This *RUG PULL* Strategy Could Make our ENTIRE WEEK! transcript

Oh, it smells like a rug pull's coming soon. Lots of clues right now on the Nasdaq and the S&P. In tonight's video, I'm going to make sure we all have a road map to make a killing on this rug pull tomorrow morning on the live stream. So, charts are ready. The game plan is easy. We got one more day left this week to make our money. Let's dive right in. Get these charts all prepped up, make some more green on the screen on Finally Friday tomorrow morning.

Nasdaq's ready. Oh, the S&P's always ready. I've got four clues tonight telling us where I think the money is made tomorrow. The first clue, it's right here on the hourly time frame. I like to use the hourly chart for directional filter. And it's pretty easy to see right now the buyers have taken control of momentum here on the Nasdaq right now. But there's two really big clues right now on this hourly time frame. First clue is this spike and channel.

Now, spike and channels, we spike up, we pull back, we start channeling. If you have any experience with spike and channel patterns, you know the money is made below these swings. And look what's right below. Oh, that gap. 29, 401. Keep that number on your radar. We'll talk about that a bit later on in this video. One more clue though, is this big breakout leg. Anytime we see a range and a breakout, the breakout leg is a measuring leg.

So, what I can do is take that leg, it puts us. It puts at a big time level of resistance up overhead. Now again, I said earlier, I'm looking for a rug pull right now. If we keep on grinding higher though here, do not be surprised if that triggers that rug pull. Now, that may not be tomorrow. You know, tomorrow's a Friday. It may be early next week. So, as we climb our way higher right now, boy, that could be the big spot for the rug pull.

So, just a side note there, if we do keep grinding higher on Friday morning. So, the hourly chart gives us two big clues right now. But, the hourly chart will not help us time the entries. Let's now drill down to our tick charts, our faster time frame. This is where the money is made. Tick charts make entry timing a whole lot easier. That's a 4,000 tick chart upper left hand corner. And by the way, that moving average right there is the 21 EMA, in case you're watching for the first time right now.

Boy, this is where the rug pull starts to come together. Because first clue right now, look at this sleepy grindy move right now. Why would this grindy move be a big rug pull clue? Well, because we just spent 2 weeks going lower. We spent 2 weeks, if not more, going lower, right? So, if the bears, if they were beat, this would not be stuck around that 21 EMA. If the bears were beat right now, this would be squeezing.

So, this tells us right now the bears, they are hiding right in plain sight right now. The bears are basically accumulating as we go higher. If they weren't, we'd be separating away from that moving average. That's one huge clue. Second clue is that range right there. Remember, ranges, they like to rotate up, down, up, and then down. Look at the rotation when I zoom in closer right now. You can see the amount above, the amount below, the amount below, the amount above.

We just took out that high. So, do not be surprised at all if the amount above, the amount below, oh, where does that put us again? Right, we saw that number earlier, 29 401, that juicy gap right there. And where is that gap right there? It's on a breakout pullback zone. Now, you know this if you're with me on my live stream, these are unfinished business. It's not an if, guys, it's a when. Anytime we see a range breakout, again, it's not an if it'll happen, it's a when will that happen.

I think this grinding move right now, that pendulum swing off that range, this just screams at me, get ready for a rug pull. Now, rug pulls can be very, very scary. So, it's really important we condition ourselves, be ready for it tomorrow morning. For example, one of my favorite trades on our live stream is a two-legged pullback. Think about one, two, three move, right? 1.382 1.618, a really scary rug pull. I want this thing to drop like a brick.

Make it really scary tomorrow morning. Make it so hard going lower that everyone thinks it's a reversal. It's not a reversal, it's pulling back to fill a gap. It's pulling back into the breakout pullback zone. Right when it feels like a reversal, let those bears get trapped in, squeeze those stops, and where's the goal now? The goal's to go all the way back up to retest the high. So, on the way back to retest the high, look for separation.

What we didn't have over here. If I see separation above that moving average, higher high in price, I can add to that winner and go right back to retest the high. This bear trap and add-on could make our entire week, our entire month with a nice timed entry on a rug pull. Now, we oftentimes see when rug pulls happen, we'll get a nice juicy bear trap here, and as I do all the time on the live stream, I always look at the first leg low right there.

That low right there is always a good target. Well, something that happens is it's such a strong run down, we see another leg lower. Another, what I call 1 2 3 move. Think 138.2, think 161.8, 200% extension. Again, real scary. But, the bottom line is all that is now is a retest. Remember, it drops. All that strength going lower, it'll pop up, retest, and then resume the overall bullish trend. So, promise me this, guys.

Promise me. Do not let that move lower fool you. That is a gift from the trading gods. It really is. As it rolls over, we trap those bears in. The best ones go even further below the low here. It sucks all the rookies in. We know it's a retest trade, and we're buying right into those stop losses. I'll tell you, I love love the rug pull trade, love the retest trade. I love the retest trade. We'll take whatever we get tomorrow morning on the live stream.

Now, I'll be trading this rug pull strategy tomorrow morning in real time. I'll be sharing screens, calling trades. That way, you can learn this stuff and trade it right along with me tomorrow. So, if you're not making the money you want right now, if you're making mental mistakes, missing good trades, guys, get with us on the live stream. That way, you can time these entries properly, avoid all the mental mistakes. That we can start making this money right along with us.

What I'll do, guys, is I'll put a link down below description of the video for tomorrow's live stream. I'll put a pop up here for you. Upper right-hand corner. Pause the video for a second, and grab that little link that popped up there, upper right-hand corner. Cuz, guys, trading is so much more enjoyable. It's so much easier. We do it together on our live stream. You'll know where the best entries are now, how to hold those runners longer, and you'll finally get the confidence and consistency you're missing in your trading.

Guys, I have 18 years experience every morning on my live stream. This live stream is the missing piece you've been looking for. So again, grab that link down below the description, or grab that pop up there upper right-hand corner. I'll see you tomorrow morning 8:30 Eastern time. You do not want to miss tomorrow's live stream. In the meantime though, let's keep prepping for tomorrow. Again, I love the idea of the rug pull, but hold on though.

Hold on. That's a wedge right there. Now, wedges are our nemesis. I shouldn't say nemesis, but they're they're the most difficult. They are. When I see a wedge like this, I always go, "Ah, crap." Cuz wedges are FOMO. It's emotion involved, right? We got Warsh speaking tomorrow morning. 10:00 tomorrow. We got K. Warsh, right? K. Warsh speaking at Jackson tomorrow. The Think about wedges is the money is often made below these swings.

Now, I love gaps on our live stream. There's a gap right below that swing at 29 493. The bottom line is, you know I want that rug pull. That's the big make our entire week paycheck potentially tomorrow. But if all we get is a shallow pullback right now, remember, we can only take what we get each day. So, how would I trade this though if all we get is a shallow pullback? Cuz again, sometimes these wedges sometimes they're so stingy.

You know, they won't give us that deep pullback until we get to where? Until the wedge comes together. Sometimes the pullback won't happen until it tightens up like that, then it drops. So be aware of that. In the meantime though, under prior swings, what do we do? We look for technical bear traps. Technical bear traps. Bears once, higher high, bears twice, below that low. It is really important that you notice the difference between these two setups.

This is a technical bear trap. Remember, I'm buying high right now. In that example, I'm buying high, right? I'm buying low with a deeper pullback. See now, that pullback right there, I can be a lot more aggressive on, right? That's the easier pullback, a lot more forgiving, right? The risk reward is so good. Everybody wants that trade. But not everybody wants that shallow pullback. So, shallow pullbacks are not as desirable.

I got to be on my best behavior. I got to buy as low as I possibly can. Now, on this one, the target's easy, right? Back to retest the high. And again, there's that breakout pullback zone we saw earlier on the hourly chart. I would think this area, again, because go back to the hourly chart, I would think that area up there, that breakout pullback zone, 29,800, 29,786 up there, I would imagine, right? Yeah, 786 right there.

I would imagine that area is the objective if we keep grinding higher. So, if we do keep grinding higher, keep an eye on that rug pull. And again, I'll help us navigate this tomorrow morning on the livestream. But what about the S&P? Is the S&P also screaming rug pull? Not as much. Not as much. Let's go to the S&P right now. S&P is similar, but it's definitely a bit different. I'll talk about that in a moment here. But the first things first though, don't forget, we got K Warsh tomorrow, right?

I miss J Pow, by the way. The name J Pow just rolls off the tongue. K Warsh? K I'm kidding with you. We got K War, K Warsh tomorrow. That sounds horrible. I got to find a new one. Let me know in the comments below, what is the nickname for Kevin Warsh going forward, because K War doesn't exactly roll off the tongue. All kidding aside though, we got Warsh 10:00 Eastern time. Remember, it's Jackson Hole week right now.

This is just like an FMC announcement. It really is. Everyone's waiting on what he'll say tomorrow about Iran, about inflation, about the new QE, the the the don't call it QE they announced earlier this week, right? Papa B sent announced the don't call it QE this week here. So, everyone will know tomorrow that will be a tradeable event tomorrow. All right? Don't be don't miss that tomorrow morning at 10:00 Eastern time.

Kwarsh Kwarsh Kev- Kevwarsh? I don't know. Let me know below. I'm taking some ideas here for the new nickname for our new Fed speaker. I'm I'm kidding me, though. He seems like a nice guy, though, right? He does. Okay, back to the hourly chart right now. Again, buyers have control right now. They definitely do. Do you see that spike in channel? You can see it right there. It's not as obvious as the Nasdaq, but it's definitely there.

And we know that whenever we have a spike in channel, the money's made where? Below those swings, right? Below swings. Interesting, too, because that trend line's right there. It's also using two because that low right there did not pull back all the way to that high right there. You can't see it very well right now, but that's unfinished business right there. That low is not as low as that high right there. So, interesting, right?

So, that'd be a good spot to keep an eye on right there, 7702 half. So, be aware of that. Buyers have it right now, but again, spike in channel says big clue, buy below those swings. Now, over on the tick chart. Remember, tick charts make entry timing a whole lot easier. There's not the same rug pull clues on the S&P, but we do have a big clue there right now. Two ranges. Range right here, uh-huh. Range right there, okay, got it.

What do those do? Well, first of all, the most recent range is that one right there. What do ranges do? They rotate down, up, down, up, back and forth, right? We find triangles like that. We use symmetry back and forth. We buy low, we sell high, and because we're bullish overall right now, we try to buy low and keep buying as we rotate back higher again. But what's below us? Ah, another range right there. I said earlier, when ranges break out, it's not an if, it's a when we break out pullback.

And that breakout pullback zone lies right below that current range. The amount above, the amount below, it's right, right, it's right there, 7720. But what about the rug pull, Joe? What if there is a rug pull tomorrow? Great question. Keep your eyes on that kind of pre-Nvidia move low. One thing about Nvidia, the last couple years, day or two afterwards, they love to take back the entire move. So there's not a lot of big clues right now because the S&P, look, the S&P has separation.

There is separation on the S&P. It looks much more bullish than right than the Nasdaq does. Nasdaq still looks the bears are hiding in plain sight right there. So if we did see the rug pull on the E-mini, you know exactly where they're going, right? Remember, a lot of buyers were unable to get in back there. A lot of people were not able to participate in that move higher because it was overnight. It was post news. A lot of folks don't do that, right?

Myself included. So if you didn't get in on the way higher on this, and it comes all the way back to that low again, that's like your favorite car going on discount at the dealership lot right to your budget, right? It's like, of course, it's a gimme, right? I'm going to buy it, right? So, that would definitely be also too 1 2 3 move. Think 1382. Think 1618, right? It's right in that same area. So, I love the idea of that deeper pullback, that bear trap off that Nvidia low and that run back higher again.

If I can get that pop up and we start separating off of that moving average. Separation means strength, right? Higher high, blow that low, we can add more, move back up again. Love that idea. Don't forget too, we may roll lower, pop up and then 1 2 3 back down again. Do not forget the retest trade. We love retest trades on our live stream. The exact same game plan we said earlier on the S&P. It's all It's all in play right now.

And again, because we're so high up right now, if all we get was a shallow pullback. Now, how would I do this right now? This range is very convincing because of rotation, right? It's very convincing. So, as we go lower, let's trap those bears in right now. Don't just blindly buy it, right? Wait for those bears to commit a couple times. Then, use their stops or as my first mentor would always say, "Joe, find their pain." Right?

Think about where those bears are in pain right now and buy right into their pain, right? Put a finger right in the wound, right? Put it right there. It sounds bad, but that's trading for you. That's trading for you, right? So, trap the bears in, run that sucker higher. Remember, if there's one rule you learn today, during range rotation, we always buy below swings. During range rotation, we always buy below swings. During range rotation, we always I know broken record, but it helps to repeat myself because there's a lot to learn for trading.

There's a lot to learn. This is one of the most consistent things you'll learn ever about technical analysis. During range rotation, buy below swings. A lot of my students, they won't even touch those bear traps. They wait for that rotation and jump in on that rotation. Target where? Other side of that trading range. Now, what if we don't get that run lower, right? What if we don't get that rug pull zone going lower here?

What if we keep going higher? Cuz again, right? We may keep grinding up until we reach those objectives. Go back to the daily to the hourly chart again. Once again, think about the size of that breakout leg right there, right? There's Wow, look at that. Look at that. Wow, right to As you can see, I did not script this tonight, right? Right to that measured move. Interesting. I wonder if that Well, okay. That might be our biggest rug pull clue right now.

They've completed their measured move. Very common, right? Anytime we see a range. Look at this. Breakout leg, measured leg, right? Bounce out. Okay. So, breakout leg, measured leg. I wonder now if that will be enough to get that deep pull back for us. Hopefully, it will, right? That would be fantastic for us cuz now we're ready for it. But, if we keep grinding up, if we keep going higher right now, how would I buy as we go higher?

You know this already, right? How would I buy as I go higher? Well, what's it doing? It's rotating. It's range rotation. So, the plan would be then look for separation. And when I And when I say separation, too, by the way, I mean the pullback. The pullback pulls back and doesn't pull back all with moving average. That's separation, right? Separation of moving average, higher high, we're getting in below swings now. Remember, same thing again.

The breakout leg becomes a measuring leg that tells us now where to take our profit target on that trade. And then what's up next? That range, remember? It is not an if, it's a when, it's a 1 2 3 move, it's a breakout pullback off that range, right? So, we grab a quick scalp trade going higher here, separation. We find the breakout leg, the measuring leg, that's our ching, that's our prime bone-in ribeye steak dinner on Friday night with the missus, right?

That's that target up there. Then, as we go higher, or maybe you're a steak fillet guy, something a little bit leaner. Anyways, 1 2 3, 1 2 3 move. Remember, 1 2 3s, you'll learn this on my live stream, 1 2 3 move, some simple rules I'll share tomorrow morning on the live stream. Think 1.382, think 1.618. As we go lower, the bottom line is is think about that bear trap, right? That bear trap, that two dry bear trap and back up to retest the high.

And remember, if we run up and get crushed back down again, the amount above, the amount below, you know how ranges work now, right? You don't fall for that trap, right? You You do the trapping. You are the one with the traps right now, right? Trap those bears in. Do not fall for that for that run going lower and back up again. All right, guys. Having some fun with you tonight on the video, but again, we're all we're all serious tomorrow morning though on the live stream.

We got one more day What a fantastic week, what a fantastic month. One of the final days of the month tomorrow. We got one more day on Monday, too, so be there tomorrow morning. Grab that link below description of the video and don't be late tomorrow for the opening bell. You are wasting your time out there doing this all on your own. I am giving you the ultimate shortcut on a silver platter every morning on my live stream 18 plus experience.

Just giving it away every day on the live stream. In the meantime, guys, be well out there. Be nice to each other, will you? And you better be here next time, folks. Adios, amigos. Bye for now.