6/17 DRC
Solid day yesterday. Stayed patient for good setups, didnt take anything ridiculous. Looking to keep it slow and steady as we digest this gap lower/higher now. Expecting us to fill out some value for a while since we are finally pulling back from our uptrend. Not expecting as many crazy moves as weve been having for the moment, more range bound, trends a bit shorter. We shall see.
SPY gapping higher near yest HOD. Would not be surprised to see us sell off again, build higher and maybe retest highs. Could just bust out and make new highs and build value higher as well.
Either way my setups are looking like breakouts. Some making the break in premarket so will look for a pb to buy the dip.
Goals for today
1.Stay very patient, let it come to you
2. Dont take anything that isnt clean and clear
3. Stay aggressive. Push if its there.
4. Follow pt rules
-Reversals. Dont take any off until PT is hit and 1min candle low broken.
-LT. Dont take any off until PT is hit. Unless I am risking alot more than normal, then it is ok to take some off beforehand if we see warning signs to cover risk.
NVAX
Strong pop off the open, slowly gave it back and lost vwap into HTF levels. We broke down into it and saw big bids the whole way and reloading. Once one stepped up and we ticked higher I got a starter and addded as we went higher. Will have to judge vwap for early take.
Market was popping higher, now rolling over hard losing vwap again.
Slowing down the pop from these levels pretty good. Vol is up but slowing down. Big bids are here so changing stop to under the last large one I saw. Dont need to fight the weakness and take a full loss here.
Big bid stepped up to where my breakeven is at so that works out nice. Market getting ugly. SPY almost new LOD.
Pushing higher above vwap with vol anyways. Waiting to take half.
We are really holding above vwap for 3 min now unable to get under it. Made new high after super low vol above vwap. Sellers must be non existent above for now.
Majority out on new 1min low. Just above vwap.
Pulled into low 30s just above vwap and again cant get under. Will be stop for rest.
Kept grinding higher with vol cues still here. HOD take another half.
Made a nice range above 54, broke lower, waiting to see if itll reject and reclaim, if not I will be out this last partial. And it did get back above so that new low will be stop.
Almost a repeat of my MRNA trade yesterday, SPY just collapses out of nowhere and dumps a couple points in a flash. NVAX reacted just before it was gonna hit new HOD, I got out early. It started falling with it. Saved myself giving some back. Will look to get in again on some retest lower.
WORK
After SPY big dump, WORK did same into HTF zone. There was a good battle of big buy sand sells and it looked like buyers were winning as we ticked up. I got a starter as we broke a hidden seller. Ready to add more but never came and stopped out ad it skipped under.
Didnt flush anymore though and came right back upso tried again and got back in. Again ready add, didnt happen. SPY made new low and WORK followed but not getting any lower. We came back up and saw good tape action I added as we kept going with stop reduced a bit. SPY also failed and went higher again.
Little big here but I like opportunity for retrace form this random dump + tape action. We kept ticking higher making new 1min highs, but nothing really taking off. Keeps finding sellers.
Ticked stuffed lower as SPY did too ad we found a big bid. Got taken out as SPY was dropping making new lows again. Seems like WORK just barely hanging on here. Reducing stop again to recent 1min held level twice. Sellers on offer again here, but taken out again. Trade could still go for me but seems like I need to find a way out or im just waiting to take a loss.
Huge buys coming in. Needs to go and make new high now. SPY again ripping higher after new lod test. Gotta see it.
Ran into hidden seller at breakeven. We couldnt get through, as we ticked lower I got out.
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Super odd tape. Buyers 100% here with big bids, sellers are too though taking them out and refresh hidden. We made a new recent range high into more seller. Kinda tough to see a clean trade, should stay away.
ROKU
Much later in day coiled around hTF levels, faking out both directions. Theme of market is long so sticking with that. We failed a triangle break lower and came back up to HTF and vwap and came lower again and found support at a previous D bo range. Got a starter as we tested it again and failed to drop. Added as we ticked higher.
SPY was reclaiming vwap. ROKU broke higher from range and triangle and vwap and into prev HOD. Vol bump and is a prim short squeeze candidate. Looking to take half a midway pivot.
Lots of buying coming in, looks great. Just waiting now.
PT hit, no explosion or volume which is bad. Took half under 1min lo.
Next couple minutes lost a point and then some. Right into vwap + TL + prev HOD. Looking to add here. and use as stop.
SPY and market internals weak and rolling over, ROKU didnt care had good signs. Tried to add, no fill. Either new highs here for another half out, or add on new pb.
Got a new pb as market still weak, ROKU didnt made it new pivot high, came into TL + prev hod and stalled. Low vol so got small starter back in as we ticked up and added as we kept going.
We moved up and away on super low volume. Last pivot low will be exit as we have warning signs now. Need market to turn up and stop dropping, ROKU to find some vol on this upmove.
I guess you can call it relative strength were still grinding higher on low vol as SPY is stalling lower. Trying to start to turn up here, maybe it can get back to vwap.
Going to make TL my stop. If it cant hold above it after testing a break under I should get out. Looks like we may want vwap build 1st. No need to give up profits.
Broke lower and didnt see any signs of buying, stop moved to breakeven on those adds. Of course SPY decides to turn up now and we have rel weakness here. And then ROKU on a dime from my stop turns back up. Whatever happens, happens.
Market is getting stronger with internals. ROKU might just need a breather, still above 121. There is an excellent triangle building with a great re entry by vwap. If I do get out, will look to get right back in.
Came back up to new TL from HOD, got above on super low volume. Did not break higher. Had to leave the desk and got stopped out when I came back
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Market getting much stronger, looking very squeezy. ROKU came back down to prev HOD level getting very tight in triangle. A+ entry spot just a bit lower by vwap + TL.
Getting closer and col is very low, market not popping higher yet.
We got there and just started stepping higher. I got a starter and added small as we popped more. Im not that big yet because I still think we may want lower at the moment so I want to wait for big risk lower with clear stop point. I saw a big bid at 120.50 under vwap and TL and that will be current stop.
And we got to it and lost it. All out. Just cant seem to get going here.
Seeing a lot of selling but not dropping, Will got for short scalp breakdown if we get momentum going to the downside.
And then a big bid showed up. And got taken out, and theres my momentum. Markets had a shot to get strong and they failed, now ROKU failing 1st.
And life situation came up an had to leave desk. Got into scalp, had to leave trailing stop. Lost a tiny win no big deal.
Going to call it an early day. Will stick around for some reversals maybe, but seems like mostly everything is done with there moves. Maybe ROKU does something later.
Biggest mistake was focusing on WORK too much and not looking to get back in on NVAX. Perfect re entry at vwap with tiny fail breakdown was entry. Need to start setting alerts so I know better when to shift focus.
Was good day though. Solid wins, kept losers very small. Goals achieved.
SPY gapping higher near yest HOD. Would not be surprised to see us sell off again, build higher and maybe retest highs. Could just bust out and make new highs and build value higher as well.
Either way my setups are looking like breakouts. Some making the break in premarket so will look for a pb to buy the dip.
Goals for today
1.Stay very patient, let it come to you
2. Dont take anything that isnt clean and clear
3. Stay aggressive. Push if its there.
4. Follow pt rules
-Reversals. Dont take any off until PT is hit and 1min candle low broken.
-LT. Dont take any off until PT is hit. Unless I am risking alot more than normal, then it is ok to take some off beforehand if we see warning signs to cover risk.
NVAX
Strong pop off the open, slowly gave it back and lost vwap into HTF levels. We broke down into it and saw big bids the whole way and reloading. Once one stepped up and we ticked higher I got a starter and addded as we went higher. Will have to judge vwap for early take.
Market was popping higher, now rolling over hard losing vwap again.
Slowing down the pop from these levels pretty good. Vol is up but slowing down. Big bids are here so changing stop to under the last large one I saw. Dont need to fight the weakness and take a full loss here.
Big bid stepped up to where my breakeven is at so that works out nice. Market getting ugly. SPY almost new LOD.
Pushing higher above vwap with vol anyways. Waiting to take half.
We are really holding above vwap for 3 min now unable to get under it. Made new high after super low vol above vwap. Sellers must be non existent above for now.
Majority out on new 1min low. Just above vwap.
Pulled into low 30s just above vwap and again cant get under. Will be stop for rest.
Kept grinding higher with vol cues still here. HOD take another half.
Made a nice range above 54, broke lower, waiting to see if itll reject and reclaim, if not I will be out this last partial. And it did get back above so that new low will be stop.
Almost a repeat of my MRNA trade yesterday, SPY just collapses out of nowhere and dumps a couple points in a flash. NVAX reacted just before it was gonna hit new HOD, I got out early. It started falling with it. Saved myself giving some back. Will look to get in again on some retest lower.
WORK
After SPY big dump, WORK did same into HTF zone. There was a good battle of big buy sand sells and it looked like buyers were winning as we ticked up. I got a starter as we broke a hidden seller. Ready to add more but never came and stopped out ad it skipped under.
Didnt flush anymore though and came right back upso tried again and got back in. Again ready add, didnt happen. SPY made new low and WORK followed but not getting any lower. We came back up and saw good tape action I added as we kept going with stop reduced a bit. SPY also failed and went higher again.
Little big here but I like opportunity for retrace form this random dump + tape action. We kept ticking higher making new 1min highs, but nothing really taking off. Keeps finding sellers.
Ticked stuffed lower as SPY did too ad we found a big bid. Got taken out as SPY was dropping making new lows again. Seems like WORK just barely hanging on here. Reducing stop again to recent 1min held level twice. Sellers on offer again here, but taken out again. Trade could still go for me but seems like I need to find a way out or im just waiting to take a loss.
Huge buys coming in. Needs to go and make new high now. SPY again ripping higher after new lod test. Gotta see it.
Ran into hidden seller at breakeven. We couldnt get through, as we ticked lower I got out.
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Super odd tape. Buyers 100% here with big bids, sellers are too though taking them out and refresh hidden. We made a new recent range high into more seller. Kinda tough to see a clean trade, should stay away.
ROKU
Much later in day coiled around hTF levels, faking out both directions. Theme of market is long so sticking with that. We failed a triangle break lower and came back up to HTF and vwap and came lower again and found support at a previous D bo range. Got a starter as we tested it again and failed to drop. Added as we ticked higher.
SPY was reclaiming vwap. ROKU broke higher from range and triangle and vwap and into prev HOD. Vol bump and is a prim short squeeze candidate. Looking to take half a midway pivot.
Lots of buying coming in, looks great. Just waiting now.
PT hit, no explosion or volume which is bad. Took half under 1min lo.
Next couple minutes lost a point and then some. Right into vwap + TL + prev HOD. Looking to add here. and use as stop.
SPY and market internals weak and rolling over, ROKU didnt care had good signs. Tried to add, no fill. Either new highs here for another half out, or add on new pb.
Got a new pb as market still weak, ROKU didnt made it new pivot high, came into TL + prev hod and stalled. Low vol so got small starter back in as we ticked up and added as we kept going.
We moved up and away on super low volume. Last pivot low will be exit as we have warning signs now. Need market to turn up and stop dropping, ROKU to find some vol on this upmove.
I guess you can call it relative strength were still grinding higher on low vol as SPY is stalling lower. Trying to start to turn up here, maybe it can get back to vwap.
Going to make TL my stop. If it cant hold above it after testing a break under I should get out. Looks like we may want vwap build 1st. No need to give up profits.
Broke lower and didnt see any signs of buying, stop moved to breakeven on those adds. Of course SPY decides to turn up now and we have rel weakness here. And then ROKU on a dime from my stop turns back up. Whatever happens, happens.
Market is getting stronger with internals. ROKU might just need a breather, still above 121. There is an excellent triangle building with a great re entry by vwap. If I do get out, will look to get right back in.
Came back up to new TL from HOD, got above on super low volume. Did not break higher. Had to leave the desk and got stopped out when I came back
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Market getting much stronger, looking very squeezy. ROKU came back down to prev HOD level getting very tight in triangle. A+ entry spot just a bit lower by vwap + TL.
Getting closer and col is very low, market not popping higher yet.
We got there and just started stepping higher. I got a starter and added small as we popped more. Im not that big yet because I still think we may want lower at the moment so I want to wait for big risk lower with clear stop point. I saw a big bid at 120.50 under vwap and TL and that will be current stop.
And we got to it and lost it. All out. Just cant seem to get going here.
Seeing a lot of selling but not dropping, Will got for short scalp breakdown if we get momentum going to the downside.
And then a big bid showed up. And got taken out, and theres my momentum. Markets had a shot to get strong and they failed, now ROKU failing 1st.
And life situation came up an had to leave desk. Got into scalp, had to leave trailing stop. Lost a tiny win no big deal.
Going to call it an early day. Will stick around for some reversals maybe, but seems like mostly everything is done with there moves. Maybe ROKU does something later.
Biggest mistake was focusing on WORK too much and not looking to get back in on NVAX. Perfect re entry at vwap with tiny fail breakdown was entry. Need to start setting alerts so I know better when to shift focus.
Was good day though. Solid wins, kept losers very small. Goals achieved.
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