going to duplicate the

drawing I'm going to grab it and you

could put it in one of two places for a

more conservative Target you could put

it down here at the line of where you

see the bottom P part of the flag okay

that would be more conservative if you

wanted to you could put it where you see

the breakout that will give us a little

bit more uh of an aggressive Target now

for our purposes today I'm actually

going to put it back down here at the

bottom of the flag range give us a

little bit more of a conservative look

there and that looks like it ends at

so the target based on that is about

now I'm going to write that in here

that that is the target if you wanted to

use it for a Target trade let me come

back let me check your questions out

here in the

chat

um I think that's just might be some

commentary Sim says it could be a flag

or a head uh head forming after a

shoulder I think maybe that was on SPX

when you maybe had mentioned that

Sim

um okay I think we're in good shape here

I think we just have some commentary

going

on all right so let's go ahead let's put

in our first trade using the RSI kind of

Consulting of it you when you have a

price pattern like say a flag or flag

breakout or triangle breakout typically

they're Standalone meaning you don't

consult with anything else you don't

consult with an oscillator you don't

consult necessarily with a moving

average you're just basing it on price

only okay uh could you consult the RSI

you could but really people using

patterns are just going to focus on the

pattern okay

so we're going to have our Target there

at  where would we put a stop Well

we'd want a stop if it breaks down into

this area uh in the flag consolidation

area yeah we want to have our stop in

there so I'm looking at this and I'm

seeing

about where did I put it about  is

what I was looking at earlier today so

um I had put down

um as our stop price

that's going to be our stop

now we can position size which we

typically do in our class we don't want

to buy more shares than what we could

and what I did is I took the difference

between what our stop price would be let

me Mark that as a stop and the current

price of the stock so let's use our

calculator for just a moment and we'll

say

. minus the stop to

okay that means we're taking on

risk of

$. now some of you might go that's a

little uncomfortable that's you know and

it might be to some of you this is an

incredibly big

Target and um what somebody might do

after the initial entry uh maybe say the

stock continues tomorrow then they might

consider moving their stop loss up a

little bit below say whatever tomorrow's

low is uh or they could go a day back if

they wanted to right which would be a

little bit lower than this low but for

the flag itself uh we're just going to

put it back down in the near the bottom

of the range for our initial okay so

we're going to position size based on

that we're willing to risk

$ in our paper money account here

example account so we're going to take

divide that by  which is our

risk per trade that says hey you could

do  shares okay so we're going to do

shares we're going to put in this

target we're going to put in this stop

as our initial positions here right

Mouse click we're going to say buy

custom with Oco bracket so we can put in

the Target and the stop we're going to

change our shares here to

click and Link those up

together and then this first first one

is intended to be your target you're

going to see that it's a little limit

price and so yeah we're going to stick

our higher price in there we're going to

stick in

and that's just a little bit shy of

the top of that maybe because it's so

aggressive you might say well I'm going

to go down to  or . absolutely you

would make whatever adjustments that

you're comfortable with for the example

trade we're going to make both of these

good tell canceled and this second one

is really in going it to be your stop

loss so we're going to put in there 

that's our stop we're making both of

these good till cancelled remember on

the stop it'll trigger that market order

and Market orders aren't guaranteed a

particular price the idea is to get out

quickly if the stock goes to this low

price   or lower all right we're

going to hit our conern uh confirm and

send it's reminding us there's not a

price guarantee on the market order and

we're going to submit

this and looks like we got filled right

now little bit better than what we put

it in for which is nice kind of gives

you a happy feeling when it does that

all right let me see if there are any

others questions

here uh RI says how do you get a a hold

of our notes um I am not allowed to

really post any of my notes okay so you

just want to you're free to take all the

notes what you want okay so you would

want to put in the Target the stop you

know whatever pertinent examples there

are there like if you're trading along

in your paper money account these

example trades okay so

um go ahead make as many notes as you

want regarding this RSI I'll also put a

link into it last week when we started

this discussion I'll put a link in the

notes to that webcast so that that might

be an easier an easy way for you to find

it or go go to the archives now if

you're subscribed to our Channel getting

through the archives is really pretty

slick okay if you subscribe to our

Trader talks and you can just go down if

you haven't done this yet click on that

blue YouTube logo down in your bottom

right corner you click on it that'll

subscribe you to our Channel and then it

makes it easy for you to find our

information find what's going on if

you're working off a

playlist right getting started with

technical analys is you could go find

that

playlist and go through it if that's

what your purpose was some of you are

looking for more recent classes and so

we'll be posting some of those recent

classes and you'll also see what's

coming up next which after we finish our

getting started with technical analysis

we'll be exploring thinker swim Brent

will be up next with that webcast okay

so it makes it easier to kind of find

what you're looking for specifically if

you're subscribed to our Trader talks

Channel okay just want to point that out

uh one other thing let's see here there

was another question I think I need to

address Sim say a quick idea would have

those things available in the video's

description it also help with

discoverability yeah you're ABS the um

the links I absolutely can put in the

comments okay I can put that in the

notes for the for our show um but notes

along with the trades we couldn't uh let

me check you know I'll check with um

I'll check and see if I can post

something similar to what I put in my

notes on the side uh depends on what the

data is but

typically um they want you to be able to

just make your own notes in the way that

you understand okay but I will leave

those those notes up in the scratch Pad

so that you can see what I've written

there okay uh a summary of these

principles all right see if there's

anything

else all right thank you Lee for posting

the playlist in there as well uh that's

our class playlist okay next

up calc uh let's collapse our calculator

let's come to my watch list here and

next one on the watch list uh that I

just can't ignore today is

Apple okay

Apple had some news last night that they

were going to partner with a company

called open AI which is a privately held

company uh for their artificial

intelligence and if you remember earlier

in the year um I think maybe even kind

of in this area where it was going kind

of flat it was like everybody was

announcing their partnership with their

AI partner and what they were doing and

there was all this Buzz about it well

that's why people are uh in Market is

looking at it you know that maybe today

it has almost twice it's an its regular

daily volume and you can see big strong

candle here now today the stock is up

six almost  and a half percent there

may be some of you that are like H  and

a half% I don't know maybe I'm be you

know chasing it at this point so one way

that you could look at it and this is

how kind of I did some on it earlier uh

this is an all-time high with the split

adjustments in it okay about four or

five years ago there was a a four for

one stock split uh back in  there

was a seven for one stock split okay so

split adjusted this is a new all-time

high but we could look here and we could

say well okay that could be some

short-term resistance there and boom

today it broke through it if we want to

consult with the RSI would say oh look

at that move it crossed above the  uh

and when it when it was low it only went

to

okay so we might look at that and say

okay we're going to consult with the RSI

is saying things are bullish uh this

area here

you know that's kind of where I

would see maybe the short-term

resistance being and and somebody this

is going to be a little bit subjective

where you would see or feel comfortable

that it really is breaking out you know

if it's really close to the resistance

line ah you're not so sure right but if

it moves a decent way up and for

Simplicity let's say $ let's say you

felt comfortable at $ which is near

where my mouse is that it's broken

resistance okay let's see how far past

resistance it is then and see if you

know we know it's going to be something

less than

. but let's go  minus

so that's going to be

$. let's divide that by our $ okay

the breakout Point let's see how much

it's beyond that point now okay so it's

about . so not quite % beyond that

breakout zone so some people might

consider saying well maybe I'm not

chasing it so far some people might say

you know sometimes in these big candles

there's a little bit of a pullback and

so somebody might look for a pullback

there the midpoint of a large candle

like what we're seeing here many times

not always but many times will act as

support as well so if somebody was

feeling a little bit uncomfortable maybe

they were chasing it at this point they

could look for it to maybe retest the

midpoint they could look for it to come

and retest here there are no guarantees

that it's going to go there right uh but

if you know you could have that approach

technical analysis you you can kind

of

determine your comfort level depending

on what you've analyze what you see on

the chart for our purposes today we're

going to go ahead and we're going to say

all right our stop position on

Apple is going to

be oh I might not have calculated that

yet on Apple uh let's use the  area

against wanted to say hey I think this

thing is continuing up and if it doesn't

I want to stop myself out of the

midpoint somebody could do that let's go

a little bit below the  our

breakout

Zone and let's just

go because it's such a big candle let's

just go % below it okay so

time

it's going to put us at a stop at

around 

all right if somebody wanted to they

could uh use this as a a Target trade or

they could just say kind of trend trade

this and just put the stop loss in

that's what we're going to do on this

this one does not have a Target but we

are going to put in that stop on

Apple at

well  I should put the change

in there all right let's do it got our

Apple

up and let's

do right Mouse Click by custom with a

stop so we can get that set up from the

beginning oh I didn't do my shares okay

we got to do the number of shares so

got a couple of extra numbers

there minus current price

gives us about  of risk for

share we clear that out and say  ided

we shouldn't do more than  shares

in this account okay so we're going to

do  shares here take our  we're

going to change that to a seven give it

our  we've got our current price and

then we're just going to put our

stoploss price in here we're going to

put

in uh 

. okay it's about $ away make sure

I type that in right I didn't so let's

get the number in there right

oh I did this uh let me try it one

more time I think I've got a fat finger

here okay uh it should

be stop of

there we go good tell cancel

triggers Market order so we know uh the

price isn't guaranteed we're just hoping

to get out get quickly filled if it goes

to this price or lower that point it

would be breaking that support area that

really is quite a waste

down all right let's go ahead let's put

our confirm and send we're going to send

this off as well now let me take a look

let's wrap up on any questions that you

guys might have

here um

okay Sim it looks like some of you guys

are helping out there which I love to

see yeah Tru say Elon must be extremely

mad at this

chart I don't know got a rant I guess

right all right I think we have

captured the questions in here if you

have anything further feel free to chat

it down I wanted to answer it or Lee

who's helping me in the out helping me

out would want to help you with it okay

so just kind of our summary rules here

RSI can help us with spotting the

Divergence right that it's not following

along what price is

doing we can use it uh and see if there

is a u failure swing right if it bounces

or if it's above  and doesn't go

higher on the RSA rating or if it's

below  and the next move it doesn't go

lower those are both failure swings then

we can o look for uh a trend line break

in the RSI that corresponds with a price

break above okay so it can be kind of

used that way and then we introduced you

today to using

ranges for whether they're bullish or

bearish okay and those would be the

ranges we guys we we accomplished quite

a bit here today I'm happy about

that uh we really focused on the RSI

just summarize the principle there we

have two new trades an apple trade and a

what was the first trade that we did for

solar that nice big flag that we saw

there uh really that was our Focus was

on the RSI of course we did some trades

as well all right now coming up next as

I mentioned will be Brent Moors with

exploring thinker swim so those of you

that maybe have a good grasp of thinker

swim want to get in a little bit deeper

that's where the exploring thinker swim

comes in it's an intermediate level

class and Brent does just fabulous job

with that class all right you guys it's

time to Turn You Loose Brent will start

here at the top of the hour I'm just

going to look real quick here for any

little questions just as a reminder if

you haven't subscribed you'll want to do

that so it makes it easier to find our

webcast all right we'll check back with

you soon byebye