6/11 DRC
Yesterday was terrible, and ugly quick. I took trades at levels that werent significant, didnt look for opposite direction trades after such clean failure and retests, sized up too much on starters. Just bad
I went and made my LT process strategy. Defined as much as I could at this point. Main point is to not take any trades that arent clean and clear above/below levels. Anything that tells me 'I cant decide who is clearly in control here' means I dont have a trade on it yet.
Also I have been feeling off about how im labeling my trades. I need to add if its a breakout, a continuation of a previous breakout, how many days after, and if theres been consolidation on the D before the break.
1. Do not take any LT trades that are not clearly holding above/under HTF locations with signs of who is in control
2. Do not start with more than 25$ risk on starters.
3. Stay aggressive, adding to the best
4. Follow PT rules
Woke up late on purpose today. Decided I needed to sleep in and get well rested before I traded. Showed up a little before the bell, charted did everything I usually do. 20 Minutes into the day and im ready to go.
BA
1st trade on the day, strong open, came into prev big D breakout and vwap and found lots of buying. Got a starter as we dipped under and kept adding as I saw more buying
Getting in a tight range, buyers are winning tape is v clear. Needs to break above 187.50 and TL from HOD for move higher. Stop under 186
Got to vwap and never dipped under, added as we were spiking up again. Completely stuffed me and dropped under vwap, again spiked right back above. Was going to treat that as new SL but now cant.
Very tight almost at breaking point, signs point higher, SPY is weak under vwap and points down but cant ignore tape. Waiting
Broke higher, tried to add no fill, excellent break with volume. Looking for a new HOD here. Dont need to lose money on this anymore, stop is just under breakeven.
Broke above other micro range high.
188.50 starts a gap fill, that is where we are finding selling right now.
Found big hidden sell at 189 broke above him. SPY turning up as well, we look good for HOD + gap fill to 197. Market is rebounding nicely from this gap down
Finding myself very impatient, I think BA being as wild as it is making me nervous, plus im fairly big right now, was at one point up to 100$ risk and trying to convince myself to find reasons to cut in half. Only if I see warning signs which I dont think I do. Vol is great, buying is here. Selling seems to be showing up too though.
We seem to be stalling again, going sideways, theres a hidden buyer at 188. Buyers unable to make new 1min highs here.
Broke lower and found good buying bringing us back into that range. Rejected lower again. We are all over the map here. Not much consistency, Sellers seem to be absorbing all this buying.
Moving stop up to just under break even. That breakdown it had went right to it.
Forming new triangle. Testing higher again. Vol is drying up which is good considering this is a PB to og breakout + HTF + vwap.
Changing my stop to a breakdown of this new triangle. We seem weak again. Stopped out all.
Looking for re entry again at vwap + HTF.
Broke lower, was a good call.
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Looking for shorts now on retsets of vwap. Seems to be a lot of buying on this dip. Big vol increase, but we dropped no further.
Broke above, going to have to wait for resolution on this.
And broke right back lower. Waiting on retest again for short.
Seems to be a lot of sympathy with SPY. Almost 1:1 despite 2.5 RVOL
Popped above micro range into hidden seller at 186.60 tried ot get in, no fill, pushed lower, SPY doing the same, looks like I missed it.
AFTERNOON
These kinds of days are NOT my days to make money. For one we havent seen a day like this in forever, and more often than not, I dont know how the hell to get into names short that are already gapping down sometimes double digits. Stick to process, wait for market to come to me. No need to force anything. Only opportunity I had was that BA short.
MRNA
Scalp, didnt go.
Calling it a day early, got other things to do. Hopefully things make more sense tomorrow and can get some more trades on. Even if I was up and planned on time, dont think it wouldve made much of a difference in what I took today.
I went and made my LT process strategy. Defined as much as I could at this point. Main point is to not take any trades that arent clean and clear above/below levels. Anything that tells me 'I cant decide who is clearly in control here' means I dont have a trade on it yet.
Also I have been feeling off about how im labeling my trades. I need to add if its a breakout, a continuation of a previous breakout, how many days after, and if theres been consolidation on the D before the break.
1. Do not take any LT trades that are not clearly holding above/under HTF locations with signs of who is in control
2. Do not start with more than 25$ risk on starters.
3. Stay aggressive, adding to the best
4. Follow PT rules
Woke up late on purpose today. Decided I needed to sleep in and get well rested before I traded. Showed up a little before the bell, charted did everything I usually do. 20 Minutes into the day and im ready to go.
BA
1st trade on the day, strong open, came into prev big D breakout and vwap and found lots of buying. Got a starter as we dipped under and kept adding as I saw more buying
Getting in a tight range, buyers are winning tape is v clear. Needs to break above 187.50 and TL from HOD for move higher. Stop under 186
Got to vwap and never dipped under, added as we were spiking up again. Completely stuffed me and dropped under vwap, again spiked right back above. Was going to treat that as new SL but now cant.
Very tight almost at breaking point, signs point higher, SPY is weak under vwap and points down but cant ignore tape. Waiting
Broke higher, tried to add no fill, excellent break with volume. Looking for a new HOD here. Dont need to lose money on this anymore, stop is just under breakeven.
Broke above other micro range high.
188.50 starts a gap fill, that is where we are finding selling right now.
Found big hidden sell at 189 broke above him. SPY turning up as well, we look good for HOD + gap fill to 197. Market is rebounding nicely from this gap down
Finding myself very impatient, I think BA being as wild as it is making me nervous, plus im fairly big right now, was at one point up to 100$ risk and trying to convince myself to find reasons to cut in half. Only if I see warning signs which I dont think I do. Vol is great, buying is here. Selling seems to be showing up too though.
We seem to be stalling again, going sideways, theres a hidden buyer at 188. Buyers unable to make new 1min highs here.
Broke lower and found good buying bringing us back into that range. Rejected lower again. We are all over the map here. Not much consistency, Sellers seem to be absorbing all this buying.
Moving stop up to just under break even. That breakdown it had went right to it.
Forming new triangle. Testing higher again. Vol is drying up which is good considering this is a PB to og breakout + HTF + vwap.
Changing my stop to a breakdown of this new triangle. We seem weak again. Stopped out all.
Looking for re entry again at vwap + HTF.
Broke lower, was a good call.
----------------------------------------------------------------------------
Looking for shorts now on retsets of vwap. Seems to be a lot of buying on this dip. Big vol increase, but we dropped no further.
Broke above, going to have to wait for resolution on this.
And broke right back lower. Waiting on retest again for short.
Seems to be a lot of sympathy with SPY. Almost 1:1 despite 2.5 RVOL
Popped above micro range into hidden seller at 186.60 tried ot get in, no fill, pushed lower, SPY doing the same, looks like I missed it.
AFTERNOON
These kinds of days are NOT my days to make money. For one we havent seen a day like this in forever, and more often than not, I dont know how the hell to get into names short that are already gapping down sometimes double digits. Stick to process, wait for market to come to me. No need to force anything. Only opportunity I had was that BA short.
MRNA
Scalp, didnt go.
Calling it a day early, got other things to do. Hopefully things make more sense tomorrow and can get some more trades on. Even if I was up and planned on time, dont think it wouldve made much of a difference in what I took today.
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