Hey. What’s up guys. So I’m ending the day nicely in the green here by just over $3,000 on a trade this morning after no trades on both Monday and Tuesday. It’s definitely been a little bit slower for the trades in large caps, but it’s important to remain patient and just wait for those obvious opportunities to present themselves. And that’s the point in time when you become aggressive and it makes trading much more simple. So let’s take a few minutes and break down today’s trade in the recap.

All right. Good afternoon guys. Time for the recap here of this morning’s action. We actually had a pretty decent day, nothing too substantial, but a green day nonetheless. A solid green day, just over $3,000 on ADSK. Now I didn’t take a trade on Monday, I didn’t take a trade on Tuesday. It’s been some rather slow action for large caps, really not much to choose from. And I just tend to sit tight when that happens because I just really like to wait for the obvious, easy money to be put in front of me and that’s where I’ll become aggressive.

Now this morning on ADSK we actually had a pretty decent setup on this and I was looking for a big continuation move. And I tried to get it and I got a little bit out of it, got stopped out on about half of the position, but we were able to lock up a decent trade, actually two trades on this that we’ll talk about. So, decent green day, just over $3,200 on ADSK. Now what we had on this this morning was as strong gap down. We were breaking a pretty significant trend line here, a rather short term, but it was well established in that it started down over here from this last relative low pivot. All right, this last relative low pivot, which also correlated with this macro pivot in through here around $120 that’s been a big level on this stock.

So I use this as my initial anchor point and use this recent consolidation in through here as my second anchor point. You can see when I extend that line out we get a nice following of the trend over the last several session. So we knew this line was well established, it was important. If we broke that we’d probably see lower. And then we start to get into this pocket here, which goes from $137.50s down towards the macro pivot of $120. Now the reason I use this a pivot here is because I looked closely on this and you can see there’s a bunch of price action in here that was telling me that this was a decent level in the past. You could see all these days that you ran into this level. And once you were able to confirm above it and go, it really made a nice move. So usually I don’t get this micro on a stock, but the fact that we had all these days that were hitting up against this level here I wanted to be aware of it at least.

So basically $137.50s down to $120, that was what I was looking for. Now coming into the open we started to setup really nicely. We had a little bit of a pre-market low that I was kind of keeping an eye on and through this $132 level, somewhere in through right there. And what I wanted to see is a move below that before I started to get short. Because you obviously had a base in through here and that was something that you got to be careful of because those tend to catch support every once in a while. When they do, they like to run. But I like to wait until they break the low and hold the low before I start to take a trade.

So if you look at the fast time frame on this you’ll see that at the open we had an initial move up, a relief move, which is okay. That’s what we want to see because that tells us that the stock is weak, if it fails its initial move up, starts to turn over. These sometimes work out to be some of the best continuation trades because it’s telling you right away that the move is really weak to that one s