Jens 33 Posted September 23, 2019 23 September 2019 EXAS Trade 1 The first trade of the day was on EXAS. It was a harmonious chart play. On the first two minute it made a significant move up. I waited for a pullback to enter for a long position. It did pull back to VWAP and I hit my hotkey. My stoploss was below the three moving averages. Unfortunately it didn’t work out. CHWY This was my V shape opening range breakout pattern. It was forming a V shape on the 1 minute chart and it engulfed on the 5 minute. My entry was a little bit late. It should have been right when it broke the 5 minute body and the break of VWAP. My stoploss was below the moving averages. Partialed out some at 1:1R and got the rest out below VWAP. ROKU This was a bad version of a ascending wedge. There was no clear triangle forming on the minute. It made 3 touches to the top which made me long biased. There was also a moving average coming up on the chart. I should have exited this trade earlier, when it made a new 5 minute low. Not really happy with this trade EXAS Trade 2 I made another trade on EXAS. This setup was a ascending wedge. It was on a uptrend on all the time frames. It was flattening out at VWAP and once it broke that level I went long. Put my stoploss for the break of the triangle. NFLX This was the trade of the day. Bearish Harmonious chart was forming on all the time frames. I got in at the break of the flat bottom of the wedge. About 10 minutes later I saw it was forming another descending wedge and added to my position. I started partialing along the way down on levels of whole dollars and daily levels. This trade brought me back into the green for the day. I had a realized 4R on this trade. Ended the day around +1R. 3 Share this post Link to post Share on other sites
Jens 33 Posted September 24, 2019 24 September 2019 SNAP SNAP was forming a ascending wedge at VWAP. Once it broke this wedge I took it look. My stoploss on this setup was a new 5 minute low. It formed a 15 minute hammer, which is a bullish sign. WYNN After the first 5 minutes WYNN had formed a ascending wedge. When it roke out the wedge and the 5 minute opening range I entered a long position. It did pop up, but not enough to hit my profit target. It stopped me out below VWAP. NFLX I saw Netflix was on a bearish harmonious chart. The first enter was not too great. It hadn’t formed a clear wedge with a flat bottom. I was having fomo that it would drop without me. 3 minutes later it made a better triangle pattern and add to my position. It did break the wedge, but then got bought back up and stopped me out. I’ve had 3 losers in a row, which led to hit my max loss. I quit trading for the rest of the day. 3 Share this post Link to post Share on other sites
Mike B 624 Posted September 24, 2019 Great job on respecting your Stops. This is a very important trait to master in order to become a consistent profitable trader. Share this post Link to post Share on other sites
Jens 33 Posted September 25, 2019 Thanks Mike. I don't have problems with respecting my rules. My problem is that I'm suffering from FOMO. Often I take setups that haven't developed the clear charts I want to take. Most of the the I enter the trade too early or sometimes too late. My entries are the thing I'm really struggling with. I need to work on waiting for the A setups and not having FOMO Share this post Link to post Share on other sites
Jens 33 Posted September 25, 2019 25 September 2019 PM The stock was gapping up on the daily chart. It popped up in the first minute and looked really strong. On a pullback in the second minute I saw it holding the moving averages and decided to take it long for a break of high of the day. It consolidated for a couple minutes and dropped below VWAP and stopped me out. NKE I played a V pattern opening range breakdown on Nike. It was strong in the first minutes but then dropped hard. It engulfed on the 5 minute and entered on the breakdown of the previous 5 minute candle. After I got in I realized I was shorting into a lot of support. On all the time frames there were moving averages in the way and Nike was also on a strong gap up on the daily chart. 2 minutes after I got in it popped above VWAP and stopped me out. MDCO Did two trades on this ticker. The first one was a descending wedge. It dropped fast below VWAP. After that is was consolidating to the downside below VWAP. I Took it short for a bearish continuation but it didn’t do what I hoped for. The second setup was an ascending wedge. This was like the opposite of the first play on MDCO. A strong pop above VWAP, and bullish consolidating after that. It made also a hammer on the 15 minute chart by then. I do not regret taking this trade. After I stopped out it did the move I was looking for. Currently in a really bad period now. I keep taking bad setups. At the time of taking the trade I think it is a good idea, but when I look at after I got in and it goes against me I realize the setup is not that great. Ended today with -4R. this means I also broke a rule today. My rule is that when I have 3 losing trades in a row, or down -3R I have to quit trading for the day. So another bad day in the books. I’ll keep working hard and will figure this thing out. Right now I am losing pretty consistent If you guys have any tips for me let me know! Tomorrow I am not going to trade in the first 10 minutes. It seems I always lose in that first couple of minutes. Share this post Link to post Share on other sites
Rob C 826 Posted September 25, 2019 To start with I really like your first two setups. I like PM, but your stop was a bit wide for me, I would have used the 76.79 level as my stop. Then the price would have reached 2R before retracing and made it a good trade. Great setup and entry on NKE. Good choice of stop as well. NKE was flying above and below the VWAP so it was good that you gave it a wide stop. You just happened to get stopped out by a penny. One more penny and you could have held to the 91.15 level. NKE was strong today so I usually wouldn't look for more than 1R in a short. As for MDCO, I don't do well with wedges as determining direction, so I treat everything as pendants where I wait for the break of the pendant in either direction. If I like that direction I trade with it. I just watched Thor/Aiman's talk on triangles and they explain well why wedges only work if they have perfectly flat edges. Thor only goes with triangles that have edge flatness to the penny. As there is some MM always buying/selling at that price and he waits until the MM stops or is overwhelmed. So it was a good day. Some good setups. Great entries and you held to your stops. Share this post Link to post Share on other sites
Jens 33 Posted September 25, 2019 Good to hear some good feedback on these trades, thanks for that! I watched Thor/Aiman's too. I know that I am most of the times not taking the best triangles. Often those are not wedges flat to the penny or they don't have enough touches to the flat side. So that is a point I have to work on. Happy to hear that the first two trades were good setups, but not the best execution. Share this post Link to post Share on other sites
Jens 33 Posted September 26, 2019 26 September 2019 SQ SQ opened strong in the first 5 minutes. After that it dropped quick below VWAP. It was consolidating on the 1 minute below all the moving averages to a descending wedge. Other signals for me to go short were a engulfing candle on the 5 minute chart and a 10 minute opening range breakdown. I got in under the whole dollar of 60. After that it popped above the moving average, where my stop was. After that pop it dropped again and re entered with a stop above VWAP. Unfortunately it did stop me out. I think the reason this trade didn’t work out because there were to many moving averages on the charts, which acted as support (On the 5, 14 and daily chart). ROKU My other trade was on ROKU. It was down trending on all the charts with no support to the downside. At a point it was forming a small descending wedge and took it short on the 3rd touch of the flat bottom. It did drop a little bit, but then popped back up to VWAP and stopped me out. At this point I’ve had three losing trades in a row, so I had to stop trading. 1 Share this post Link to post Share on other sites
Jens 33 Posted September 27, 2019 27 September 2019 MU trade 1 Mu had today a bad earnings report so I was short bias on it. On the forst minute it opened very weak. On the second minute it pulled back to VWAP and saw it was holding that. On the way down I took it short for a 1 minute opening range breakdown. It did drop, I locked some profits in at 1:1 and got the rest out at B/E. LVS Trade 1 This was on V opening range breakout. On the 1 minute I was seeing a V pattern. I got in on the 5 minute opening range breakout. My first target was the moving average on the daily chart. It almost touched that, but then dropped below VWAP and got out of the trade. LVS Trade 2 This was a unnecessary trade. Not a clear setup visible. Not really clear triangle shape and not touches to the penny. Shouldn’t have taken this trade. MU trade 2 I made another trade on MU. Everything on the charts was telling me to go short. All the timeframes were in a downtrend, the price action was on all time frames below the moving averages, It was forming a descending wedge on the 1 minute chart with 3 touches to the penny and was also a 15 minute opening range breakdown. I really liked this one. WFC trade 1 This a good setup. All kinds of bullish signs were visible on the charts: All charts trending up, Wedge forming on the 1 and 5 minute chart, bullish hammer on the 5 minute chart, price action above all the moving averages (harmonious chart). These were enough reasons for me to go long on the 10 minute opening range breakout. Don’t really know anymore where I’ve put my stoploss. WFC Trade 2 Was really long bias on WFC after it touched VWAP 2 times. I went long on a not so clear ascending wedge pattern. After reviewing it I realized it was more like a chop area and consolidation period. Took 1 unneccesary trade on LVS and a chop trade on WFC today. Still ended the +2R 2 Share this post Link to post Share on other sites
Jens 33 Posted October 1, 2019 30 September 2019 MU in the late morning I saw MU had started a downtrend. On all time frames it was trending down and bottoming out on a descending wedge. I took it short after it touches 3 times the flat bottom for a ride to LOD. It squeezed u and got stopped out above the 20 EMA on the 1 minute ROKU I took a 5 minte opening range breakdown on ROKU after it engulfed on the 5 minute. I placed my stop above VWAP. The daily chart was looking good for this short. It was a harmonious chart below all the moving averages. Unfortunately the trade didn’t work out and stopped me out. WFC Trade 1 Took a descending wedge on this one. Very clear triangle patter with a bottom on a daily level. Took it on the right on the breakdown and partialed at a daily level. It dropped some more but then quickly got bought back up and got out at break even WFC Trade 2 Very nice ascending wedge on this one. It formed a bullish hammer on the 15 minute chart and entered on a new 5 min and 15 min high. In this trade something went wrong with my hotkey. After I got in I saw I had very little size, so I didn’t take any partials since it was too little profit. If had I normal size it would have been at least a 3:1. JD Another descending wedge on JD. Harmonious chart and down trending on all the time frames. I stayed a while in this one since it chopping around my entry. Eventually I got stopped out above the 9 EMA on the 5 minute chart. It was a vey choppy day today. My position sizing was at some trades not on point. Ended the day with -1.5R 1 Share this post Link to post Share on other sites
Jens 33 Posted October 1, 2019 1 October 2019 AAPL AAPL was on a big gap up today. All the charts looked very bullish and when I saw it was holding the VWAP and all the moving averages in the first two minutes. It bounced I decided to take it long with a stoploss below VWAP and the previous candle. Turned out to be a very good trade with a decent profit. X My second trade was on X. Again a harmonious chart, up trending on all the time frames and no resistance ahead. I entered it long when it broke out of the 10 minute range and the break of the flat wedge. Worked out well, so took partials along the way up. Stopped the rest out at B/E Ended this day green with a profit of 3,5R. I wish I have days like these more often. 1 Share this post Link to post Share on other sites
Rob C 826 Posted October 1, 2019 Very impressive how you caught the whole move on AAPL. That's a lot of discipline to only take profit at tech levels. 1 Share this post Link to post Share on other sites
Jens 33 Posted October 2, 2019 2 October 2019 ETFC After the market was open for 30 minutes I was seeing a ascending wedge pattern on the 1 minute chart. Another bullish signs for me were: A hammer on the 15 minute chart and a false VWAP breakout. I took the first partial around HOD and the second partial at the previous day close. At that point I had around 15% left of my total position. The rest I got stopped out at break even. Had a really nice one and done trade today on EFTC. With this trade I made just under 3R. Because 3R is my daily goal I decided to stop trading for the day. 1 Share this post Link to post Share on other sites
Jens 33 Posted October 7, 2019 4 October 2019 AAPL Traded this stock two times today. The first play was meant to be a harmonious chart play. After I got in because it held VWAP I realized it was a huge drop and not a pullback. Shortly after the entry I got stopped out. The second setup was a descending wedge play. On the 1 minute it made a triple bottom and I got in when it touched that the 3rd time. After I got in I saw there the 50 SMA on the 5 minute and the 9 EMA coming up on the 15 minute chart, so it was not a really a great short setup. I managed to get out at break even before it squeezed up. SRPT SRPT was gapping up on the daily chart and bullish on all the charts. Took a long position at the 3rd touch on the wedge with a stop below the previous candles. It did move in my direction, but not enough for me to take a partial. Eventually got stopped out on a big squeeze. HPQ Descending wedge on this one. Again, down trending on all the time frames and below all the moving averages. Unfortunately didn’t work out and stpped me out. Later this day it made the move I was looking for. Not really a good day. Not happy with my trades on AAPL. It messed my psychology a little bit up. The other two trades were okay but also not the best setups. Had 3 losers in a row so had to stop trading for the day. 2 Share this post Link to post Share on other sites
Jens 33 Posted October 7, 2019 7 October 2019 UBER UBER was gapping up on the daily chart. I was seeing multiple support levels. In the first minute it bounced off those levels and I entered a long position around VWAP. I had set my stop below those support levels. In third time it bounced 1 more time, but in the 4th minute it stopped me out. Not too happy with this trade because there was no clear setup forming. ROKU played a ascending wedge on ROKU. Notice my entry was very late. Was having fomo on it. It looked pretty good on all the charts. A kind of ascending wedge was also forming on the daily chart and it was above all the moving averages. This was a good setup, but had a very bad entry. SDC This was a small descending wedge on the 1 minute chart. it was stalling out on the previous day close. I took it short when it broke that level. Entry a little late again, It did drop a little bit, but I saw that the 50 SMA on the 15 minute chart was acting as support and the 20 EMA on the daily chart was coming up. Managed to get out at break even. AVYA AVYA was forming a clear flat top at the 14 dollar mark. I entered long when it touched the wedge for the 4th time. Shortly after that it did a small pop, but it never really broke the 14 dollar mark. My target here was 14.15, the 200 SMA on the daily chart. AAPL My last trade was on AAPL. I was already down 3R on the day, so shouldn’t even have taken this trade. Despite that it was a good setup. It was trending up on all the charts and took it long when it broke above the previous day high. It moved in my direction, but because I was already down 3R I decided to get out at break even. If I would have held to my original stop it wouldn’t have stopped out and it was a good winner. Hit max loss today. Not really a good trading day. did not take the right setups and didn't manage my trades well Share this post Link to post Share on other sites
