Blue – West Texas Oil (Inverse)
Red – USDPHP
Orange – DXY
All charts not scaled.
SPY just range for 0.40 until lunch when it broke out. Note reaction of price to resistance. At the 4th test, price ranged instead of flushing down.
$MU short below M1 MA VWAP congestion, cover at M5 20MA. Short again on retest of break. Hold for the trend. Cover at 50% retracement of bullish signal 61.36
Got chopped up in SPY. Too many trades. Wasn’t patient enough for a setup.
$FB broke out without warning, the only entry signal was a high volume bar on the M5. Paid 1:3 with a target clearly around 192.60.
CODX broke out of the opening range with 2 strong bars and consolidated at the top 1min. 1min symtri broke down quick and retraced at least 50% for an opportune entry. Fell back down to opening prices and turned around 10:30. Retraced about 3/4 to highs by midday.
TWTR premarket high 40 and low 39.05. TTS opportunity twice below 40 but the exit plan needs to be worked on.
TSLA failed ORB at 21:45. Retraced to 5min VWAP then continued trend down. Capitulation at 1min doji at 22:30. Retraced only 50% then carried on down again. Daily gap filled at 291.95 with no support.
SOGO went back down to prev day’s high at 11.09 and reversed back up to NEAR opening range high. Watching the candles near the high would have clued you in for the exit.
FB trendline break at 23:25. Downside was at least a 1:1 trade. Price target was nicely inside premarket and prev market levels.
NFLX 3 bar ORB, long 365 exit 368. A 2R trade. No indications other than daily made a new high 2 days ago, paused, and new high ORB today.
Tried to anticipate the short side, got stopped, and that stoppage was what should’ve been the long entry to the top of the range.
Watching for the turn around 10:30, saw the double bottom in the 1m, went long immediately by impulse. Price went in my favor right away. I didn’t take it. I didn’t have a target in mind. It was a high flyer in the weekly and daily all time high. Shooting star in the daily. Got shaken out when it retraced. Eventually went to the top of the range.
Saw the congestion happening in the 1m, went long immediately without hesitation when it broke triangle trendline with some volume. Went in my favor right away. Had a target of 194.13. My mistake was failing to watch how it reacts at the top of the range or at least sell at the previous day’s VWAP or close.
What was a 1:2 trade turned into a 1:1 trade because of this simple mistake.
A fade around 1030pm would not have worked. Weekly resistance is around $39.