Sunday, August 4, 2019

QQQ and SPY Friday Zone Trades

Index trades can be consistent if you take those quick exits when they present themselves, and trade when each index agree with each other. Below are the 3 trades from Friday.
  1. QQQ: Breakdown through the zone with the trend, SPY agrees no resistance, Room for a 1-1 trade
  2. SPY: Breakdown through the zone with the trend on a nice red to green candle, QQQ agrees no resistance, Room for a 1-1 trade - exited early as QQQ hit its zone before my exit goal
  3. QQQ: Fade Long, SPY agrees no resistance (top of zone breaking through), Room for a 1-1 trade exit at 1R
  4. X: shows a nice candle off a QQQ buy zone but SPY did not agree - no trade  


HOW I DAY TRADE - MARKET NEWSLETTER The Newsletter is a service for active traders with a focus on short term Buy and Sell Zones and is provided for educational purposes. The purpose is to educate traders on short term trading setups through a two-step process of selecting Daily Charts and applying intraday trading setups. Always use a Stock trading simulator to test, master strategies and become more educated in the markets before risking real money. Become successful on a simulator for a minimum 6 months before risking your money and always use a stop. If the markets conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. A missed trade is better than a losing trade.

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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