5/19 DRC
Little overwhelmed going into today. There are a ton of setups to be looking at and a lot of in play stocks. Im going to have to take it slow and not force any trades today. Im going to have to be ok missing some moves.
SPY looks to open just under yesterdays close. We are at the top end of the past month VA so once again at a crucial deciding spot. We just failed lower so Im still expecting us to move higher.
Goals for today is to get aggressive in the names that I am right in, and to really push size for the ones with tape cues.
Another is if the stock is acting in favor of my bias, and retraces to a HTF level, to get in the stock. Small size as always to start and add more if it starts working. I missed a lot of 1 tap opportunities and would have been fine getting an entry in on it or shortly after.
AMAT
Nice reversal at open into huge breakout level. It broke I got in, pbd a short bit, I added on new HOD again and then reversed on me stopped out. Tape was not great at all.
ETSY
Relatively weak open. Had very weak day yesterday losing its steep uptrend TL. Today it coiled just above yest lod but made a range under vwap, tested above and failed. SPY also dropping hard.
On its way back down past vwap, I spotted a hidden seller and got in in front of him. We broke above him but dropped lower right away I added more. Ripped me stopped out above vwap.
-----------------------------------------------------------------
Ended up having a really nice flush. Retraced all the way back to vwap + HTF level + intraday breakdown spot and we found some good selling above it. I got a starter short, then saw a hidden seller and added more. A nice flush to start the trade back under vwap. Whole pullback was very low volume.
Still good selling pressure I added more on a new vwap test. Smaller size though. Took a big buy like it was nothing.
Sellers are here holding v well and still dropping. But now were holding above vwap for a while not giving it up.
Dropped under tape freaked, I added more. Needs to go now.
Started going good start, decent volume bump. Stop near b/e. Looking for LOD still.
Found some S at the 20ma. Came back to entry. Annoying but must deal.
Stopped me out.
Just now noticing its correlation with SPY. Also ripped up same time as ETSY. And dropped same time too..
WMT
Earnings gapper and strong name overall. Weak open was not able to find any strength really. We came down to 129.25 level and found a hidden buyer taking in everything refusing to drop. I got long in front of him, it is also the VA high and another high volume node. Tried to add, wasnt able to get the fill sucks. Went right to my PT at 130 just under vwpa and a mpkt TL. Found some R and stalled a bit.
Think were having a hidden buyer and hidden seller battle here. Price refusing to go anywhere really up or down. Waiting for some move here to take off.
Had a nice spike into vwap and I sold off just before it collapsed another .40 cents. Good trade but sucks because these are the ones that eliminate the losses and I was unable to get the size on.
If it gets down to .25 and hes there, ill buy again why not.
WORK
WORK was coming back up to the 30 area after huge breakout area, amazingly failed. It was strong and came up to 30 and I saw a lot of selling up there. Got a small starter and added just before new HOD. Stopped out
---------------------------------------------------------------
Ended up making new HOD and rolled back over fairly quickly. Still saw good selling pressure. Looking to get back in on a new retest of 30.10~
AAP
Earnings gapper. At open coiled and broke lower, once it found its bottom it exploded higher on huge volume to vwap and came back donw a bit. I had a big HTF level to play off of. We started seeing big volume above that level as we traded around it. The tape was showing buying signs and I got a starter once we started ticking up.
Added 3 more times as we kept going and bids started stacking stepping up
8Rvol here. And volume cues are great.
I calced my Star rating and its only a 7 max. Im reducing risk to recently held 1min candle. Not many variables and intraday is ok. Nothing special do not need to have full risk on.
Sellers were higher up and stepped lower. But buyers holding still.
We pulled back in on even lower volume, tape very slow. If we start ticking back up and can break this micro range ill take it as a sign sellers are drying up.
If we do squeeze here, there could be a lot of trapped shorts as its spent a lot of time under vwap.
We started ticking up, buyers on bid followed I added. Stop raised a little bit.
If we can pop and break higher here ill move my stop to breakeven. This much time passing on this trade, it needs to go sooner than later. The longer we stay lower the less likely I will have a winner.
And theres our mini pop. SPY right alongside it ripping higher.
Pop had 0 buying behind it. Stop even tighter. At this point feels like im just waiting to take a bigger loss.
I had been drawing TLs with respect to this freak spike it had. Im just now seeing that if I ignore it, price is right underneath other TL. So looking for another break higher here to see what sellers got.
Some good buying into it.
Broke it, saw some more, nothing special at all, stop even tighter.
Stopped out.
Ended up being a super squeeze after failing lower again under another range. I see no way back in to get that move.
BYND
Total faekout in both directions on HTF basis. 1st trap longs, then shorts, now were back above triangle and D highs. It lost vwap for a moment and we had very good buying wicks showing interest. There is a good dollar zone to work with here.
I waited for a vwap break to see the tape. Sellers came in but buyers took them right out. We tapped intraday TL and pulledback up. I got a starter and added on offer breaks. Needs to get back above whole number and .20
We got above vwap and held. Once we broke whole number I added more.
This .70cent area has come into play 6 times today so I still gotta deal with a little wiggle room before I move stop anywhere.
We tested back under vwap. Not a lot of signs either way. Test under vwap v slow low volume. Nice range high I will add and move stop up if its broken.
We got the range break and my add, but we stuffed right away and a seller showed up and others piled in after him. Stop is moved.
We are making a fairly tight triangle right now. Not super clean but TLs are valid and sticking. Needs to make another high push to break out. Stop underneath micro range here. Will look for re entry if its there.
HTF candles also not looking great, with some sell wicks. Tape is confirming it too. Either way were buying up under vwap for the moment.
And stopped out.
Should have looked for the short. After so many failed moves higher + being above vwap all day. There are a lot of longs going to be getting out under those pivot breaks.
RP
Reversal setup. Very odd price action, stock was trading 3rvol on no news and had some crazy moves. Either way got exactly what I wanted to see. Over extension. Tape buying comes in. Tried it once, didnt get a pop, tried it again still no pop but very clear level to add and I did add. Got a freak spike right away but nothing afterwards and exited small W. Medium L overall.
Just wasnt on my game today. Didnt miss any obvious trades. Was hard to get in the ones that did well. Short side had some nice moves but I couldnt see them fast enough. both WMT BYND AAP were pretty good.
I hit my goals fine. I was perhaps a little too eager to put size on in some names. I caught every name I wanted to trade in the direction I wanted no problems there either. Just couldnt catch a good win. Small recap of each trade.
AMAT
Good setup at good location with good market conditions. Just didnt blow up for me right away. Was one of the best longs on the day, id still be holding it now If I had an LT on. I flat out dont see a way into this name. After it made new HOD it never pulled back to vwap and only one pmkt hi leve, which I guess was enough for it to keep going.
ETSY
Not part of my original watch list but couldnt ignore the weakness it was showing. ABOVE yest lod where I wanted to see continuation of its big sell off as its is one of the more over extended names out there. In fact considering the circumstances I was way too big to start this trade. Other names i started with 10$ of risk, here I started at 30 and doubled down on a name that hasnt broken the HTF level yet, and market was ripping higher. Bad RM.
The later trade was much better. Clear weakness, broke the level and pbd to it.Simply didnt continue for me. Took a hefty loss as I did get big. No regrets.
WMT
Didnt get the fill. I will say that it is WMT, and it had earnings. Spread was a penny. I usually go for split limit orders to get in hence the no fill. I think in names like this, just hit the market. Chances are ill only give up a penny. And its better to lose a penny than to lose 200+ dollars in missed profit.
WORK
Size was great. Tiny loss as it was overall strong at a weak location. Fine.
AAP
Another disappointing one, looked great, slowly looked worse, then good, then bad and got me out. Just couldnt get the pop. While it was weak, it started showing signs of strength under vwap and respecting HTF level that cant be ignored. Was fine with loss and adds. Managed risk v well. Risk 100 only lost 30.
It absolutely ripped higher after faking another move lower, but after seeing it failed higher the first few times, I dont see how I can get back in that. Nor that I even wanted to.
BYND
So this one was a little odd. I planned a short but the completely reversed and BYND ripped up past the range high and started pulling back to levels. 1st it had pmkt hi from yest that it found S under vwap so I knew buyers were interested + the buying wicks we had from earlier. It held up above vwap for a while, made a nice range, failed 1 breakdown. Had a previous TL that it broke higher frm, and returned to it under vwap, tapped it and that was my in when I also saw buying.
Now the problem is that we failed to hold above that big sell rejection level, now we had to reclaim it again. And we couldnt. I think intraday data is more important that D data. Overall BYND was strong. I think taking that chance for it to get back above was fine as it did hold above vwap for a while as well. Exit was fine too no problems, just not a winner. Managed risk well.
RP
Just a reversal, didnt give me tape action I wanted to see.
I mean really its not terrible. I just didnt get good winners today. WMT should have been a trade that cut my losers in half. And ETSY should have been half as big a loss. Sometimes were meant to have red days. My issue is this red day shouldnt be as big as it is.
Better objective analysis. BYND was a better short. The level I was trying ot be long against was a level that was rejected and saw selling several times. And even when I was in the trade it proved it was worthy of a sell. Not a long into it.
Ever since I started this new LT ways of entry, Ive really been unable to jump on top of shorts, ive only been focusing on longs. And the main reason for that is just looking at the market. Everything is up, it doesnt make much sense to be looking for shorts everywhere.
I need to adapt better. There are good short trades still especially after some kind of failure on the long side. BYND WMT were good ones today.
GOALS
For tomorrow I Dont want to miss a short setup that has come after some failure on the long side.
Stay aggro on names that deserve it.
Just stick with it, todays not a big deal, onto the next day. Next good trade.
SPY looks to open just under yesterdays close. We are at the top end of the past month VA so once again at a crucial deciding spot. We just failed lower so Im still expecting us to move higher.
Goals for today is to get aggressive in the names that I am right in, and to really push size for the ones with tape cues.
Another is if the stock is acting in favor of my bias, and retraces to a HTF level, to get in the stock. Small size as always to start and add more if it starts working. I missed a lot of 1 tap opportunities and would have been fine getting an entry in on it or shortly after.
AMAT
Nice reversal at open into huge breakout level. It broke I got in, pbd a short bit, I added on new HOD again and then reversed on me stopped out. Tape was not great at all.
ETSY
Relatively weak open. Had very weak day yesterday losing its steep uptrend TL. Today it coiled just above yest lod but made a range under vwap, tested above and failed. SPY also dropping hard.
On its way back down past vwap, I spotted a hidden seller and got in in front of him. We broke above him but dropped lower right away I added more. Ripped me stopped out above vwap.
-----------------------------------------------------------------
Ended up having a really nice flush. Retraced all the way back to vwap + HTF level + intraday breakdown spot and we found some good selling above it. I got a starter short, then saw a hidden seller and added more. A nice flush to start the trade back under vwap. Whole pullback was very low volume.
Still good selling pressure I added more on a new vwap test. Smaller size though. Took a big buy like it was nothing.
Sellers are here holding v well and still dropping. But now were holding above vwap for a while not giving it up.
Dropped under tape freaked, I added more. Needs to go now.
Started going good start, decent volume bump. Stop near b/e. Looking for LOD still.
Found some S at the 20ma. Came back to entry. Annoying but must deal.
Stopped me out.
Just now noticing its correlation with SPY. Also ripped up same time as ETSY. And dropped same time too..
WMT
Earnings gapper and strong name overall. Weak open was not able to find any strength really. We came down to 129.25 level and found a hidden buyer taking in everything refusing to drop. I got long in front of him, it is also the VA high and another high volume node. Tried to add, wasnt able to get the fill sucks. Went right to my PT at 130 just under vwpa and a mpkt TL. Found some R and stalled a bit.
Think were having a hidden buyer and hidden seller battle here. Price refusing to go anywhere really up or down. Waiting for some move here to take off.
Had a nice spike into vwap and I sold off just before it collapsed another .40 cents. Good trade but sucks because these are the ones that eliminate the losses and I was unable to get the size on.
If it gets down to .25 and hes there, ill buy again why not.
WORK
WORK was coming back up to the 30 area after huge breakout area, amazingly failed. It was strong and came up to 30 and I saw a lot of selling up there. Got a small starter and added just before new HOD. Stopped out
---------------------------------------------------------------
Ended up making new HOD and rolled back over fairly quickly. Still saw good selling pressure. Looking to get back in on a new retest of 30.10~
AAP
Earnings gapper. At open coiled and broke lower, once it found its bottom it exploded higher on huge volume to vwap and came back donw a bit. I had a big HTF level to play off of. We started seeing big volume above that level as we traded around it. The tape was showing buying signs and I got a starter once we started ticking up.
Added 3 more times as we kept going and bids started stacking stepping up
8Rvol here. And volume cues are great.
I calced my Star rating and its only a 7 max. Im reducing risk to recently held 1min candle. Not many variables and intraday is ok. Nothing special do not need to have full risk on.
Sellers were higher up and stepped lower. But buyers holding still.
We pulled back in on even lower volume, tape very slow. If we start ticking back up and can break this micro range ill take it as a sign sellers are drying up.
If we do squeeze here, there could be a lot of trapped shorts as its spent a lot of time under vwap.
We started ticking up, buyers on bid followed I added. Stop raised a little bit.
If we can pop and break higher here ill move my stop to breakeven. This much time passing on this trade, it needs to go sooner than later. The longer we stay lower the less likely I will have a winner.
And theres our mini pop. SPY right alongside it ripping higher.
Pop had 0 buying behind it. Stop even tighter. At this point feels like im just waiting to take a bigger loss.
I had been drawing TLs with respect to this freak spike it had. Im just now seeing that if I ignore it, price is right underneath other TL. So looking for another break higher here to see what sellers got.
Some good buying into it.
Broke it, saw some more, nothing special at all, stop even tighter.
Stopped out.
Ended up being a super squeeze after failing lower again under another range. I see no way back in to get that move.
BYND
Total faekout in both directions on HTF basis. 1st trap longs, then shorts, now were back above triangle and D highs. It lost vwap for a moment and we had very good buying wicks showing interest. There is a good dollar zone to work with here.
I waited for a vwap break to see the tape. Sellers came in but buyers took them right out. We tapped intraday TL and pulledback up. I got a starter and added on offer breaks. Needs to get back above whole number and .20
We got above vwap and held. Once we broke whole number I added more.
This .70cent area has come into play 6 times today so I still gotta deal with a little wiggle room before I move stop anywhere.
We tested back under vwap. Not a lot of signs either way. Test under vwap v slow low volume. Nice range high I will add and move stop up if its broken.
We got the range break and my add, but we stuffed right away and a seller showed up and others piled in after him. Stop is moved.
We are making a fairly tight triangle right now. Not super clean but TLs are valid and sticking. Needs to make another high push to break out. Stop underneath micro range here. Will look for re entry if its there.
HTF candles also not looking great, with some sell wicks. Tape is confirming it too. Either way were buying up under vwap for the moment.
And stopped out.
Should have looked for the short. After so many failed moves higher + being above vwap all day. There are a lot of longs going to be getting out under those pivot breaks.
RP
Reversal setup. Very odd price action, stock was trading 3rvol on no news and had some crazy moves. Either way got exactly what I wanted to see. Over extension. Tape buying comes in. Tried it once, didnt get a pop, tried it again still no pop but very clear level to add and I did add. Got a freak spike right away but nothing afterwards and exited small W. Medium L overall.
Just wasnt on my game today. Didnt miss any obvious trades. Was hard to get in the ones that did well. Short side had some nice moves but I couldnt see them fast enough. both WMT BYND AAP were pretty good.
I hit my goals fine. I was perhaps a little too eager to put size on in some names. I caught every name I wanted to trade in the direction I wanted no problems there either. Just couldnt catch a good win. Small recap of each trade.
AMAT
Good setup at good location with good market conditions. Just didnt blow up for me right away. Was one of the best longs on the day, id still be holding it now If I had an LT on. I flat out dont see a way into this name. After it made new HOD it never pulled back to vwap and only one pmkt hi leve, which I guess was enough for it to keep going.
ETSY
Not part of my original watch list but couldnt ignore the weakness it was showing. ABOVE yest lod where I wanted to see continuation of its big sell off as its is one of the more over extended names out there. In fact considering the circumstances I was way too big to start this trade. Other names i started with 10$ of risk, here I started at 30 and doubled down on a name that hasnt broken the HTF level yet, and market was ripping higher. Bad RM.
The later trade was much better. Clear weakness, broke the level and pbd to it.Simply didnt continue for me. Took a hefty loss as I did get big. No regrets.
WMT
Didnt get the fill. I will say that it is WMT, and it had earnings. Spread was a penny. I usually go for split limit orders to get in hence the no fill. I think in names like this, just hit the market. Chances are ill only give up a penny. And its better to lose a penny than to lose 200+ dollars in missed profit.
WORK
Size was great. Tiny loss as it was overall strong at a weak location. Fine.
AAP
Another disappointing one, looked great, slowly looked worse, then good, then bad and got me out. Just couldnt get the pop. While it was weak, it started showing signs of strength under vwap and respecting HTF level that cant be ignored. Was fine with loss and adds. Managed risk v well. Risk 100 only lost 30.
It absolutely ripped higher after faking another move lower, but after seeing it failed higher the first few times, I dont see how I can get back in that. Nor that I even wanted to.
BYND
So this one was a little odd. I planned a short but the completely reversed and BYND ripped up past the range high and started pulling back to levels. 1st it had pmkt hi from yest that it found S under vwap so I knew buyers were interested + the buying wicks we had from earlier. It held up above vwap for a while, made a nice range, failed 1 breakdown. Had a previous TL that it broke higher frm, and returned to it under vwap, tapped it and that was my in when I also saw buying.
Now the problem is that we failed to hold above that big sell rejection level, now we had to reclaim it again. And we couldnt. I think intraday data is more important that D data. Overall BYND was strong. I think taking that chance for it to get back above was fine as it did hold above vwap for a while as well. Exit was fine too no problems, just not a winner. Managed risk well.
RP
Just a reversal, didnt give me tape action I wanted to see.
I mean really its not terrible. I just didnt get good winners today. WMT should have been a trade that cut my losers in half. And ETSY should have been half as big a loss. Sometimes were meant to have red days. My issue is this red day shouldnt be as big as it is.
Better objective analysis. BYND was a better short. The level I was trying ot be long against was a level that was rejected and saw selling several times. And even when I was in the trade it proved it was worthy of a sell. Not a long into it.
Ever since I started this new LT ways of entry, Ive really been unable to jump on top of shorts, ive only been focusing on longs. And the main reason for that is just looking at the market. Everything is up, it doesnt make much sense to be looking for shorts everywhere.
I need to adapt better. There are good short trades still especially after some kind of failure on the long side. BYND WMT were good ones today.
GOALS
For tomorrow I Dont want to miss a short setup that has come after some failure on the long side.
Stay aggro on names that deserve it.
Just stick with it, todays not a big deal, onto the next day. Next good trade.
Comments
Post a Comment