Tuesday, July 2, 2019

Wednesday Trading Map - markets close early

HOW I DAY TRADE - MARKET NEWSLETTER

Daily Watch List

Long
  • Daily Chart Setup Break & Go: AYX
  • Daily Chart Setup Continuation: See Buy Zone Watch List
Short
  • Daily Chart Setup Continuation: See Sell Zone Watch List
Buy Zone Setup Watch List:
  • GBTC 13.51 - 13.27
  • AMRN 21.25 - 20.94
Sell Zone Setup Watch List:
  • DVN 27.98 - 28.29
  • EQT 15.48 - 15.76
  • EOG 88.90 - 89.76
  • WMGI 28.62 - 29.00
SPY & QQQ DAILY REVIEW:
The market had a small rally and stayed between its 2 zones. The watch list had some stocks take off but few firm setups. Market should be quiet with the holiday trading week - market closes early tomorrow and closed for the holiday on Thursday.

SPY Trade Ideas: Buy and Sell Zones:
  • Buy Zone 294.51-294.30 (must open above the top of this zone)
  • Sell Zone 296.67-296.95 (must open below bottom of this zone) - with the trend up I would pass on this zone

CHARTS: Trade reviews and Charts of Interest

RUN: Daily Setup: Intraday Setup: Breakout Entry Type: BO
RUN formed a base under the previous day trigger high and broke up. Goal was to sell half at R1 pivot. Once price trades 1R in my favor, I move the stop to break even where I was taken out. RUN then turned around and ran higher. It happens, number 1 priority is to manage risk.


BRFS: Daily Setup: Continuation
Just missed trading back into the Buy Zone. Later on setup under the prior day high for nice breakout move.


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.
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) -120 (red)(ema's)
  • Intraday Charts 15 minute: 20 (red), 40(purple), 80 (orange) - 200(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

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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