After a little turbulence, we are now about to hit our target on JPM. The vertical spread I took out is about to pay out a 1:1 and depending on the movement here, I might look to get a 2:1 out of the options.
I still regret not taking that awesome set up in KDP but, this is giving me those vibes and I really think it is worth a long. I am looking to put my risk a 1/4 of the ATR below the most recent swing low. Shooting for a 1:1.
After an Anti played out perfectly we are now followed up by a pullback setup in ORCL. The NQ as a whole has been losing momentum so I think this trade sets up well with the current state of the market as well. I will look for a 0 line entry or a second entry short to get me into this trade.
JPM has recovered from earnings and some strong downward pressure. Its looks like an Anti setup on Friday and price continued to consolidate near that level today. I will be looking to swing this trade to the upside for a 1:1.
We closed the day just 2 ticks from the open. That is the definition of consolidation! There was one setup to speak of and I think it was a pretty high probability one. The opening gap acted as a magnet to give the setup more conviction.
While technical have us in the daily trigger zone for a another bearish leg, I think future contracts and overall market sentiment is set to consolidate. There is some confusion amongst investors but, with a bearish bias overall. A break and close below a previous day low will help technical to begin a second leg.
Since there was not going on much between the two days, I decided to combine the two days into one. Sorry for the delay overall but, we covered the trades I took and the setups ups I noticed in both days.
It sure seems that way. 5126 was the level where buyers would become sellers. It took sellers to become buyers in the first half of the week. Now, I think the market is weakened. Pre-market analysis will be key for trading in the next couple of days. Not a ton of setups today but, just enough to keep the degens going :D
While I left some on the table, I am happy with my wins. In the last week my win percentage is sitting around 90%. I have avoided over-trading and focused on doing things the right way. today, we saw a bunch of setups. Most worked but, some did not. The market has been very technical lately with very little tricks.
So many great setups today as I think sellers from last week started buying back into the market. I took a couple of trades today both winners but, there was definitely some money left on the table today. All in all a super technical day.
We talked previously about a bearish price target of $48k. Today, I give you more insight into why that is still possible and I also give you a few more scenarios but, one thing needs to happen first.
All signs point to a pullback in the market. I think JPM/AMD and some other big names might even be our leading indicator. The only real pullback target I could come up with is a 50% retracement which is fairly common in the market and within trends themselves.
We saw another down-trending day with some great setups. It was an awesome week to be day trading. I hope everyone had a great time. There is one red flag I see in the market, that is that sellers never became buyers on these big down days. That either means sellers are really confident of a continuation or they will be taking profit at some point next week.
Today was a great day to trade. Prices were both up and down in a trending manner. Some might call it a trendy day lol. I cover 3 trades that I took and why I took them. Excuse the distractions today, lots going on in my house. LMK if you have any questions regarding the setups.
This is nothing new TBH. Strong work on the weekends pays off during the week. Today we had another downward trend day that saw sellers become buyers and then back to sellers again trapping bulls. This should add conviction for an overnight leg down. Several pullbacks appeared that would've paid off today as well.
Intro I tried to talk through stop-loss placement in 3 minutes here. I do not think justice was done. So let's take a look at exactly what I mean when I say "Let Your Trade Cook". Proper stop-loss placement is critical to a successful trading plan. Don't Place Your Stop Like Everyone Else You are guilty of this, if you have been stopped out many times just...
Here we take a look at trading pullbacks using the Keltner Channels. I cover the initial setup, the types of entries, and trades to avoid. This setup contains 3 parts: The channel touch The Pullback The Entry The Channel Touch Here is an example of the beginning signal in our setup, a band touch. The top and bottom bands represent the ATR (Average...
This video goes into depth on the types of market structures and how they happen. Ranging -> Breakout (Spike) -> Channel (trend or a ranging trend) -> Climax. The market moves in these repeatable patterns over and over and over again. If you can diagnose where we are in these cycles then you can harness this skill to improve your trading.