10/7 DRC

 Looking like a choppy market for next day or so. Had huge sell yesterday. Gapping higher into middle of yest range in SPY. Mainly had shorts in play, but not many at all, and now with the gap its really looking like a slow day. Might not have much to do at all today. Will stay patient and wait for something good, maybe scalp around if something pops up.

Yesterday I traded well. Cut losers short, squeezed what I could with wins. Caught some nice reversals off of the sell off. Let the market come to me. Didnt force anything and put the right size on when needed. Looking to do the same today.

Taking a look at gappers today as well just to have more to look at. FANG for scalping. My big picture trades dont seem to be likely so far as of premarket but ill do what I can to make money today if I get something worth taking. Scalps are only 1/4 max risk.

3star

DADA BA

2star

SPY VXX NKLA PFE WW DXCM VRM GH LEVI DKNG

1star

ZM TSLA 


FSLY



Reversal scan trade. Straight vertical at open, got clear entry, in and worked for a bit but couldnt quite lose it. Out right at be. 


GH



Much later in day, GH another gape name made super tight triangle. Failed 1st bo, retested lower, and huge vol increase back to top of range. Took scalp on break.

After break weird price action, tape got crazy and we stuffed lower. Got wrecked waiting on pb and price collapsed on me twice. WTF action. Took much larger loss than wanted. 




Well really not a thing today. Nothing hitting reversal scans. Nothing good for FANG scalps. Not big picture trades. Had a few alerts hit, but never gave me something good enough to get in. Gappers nothing either. GH disappointing scalp. Some v strange tape there on entry. Was just a scalp, not a big picture idea so no reason for me to get in and hold. No HTF levels under.

I look and see these names still making these big moves. I watch them from a D standpoint, but dont get something good enough to get them on intraday standpoint. So what do I do? Do I settle for lesser quality intraday action and just take the break? 

Looking at GRWG NKLA and ALXN. All hit alerts. All ripped. All coiled high and tight. All didnt pull into vwap, all ripped higher again anyways. 

I want the pullbacks to get good RR, but at what point do I take the trade anyways on the break and deal with it. I clearly see the breakout entry on all of them, not NKLA. But they didnt come into vwap or wait for 50ma to catch up, or MAs to coil. Gain some power. Felt like I would have been chasing.

I think a big note here, is this action happened within the 1st hour of the day. There is still a lot of volume to be done, so I guess it does make sense that these moves can still happen that early on. 

I think in this case I need to take the trade. GRWG ALXN clear D breakout setup. Both rip at open, into level/zone. Both hold it/around it. Both setup for new intraday break. Both coil around 9/20, RVOL is there, as well as other names ripping higher on the day and market was recovering well. 

I wasnt aware enough and I dont think it is settling for less. I wanted that deeper pullback with more consolidation, but I dont think that alone is reason enough to skip these trades. Both were huge setups that did follow through, and gave good signs to take it overall. Will mark these as misses. If its hard to buy, it usually means its going higher. 

Onto tomorrow. 


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