so we're checking out the also common pump and fade check out this move here
on PT ie how it ran up big and how its been fading off all day so if you're new
to this channel you want to learn more about day trading go ahead and hit that
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we're taking a look here at Pt ie this morning made a big move PT ie made a
really big move from the four dollar area up there to 650 it got halted once
I made a couple trades on it made some good money on this trade but there's a
lot more money to be made really on to the downside here so PT ie
why this did what it did so basically this big move here from the four dollar
area up there to 650 you can see just nothing but green green green green
green of fomo was kicking in the emotions were kicking in people wanted
to be a part of this move everybody was buying we get through the 650 area and
it's like oh oh there's no more buyers it gets halted there at the 570 area it
opens up it explodes above $6 comes back down finds that support there at 570
goes up one more time hits 650 and now it's been just selling off all day long
I didn't have any shear just short here earlier and also I was pretty happy with
making profit on the way up I wasn't really thinking about even shorting it
on the way down a couple people in the chat room talking to how they shorted it
there at the six dollar area and how they've been riding this baby lower all
day so this is the five-minute chart you can see got really really extended there
off of nine EMA here on the five-minute chart this whole move right here was
extended had a lot of volume filling in had that halt there had people chasing
it get this big move up there above $6 650 that half dollar there at 650 acts
as resistance it starts to pull back and comes back down here finds this six
dollar ear you can see the bottom of these candles there at the six dollar
area the bottom use wicks there at 590 kind of bounce and bounce amounts and
not making a move and finally not going a new high of day so at that point is
like oh this is this is probably gonna be over here and we'll see what happens
so once that was kind of confirmed this was not gonna go higher you can see it
pulled back down there to the 570 area which was that previous support there
570 it bounced one more time off five seven you got these two green candles it
gets back up there to say 20 and which this was a high earlier 620
did not make it above these candles there at 6:20 and at that point it was
definitely a key area to watch for a short entry if I would have been
shorting this I probably been looking for this 570 area to break or even on
the bottom these candles here at the 590 area so this 590 area was the support
there right below that $6.00 from earlier and we're thinking okay you know
that 90 ma there the 90 may breaks we've lose that support and that's what
happened to get this big crash from the 612 area down there to 556 so right
there that was almost a 60 cent move on that one five-minute candle and you can
see the start and sell off selling off just riding the 90 ma lower riding the
20 on down so now it's down there to 493 right there 486 so this was a beautiful
short opportunity oh this big move up going up you know it's very hard at
times sometimes sometimes you get into it you take profit fast it explodes
higher and higher looking at the stock like okay we're up here to 650 we're not
going higher we're having trouble people aren't
buying they're not pushing this higher there's a lot of shorts piling in there
at 650 area all these shorts want to pile in here at the 620 s if we do start
to go lower this could be a really good short and you can see how this worked
out there you know shorting there at the six dollar area shorting a 620
resistance we get this break through the six dollar area go short there break
through the 90 ma right down there we get down to 550 and then moving lower
moving lower all the way down under five dollars now 485 so on the way up you
know clocking in 30 40 50 cents on the way up kind of getting in here getting
any ride for the halt making some profit they are locking that in but I think I
would have felt a lot better shorting this on the way down cuz I'm thinking we
just had a huge move here we jumped up two dollars in about 30 minutes so
there's gonna be a profit taken there's gonna be people selling this it's gonna
be a good chance it's gonna start crashing down so this whole move right
here is nothing but emotions just emotional traders jumping in there
trying to buy the move here obviously I was one of them because I was buying so
I was looking for that move higher as well but I was looking for more about
the you know break over the whole dollar here at five dollar area and then right
out of this hall jumping in there once that started to turn and get that move
over the six dollar area so everybody who was buying here the above six
dollars they're gonna be sewn they're gonna be taking profit there's gonna be
a lot of sell here if this can't get hired this is
like what happened didn't get above 650 so there it goes lower and lower so
things to look for if you miss out on the move here if you miss out on this
big move on the way up or if you don't walk in enough profit you see it like
okay it doesn't look as safe it doesn't look that good and you don't lock the
profit in there you can make profit on the way down so you could have easily
shorted this the six dollar area 620 area shorted there once this did not
make new highs and then wrote it on down there to the 480 area so beautiful move
here on PT ie on the way up on the way down I was happy with the profit that I
made on the way up I might have shorted there at the 620
area it wasn't showing there so I was done for the I went and did other things
I went to lunch but Pt ie beautiful move here on the way down really you know
getting in there 620 riding this on down there you know getting in there at 6:20
riding is down to the five dollar area up a dollar 20 right there alone then
it's down there to 480 you know so you know I'm almost a dollar fifty per share
if you just sort of here at 620 area I'm really just a beautiful short really
easy because you can see this thing just went lower and lower never made new
highs a couple times popping up there to the nine till it's wanting EMA this
keeps on going lower a couple little balances here as it went down you know
Schwartz covering causing a little bit of buying activity there but really does
nothing but selling on the way down here PT ie big move up and steady move down