Wednesday, June 19, 2019

Trading Map Thursday

Long Watch List: Day/Swing Trading Ideas
  • SPY/QQQ - see review below
  • ARQL HSY SWK
  • Continuation Plays: JBL CRPT YUMC ADBE
Short Watch List: Day/Swing Trading Ideas
  • BHVN
    Continuation Plays:OLN
SPY & QQQ Daily Review:
Daily Chart: Market stayed strong after yesterdays rally. Trend remains up with Utilities sector again (chart below) leading the way and the Health Care Sector XLV. (chart below)

SPY & QQQ 15 minute chart Day/Short Term Swing Opportunities: yellow line/grey box shows short term resistance/support areas for trade consideration. The focus is 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: Pullback long off yesterdays low and 80ema that was mentioned yesterday was an opportunity. See below
  • Short term range remains long and only interested in multli convergence setups like today with moving average and price support for quick day trades until the highs on the daily chart are reached (grey area)
Watch List Charts:

ARQL for a break and go and SWK Red to Green with an intra day setup.


JBL and YUMC for continuation with an intraday setup


BHVN and OLN very weak for a continuation with an intraday setup

Trade Reviews and Charts of Interest:
QQQ: Intraday setup from yesterday with a .50 stop placed below the 80ema. Nice 3-1 or 2-1 win if the trade was taken.

XLU: Snap shot of the Utilities sector and its continued strength - near all-time highs
 XLV: Snap shot of the Healthcare sector which has lead the way for the recent SPY rally.

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