Trade Reviews
AMD - 5m Opening Range BnR
Trade Thesis: AMD was gapping down in the premarket was below PDL and also had a level of support that needed to hold. Was watching the HTF level for a breakdown for a possible multi day short to the downside.
1D Chart: Going int hte session 158 was looking like a major level. Price was bouncing off from it but failing to move higher.
15 min: We had broke below the PDL and were gapping down in the premarket. Was watching 158 as a level as we had room below that for price to fall.
1 min: Executed the retest of the opening range that also lined up with the VWAP. Price initially moved in my favour but was stopped out for a 1R loss.
1min: Price continued to move higher. we are now rejecting 160.61 which the PDL. Lets see if something sets up tomorrow.
QQQ - 5m Opening Range BnR
Trade Thesis: Market has been fairly neutral on the HTF, operating in the middle of a range. Into the open it felt like market was selling off, after we broke the consolidation range I took a 5 min ORB BnR to the downside.
1day: In the middle of the range. I was neutral on the HTF.
15 min: We opened up near were we closed. Still did not have a HTF these on the ticker.
Price looked weak after 10am. It failed to put in an higher highs and was below the VWAP and the opening range. I took the retest of the opening range. Could have taken a partial at the LOD but held since my R:Rwas not great. Got stopped out for 1R
5 min: Price never had any momentum to the down side and ended going back up to high of day
Daily Watchlist With Recap
Ticker: AMZ
What I am watching: Amazon is looking very strong into the open. It is gapping up and showing a lot of strength in the premarket. Watching for accelerated move into the open. for either 1 min or 5 min ORB. Want to see a level defeneded. VWAP could be a good indication that buyers are stepping in.
Post Session Chart
Ticker: META
What I am watching: Looking at META to either the upside or the downside. Had bullish momentum in the premarket, but seems to be fading the move. If the market weakens, can look for a break below 747 and a move back down towards PDH.
Post Session Chart
Never really setup. Pushed up at the open. Had it on watch for a 5 min range breakout early in the session, but it folded over and because it was a thesis to the upside, I took it off my list.
Ticker: TSLA
What I am watching: Yesterday was a bit of a doji day, but the daily chart is still working its way back up to 350. If we can show some early momentum I like TSLA above premarket high for a move up to PDH and up.
Post Session Chart
Sold off at the open. Had a bullish thesis, never really played out as there was no momentum to either side. Looks like we are essentially closing where we opened. Bullish day in that the buyers stepped in and reclaimed price. Will continue to watch for a move back up to 350.
Ticker: AMD
What I am watching: AMD is trying to defend 158, but noting that the pops and momentum coming off the level is becoming weaker and weaker. We are now under PDL. Watching for a retest and move to the downside.
Post Session Chart
Buyers again defended 158 but we are back at 162. Lets see if it rejects again tomorrow. Still liking this for a downside move.
Ticker: CRM
What I am watching: Earnings play. Sold off over 6% watching the PML price as well as VWAP to see if we are going lower, or is price makes a rebound. If we can break premarket low, there is room down to 228.
Post Session Chart
Could have been a good frontside short if you were to take in the premarket, as the level ended up being pretty clear. That being said, it was not that clear going into the open and by the time market opened it was selling off.
Ticker: FIG
What I am watching: Dont see this that open. ATL!!!. Very weak after earnings. There do not seem to be too many signs of buyers. Also there could be panicking setting in as there are a lot of IPO buyers that are drowning at the moment. Looking at the PML break to the downside.
Post Session Chart
Nice sell off into the open, Also had a nice premarket low retest. Continuing to show weak price action.
Review
Daily Review
Interesting day… 3 trades 2 losers and 1 winner. That being said more red on the day since my sizing in the winner was sized down because I was a little hesitant on the setup.
I feel like could have done a better job at managing the QQQ trade. I re-entered as I thought the setup was there and after it took LOD I should have exited at breakeven.
For the AMD trade, I should probably have been more patient, as I need to make sure the level hits if I am trading a break and retest.