Tuesday, June 18, 2019

Trading Map Wednesday

Long Watch List: Day/Swing Trading Ideas
  • SPY/QQQ - see review below
  • HSY ZS PRVB
  • Continuation Plays:SNAP
Short Watch List: Day/Swing Trading Ideas
  • AEO
    Continuation Plays: none
SPY & QQQ Daily Review:
Daily Chart: Short term trend is still up after today's consolidation.  On the economic calendar for tomorrow is the fed. Trading should be slow in the morning until 2pm eastern time.

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: Break and go setup and 15 minute counter trend candle (see below)
  • As stated if we get over Short term range, last weeks high, then we can fly. Trend is up looking for intraday pullbacks marked below. 

Watch List Charts:

HSY showing a possible break with a decent intraday setup - ZS could run on a break of the short term high.
SNAP strong breakout and potential for follow through - AEO weak and off the Daily 20ema - could sell off on a decent setup and flat to weak market.

Trade Reviews and Charts of Interest:
SPY: Intraday setup was a 15 minute counter candle fade off Daily Support. Place .50 stop at high of day and enter low of the red counter candle. Exit at 2-1 ratio (1.00 gain) or end of day.Can sell half at the rising 20ema.
IOVA: Intraday setup was a 5 minute high (pullback to the 9/20ema also setup) Stop placed below the 20ema. Sell half at R1 pivot (white line) or at 2 to 1 or 3 to 1 risk/reward. 

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