TFC Swing

 





Market gapped up big, sold off big to start day, TFC held strong made nice ORB in and added on new break of HTF level. 

Had a nice start, couldnt hold it and dumped hard right to LOD below prev hi. Sector selling off and markets ready for 2nd leg lower at new LOD. Stuck waiting on pb. 

If lucky can get out small loss, overall sector and market seems to find another bottom again. We broke past prev bo level, reclaim will have to be real good here for me to want to stay in. 

XLF + stocks synced with market. Maybe 3rd leg lower now pb was super low vol and weak, trying to get out. 

I went big and was supposed to so loss is find. 

Bam and then we ripped it back up lol. Did get filled on exit so staying in a bit more to wait and see what we do here. Now above prev hi and under vwap. 

Did get out as it rejected vwap. May get in again if reset. Ended with small L after big risk. Cant complain. 

Made the right call. Dropped more. 

Comments

Post a Comment

Popular posts from this blog

Trading Plan

Image
Time is a thief for the impatient. And a gift for the patient.  Do I need to think about selling options?  It makes sense to sell puts, internals clearly strong, but the market is not in clear position to make that a good trade yet. Wait until its clean and clear. I would rather not sweat, than risk more money in uncertainty.  BEFORE THE BELL -Premarket Checklist. -Is the market Trending, Chop, or turning? -Is Sentiment making any significant trend breaks? -What are best/worst performing sectors?     -Are any breaking out or down? -Do I need to make adjustments to my investments? -Does yesterdays action look likely to continue today? -Have we gone in a straight line to S or R?      -Do I need to be cautious of an overextended market and look for reversal instead of continuation? WATCHLIST PREP -SPY/QQQ FANGMANT+ always in play.  -Monthly/Weekly watch always in play for VA breaks.  -Proper boxes and Anch vwap charted.  -Scan through ...
Read more

MTX

Image
 MINERALS TECHNOLOGIES INC. Minerals Technologies, Inc. is a resource and technology-based company. It develops, produces, and markets a range of mineral, mineral-based, and synthetic mineral products. It operates through the Consumer and Specialties and Engineered Solutions segments. The Consumer and Specialties segment serves consumer end markets directly and provides mineral-based solutions and technologies that are essential to customers' products. The Engineered Solutions segment combines all engineered systems, mineral blends, and technologies that are designed to aid in customer processes and projects. The company was founded on February 19, 1968 and is headquartered in New York, NY. Strong name, another specialty chemicals industry trade along the lines of LYB HWKN KWR. Strong tight setup, HTF charts love it with curl up MAs and taps. Obviously not as tight as I would like on W or M, but trying something with this one. Trend momentum continuation.  Clearly in a signifi...
Read more

11/30 DRC

 Last day of the month. Not much trading exactly to talk about. Big issue last week was speed. I was slow in almost all cases. Trying not to look too much into it. Took a few weeks off, its expected to take a bit to get back into the swing of things. Risk was main focus as a goal going forward. Correct size, consistent risk throughout every trade and setup for consistent results. That I did good with. Main things to focus on 1. Following entry criteria, making sure I trade what I am supposed to 2. Using correct size to reflect risk already determined by setup 3. Must be faster with ^^^ 4. Cut losses fast on adds. In and out, dont wait. 5. Follow management rules, up 1R/2R etc. 6. Take profits in 3rds.  7. Enter trade with small size if it is leaving without me. Big adds come in only if core is at price and action I want to see.  Market looks hot. Nothing but breakouts around. Gapping down a little, recovering already though into the open. SPY at and holding above prev lo,...
Read more