6/18 DRC
Trading is going well. Im staying patient, letting things come to me. Let the market do the work. Need to make sure im still doing that.
Market grinding lower, ive got a good mix of things today short and long, still think were digesting all this and building value for the time being. Yesterday we were pretty tightly range bound, SPY had small range day and I really didnt have a lot of good looking setups. Kind of expecting that same thing to play out today.
1. Let the trade become clean and clear before entry.
2. Stay aggressive on best setups.
3. Follow PT rules
RRGB
Nice range at open after being weak. Broke above into HTF zone and got stuffed by a good amount of selling. Got in and added as it ticked lower. Great tape.
Added again as we kept going lower.
Decent sized bid showed up, will probably be tough to get through vol very low. If we do though I think were clear for LOD.
We did and shortly after broke LOD. Spread is ugly so waiting an extra bit before taking. Gotta give it time.
Vol clearly showing sellers in control, buyers bought the lod break though, v low vol still.
Small pivot above vwap will be my out.
And ripped me, all out for a loss.
ROKU
Strong open and pulled back to vwap+htf bo area on v low vol. tape looked great saw plenty of buying and got in and added. Couldnt hold and dropped lower as SPY did the same.
BABA
Big level at 225, broke higher in the morning and then lost it. Came up to retest and rejected on low volume. Did it again and saw plenty of selling above it and vwap.
Got a starter as we rejected once, and added as we dropped more. Made tight range and added again under it. Kind of an odd spot because market got strong but BABAs tape is weak. We flushed lower for a moment on very low volume, stop has been reduced for smaller loss.
After flush came right back to test vwap again, SPY is rolling over lower.
Reducing stop a bit again on that last spike high. Should be seeing a good flush here with volume.
TL from LOD to beat. Looking to get 224.
Gave me a gift and flash dumped .50 cents. Took some off early to cover risk.
Bounced pulled back to TL + micro range low an solid off a bit again. Stop for rest at breakeven. Market still hanging on grinding higher here so BABAs got relative weakness, but also reasons to reclaim this and head higher. If not there should be plenty of longs looking to get out on a flush under 224.
Next attempt lower on v low vol and didnt make new low. Coming back up to retest.
Stil v low vol on pb now too, tough read, gotta let it be.
Popped a bit higher, failed to get to vwap and dropped lower quick. Using that recent high as new stop, we should be gone, SPY rolling over lower. No need for this to turn red.
New TL from LOD and recent pivot low now acting as good S, some bids here. A good .30 cent zone to get under here.
SPY flushing lower, BABA needs to find it.
Not finding it but vol is dying on these pbs higher. Just cannot seem to make a move lower.
Stop reduced a little more to last pb high, still a Lower high, but its getting choppy and ugly. Gotta go.
Stopped out. Will get back in if I see good signs higher again.
Then SPY decided to fucking flash crash and im not in.
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Keeps hitting its head on 225, looking like itll eventually get there. Im going to go for a scalp above it long. SPY still turning up just made new HOD. BABA failed a break lower and is coming back up with vol. A+ scalp case.
Got the break, but no big pop. Small loss.
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After the break it slowly made its way higher and busted the previous range. Did not hold and I saw a big seller come in on the offer and got in in front. Added as we dropped lower.
Will have to lose vwap and then some for real weakness I think. Trade is good to start though.
Few TLs to break here no major ones yet for a while. SPY is up and holding up. BABA lost vwap and no seems unable to get back above.
Lots of red on tape, but volume is pretty low. Finding myself really wanting to cover early but have to hold through this. Must be ok with giving it back. Trust process, if it isnt meant to be a winner, its not meant to be.
Think I saw a flash of a hidden buyer and missed my chance to get out. Came back to whole number and saw tons of selling but not able to hold under. All out as it got back above. Tiny L.
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Broke down made new range low. Still very low volume, not sure itll stick. But we do have weakness and followed through with it so now waiting on a pb to 225 for a possible short again.
Nope. Bizarre tape and vol action. Could not get a clean read.
I suppose after the finally failed push above the range after vwap + stuff back under I should looked for short bias but couldnt adapt to that quick enough.
Is giving a possible reversal setup.
DAL
Airlines had strong open, and gav eit all back all afternoon. Some got to prev LOD and coiled above it. Im picking a bottom down here trying to see when this sell is done. SPY is trending lower also into prev lod and lost but found vol bringing it back up. DAL tape looks good there is buying.
Lots of other failed breakdowns as well in airlines. Just gotta let it be. Looking for these to get back to vwap.
Internals failed to make new lows and now making highs. Think we might be done with downtrend and see a good retrace back higher to levels in these names. DAL levels to get above 30.22 to start, then .32 and vwap at .40
Airlines kinda split, we are turning up for the moment, only UAL making a new Higher low.
V low vol in DAL on this pb higher. SPY turned lower to retest prev lod from above and is holding. Internals look ready to get back to highs. Things turning up, need to watch out for if its just a pb before heading lower again.
Hit .23 Vol still low. Market is trying to find some strength here. Really needs to find it and soon or well just retest lows again. Dal creeping higher along with other airlines. SPY doing the same. Up 1.5R at this point, stop is just under breakeven.
Airlines had decent move higher breaking downtrend. SPY and internals did not find that same strength.
Internals getting high and tight, Airlines still look great. DAL now at .32 and broke above, other airlines doing the same still popping higher. SPY is not finding it. Internals very high and tight. Stop moved up to keep profits. Will make me break even on the day.
Whole upmove here on airlines has been on low vol + SPY not finding strength when it should means I should look to take this where I can.
Alright finally got a nice pop higher in SPY and internals. DAL still rising. Close to vwap. All airlines finding vol and rising. Ready to take half now on new 1min lo.
And out half. Not giving back .10cents for just 3 more. Stop in for last half under micro range.
SPY got to vwap and stalled, now breaking higher with internals.
.40 hit and we got a nice pop. Taking another half soon. And taken.
Decent minor TL to work with. We got to vwap, hovered around and sold off pretty good, found the sellers. Stop is just under this TL break. Stopped me out the rest and sell off got worse.
Kind of a tough day. BABA was the only real move that made a good move. ROKU was a long but offered no good entries. No regrets on BABA though, I couldve gone for that last short but wanted to wait for resolution, was just one of those times.
Happy to end green on the day. Not everyday is a day for me to make a killing but I stayed patient and took what looked good. Didnt force anything.
Market grinding lower, ive got a good mix of things today short and long, still think were digesting all this and building value for the time being. Yesterday we were pretty tightly range bound, SPY had small range day and I really didnt have a lot of good looking setups. Kind of expecting that same thing to play out today.
1. Let the trade become clean and clear before entry.
2. Stay aggressive on best setups.
3. Follow PT rules
RRGB
Nice range at open after being weak. Broke above into HTF zone and got stuffed by a good amount of selling. Got in and added as it ticked lower. Great tape.
Added again as we kept going lower.
Decent sized bid showed up, will probably be tough to get through vol very low. If we do though I think were clear for LOD.
We did and shortly after broke LOD. Spread is ugly so waiting an extra bit before taking. Gotta give it time.
Vol clearly showing sellers in control, buyers bought the lod break though, v low vol still.
Small pivot above vwap will be my out.
And ripped me, all out for a loss.
ROKU
Strong open and pulled back to vwap+htf bo area on v low vol. tape looked great saw plenty of buying and got in and added. Couldnt hold and dropped lower as SPY did the same.
BABA
Big level at 225, broke higher in the morning and then lost it. Came up to retest and rejected on low volume. Did it again and saw plenty of selling above it and vwap.
Got a starter as we rejected once, and added as we dropped more. Made tight range and added again under it. Kind of an odd spot because market got strong but BABAs tape is weak. We flushed lower for a moment on very low volume, stop has been reduced for smaller loss.
After flush came right back to test vwap again, SPY is rolling over lower.
Reducing stop a bit again on that last spike high. Should be seeing a good flush here with volume.
TL from LOD to beat. Looking to get 224.
Gave me a gift and flash dumped .50 cents. Took some off early to cover risk.
Bounced pulled back to TL + micro range low an solid off a bit again. Stop for rest at breakeven. Market still hanging on grinding higher here so BABAs got relative weakness, but also reasons to reclaim this and head higher. If not there should be plenty of longs looking to get out on a flush under 224.
Next attempt lower on v low vol and didnt make new low. Coming back up to retest.
Stil v low vol on pb now too, tough read, gotta let it be.
Popped a bit higher, failed to get to vwap and dropped lower quick. Using that recent high as new stop, we should be gone, SPY rolling over lower. No need for this to turn red.
New TL from LOD and recent pivot low now acting as good S, some bids here. A good .30 cent zone to get under here.
SPY flushing lower, BABA needs to find it.
Not finding it but vol is dying on these pbs higher. Just cannot seem to make a move lower.
Stop reduced a little more to last pb high, still a Lower high, but its getting choppy and ugly. Gotta go.
Stopped out. Will get back in if I see good signs higher again.
Then SPY decided to fucking flash crash and im not in.
-------------------------------------------------------------
Keeps hitting its head on 225, looking like itll eventually get there. Im going to go for a scalp above it long. SPY still turning up just made new HOD. BABA failed a break lower and is coming back up with vol. A+ scalp case.
Got the break, but no big pop. Small loss.
---------------------------------------------------------------
After the break it slowly made its way higher and busted the previous range. Did not hold and I saw a big seller come in on the offer and got in in front. Added as we dropped lower.
Will have to lose vwap and then some for real weakness I think. Trade is good to start though.
Few TLs to break here no major ones yet for a while. SPY is up and holding up. BABA lost vwap and no seems unable to get back above.
Lots of red on tape, but volume is pretty low. Finding myself really wanting to cover early but have to hold through this. Must be ok with giving it back. Trust process, if it isnt meant to be a winner, its not meant to be.
Think I saw a flash of a hidden buyer and missed my chance to get out. Came back to whole number and saw tons of selling but not able to hold under. All out as it got back above. Tiny L.
--------------------------------------------------------------
Broke down made new range low. Still very low volume, not sure itll stick. But we do have weakness and followed through with it so now waiting on a pb to 225 for a possible short again.
Nope. Bizarre tape and vol action. Could not get a clean read.
I suppose after the finally failed push above the range after vwap + stuff back under I should looked for short bias but couldnt adapt to that quick enough.
Is giving a possible reversal setup.
DAL
Airlines had strong open, and gav eit all back all afternoon. Some got to prev LOD and coiled above it. Im picking a bottom down here trying to see when this sell is done. SPY is trending lower also into prev lod and lost but found vol bringing it back up. DAL tape looks good there is buying.
Lots of other failed breakdowns as well in airlines. Just gotta let it be. Looking for these to get back to vwap.
Internals failed to make new lows and now making highs. Think we might be done with downtrend and see a good retrace back higher to levels in these names. DAL levels to get above 30.22 to start, then .32 and vwap at .40
Airlines kinda split, we are turning up for the moment, only UAL making a new Higher low.
V low vol in DAL on this pb higher. SPY turned lower to retest prev lod from above and is holding. Internals look ready to get back to highs. Things turning up, need to watch out for if its just a pb before heading lower again.
Hit .23 Vol still low. Market is trying to find some strength here. Really needs to find it and soon or well just retest lows again. Dal creeping higher along with other airlines. SPY doing the same. Up 1.5R at this point, stop is just under breakeven.
Airlines had decent move higher breaking downtrend. SPY and internals did not find that same strength.
Internals getting high and tight, Airlines still look great. DAL now at .32 and broke above, other airlines doing the same still popping higher. SPY is not finding it. Internals very high and tight. Stop moved up to keep profits. Will make me break even on the day.
Whole upmove here on airlines has been on low vol + SPY not finding strength when it should means I should look to take this where I can.
Alright finally got a nice pop higher in SPY and internals. DAL still rising. Close to vwap. All airlines finding vol and rising. Ready to take half now on new 1min lo.
And out half. Not giving back .10cents for just 3 more. Stop in for last half under micro range.
SPY got to vwap and stalled, now breaking higher with internals.
.40 hit and we got a nice pop. Taking another half soon. And taken.
Decent minor TL to work with. We got to vwap, hovered around and sold off pretty good, found the sellers. Stop is just under this TL break. Stopped me out the rest and sell off got worse.
Kind of a tough day. BABA was the only real move that made a good move. ROKU was a long but offered no good entries. No regrets on BABA though, I couldve gone for that last short but wanted to wait for resolution, was just one of those times.
Happy to end green on the day. Not everyday is a day for me to make a killing but I stayed patient and took what looked good. Didnt force anything.
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