8/19 DRC
Shaping up for a busy day again. Lots to look at, SPY broke ATH pre market, now fading off. Still a repeat of yesterday. Lots of attempted breakdowns failing, looking to reclaim. Lots of consolidation looking to breakout. Lots of news out there. Busy market. Have to be on my A game again. Ready to go.
Yesterday was a little tough. DKNG was the only name I could really trade around, And I got chopped up a lot. Must be sure to remain patient and trade only those that are showing strength and above levels.
1. Take the trade if it is there and and you see it. No time to waste.
2. Follow PT rules.
3. Get in, if missed best entry. Smaller size.
FB AMZN NFLX GOOG ROKU DKNG DDOG WORK WW ZM RCL AXDX
BMRN
breaking news. Beat down all pre market. Starting to see relief into open with nice top base. Going scalp long at bell.
MRNA
Nice pop at open above big HTF zone. Bade range above and vwap. Want breakdown bought for long.
Welll got what I wanted with A+ signs. As it reversed we saw huge bid come in and follow price. Made new HOD and stuffed on me hard. Ending up with small win. Want back in if here.
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Got re entry shortly after. Pulled into vwap 67 and held, and got in when we popped. Added when we popped again. And again
SPY is weak at new LOD but failed coming back up. Tape here on MRNA still ok. Bids are here so gotta wait it out.
And SPY just turned to new LOD right as I said that. RVOL only .3. Well need SPY it seems.
Turned up breaking huge offers. new HOD looks likely. Dont even have half of same size I did and thats fine.
Pennys short. Warning signs again like last time. Will have to exit small loss if I must. Came to breakeven and held so lucky me nice spot to be all out. And all out breakeven. Annoying.
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Seeing a lot of selling higher up stilll. Want a dip buy back in. SPY again breaking down.
Broke down vwap into TL and HTF zone again and saw big bids again back in bigger size. Good start too. Coiling for some time now needs to find it or sell off is ugly. SPY back up again.
Offers still up here again as we move higher. Still breaking them though.
Back to pennys short of HOD and we are through. Im being more proactive taking profits. We are seeing selling and failure here again so im out half early. Fine with it locking it in.
Now if we see more failure and sell more here I will be all out early on new 1min low. So far we are ok. Good not great.
New hod push again, i mean its not special we got big vol but candles are not matching what they should be doing according to vol. Will be out majority on new 1min lo to let rest go. There is buying here, but also selling.
Following. Sucks guess bad read. Follow PT rules. Monster win. Choked in half again. Out most.
Made new HOD on super light vol, using 9ema as exit. Close under out. Needs to pb deep.
I lied, theres a better spot, recent pivot at 68.15 will include 20sma
As for HTF stopping points, we are at a good spot right now. Few days ago tight range around 68.30-.50. If we can get through, which it seems we are trying, prev hod at 69.70 doesnt seem impossible. 1ATR will be 70.45. A MM would be 68.60 which we are just under right now. Were wedging out higher with lo vol, it seems more than likely this will be a deep pullback. Increasing stop some more. Following 20.
I lied again, following 9. Past 20 candles respecting, just waiting for it to drop it.
And there it is, and there it foes. 25k on offer showed up. Wow and another.
AMD
weak all open, back to vwap + prev lod looking for failed break higher to short.
Wasnt watching at right time, something feels off. Waiting for better confirmation. Could just get in as it is failing lower. Need to see vwap test again I think. Doesnt seem right yet.
Dropping lower, maybe I miss it I think thats alright. I want prev lod test at 81 again before short.
Well guess I made the right call to avoid. Back above new highs and vwap.
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Later on did fail and get back under all and then some no pullbacks, waiting for one for the short.
Pulled up, hit prev lod, sold off, didnt catch, might retest again for best entry case.
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Much later came up to vwap + 81 + htf prev lod + huge offer, looking for short. Came to lod but didnt break. Seeing some relief here, I want to see this offer break and reclaim under again.
Got above, big vol done, not going anywhere the sell is here. Tough to see entry though. TL just under price holding it up and top TL just above. Edge goes to bulls ill have to wait for either huge sell or break down of tl and retest of vwap.
Hung above for sometime, broke TL and failed to rise anymore, now back under level and vwap and looking for return to get short.
Lots of confluence right now if it can get there. We have lo volume bringing us back under. TL + vwap + prev lod + 81+ MAs now under + top of VA. Great spot if it can give it to me.
SMH and NVDA also weak and rolling over after failing higher. Need best RR here, may have to settle small size on breakout. Ok with that I like the trade.
Got above and big bid came in holding it up at 81. Once we broke him lower I was in and added as we dropped more. Now holding well under 81.
Max size when we lost micro range. We need to beat a couple levels here. 1 is new TL but its not really significant. 2nd is old DBO level at .85 then LOD is 80.45.
Great flush to start with vol kick, looks great for continuation. SMH and NVDA also pulling in lower with vol.
Under .85 now good stuff. SPY also turning lower. Now up 2R so stop at win.
Broke big pivot there, so far no big flush like I think we should. Warning signs. Stop in at 50% retrace. We should 100% be gone lower here. No doubt. All signs pointing lower.
We just cant seem to drop it here. Vol is ok, now sideways action though. Going to keep following 50% here for take all off.
Guess I should keep in mind its a slow day, AMD at .4 RVOL. mid afternoon. Should reduce expectations and expect things to be a bit slower, but not by much with these conditions. Holding out for LOD
Made new low again here. Stop up a bit more.
Bottom of VA is 80.70 were stuck at 80.80 stop at 80.86 I mean we are moving lower, just not the action I want to see.
Am now up 3R stop set to +1R which would give it more space than 50% retrace now. Sticking with 50% Following price. VOl on this move lower is average. MAs helping and look real nice. I am seeing buying, we are getting to bottom of VA so this is chance for others to buy. Tough call here I think.
Seeing more buying now from low .70s.
.81 and .80 have held under well, will be stop. SPY still dumping, SMH lost vwap and looks to go lower, NVDA strong ripped to breaking point. Actually looks like a decent scalp long.
Vol drying on last attempt lower, seems ready for pb. Damn son. That was a beautiful setup that is failing on me too damn bad. Whole time weve been moving lower, its on less vol, buying is winning still, no major offers in. Tape is all blue. Candles thinning out getting smaller and tighter.
Just when we looked like we were going to lose 9ema and curl higher, big sell hit the bid dropped made new low into .70 bottom of VA. We shall see hopes not high. SPY getting very weak crashing lower. Now worried about it bouncing and ripping back up. TOo far too fast. AMD seems like its just waiting for SPY to turn.
Also noticing AMD found a lot of Support here at .70 high .60s earlier in day. Why not find it again. Stop following action.
SPY is bouncing. And thats what I am afraid of. Mega .15 rip stopped me out.
Reasons are here to get back in at TL + prev pivot level + HTF breakout level. Have to see it.
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Turned and did make new low on v low volume, still thinking ill get the pb.
Breaking TL up now, .87 is where I want.
Now making nice range with top at 80.84, need to break it for me to want short again. Market gaining some strength, SPY around vwap, internals up. AMD back to test TL again, still no vol cues.
Broke lower with volume as SPY turned broke higher with volume. Will be patient, not chasing.
And getting my wish. Major TL right on top of .87, real nice tight .04 cent zone here to short against. Big offer at .84 if we can get above and reclaim thats my in.
Some big numbers around here. Big bids are stepping up.
Volume is completely on buy side. Got above and big bids followed. Shorts probably getting wrecked here. Will have to reset later on if I have time to watch,
CCL
Beatdown was not on schedule today. And here they are ripping higher. Cruise mainly.
RCL leading but CCL giving setup at vwap. Just getting here for 2nd time, MAs coiled above, seems ill need to wait for breakdown to get bought or just wait til it looks better.
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Reset later and dipped under and failed and im back in, Other cruise curling higher. MAs not super helpful yet but we cant drop lower.
Tape was good,m we had thick bids. Vol slow
Couldnt hold anything though, all out.
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Didnt drop any lower, just coiling above vwap. Vol super low here, seems like upside still possible, Leader RCL is weak but maybe ready to turn up.
Got range break and im back in bigger size. All turning up now with SPY, Above 9/20 needs above 15 for best case. Small vol kick. Needs to go.
Bids and buying is here, we look good for a move higher now. Stop tight.
SPY helping, others not so much. Good tape action, until we didnt anymore. Just barely hanging on it seems. Stop same. Can still go but not A+ atm. Will only do it if RCL and NCLH do it too. They are turning up now, CCL the strognest with the shallowest pb lower.
Back at micro high. Tape ok. Bids still here, so are offers though. RCL rip higher above htf level. CCL new micro range high into 14.99. Needs 15.01 PT at 15.13
And theres 15. Risked .04 cents for .20. Up .04 now stop needs to be breakeven still. So stuck waiting still. Have to worry about making money not being right. In this case saving money. Stop is a penny under breakeven. We came hit my breakeven and bounced up quickly to 15 again. Good spot. other cruise failing dropping lower again.
And all out, RCL dumping hard.
NFLX
Weak open, reclaimed vwap and dbo level for big TL break. Made range above it and vwap, breaking down, looking for it to get bought up.
Took a while, dipped very low but back up and above. Waiting on pb to long.
Got it and saw it, big bid stepped in and I was in, couldnt hold and out.
Got right back in as it was a repeat of same thing, bids came in and back in and added twice.
Very tight range here, needs 489.30 for break higher. Vol thinning already though. Problem. SPY dipped lower hard and came back up.
Pretty quiet tape, slow. RVOL .5 held breakeven a few times, Will be stop. No need to lose big here. All MAs under now, turning point here as SPY also up to new HOD. Needs to go now. If not definitely out breakeven.
Vol so low and slow here. Gotta be warning signs. We need to be gone.
And SPY turned lower hard, real hard, NFLX followed all out. Garbage.
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Didnt drop any lower, big bid came in tried to get in in front cant. Waiting to see him again maybe or some reason to get back in at HTF.
Broke the range high and saw no pop. Maybe ill get lucky with a pb here to get in.
FB
Strong all day, big breakout. Retraced it for last 2 hours and just now seeing big vol spike and price jump higher from TL break. Looking for quick pb to bo level at 266 for long.
Coming down into level and TL. Not seeing much yet. Market is strong.
Well not stopping on its way down. 265.45 is big intraday level thats been holdng. VWAP at .33 and prev hod/dbo level at 265.15. Might find something down here on a failed breakdown.
Not many mistakes today. mainly revolved around NFLX giving it too much space and time. Taking L when should be small win, and big loss when should be small. MRNA was great. Hung in there, waited for it, exited when I should, got back in when I should. CCL was a bit iffy. I lost $174 on the name and risked $282 on it. For a name that wasnt A+ nor 10star, nor on my watchlist. Thats too much money down. Yeah it coldve been a big blow up day for cruise, but RCL had already failed and lost vwap and weak, CCL under major MAs and failed a break higher. I think I was flat out too big on those trades. Cut in half.
AMD a solid win couldve had a nicer drop for me but made sure I left with something.
Solid day really, not much to say. Trading well, lets keep it that way. Size management always something to work on.
Yesterday was a little tough. DKNG was the only name I could really trade around, And I got chopped up a lot. Must be sure to remain patient and trade only those that are showing strength and above levels.
1. Take the trade if it is there and and you see it. No time to waste.
2. Follow PT rules.
3. Get in, if missed best entry. Smaller size.
FB AMZN NFLX GOOG ROKU DKNG DDOG WORK WW ZM RCL AXDX
BMRN
breaking news. Beat down all pre market. Starting to see relief into open with nice top base. Going scalp long at bell.
MRNA
Nice pop at open above big HTF zone. Bade range above and vwap. Want breakdown bought for long.
Welll got what I wanted with A+ signs. As it reversed we saw huge bid come in and follow price. Made new HOD and stuffed on me hard. Ending up with small win. Want back in if here.
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Got re entry shortly after. Pulled into vwap 67 and held, and got in when we popped. Added when we popped again. And again
SPY is weak at new LOD but failed coming back up. Tape here on MRNA still ok. Bids are here so gotta wait it out.
And SPY just turned to new LOD right as I said that. RVOL only .3. Well need SPY it seems.
Turned up breaking huge offers. new HOD looks likely. Dont even have half of same size I did and thats fine.
Pennys short. Warning signs again like last time. Will have to exit small loss if I must. Came to breakeven and held so lucky me nice spot to be all out. And all out breakeven. Annoying.
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Seeing a lot of selling higher up stilll. Want a dip buy back in. SPY again breaking down.
Broke down vwap into TL and HTF zone again and saw big bids again back in bigger size. Good start too. Coiling for some time now needs to find it or sell off is ugly. SPY back up again.
Offers still up here again as we move higher. Still breaking them though.
Back to pennys short of HOD and we are through. Im being more proactive taking profits. We are seeing selling and failure here again so im out half early. Fine with it locking it in.
Now if we see more failure and sell more here I will be all out early on new 1min low. So far we are ok. Good not great.
New hod push again, i mean its not special we got big vol but candles are not matching what they should be doing according to vol. Will be out majority on new 1min lo to let rest go. There is buying here, but also selling.
Following. Sucks guess bad read. Follow PT rules. Monster win. Choked in half again. Out most.
Made new HOD on super light vol, using 9ema as exit. Close under out. Needs to pb deep.
I lied, theres a better spot, recent pivot at 68.15 will include 20sma
As for HTF stopping points, we are at a good spot right now. Few days ago tight range around 68.30-.50. If we can get through, which it seems we are trying, prev hod at 69.70 doesnt seem impossible. 1ATR will be 70.45. A MM would be 68.60 which we are just under right now. Were wedging out higher with lo vol, it seems more than likely this will be a deep pullback. Increasing stop some more. Following 20.
I lied again, following 9. Past 20 candles respecting, just waiting for it to drop it.
And there it is, and there it foes. 25k on offer showed up. Wow and another.
AMD
weak all open, back to vwap + prev lod looking for failed break higher to short.
Wasnt watching at right time, something feels off. Waiting for better confirmation. Could just get in as it is failing lower. Need to see vwap test again I think. Doesnt seem right yet.
Dropping lower, maybe I miss it I think thats alright. I want prev lod test at 81 again before short.
Well guess I made the right call to avoid. Back above new highs and vwap.
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Later on did fail and get back under all and then some no pullbacks, waiting for one for the short.
Pulled up, hit prev lod, sold off, didnt catch, might retest again for best entry case.
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Much later came up to vwap + 81 + htf prev lod + huge offer, looking for short. Came to lod but didnt break. Seeing some relief here, I want to see this offer break and reclaim under again.
Got above, big vol done, not going anywhere the sell is here. Tough to see entry though. TL just under price holding it up and top TL just above. Edge goes to bulls ill have to wait for either huge sell or break down of tl and retest of vwap.
Hung above for sometime, broke TL and failed to rise anymore, now back under level and vwap and looking for return to get short.
Lots of confluence right now if it can get there. We have lo volume bringing us back under. TL + vwap + prev lod + 81+ MAs now under + top of VA. Great spot if it can give it to me.
SMH and NVDA also weak and rolling over after failing higher. Need best RR here, may have to settle small size on breakout. Ok with that I like the trade.
Got above and big bid came in holding it up at 81. Once we broke him lower I was in and added as we dropped more. Now holding well under 81.
Max size when we lost micro range. We need to beat a couple levels here. 1 is new TL but its not really significant. 2nd is old DBO level at .85 then LOD is 80.45.
Great flush to start with vol kick, looks great for continuation. SMH and NVDA also pulling in lower with vol.
Under .85 now good stuff. SPY also turning lower. Now up 2R so stop at win.
Broke big pivot there, so far no big flush like I think we should. Warning signs. Stop in at 50% retrace. We should 100% be gone lower here. No doubt. All signs pointing lower.
We just cant seem to drop it here. Vol is ok, now sideways action though. Going to keep following 50% here for take all off.
Guess I should keep in mind its a slow day, AMD at .4 RVOL. mid afternoon. Should reduce expectations and expect things to be a bit slower, but not by much with these conditions. Holding out for LOD
Made new low again here. Stop up a bit more.
Bottom of VA is 80.70 were stuck at 80.80 stop at 80.86 I mean we are moving lower, just not the action I want to see.
Am now up 3R stop set to +1R which would give it more space than 50% retrace now. Sticking with 50% Following price. VOl on this move lower is average. MAs helping and look real nice. I am seeing buying, we are getting to bottom of VA so this is chance for others to buy. Tough call here I think.
Seeing more buying now from low .70s.
.81 and .80 have held under well, will be stop. SPY still dumping, SMH lost vwap and looks to go lower, NVDA strong ripped to breaking point. Actually looks like a decent scalp long.
Vol drying on last attempt lower, seems ready for pb. Damn son. That was a beautiful setup that is failing on me too damn bad. Whole time weve been moving lower, its on less vol, buying is winning still, no major offers in. Tape is all blue. Candles thinning out getting smaller and tighter.
Just when we looked like we were going to lose 9ema and curl higher, big sell hit the bid dropped made new low into .70 bottom of VA. We shall see hopes not high. SPY getting very weak crashing lower. Now worried about it bouncing and ripping back up. TOo far too fast. AMD seems like its just waiting for SPY to turn.
Also noticing AMD found a lot of Support here at .70 high .60s earlier in day. Why not find it again. Stop following action.
SPY is bouncing. And thats what I am afraid of. Mega .15 rip stopped me out.
Reasons are here to get back in at TL + prev pivot level + HTF breakout level. Have to see it.
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Turned and did make new low on v low volume, still thinking ill get the pb.
Breaking TL up now, .87 is where I want.
Now making nice range with top at 80.84, need to break it for me to want short again. Market gaining some strength, SPY around vwap, internals up. AMD back to test TL again, still no vol cues.
Broke lower with volume as SPY turned broke higher with volume. Will be patient, not chasing.
And getting my wish. Major TL right on top of .87, real nice tight .04 cent zone here to short against. Big offer at .84 if we can get above and reclaim thats my in.
Some big numbers around here. Big bids are stepping up.
Volume is completely on buy side. Got above and big bids followed. Shorts probably getting wrecked here. Will have to reset later on if I have time to watch,
CCL
Beatdown was not on schedule today. And here they are ripping higher. Cruise mainly.
RCL leading but CCL giving setup at vwap. Just getting here for 2nd time, MAs coiled above, seems ill need to wait for breakdown to get bought or just wait til it looks better.
--------------------------------
Reset later and dipped under and failed and im back in, Other cruise curling higher. MAs not super helpful yet but we cant drop lower.
Tape was good,m we had thick bids. Vol slow
Couldnt hold anything though, all out.
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Didnt drop any lower, just coiling above vwap. Vol super low here, seems like upside still possible, Leader RCL is weak but maybe ready to turn up.
Got range break and im back in bigger size. All turning up now with SPY, Above 9/20 needs above 15 for best case. Small vol kick. Needs to go.
Bids and buying is here, we look good for a move higher now. Stop tight.
SPY helping, others not so much. Good tape action, until we didnt anymore. Just barely hanging on it seems. Stop same. Can still go but not A+ atm. Will only do it if RCL and NCLH do it too. They are turning up now, CCL the strognest with the shallowest pb lower.
Back at micro high. Tape ok. Bids still here, so are offers though. RCL rip higher above htf level. CCL new micro range high into 14.99. Needs 15.01 PT at 15.13
And theres 15. Risked .04 cents for .20. Up .04 now stop needs to be breakeven still. So stuck waiting still. Have to worry about making money not being right. In this case saving money. Stop is a penny under breakeven. We came hit my breakeven and bounced up quickly to 15 again. Good spot. other cruise failing dropping lower again.
And all out, RCL dumping hard.
NFLX
Weak open, reclaimed vwap and dbo level for big TL break. Made range above it and vwap, breaking down, looking for it to get bought up.
Took a while, dipped very low but back up and above. Waiting on pb to long.
Got it and saw it, big bid stepped in and I was in, couldnt hold and out.
Got right back in as it was a repeat of same thing, bids came in and back in and added twice.
Very tight range here, needs 489.30 for break higher. Vol thinning already though. Problem. SPY dipped lower hard and came back up.
Pretty quiet tape, slow. RVOL .5 held breakeven a few times, Will be stop. No need to lose big here. All MAs under now, turning point here as SPY also up to new HOD. Needs to go now. If not definitely out breakeven.
Vol so low and slow here. Gotta be warning signs. We need to be gone.
And SPY turned lower hard, real hard, NFLX followed all out. Garbage.
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Didnt drop any lower, big bid came in tried to get in in front cant. Waiting to see him again maybe or some reason to get back in at HTF.
Broke the range high and saw no pop. Maybe ill get lucky with a pb here to get in.
FB
Strong all day, big breakout. Retraced it for last 2 hours and just now seeing big vol spike and price jump higher from TL break. Looking for quick pb to bo level at 266 for long.
Coming down into level and TL. Not seeing much yet. Market is strong.
Well not stopping on its way down. 265.45 is big intraday level thats been holdng. VWAP at .33 and prev hod/dbo level at 265.15. Might find something down here on a failed breakdown.
Not many mistakes today. mainly revolved around NFLX giving it too much space and time. Taking L when should be small win, and big loss when should be small. MRNA was great. Hung in there, waited for it, exited when I should, got back in when I should. CCL was a bit iffy. I lost $174 on the name and risked $282 on it. For a name that wasnt A+ nor 10star, nor on my watchlist. Thats too much money down. Yeah it coldve been a big blow up day for cruise, but RCL had already failed and lost vwap and weak, CCL under major MAs and failed a break higher. I think I was flat out too big on those trades. Cut in half.
AMD a solid win couldve had a nicer drop for me but made sure I left with something.
Solid day really, not much to say. Trading well, lets keep it that way. Size management always something to work on.
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