Game Plan
Review
Pretty good day in terms of following the system. Had 2.5 trades. Win on AMD and a Loss/84% win on QQQ.
The AMD trade was executed according to plan. The QQQ trade was not part of the plan but was trading above PDH and was showing a nice setup. Maybe should have skipped it, but it was a good setup so in the end I cannot be too hard on myself.
Trade Reviews
AMD -Premarket Low Retest
Trade Thesis: AMD was gapping down in the premarket was below PDL, thought QQQ was starting to roll over, took the trade to the downside.
Context(1day): AMD continued to look bearish on the daily. After putting in a red day yesterday it seemed like AMD was potentially making another lower high.
Context(15min): We were gapping down when the rest of the market was more bullish. The 15 min was make lower lows and lower highs.
Execution(1min): Into the open we initially pushed higher, then came back below PDL. There were a couple of retests, but waited for further confirmation. Once we broke down from that range I took the immediate retest of PML
How it played(5min): Price hit my initial target, unfortunately did not take off enough here. got stopped out and the move continued. Need to work on better management. Bottom line, you gotta pay yourself.
QQQ -PDH Retest with a Reclaim Re-entry
Trade Thesis: QQQ ended up showing strength and got above PDH which was also ATH, took it for a move back up to HOD
Context(1 day): Price looking bullish on the daily. At ATH levels.
Context(15min):The 583.23 was a level I was watching to make determine if price was staying bullish. This was a previous ATH level, that was showing reactions each time price touched it.
Initially took the retest of the PDH level, but got stopped out. Once price reclaimed the level, I re-entered for a HOD scale.
Price moved up nicely to previous PMH ATH. I scaled my last runner a little too soon as I did not want them to go back to BE on the 0days.
Missed Trade of The Day
TSLA - 5 Min Retest
Trade Thesis:
Context(1day): Price is bullish on the daily, but going into the session, I was thinking this could reverse as it was failing to get above 355.38.
Context(15 min): Price was above the 350 level. A level I had been watching all week. But was trying to focus on tickers that were above or below their previous day ranges today.
Setups(1min): There were a few opportunities to get long. There was a nice 5min retest, and there was also orderblock wick that was the previous HOD early in the session.
The trade had incredible R;R. As it continues to move towards HTF level.
Daily Watchlist With Recap
Ticker: SPY
What I am watching: Watching SPY to see if it either goes and prints a new ATH or if 652.20 steps in and acts as as support. Above 652 we are still bullish.
Post Session Chart
After a quick selloff at the open, price skyrocketed towards new ATHs. What else is new.
Ticker: QQQ
What I am watching: The QQQ keeps getting rejected at 583.23. This is a key level we need to get above to maintain bulish sentiment. Watching PDC/580.90s for support to remain bullish.
Post Session Chart
Choppier price action. Definitely less bullish, but still showing strength on the day. That 583.23 level has been playing all week and continues to act as both support and resistance intraday.
Ticker: AMD
What I am watching: Looking at a downside move. AMD continues to look weak both on the dail and the 15min. After gapping up we put in a red day and are opening inside of that gap. We are also below PDL. Alert level is 157.34. Watching to see what happens once we get below.
Post Session Chart
The played out as planned. Took this trade to the downside. Got some follow through, but need to work on my scaling. Did not scale enough at the pivot level target and ended up not making enough based on getting this trade thesis right.
Ticker: NVDA
What I am watching: Looking to push above PDH. If we get above standby and watch price action as we have room up to 184
Post Session Chart
Alert level was hit coming into the open, but never really setup was looking for the PMH/ 5 min range retest, didnt happen so went off watch
Ticker: AAPL
What I am watching: Has been very weak, although after yesterday I do expect it to consolidate for a bit. If it wants to head below PDL, will watch for an entry. Alert level is PDL 225.94
Post Session Chart
Was to the upside at the open. Nothing hit or played out.
Ticker: PLTR
What I am watching: Watching above PDH. Lots of room to the upside.
Post Session Chart
Move was to the downside. Skipped it. Chopping around. Can keep a watch for tomorrow. Still like the play about 169.25
Ticker: ORCL
W
What I am watching: Above PDH. Day 2 earnings play. Be careful though, already very over extended.
Post Session Chart
We are in the gap. Already down 5% might setup for a play tomorrow to the downside.
Ticker: AVGO
What I am watching: Watching the Previous day high level to see if we can get above.
Post Session Chart
Downside move at the open. Nothing played out.