6/4 DRC
Yesterdays biggest problem was my own trading. I was too eager to put trades on at the start of the day and got caught trading against levels that:
1. Werent actually there
2. Never confirmed and held my above/my thesis
3. Never failed / rejected and claimed back under my level.
I settled for much less, got aggressive, and paid for it.
So todays goals, are to do the opposite of that.
Goals
1. Only take LT trades that have held above/under level.
2. If looking for F trades, only take them as they reclaim the level
-If I want short under 100 and price breaks 99.80 and gets to 100.20 on bullish action, I do not enter that trade until I see
-Notable selling pressure
-Price failing to stay above 100
There is a lot to look at today. Looking like its gonna be the big airline/cruise return short squeeze. Names getting crazy out there. Talk in twitter world is small caps are going crazy too. Going to have to stay focused today as theres going to be a lot of action.
Sticking with usual plans, waiting for HTF levels to hold and then get in.
COST
Giant range getting so tight for weeks. Coming up on top end of range breakout again. Nice scalp setup.
Got in and added as tape looked good. Broke ranage high and got a really nice candle to start. This name could blow up if its following the strength im seeing out there right now.
Took off add at first sign on R. Ran up to next D R level and found some trouble. Taking off core scalp on new 1min candle lo.
Made ATR move, seems strong still like its not done. Will just follow.
Pretty ridiculous move. Finally covered majority. Leaving tiny size to let go. Plans to add lower back around 313. Topped out 315.50 from entry at 311. Didnt hold a single level, kept waiting and waiting for a new bottom to come in, never came. Crazy. Stop is at breakeven.
Honestly amazing but COST reversed that entire move. from 311 to 315 all the way back to 311.
Came to vwap again and back lower. TL in play along with HTF zone around 312. Tried small size re entry. Couldnt hold. All out.
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Much later it slowly worked its way back above vwap and that HTF breakout range. I waited for a dip to get in and saw the buyers come in. Got a starter and added as we ticked higher. Flushed me out but quickly reclaimed and got back in. Vol is much bigger here.
Added as we ticked higher above 312
PLAY
Quick catch dip buy. Names rolled over into HTF bo levels, PLAY was right at one. Tried quick, couldnt. Out
AAL
Also rolled over lower, looked like it wanted lower but failed. Got a starter as it was failing a new breakdown and we saw buying come in.
Added as we ticked up twice. Reclaimed vwap and 13. Waiting for HOD. Seems to be the strongest of the airlines right now.
Sector kept moving higher on good buying tape and volume. Seems like just a matter of time before we get there. Stop at breakeven.
Also a 56% short float holy hell. Cant wait to see if that gets squeezed.
SPY just blasting off, other airlines reclaiming vwap right now. Should hold. AAL retracing a little bit.
Micro pivot at 13.10 found some new S and buying. Bounced back up. SPY is just blasting off right now. Maybe found a top, big doji. And is turning lower. Airlines sideways, AAL still strongest.
Came close to new HOD, huge vol increase.
HOD at .31 D bo at .41 which is into a gap fil to .91
DAL AAL UAL BA all sideways at the moment. Half under vwap half above. Coiling. Getting tight. Would love to see a pop higher but can see downside happening too.
We gapped higher in all, retraced lower found S, now do we continue uptrend or test lower again. Can argue these are extended on short term D.
DAL exploding higher, others lagging. BA trying now, UAL not. AAL struggling, huge volume increase above this .10 Will be new stop.
There is a hidden refresh seller here in AAL. Must be multi millions of shares. Cant believe the vol here and not going anywhere. Should be going, other names finding strength.
Names are getting very very tight right now. Have to give bias to the upside.
We got our break and it was glorious. Huge bust out into .60 before we saw sellers coming and stuff price lower. Took half off. Took other 50 off on next stuff. Getting v overextended. Made more than ATR move so didnt come into play. Letting original entry ride. Looking to add back at .30
AAL separate from the pack. None of the others seeing this strength.
Ridiculous moves out here. Went straight to 14 and found R. Looking to get all out here.
Borderline parabolic. Following 1min.
14.29 is 2ATR move. I have no other D levels until 15.22.
100% going para. over ext of TL. 15.12 3ATR. AMazing to watch this. Others doing same.
Sold all. We tapped 15 and saw it ocming in. Other airlines also started rolling over. All out for now. Plenty of cases for re entry.
Came back up to 15 again anyways. And busted it. Other airlines too. Little mad It went higher anyways, missed some more profit. But im happy with what I got.
SMAR
Gapper with news. Sold off all morning, Made a solid reversal pattern and got it.
No add and sellers are here, hidden and seem to be refreshing but so it buying.
Every buy that came just seemed to get stuffed. All out small L.
MORNING
Solid stuff. Its going to a busy day. Lots of squeezers out there looking for re entry at some point. Theres probably a lot of juice left in these names. Gotta find it.
PLAY
Another squeezer. Got above HTF levels and held around it. Theres a good TL to work with that would also be a failed breakdown. It broke lower into TL and found buyers coming in. I got a starter and just kept adding. Tape looked great.
Added again a we kept taking out big offers. Tape is nothing but buying. Pretty big here playing with house money.
PT is HOD 17.37, after that theres a D level at 17.80.
Vol into this HOD push is not strong. I have TL to work with here, if it fails I need to be out. We should be rolling higher with the rest of this market. We arent seeing it. Gotta let it breathe still.
There are sellers here decent sized offers near HOD. I have to treat this low vol attempt + tape action against me as warning signs. Were defending TL well, but there is a lack of umpf here. Either way were still up so let it be for now.
Made new HOD a big vol kick. Looks good now. Waiting to take partial.
Took quarter on 1st signs of sell. Other quarter on new 2min low.
Just hit 1ATR now at 17.63. Seeing some more selling. Dont matter, pushed higher.
Entire market rolling over lower. PLAY reacted, I covered other half. Parabolic tops saw some R.
Looks like I was wrong. Covered it early and made new highs. Still riding half. If this turns to be same case as AAL, will exit all on para move at some point.
Was wrong about that ATR comment. Now we just hit it at .72. And it did act as good R for a moment.
I have no other levels aside from 18.75 which is a big daily breakout point. Realistically, I actually do see it happening today. Just waiting.
I have one channel TL I am working with right now. A move above 18 will put it in play. If we get para into it, thatll be my que for early exit.
There is .50 cents worth of retracement in PLAY that can happen right now. I dont want to give that up but need to stay focused with process. Were just under 18 and seeing some selling come in. I think I just have to deal with it.
Yeah dumped .30 cents on me. Let it PLAY out.
All the names really rolling over lower now. PLAY no exception.
Morning euphoria is over. Looks like time to base out and find value. PLAY in contact with TL now fuck me that sucks to see. Just gave up 150+$ profits to wait on a pb.
Well at least we bounced from the TL. New stop is here.
When the market gives you a gift, take it, dont overstay your welcome. Risking .50 cents for .05 more doesnt make much sense does it. Think I should make special exceptions in cases like these. PLAY was due for a pb. and overextended short term. Maybe the rule should be to take majorty off and follow the 1min candle lows. Still leaving room to capture more upside, but limiting downside risk.
Stop is in, found good buying taking out large sell just above .50
SPY collapsing right now. Down a couple points. Squeezers remain strong but everything else is dumping.
And stopped out the rest. Gave .50 cents up. Never again.
Market is dumping pretty good right now. We will see where this day takes us.
DAL
Later in day after para move it coiled around a D high. and held. Broke lower from TL and under range and was bought back up so looked for entry. Distracted by a few other trades I went and settled for less size on breakout higher from range. Am fine with this.
Rest of airlines doing the same, look like they are all just waiting for moves higher again.
Moving along nicely. Solid uptrend breakout with volume.
Same as LUV broke lower into TL from LOD and prev pivot high. Good spot to look to add.
Theres a lot of big bids and offers. Nothing super clean but were moving higher. I added.
This new pivot low will be my stop for all.
Couldnt hold all out.
LUV
Just about same as DAL. Held above D level after testing under it. Got a starter on a range breakout higher.
Not as strong as the others. But still up and holding higher.
Broke range lower into TL from LOD. Low vol attempt, waiting to see if buyers can hold and add.
Couldnt hold a thing. Exited all in front of original stop. All airlines rolling over.
Was up very nice from the morning. Starting to give back a chunk. Giving myself one more trade.
Well had one shot at a DAL long it was after a triangle break higher, returned for a split moment, tapped the level never came back. That was it nothing else looked good for me.
Very solid day. Cant say I didnt anything special. Was there at the right times and market gave me some gifts.
Only regrets are not cutting PLAY faster as it was over extneded from 1 TL but not the other. Shouldve just taken it. Other is COST re entry long around vwap. Flat out too big.
Trading is such a weird thing. Theres not a single thing about today that I did to intentionally make this much money. Its just being a part of the market and if your get big wins, you get it. Just be there at the right times and click the button. Size and consistency are a different story but thats exactly what I did. Stuck with process, took trades I should have and the rest is up to the market gods.
You can always say i should have been bigger or this or that. And that goes for every trade. You just dont know. Manage risk 1st and profit will come when they are supposed to.
1. Werent actually there
2. Never confirmed and held my above/my thesis
3. Never failed / rejected and claimed back under my level.
I settled for much less, got aggressive, and paid for it.
So todays goals, are to do the opposite of that.
Goals
1. Only take LT trades that have held above/under level.
2. If looking for F trades, only take them as they reclaim the level
-If I want short under 100 and price breaks 99.80 and gets to 100.20 on bullish action, I do not enter that trade until I see
-Notable selling pressure
-Price failing to stay above 100
There is a lot to look at today. Looking like its gonna be the big airline/cruise return short squeeze. Names getting crazy out there. Talk in twitter world is small caps are going crazy too. Going to have to stay focused today as theres going to be a lot of action.
Sticking with usual plans, waiting for HTF levels to hold and then get in.
COST
Giant range getting so tight for weeks. Coming up on top end of range breakout again. Nice scalp setup.
Got in and added as tape looked good. Broke ranage high and got a really nice candle to start. This name could blow up if its following the strength im seeing out there right now.
Took off add at first sign on R. Ran up to next D R level and found some trouble. Taking off core scalp on new 1min candle lo.
Made ATR move, seems strong still like its not done. Will just follow.
Pretty ridiculous move. Finally covered majority. Leaving tiny size to let go. Plans to add lower back around 313. Topped out 315.50 from entry at 311. Didnt hold a single level, kept waiting and waiting for a new bottom to come in, never came. Crazy. Stop is at breakeven.
Honestly amazing but COST reversed that entire move. from 311 to 315 all the way back to 311.
Came to vwap again and back lower. TL in play along with HTF zone around 312. Tried small size re entry. Couldnt hold. All out.
-------------------------------------------------------------------
Much later it slowly worked its way back above vwap and that HTF breakout range. I waited for a dip to get in and saw the buyers come in. Got a starter and added as we ticked higher. Flushed me out but quickly reclaimed and got back in. Vol is much bigger here.
Added as we ticked higher above 312
PLAY
Quick catch dip buy. Names rolled over into HTF bo levels, PLAY was right at one. Tried quick, couldnt. Out
AAL
Also rolled over lower, looked like it wanted lower but failed. Got a starter as it was failing a new breakdown and we saw buying come in.
Added as we ticked up twice. Reclaimed vwap and 13. Waiting for HOD. Seems to be the strongest of the airlines right now.
Sector kept moving higher on good buying tape and volume. Seems like just a matter of time before we get there. Stop at breakeven.
Also a 56% short float holy hell. Cant wait to see if that gets squeezed.
SPY just blasting off, other airlines reclaiming vwap right now. Should hold. AAL retracing a little bit.
Micro pivot at 13.10 found some new S and buying. Bounced back up. SPY is just blasting off right now. Maybe found a top, big doji. And is turning lower. Airlines sideways, AAL still strongest.
Came close to new HOD, huge vol increase.
HOD at .31 D bo at .41 which is into a gap fil to .91
DAL AAL UAL BA all sideways at the moment. Half under vwap half above. Coiling. Getting tight. Would love to see a pop higher but can see downside happening too.
We gapped higher in all, retraced lower found S, now do we continue uptrend or test lower again. Can argue these are extended on short term D.
DAL exploding higher, others lagging. BA trying now, UAL not. AAL struggling, huge volume increase above this .10 Will be new stop.
There is a hidden refresh seller here in AAL. Must be multi millions of shares. Cant believe the vol here and not going anywhere. Should be going, other names finding strength.
Names are getting very very tight right now. Have to give bias to the upside.
We got our break and it was glorious. Huge bust out into .60 before we saw sellers coming and stuff price lower. Took half off. Took other 50 off on next stuff. Getting v overextended. Made more than ATR move so didnt come into play. Letting original entry ride. Looking to add back at .30
AAL separate from the pack. None of the others seeing this strength.
Ridiculous moves out here. Went straight to 14 and found R. Looking to get all out here.
Borderline parabolic. Following 1min.
14.29 is 2ATR move. I have no other D levels until 15.22.
100% going para. over ext of TL. 15.12 3ATR. AMazing to watch this. Others doing same.
Sold all. We tapped 15 and saw it ocming in. Other airlines also started rolling over. All out for now. Plenty of cases for re entry.
Came back up to 15 again anyways. And busted it. Other airlines too. Little mad It went higher anyways, missed some more profit. But im happy with what I got.
SMAR
Gapper with news. Sold off all morning, Made a solid reversal pattern and got it.
No add and sellers are here, hidden and seem to be refreshing but so it buying.
Every buy that came just seemed to get stuffed. All out small L.
MORNING
Solid stuff. Its going to a busy day. Lots of squeezers out there looking for re entry at some point. Theres probably a lot of juice left in these names. Gotta find it.
PLAY
Another squeezer. Got above HTF levels and held around it. Theres a good TL to work with that would also be a failed breakdown. It broke lower into TL and found buyers coming in. I got a starter and just kept adding. Tape looked great.
Added again a we kept taking out big offers. Tape is nothing but buying. Pretty big here playing with house money.
PT is HOD 17.37, after that theres a D level at 17.80.
Vol into this HOD push is not strong. I have TL to work with here, if it fails I need to be out. We should be rolling higher with the rest of this market. We arent seeing it. Gotta let it breathe still.
There are sellers here decent sized offers near HOD. I have to treat this low vol attempt + tape action against me as warning signs. Were defending TL well, but there is a lack of umpf here. Either way were still up so let it be for now.
Made new HOD a big vol kick. Looks good now. Waiting to take partial.
Took quarter on 1st signs of sell. Other quarter on new 2min low.
Just hit 1ATR now at 17.63. Seeing some more selling. Dont matter, pushed higher.
Entire market rolling over lower. PLAY reacted, I covered other half. Parabolic tops saw some R.
Looks like I was wrong. Covered it early and made new highs. Still riding half. If this turns to be same case as AAL, will exit all on para move at some point.
Was wrong about that ATR comment. Now we just hit it at .72. And it did act as good R for a moment.
I have no other levels aside from 18.75 which is a big daily breakout point. Realistically, I actually do see it happening today. Just waiting.
I have one channel TL I am working with right now. A move above 18 will put it in play. If we get para into it, thatll be my que for early exit.
There is .50 cents worth of retracement in PLAY that can happen right now. I dont want to give that up but need to stay focused with process. Were just under 18 and seeing some selling come in. I think I just have to deal with it.
Yeah dumped .30 cents on me. Let it PLAY out.
All the names really rolling over lower now. PLAY no exception.
Morning euphoria is over. Looks like time to base out and find value. PLAY in contact with TL now fuck me that sucks to see. Just gave up 150+$ profits to wait on a pb.
Well at least we bounced from the TL. New stop is here.
When the market gives you a gift, take it, dont overstay your welcome. Risking .50 cents for .05 more doesnt make much sense does it. Think I should make special exceptions in cases like these. PLAY was due for a pb. and overextended short term. Maybe the rule should be to take majorty off and follow the 1min candle lows. Still leaving room to capture more upside, but limiting downside risk.
Stop is in, found good buying taking out large sell just above .50
SPY collapsing right now. Down a couple points. Squeezers remain strong but everything else is dumping.
And stopped out the rest. Gave .50 cents up. Never again.
Market is dumping pretty good right now. We will see where this day takes us.
DAL
Later in day after para move it coiled around a D high. and held. Broke lower from TL and under range and was bought back up so looked for entry. Distracted by a few other trades I went and settled for less size on breakout higher from range. Am fine with this.
Rest of airlines doing the same, look like they are all just waiting for moves higher again.
Moving along nicely. Solid uptrend breakout with volume.
Same as LUV broke lower into TL from LOD and prev pivot high. Good spot to look to add.
Theres a lot of big bids and offers. Nothing super clean but were moving higher. I added.
This new pivot low will be my stop for all.
Couldnt hold all out.
LUV
Just about same as DAL. Held above D level after testing under it. Got a starter on a range breakout higher.
Not as strong as the others. But still up and holding higher.
Broke range lower into TL from LOD. Low vol attempt, waiting to see if buyers can hold and add.
Couldnt hold a thing. Exited all in front of original stop. All airlines rolling over.
Was up very nice from the morning. Starting to give back a chunk. Giving myself one more trade.
Well had one shot at a DAL long it was after a triangle break higher, returned for a split moment, tapped the level never came back. That was it nothing else looked good for me.
Very solid day. Cant say I didnt anything special. Was there at the right times and market gave me some gifts.
Only regrets are not cutting PLAY faster as it was over extneded from 1 TL but not the other. Shouldve just taken it. Other is COST re entry long around vwap. Flat out too big.
Trading is such a weird thing. Theres not a single thing about today that I did to intentionally make this much money. Its just being a part of the market and if your get big wins, you get it. Just be there at the right times and click the button. Size and consistency are a different story but thats exactly what I did. Stuck with process, took trades I should have and the rest is up to the market gods.
You can always say i should have been bigger or this or that. And that goes for every trade. You just dont know. Manage risk 1st and profit will come when they are supposed to.
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