Review
My entries where good today, but my management was not. I have to do a better job of being more mechanical on my trades. I also need to stop entering and re-entering. Once the trade is set, I need to be hands off and just take profits at the right levels.
Working on the management and I should end up profitable.
Trade Reviews
NVDA - Premarket High Retest.
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.
Context(1day):
Context(15 min): The 15min was holding up and trending upwords into the open. The only thing was not looking great was the RVOL was down
Execution(1 min): Took 2 entries. One was a retest of the PMH/5min ORB. Got stopped out and took the reclaim of the PMH high level.
How it played(5 min): Took scales at 2:1 and then the ATH level. In hindsight I should have let more ride, but I added and my cost basis was higher and I got stopped out.
Daily Watchlist With Recap
Ticker: SPY
What I am watching: SPY sold off yesterday but ended up defending its PDH. We are pushing up in the PM slightly. Watching 663 to see if we get above for a move back up to the PDH and then 667 level.
Post Session Chart
SPY remained choppy all day. HOD to LOD and back. No real setup.
Ticker: QQQ
What I am watching: tech remains bullish with the SPY. A reclaim above 600 would signal a nice trade up into PDH/ATH
Post Session Chart
QQQ was also choppy but didnt make the upside moves that SPY did. We continue to hold the 596 level and will watch to see where we go tomorow.
Ticker: TSLA
What I am watching: Nice Recovery in the PM. Want to see TSLA above that 445 level for a trade back up in PDH.
Post Session Chart
TSLA never hit that 445 level, so there were no alerts and no triggers for an entry.
Ticker: NVDA
What I am watching: Has an ATH play above. If the market stays strong and there is nice retest before taking out the ATH then would be interested in the trade. If the 184.60 level is taken out before then would want a retest of that level.
Post Session Chart
Nice ATH play on NVDA today. Entered twice. Got stopped out and then took the re-entry once the level was recalimed.
Ticker: AMZN
What I am watching: Above PMH/PDH
Post Session Chart
AMZN lost all of its momentum and ended up falling back to the bottom of the zone.
Ticker: AVGO
What I am watching: Downside move below PDL.
Post Session Chart
We did end up having a PDL retest. But was later in the day and in the end it did not follow through.