HOW I DAY TRADE - MARKET NEWSLETTER
Daily Watch List
- Daily Chart Setup Continuation: see buy zone setup
- Daily Chart Setup Pullback: ACGL DATA
- Daily Chart Setup Break & Go: TEL ADI
- Daily Chart Setup Continuation: CAG
Sell Zone Setup Watch List:
SPY & QQQ DAILY REVIEW:
The market was flat and quiet while the watch list had a good day and few trades. Short term trend remains neutral to bearish until we get over 293.50 . Could see a test of the 50ema (orange line) if we get below Tuesdays lows.
SPY & QQQ short term trade considerations: yellow line/grey box shows short term resistance/support areas and gap over/under and go trade consideration's.
Today: Short trades presented off the prior day SPY and QQQ sell zone offered. SPY set up for a winner. If you had a deep entry on the back side of the short on the QQQ would of been a nice trade. A gap over Wednesday's high could get a push higher.
CHARTS: Watch list stocks of interest and trade reviews
OSTK: Daily Setup: C Intraday Setup: Buy Zone Entry Type: Zone Entry
NRG: Daily Setup: C Intraday Setup: Breakdown and Go Entry Type: breakdown
A nice move break of the prior day low with 9/20ema support. Stop was .35. Sell half at R1 pivot (red line)
Newsletter 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.
Daily Charts: Daily 9 (blue dotted) , 20 (red), 50 (orange), 200 (dark red) - (ema's)
Intraday Charts 5 minute: 9 (blue dotted) , 20 (red), 60 (orange) - 240 (red)(ema's)
Intraday Charts 15 minute: 20 (red), 80 (orange) - 200(purple) and 800 (red) (ema's)
Intraday Pivots: Green R1, Red S1 - White S2 and R2
Yellow Lines & Grey Boxes: entry areas to target - Red Lines unfilled gaps
Daily Charts: C: Continuation R/G: red to green PB pullback BO: breakout
Intraday Setup: 1. Break & Go 2. Pullback to trigger 3. Buy/Sell Zone
Entry Type: 1. BO breakout 2.PB Pullback 3. Zone entry