Hi there, I have been reviewing Thor's daily recaps and it is about one of them. (It's only about 3 minutes so if you have time please go ahead and watch it too) I'm a bit confused about it and if anyone could clear it up it would be appreciated. Thor said the stock touched the level ($30.9) 3 times and it is an ascending triangle so he went ahead and placed an order around 15:13 for long. To me (as a newbie), it looks like the stock is rejected by that level and went down to below VWAP, and I might take it as a false VWAP breakout. It kind of looks like an M shape on the 1 min chart which is often a sign of a false break out. He did say he was a bit worried when it went down a bit but as he also said it was supported by the 50MA and he added more. I could see it was supported by the 50MA (and the 9 on the 5 min chart too I suppose) but to my newbie eyes it also looks like a descending triangle (15:15-15:22, rejected by VWAP at 15:20, also the 9 and 20 above on the 1 min chart). Also, there is a red big reverse hammer around 15:14 on the 5 minute chart (although without much volume). Thor says he looked at Level 2 and the tape and confirmed it was up-trending and yes with that info I understand it would go up rather than go down. Also, with the 5 minute chart, I understand it looks like a clear ABCD pattern too. But I cannot be so sure it would go up just looking at the chart patterns especially on the one minute chart. Even with the 5 minute chart, it seems to me there are too many wicks above. So basically I am wondering, 1: Why is it more of an ascending triangle than a VWAP false break out? In other words, how can you see that the stock would go up where Thor placed his initial order? 2: Without the level 2 and tape information, are there more sings of the stock going up than down where he added? Thank you!

Hi there, Thank you Bailey again for your awesome explanations on Thor's trade I asked about. I read what you wrote carefully and it made sense a lot. I did not think about the time frame (afternoon) and, especially as a newbie, to think the 5 minute chart as the new 1 minute chart is a great way to understand the pattern. So now I understand that the big picture is the trend being going up, but there was a minor chance of reversing which I saw in the 1 minute chart as double top and wicks in the 5 minute chart. There could have been the case (or there had been more chance of it) if it had been happening in the morning, but since it was happening in the afternoon (where the trend tends to continue) and with the fact it did not break the support (at least for a while), there was more chance of keeping trending up. Please correct me if my understanding is wrong somewhere. I would like to thank you again, Bailey, for answering this question. The hardest thing in learning trading so far for me is that there is no right answer. A "right" trade could become a loser and a "wrong" trade could become a winner and as a newbie it is difficult to tell which is the case. That's why moderators' recaps are valuable and I watch tons of them but occasionally (or often to be honest, ha ha) I don't understand them. I love Thor's recaps but they are sometimes a bit too difficult for a newbie and I get stuck not understanding them. Anyway, to be able to ask this kind of questions here and someone would post with answers of this quality is really great for me. I know it must have taken you a lot of time to read my question, come up with answers, and write them down and I really really appreciate your time and effort.

IMHO try this for a stock and see if u get a better pic 1. Add a T&S widow between chart and montague 2) On chart, config it to show BID/ASK and remove LAST PRICE so its not too much being displayed. 1 min chart only. This will also give u feel of spread easier IMHO. 3) When watching tape focus ur eyes on topline T&S while ur peripheral vision is on chart to left of T&S and montague on the right. Try i c if u get a better feel.....LAST PRICE will be in TS

8/27 Back in the Gold & Silver trade: $GDXJ, $GDX & $SLV WL: Maxar Technologies and Dollar General (on a pull back)

hi @Stefan Tanev i had this same conversation with another member this week. TWS has some Global settings that will be applied on every chart by default accesible via File Menu in the main windo...... Global Settings >> Charts >> Settings >> Prior close Every single chart u open in the platform has override settings via the View Edit Menu >> Chart Properties ... You will also find there a “Prior close” setting that will only change that chart only ... Double check those 2 and for sure your dashed prev day close level will show up on the chart.... Besides that, @Abiel shared with u a post I update regularly with all the settings, mov avgs, hotkeys, levels etc ... hope that file can help u to setup a starting point with TWS Regards, Paul