7/16 DRC
Today is SQUEEZE day. The usual suspects are making moves. Yesterday had big up days with vol, breaking HTF patterns to the upside, all with giant short floats, some looking super clean, others still good. Looking for the best ones to match my levels and go from there. There will be a lot to look at today, and more likely than not, they will all be following each other and going at the same time.
Noticing the discrepancies is going to be the big things for me. If they are all moving at once, which ones are closest to my levels? Had they pbd and held them? Can I get in on a new pb? Scalp breakouts?
Going to have to be on my game today, cant be late to the party.
BUT, must remember to play my game. If I miss, I miss. If it doesnt give me what I want, then I pass. Cannot force trades just because I get FOMO and want to be in something.
COST L
NKLA L
WW L
JBLU L (rel strength + news)
M L
MGM L
PLAY L
CAKE L
ACB L
CGC L
TLRY L
SPY gapping down decently, China down pretty big, no surprise there its about time for a pb. Kind of ruining my plans to start the day, at least from what id want to see. Was hoping to see us either flat or small gap up. Now we will have to recover some ground just to even get to levels im interested in getting long off of. Could just be another giant failure and we sell off. If that happens, I do have levels labeled to get short off of to, just not interested in shorting any of the 'squeezers.'
1. Stay aggressive
2. Dont take any trade that is not your edge. That means clearly holding above HTF levels
3. Dont get caught up in trading big off of lesser levels. Remember which levels are most important.
4. No FOMO.
-Market opening slightly weak, everything pulling down a bit. Not a big selloff, internals getting stronger pulling up. All squeezers currently out of play. Only a couple to watch atm.
-SPY failing a HOD break, turning lower back to vwap and losing it too
-Not for long, back up with internals even stronger. SPY new HOD.
-Rolled over to new LOD and bounced.
-Stuck in middle for a while, after testing below vwap and pivot, got bought up and internals followed. We look to go higher.
TSLA
Strong open, pulled back to HTF zone and saw good buyers. Got in and added as we stepped up but didnt last long and out under big bid break.
----------------------------------------------------
SPY dropped to LOD and pulled into vwap, TSLA pulled up to TL + top of HTF zone.
Pulled up to TL and saw decent selling, got short. Off of nice offer. SPY testing above vwap but failing coming back lower with internals
Added again once we stalled for a moment and dropped lower. And stopped.
-------------------------------------------------------------
Making big triangle again after failing a break both directions. May be because of SPY sideways action. Could be either good long or short, waiting for failure on either end. Seems like a better short at the moment. SPY weak under vwap with internal weak.
Tried once quick in and out for loss. Tried again on real failure and got it and added twice. SPY looks to turn lower, TSLA same, good cues.
Good rejection to star on both SPY and TSLA, now both turning up breaking TL and looking to move higher. Could still fail though, vol is low and internals split, not quite making HH yet on one.
Sellers have been her and holding price lower. Vol still v low but right next to stop. Unable to hold stopped out. SPY failed and dropped lower, TSLA ripped several points higher.
BA
Weak all day headed slowly into HTF zone. We got over extension from TL lower and saw a good amount of selling. And then I saw big bids come in and I got in front. Tried once didnt go higher, but still here looking for good RR trade.
Very uneventful 1st half. I probably could have gone with taking 0 trades. Nothing is super clear, SPY is sideways cant make up its mind. Looking for late day squeezes I suppose. Maybe things can start turning up.
I think today I tried to be smarter than the market. I was all prepared to do so much and have so much to look at, that I ended up trading lesser ideas when i could have just sat and waited. I took a lot of TSLA trades that could have worked sure, but these are not high probability trades. Theres nothing here to really trade around besides 2 days ago S level, which held several times, but I went short into it.
The levels I traded off of were not that significant. Its not my A+ setups.
That added with SPYs complete indecisiveness really should have led me to stay and wait for something good.
After today I have made my risk plan, put it on sticky note on monitor. Need to adjust size better.
Noticing the discrepancies is going to be the big things for me. If they are all moving at once, which ones are closest to my levels? Had they pbd and held them? Can I get in on a new pb? Scalp breakouts?
Going to have to be on my game today, cant be late to the party.
BUT, must remember to play my game. If I miss, I miss. If it doesnt give me what I want, then I pass. Cannot force trades just because I get FOMO and want to be in something.
COST L
NKLA L
WW L
JBLU L (rel strength + news)
M L
MGM L
PLAY L
CAKE L
ACB L
CGC L
TLRY L
SPY gapping down decently, China down pretty big, no surprise there its about time for a pb. Kind of ruining my plans to start the day, at least from what id want to see. Was hoping to see us either flat or small gap up. Now we will have to recover some ground just to even get to levels im interested in getting long off of. Could just be another giant failure and we sell off. If that happens, I do have levels labeled to get short off of to, just not interested in shorting any of the 'squeezers.'
1. Stay aggressive
2. Dont take any trade that is not your edge. That means clearly holding above HTF levels
3. Dont get caught up in trading big off of lesser levels. Remember which levels are most important.
4. No FOMO.
-Market opening slightly weak, everything pulling down a bit. Not a big selloff, internals getting stronger pulling up. All squeezers currently out of play. Only a couple to watch atm.
-SPY failing a HOD break, turning lower back to vwap and losing it too
-Not for long, back up with internals even stronger. SPY new HOD.
-Rolled over to new LOD and bounced.
-Stuck in middle for a while, after testing below vwap and pivot, got bought up and internals followed. We look to go higher.
TSLA
Strong open, pulled back to HTF zone and saw good buyers. Got in and added as we stepped up but didnt last long and out under big bid break.
----------------------------------------------------
SPY dropped to LOD and pulled into vwap, TSLA pulled up to TL + top of HTF zone.
Pulled up to TL and saw decent selling, got short. Off of nice offer. SPY testing above vwap but failing coming back lower with internals
Added again once we stalled for a moment and dropped lower. And stopped.
-------------------------------------------------------------
Making big triangle again after failing a break both directions. May be because of SPY sideways action. Could be either good long or short, waiting for failure on either end. Seems like a better short at the moment. SPY weak under vwap with internal weak.
Tried once quick in and out for loss. Tried again on real failure and got it and added twice. SPY looks to turn lower, TSLA same, good cues.
Good rejection to star on both SPY and TSLA, now both turning up breaking TL and looking to move higher. Could still fail though, vol is low and internals split, not quite making HH yet on one.
Sellers have been her and holding price lower. Vol still v low but right next to stop. Unable to hold stopped out. SPY failed and dropped lower, TSLA ripped several points higher.
BA
Weak all day headed slowly into HTF zone. We got over extension from TL lower and saw a good amount of selling. And then I saw big bids come in and I got in front. Tried once didnt go higher, but still here looking for good RR trade.
Very uneventful 1st half. I probably could have gone with taking 0 trades. Nothing is super clear, SPY is sideways cant make up its mind. Looking for late day squeezes I suppose. Maybe things can start turning up.
I think today I tried to be smarter than the market. I was all prepared to do so much and have so much to look at, that I ended up trading lesser ideas when i could have just sat and waited. I took a lot of TSLA trades that could have worked sure, but these are not high probability trades. Theres nothing here to really trade around besides 2 days ago S level, which held several times, but I went short into it.
The levels I traded off of were not that significant. Its not my A+ setups.
That added with SPYs complete indecisiveness really should have led me to stay and wait for something good.
After today I have made my risk plan, put it on sticky note on monitor. Need to adjust size better.
Comments
Post a Comment