Tuesday, April 17, 2018

Tuesday 1st Hour Trading Map

Pre- Market Gaping Stocks to Watch

Gap and Go: Trending Positive Pre-Market 
  •  pump
  •  msft
  •  
Gap and Fade @ Support or Resistance
  •  gwph
  •  
  •  
Other Gaping Stocks to Watch
  •  dis, jpm,
  •  
  •  
Daily Bar Break Out Idea's: Day Trading based on the Daily Bar - Click here for today's entries and exits I am tracking or Click here for how I trades these Daily Bar ideas.
  1. ecl
  2. ilg
  3. nov
  4.  omc
Roth IRA Tracking Account Current Holds and Trades:  Click here for more details on how I trade and track this account.
  • Current holds and watching:

Indexes Morning Gap Fill Probability and Trade idea: Can trade the 3x leveraged SPXL ( Long the SPY) SPXS (shorting the SPY) and 2x leveraged QLD (long QQQ) QID(short QQQ) - which mirror the SPY and QQQ - They are lower priced and don't take up as much of your trading capitol while in multiple positions. Will post if I like a day trade Gap Fill or Gap and Go play along with overall gap fill probability number based on index below.
  1. SPY: 2
  2. QQQ: 2
Gap Fill Probability Index:
  • 4 - Highly Probable
  • 3 - Probable
  • 2 - Neutral
  • 1 - Highly Doubtful

TRADING PLANS 



* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

3 comments:

Anonymous said...

Hi, do you think you can explain what makes a gap a "Gap & Go"? I mean like the characteristics of what the daily chart should look like? So we can properly identify them? Ex. MSFT today. Thanks

How I Day Trade said...


Look at the Daily Chart to the left and mark support and resistance lines (pivots - high or low of wide range bars, long tails or multiple touch points) - you want room for the stock to move up to the next point - 2nd once you identify you want the stock trending in that direction pre-market with volume and near pre-market Highs.

I will lean towards big cap names when I see the SPY gaping and showing room to run. MSFT had room to the left of its daily chart, trending positive pre-market and over the previous day high.


let me know if you would like me to post an example, I have some time tonight to post a few examples with more detail.

Anonymous said...

Thx so much for the explanation. If you do have the time I really would appreciate an examples you can post. Thx again.

Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE