Monday, November 27, 2017

Monday 1st Hour Trading Map

Today's Basic Trading Map Based Off the 1st Hour of Trading

Indexes: (SPY,QQQ,DIA)
Daily Trend: Long All 
Today's Gap, Trend, Range: Trend is long but at top of range daily. Gaps filled on all but the ES and odds are it fills today. Spy range R2 pivot and S2 pivot. QQQ upper range S2 - Lean towards a slow day other wise.
TICKS (nyse): Neutral - range between the meat of 600 and -600
Trading Notes: Dont chase wait for pullbacks, stay long. Those brave traders looking to fade the up move can look at spy R2 area.
Trade Ideas: using 1-1 risk, close out end of day
  • SPY: 260.18 with stop 259.77
  • QQQ: 156.29 stop 155.99 (provided 20sma support and R2 not touched.
  • DIA:
See Below Support/Resistance Lines and Areas to Watch
(white dotted line 5sma, red dotted line 20sma, doted lines pivots, Green & Red Sold lines previous days High and Lows, yellow dotted previous unfilled gaps - 15 minute charts)

Gaping Stocks to Watch
  • grow
  • swir
  • mdp
  • shop
Weekly Chart Notes for longer term plays

* The Index setups use larger stops with a conservative 1-1 risk/reward ratio that trades with the trend and odds. RED X shows possible entry points and area to place a stop. Can fine tune as see fit. Close out at end of day or move stop to even at .75R
* Beyond searching for ISB on a 30 minute chart can use this simple stock setup for a conservative 1-1 risk/reward ratio. Look for the first pullback near the  30 minute 5sma with a stop placed under the 10sma. Can add fib lines using today's high and yesterdays close the 38.2, 50 and 61.8 fib lines as secondary support when entering. (can also use the 5 minute chart using 25sma to enter and 60sma for stop) Can fine tune as see fit. Close out at end of day or move stop to even at .75R.
* Secondary support is support/resistance line's that support the moving average - (fib lines, previous day High or low, pivots)
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.

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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