6/2 DRC
Yesterday was a day to hit it hard. Very strong market, strong moves everywhere. Simple retest of levels to go long was where it was at. I expect to see the same today if given the same chances. Market is completely due for a deeper pullback, we keep getting tighter and tighter in this rising wedge. Wont fight the bullishness til I see the need to.
A lot to look at today. Airlines/cruise seem to want to pop again, only NCLH looking good enough to me to trade on a break. Lots of names super over extended and gapping even higher, will look for shorts on DKNG ZM ZS. Lots of solid breakouts GOOG COST NVAX VTIQ DDOG and a few continuation as they broke yesterday TSLA SHOP PTON BYND BNTX so plenty to watch today.
Was very patient yesterday in waiting for trades to come to me and act appropriate at levels/zones. Need to do the same today. Gotta be quick and able to catch the moves as they come to me. This market is hot and a one and done type scenario. That one may be my only shot for a good RR trade. No need to chase.
Goals
1. Stay aggro, add to the winners.
2. Best HTF trades hold clean and clear above/below levels. Do not take any that dont have clear signs of strength or weakness
3. Stay adaptable, lots of these shorts could turn to good longs and vice versa.
NCLH
V nice pmkt range just under 18. Took scalp to start the day above it. Small W.
VTIQ
Weak open, reclaimed HTF and vwap. Lost D bo level under vwap into 35. Saw a big buyer absorbing all the selling, got in in front of him couldnt hold it though got out.
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Later couldnt make LOD, still saw good buying and got back above vwap + HTF bo level. Watching for entry on pb to level and vwap.
Seeing buyers stepping up and chasing higher. No good RR trades yet though from tape. Made HH here so waiting for pb and buyers to be defending .40 + vwap
Buyers are stepping up I still do not want to chase this. This could be case for tiny size EE though. Still waiting for more action lower. Havent tested vwap.
Getting very tight wedge between vwap D level and this TL from HOD.
And now sellers coming in. I have to see this thing under vwap before entry.
Failing this triangle break higher, buyers preventing it from even getting to vwap. Sellers unable. Just gotta wait. Vol drying up a ton. Very slow. SPY ripping higher.
Blew up without me. Is ok, will wait.
Ended up failing a break higher and turned into a break lower. Watching now for entry on failed breakdown.
Spotted hidden buyer and got in in front. He broke and we busted .40 cents lower. Got crushed on exit, is what it is. Was small size though thank god.
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Came down to prev HOD on decent vol. Looking to see if theres a dip buy down here. Or a short now back at vwap.
Well broke minor TL and got back above. Well see about the long again.
Buyers here again under vwap. Didnt hold though.
Falied lower on dead volume. Trying back above again. TL very tight. Watching tpae for possible breakout entry here. SPY v weak though. New LOD and getting ugly.
VTIQ not weak at all compared to market. Holding higher and tighter. Big sell at .50 he breaks im in some.
We broke and im in. Added as buying was fantastic. Broke TL and recent pivot on huge vol increase. Not near as big as id like to be, but taking what I can get. Looking for 37 break. Stop under vwap.
We exploded and got there real quick into a big wall of selling. I am out majority right now, planning on reloading on a retest. Not going to give profit up.
Looks to go straight to HOD. Makes sense to hold, makes sense to take it while I got it. Market is not strong right now but that didnt mean anything. I want to get in again at a lower price, it makes sense for it to do exactly that.
Made new HOD into 38 where we got at least 50k on offer, not to mention around it. We filled an ATR move on that push, from previous pivot low we need 38.50. Was also pmkt high.
I chased out last partial as it dumped lower. Wanting back in at TL retest or vwap.
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Candles getting ridiculous. A dollar and a half in a minute move. Under 36 is excellent spot for re entry. BO pivot, VWAP and TL.
I am flat out not getting filled on this name with split limit orders so Im going to start taking a penny off the ask for each entry. Trade station has a shave function.
Alright crashed right back down to it and got in tiny size to start.
Good buying came in, got above 36 and added again.
Again tried lower, failed to find selling came back up added. Added more on rebreak of 36 back to full size. Nice stop under this spike low.
Added more in front of big bid that stepped into 36. More just under him too
Must remember tape is going to be slowed down a bit now as it should be on this pb. Cant expect an immediate blow up again. Will take a moment to regroup, build up some gas for another move. As long as I continue seeing bids here and stepping up, and above TL and 36 we are good.
Added on big bid coming in.
Stop is now a hold under 36.
Big offer at .40 lets see. Big bid still here, not taken out. Op now he did. 36 even bigger bid.
Broker under 36 and flushed pretty good. Looking to save this if I can back at 36.
Ok ripped back above 36 to .40 again, then lost it again and I got out. Saved a huge loss. Still looking to get back in, but needs to give me more lower again.
Excellent exit. Saved a 100$+ loss
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Lost all the levels and dumped hard into major intraday TL from LOD and other HTF level of prev LOD. Its getting too far too fast im looking to buy this if it can just dump a little more under 34.50
Just kept getting worse. Never saw the shortside coming, probably why it was such a good dump.
PLNT
Reversal. Solid overextension. Parabolic. With vol and tape cues. Got in a bit early, added once it retried new candle lows. Waiting for TL break lower to take off.
Took half off on 1st sign of buyers coming back in. Last half to ride. Trade should not return at all. Looking for slingshot back lower. Following 1min highs to stop out.
Slowly drifted lower, exactly what I like to see a picture perfect reversal. Made under 72 taking half off soon.
Took off as we made contact with other TL from LOD. Other half off above72. And all out.
AFTERNOON
Well its only an hour and a half into the day and it seems my opportunities are drying up fast and quick. Of all the names I had earlier looks like VTIQ and PTON maybe will be the only ones at locations im interested in trading at.
11AM
Well everything is broken to me. I see no trade, no structure looking good. Im going to call it a morning and workout earlier than usual. Ill come back to the desk Later and see whats good.
Trading was great today. A+ very happy. Took my trades where I should, stepped on the gas when I could, caught some nice wins. Cut that VTIQ loser before it got ugly. Good tuesday.
A lot to look at today. Airlines/cruise seem to want to pop again, only NCLH looking good enough to me to trade on a break. Lots of names super over extended and gapping even higher, will look for shorts on DKNG ZM ZS. Lots of solid breakouts GOOG COST NVAX VTIQ DDOG and a few continuation as they broke yesterday TSLA SHOP PTON BYND BNTX so plenty to watch today.
Was very patient yesterday in waiting for trades to come to me and act appropriate at levels/zones. Need to do the same today. Gotta be quick and able to catch the moves as they come to me. This market is hot and a one and done type scenario. That one may be my only shot for a good RR trade. No need to chase.
Goals
1. Stay aggro, add to the winners.
2. Best HTF trades hold clean and clear above/below levels. Do not take any that dont have clear signs of strength or weakness
3. Stay adaptable, lots of these shorts could turn to good longs and vice versa.
NCLH
V nice pmkt range just under 18. Took scalp to start the day above it. Small W.
VTIQ
Weak open, reclaimed HTF and vwap. Lost D bo level under vwap into 35. Saw a big buyer absorbing all the selling, got in in front of him couldnt hold it though got out.
--------------------------------------------------------------------
Later couldnt make LOD, still saw good buying and got back above vwap + HTF bo level. Watching for entry on pb to level and vwap.
Seeing buyers stepping up and chasing higher. No good RR trades yet though from tape. Made HH here so waiting for pb and buyers to be defending .40 + vwap
Buyers are stepping up I still do not want to chase this. This could be case for tiny size EE though. Still waiting for more action lower. Havent tested vwap.
Getting very tight wedge between vwap D level and this TL from HOD.
And now sellers coming in. I have to see this thing under vwap before entry.
Failing this triangle break higher, buyers preventing it from even getting to vwap. Sellers unable. Just gotta wait. Vol drying up a ton. Very slow. SPY ripping higher.
Blew up without me. Is ok, will wait.
Ended up failing a break higher and turned into a break lower. Watching now for entry on failed breakdown.
Spotted hidden buyer and got in in front. He broke and we busted .40 cents lower. Got crushed on exit, is what it is. Was small size though thank god.
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Came down to prev HOD on decent vol. Looking to see if theres a dip buy down here. Or a short now back at vwap.
Well broke minor TL and got back above. Well see about the long again.
Buyers here again under vwap. Didnt hold though.
Falied lower on dead volume. Trying back above again. TL very tight. Watching tpae for possible breakout entry here. SPY v weak though. New LOD and getting ugly.
VTIQ not weak at all compared to market. Holding higher and tighter. Big sell at .50 he breaks im in some.
We broke and im in. Added as buying was fantastic. Broke TL and recent pivot on huge vol increase. Not near as big as id like to be, but taking what I can get. Looking for 37 break. Stop under vwap.
We exploded and got there real quick into a big wall of selling. I am out majority right now, planning on reloading on a retest. Not going to give profit up.
Looks to go straight to HOD. Makes sense to hold, makes sense to take it while I got it. Market is not strong right now but that didnt mean anything. I want to get in again at a lower price, it makes sense for it to do exactly that.
Made new HOD into 38 where we got at least 50k on offer, not to mention around it. We filled an ATR move on that push, from previous pivot low we need 38.50. Was also pmkt high.
I chased out last partial as it dumped lower. Wanting back in at TL retest or vwap.
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Candles getting ridiculous. A dollar and a half in a minute move. Under 36 is excellent spot for re entry. BO pivot, VWAP and TL.
I am flat out not getting filled on this name with split limit orders so Im going to start taking a penny off the ask for each entry. Trade station has a shave function.
Alright crashed right back down to it and got in tiny size to start.
Good buying came in, got above 36 and added again.
Again tried lower, failed to find selling came back up added. Added more on rebreak of 36 back to full size. Nice stop under this spike low.
Added more in front of big bid that stepped into 36. More just under him too
Must remember tape is going to be slowed down a bit now as it should be on this pb. Cant expect an immediate blow up again. Will take a moment to regroup, build up some gas for another move. As long as I continue seeing bids here and stepping up, and above TL and 36 we are good.
Added on big bid coming in.
Stop is now a hold under 36.
Big offer at .40 lets see. Big bid still here, not taken out. Op now he did. 36 even bigger bid.
Broker under 36 and flushed pretty good. Looking to save this if I can back at 36.
Ok ripped back above 36 to .40 again, then lost it again and I got out. Saved a huge loss. Still looking to get back in, but needs to give me more lower again.
Excellent exit. Saved a 100$+ loss
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Lost all the levels and dumped hard into major intraday TL from LOD and other HTF level of prev LOD. Its getting too far too fast im looking to buy this if it can just dump a little more under 34.50
Just kept getting worse. Never saw the shortside coming, probably why it was such a good dump.
PLNT
Reversal. Solid overextension. Parabolic. With vol and tape cues. Got in a bit early, added once it retried new candle lows. Waiting for TL break lower to take off.
Took half off on 1st sign of buyers coming back in. Last half to ride. Trade should not return at all. Looking for slingshot back lower. Following 1min highs to stop out.
Slowly drifted lower, exactly what I like to see a picture perfect reversal. Made under 72 taking half off soon.
Took off as we made contact with other TL from LOD. Other half off above72. And all out.
AFTERNOON
Well its only an hour and a half into the day and it seems my opportunities are drying up fast and quick. Of all the names I had earlier looks like VTIQ and PTON maybe will be the only ones at locations im interested in trading at.
11AM
Well everything is broken to me. I see no trade, no structure looking good. Im going to call it a morning and workout earlier than usual. Ill come back to the desk Later and see whats good.
Trading was great today. A+ very happy. Took my trades where I should, stepped on the gas when I could, caught some nice wins. Cut that VTIQ loser before it got ugly. Good tuesday.
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