Information Technology MSFT | Looking like it will open close to significant daily level, nor far above is a gap zone. Showing premarket strength, there has been a gap up. If stock can hold above 160 & showcase meaningful demand, then this looks like a promising play to the upside.…
Year: 2022
Trade Journal | 6.14.2022 | Tue. | -$2.10
You must implement candle closing rule at levels. You keep getting shaken out of reasonable trades. There will inevitably be times when it works against you, but it will be balanced out by the times it works for you. You must exercise some sort of objective methodology. Relatively poor performance…
Charting Journal | 6.14.2022 | Tuesday
Officially in bear market territory. My First real bear market if this continues to play out. Head & Shoulders on the indices seems to have played out almost text book. TAST insight was eerily accurate. We’ve reached minimum of measuring rule, likely to see more. Utilities got absolutely ravaged yesterday…
Game Plan | 6.13.2022 | Monday
Information Technology As a sector, clear down trend, same as everything else. Looks to be within downward channel now. Wedge did form in the bast, was broken out of but momentum was not maintained. Gap down from Thursday to Friday & now looking to be another gap down today. Could…
Charting Journal | 6.13.2022 | Monday
Carnage across the board. /ES deliberating at significant 3800 level now & almost every S&P sector index has gapped down with the exception of materials, which had an initial gap down but has recovered and looked like will open at or potentially above Friday’s close. Bitcoin is dying, GXBT now…
Trade Journal | 6.13.2022 | Mon. | $13.47
Must begin using VWAP as a level. Will help keep you in trades you should be in and out of trades you shouldn’t be in. Did decently well, most of my analysis was on point, though this was a pretty clear cut market to trade. But maybe I should give…
Charting Journal | 6.11.2022 | Saturday
Created more thorough outline of Head & Shoulders patterns from now & from 2008. The similarities are eerie, as are so many technical formations & levels, at how precise they are.
Study Journal | 5.21.2022 | Saturday
Must prepare for, and build in line with, plan to scale trading when for when the time comes. What are the names I’ll be able to scale up into; that have the liquidity to accommodate my trading style at scale. What are the stocks with the most liquid option volume,…
Trade Journal | 5.20.2022 | Fri. | $10.17
This day could have gone south quickly, and some of the habits I exhibited today could have served to bury me in a deeper hole. My thesis for each play was correct almost across the board, but I took some early losses on SPY. If you’re going to trade like…
Charting Journal | 5.20.2022 | Friday
Need to chart more carefully and must budget more time to do so before market open. Must chart with lines, not just glancing at daily charts and assuming patterns. A day may come where I’m proficient enough to pull that off, but it’s not here yet. Be thorough in your…
Trade Journal | 5.19.202 | Thu. | $.05
Not terrible, but only because I’m flat. I took some unnecessary risks & trades, especially at the end of the session, all just trying to get flat. They were small but this is a bad habit to get into. Overall the performance was decent in that I made a plan…
Game Plan | 5.19.2022 | Thursday
Communication Services VZ | seems to be forming ascending wedge within what could be massive bear flag. Lower priced stock, but below 48.8 looks to be room to at least 48.4 and what’s more, not a ton of price action between the two to serve as support. If hold below…
Charting Journal | 5.19.2022 | Thursday
Massive selloff yesterday. Did not trade, was excessively tired. Don’t harbor too much regret. You made the right choice for posterity & habit building. Everything dumping, across all sectors. As far as patterns go, /ES followed through with the prediction of the wedge pattern, though it exhibited a disturbing break…
Trade Journal | 5.16.2022 | Mon. | $4.99
Once again, this is a scalpers market & you’re finding success only in scalps. When you leave ‘runners’ on & give room, even when it’s small size, you almost invariably get stopped out for your loss. As was the case today with SPY. Embrace your time frame and take your…
Game Plan | 5.16.2022 | Monday
Consumer Staples BABA | Bull flag on hourly from Friday & looks to be exhibiting premarket strength. could see a pop up, beweare level at 89.5, but if this can hold then likely can push to 91. If bull flag pattern plays out should easily surpass 91. Stop should be…
Charting Journal | 5.16.2022 | Monday
Seems to be a broadening formation manifesting on /ES hourly, nearing what would be close to textbook completion with 5 touch points between descending trendline & top line. Meaningful break above 4050 would likely invalidate this. The market seems to be teasing a ‘bottom’ from the selloff last week, but…
Trade Journal | 5.13.2022 | Fri. | $4.96
Better performance today. Stepping away now, trying to learn from mistakes of yesterday. Tempted to step back in, still looks like there are some moves to capitalize on, particularly on good call I made on MRK. But I want to end the day green, and not only green, but having…
Game Plan | 5.13.2022 | Friday
Consumer staples WMT | Channeling on the daily, currently in between channels with some levels to trade around. Consider trading reversal of channel lines or wait for break out of channel if it manifests with meaningful activity Utilities NEE | Could be falling wedge. Significant Daily level at 70 coinciding…
Charting Journal | 5.13.022 | Friday
Seems a bulk of the sectors had a hold & bit of a rebound yesterday, a reprieve from the onslaught of selling over the course of the week. If this reversal remains to be seen. ?ES has surpassed daily 3950 level premarket, which seems like an exhibition of continued strength.…
Trade Journal | 5.12.2022 | Thu. | -$3.18
My analysis was correct on SPY but I didn’t have conviction & I made the—what can be in some cases, but wasn’t today—fatal mistake of trying to make back loses, & trading around in chop, which I could have and did identify as such. I was flat at multiple points…