October 18
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Trades Taken: 3
Trade Plan
Plan: Another gap up this morning. I like a dip into moving averages for a long on QQQ, it is a bit far, but a proper setup there would be nice. Previous close for a long on SPY. ATH area for a short on SPY, QQQ has a wider higher range for the short, but it’s there.
Result: Market started with a dip this morning, so my strategy says look for the long plan. I executed with SPY 582 calls for a fantastic first reaction back into the 9 ema intraday. I took another stab at this on the higher low setup with smaller size and got a small move on that too. Second trade came on SPY 585 puts. Not a level trade, rather recognition of price action and having protection of premarket highs. Smaller size, all in all out type of trade due to not being at level. Third trade came on SPY 586 puts at level later in the day. The zoomed out screenshot of this trade really shows the importance of patience and waiting for the level.
October 17
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Trades Taken: 4
Trade Plan
Plan: Decent gap up on markets this morning. SPY right into ATH. QQQ has pure ranges to work with, I like that and will focus on QQQ today. I really like both long setups on QQQ if they trigger correctly.
Result: Market started with a dip, SPY slipping past the first close level. I executed SPY 583 calls and paid out nicely into first target of 9 ema on the intraday chart as usual. A fantastic first reaction trade that had perfect speed and distance into level. Second trade came on SPY 586 puts as we approached ATH from the underside, capitalizing yet again on the first reaction here. Third trade came on QQQ 491 calls as we broke morning lows and neared next level. Another first reaction play right into first target. I took this QQQ calls trade again two more times on maturity second test for two more moves. Fantastic action with levels being respected yet again.
October 16
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Trades Taken: 3
Trade Plan
Plan: Some close levels, some extreme levels. Today should be interesting. Multiple longs on deck for QQQ, especially if the action stays above the previous close before the open. Short trade on QQQ is much cleaner than SPY. SPY into 9 ema and QQQ into the 20 is something I’m interested in no matter what time it tests today, IF/WHEN it tests
Result: Played QQQ 489 calls to start the morning, a fantastic first reaction, kept a piece on that I stopped out on. But notice how my second trade starts on the same minute. I needed to switch strikes as we were quite far from first level, but wanted to stay in for the test of the 20 MA on daily chart. Switched to QQQ 487 calls for yet another fantastic play. I hit this one a second time late morning, both picture perfect entries and first reaction payouts. Third trade came on SPY 578 calls for a nice late morning scalp after stalking the move.
October 15
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Trades Taken: 4
Trade Plan
Plan: First longs are interesting, especially QQQ with enough distance into previous close. High of day is first round of short for both markets.
Result: Three base hits this morning before the morning sell off. A fourth trade came later in the day on SPY calls. First trade on SPY 586 puts in the morning range. Second was SPY 583 calls. Hit this one twice. Was all out on the first test, reentered a second time (technically two different trades). Third trade came on QQQ 499 puts catching morning highs nicely. Fourth trade on SPY 580 calls, a mature test of sell off lows for a nice play. Continued with this trade as we had multiple levels of support for protection. Another nice trade here for gains on predictable reactions.
October 14
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Trades Taken: 2
Trade Plan
Plan: Gap up on markets this morning, putting SPY into further ATH territory. Nothing really on deck for SPY short other than pm highs if we can’t break it. First round of longs for both markets is the previous close, high of day a potential starter area. QQQ has multiple shorts on deck for IF/WHEN we test them. Time of day, how it approaches are all things I consider. I prefer to see a continued gap up heading into open, then take the long on a dip if it happens.
Result: