Sunday, June 16, 2019

Trading Map for Monday

Long Watch List: Day/Swing Trading Ideas
  • SPY/QQQ - see below
  • AMD HTZ BSX
  • Short term swing holds: none
Short Watch List: Day/Swing Trading Ideas
  • STT and NXPI
SPY & QQQ Review:
Daily Chart: Short term trend is still up after today's consolidation. Utilities sector again was the strength on Friday  and has been for past month  while the chip sector continues to weigh on the indices. Nothing on the economic calendar for Monday 
SPY & QQQ 15 minute chart Day/Short Term Swing Opportunities: (yellow line/grey box shows short term resistance/support areas for possible fades - .30-.50 stop  with a 3x the risk exit.  Focus on setups with a convergence of multiple Support/Resistance in the same area (trend lines, unfilled gaps, Low and high for the day, 20 and 80 ema's on the 15 minute chart)
  • Today: no trade setups stood out in the indexes (as you can see by the messy 5 day trading range) - choppy market sit out wait for short term to sort itself out.
  • Short term range is choppy as you can see by the chart. I am only interested a possible trade at gap fill from last Monday. (red line) and trading above Thursday high. Quick day trades fading the previous day High/Low until we are out of this trading range are an option for those wanting action.


Watch List Charts:
NXPI continuation short, looking for S1 pivot setup and STT 2 day break pullback short
 HTZ continuation looking for R1 setup and AMD Red to Green Day setup


Trade Reviews and Charts of Interest:
CHD: Intraday setup was a .50 stop placed below the 20ema. Sell half at R2 (white line). If holding for a short term swing trade stop moved up to 65. Could entered this trade earlier after price hit the trigger entry and pulled back to the 9/20/60 ema area and bounced.


Newsletter is provided for educational purposes. The purpose is to educate traders on short term trading setups through selecting Daily Charts and applying intraday trading setups to help enhance the odds for solid risk/reward trades. 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.

Charts Key:
  • 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) - (ema's) 
    Intraday Charts 15 minute: 20 (red), 80 (orange) - (ema's)
    Intraday Pivots: Green R1, Red S1 - White S2 and R2
  • Yellow Lines and Grey Boxes: entry areas to target - Red Lines unfilled gaps

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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