June 28
Trades:
Trades Taken: 1
SPY
Plan: Friday, so small size in general. Long I like a dip into previous close, not much distance so again small size. Premarket high and range at 548.62 for the short ONLY if it triggers first. I don’t want a short if the long already worked.
Result: Spy dipped past high of day towards previous close before pushing. Numbers at 10:00 allowed a squeeze right into all time high. NOTE: I applied two blue lines after the fact to show all time highs on both markets.
QQQ
Plan: previous close for the long. not much distance, so small size and pay on first push and yesterday’s highs. Short 485 and risk is to all time high.
Result: QQQ dipped right into previous close and based before pushing into previous day high, then squeezing to ATH at 10:00 numbers like SPY.
I took the QQQ dip very early, added and was out by opening price at 50 ma on the intraday. Friday, so I had smaller size and was not able to capture the larger move.
Lesson: Paying incrementally into targets (opening price, a moving average, level, etc) is imperative. Nothing worse than a trade going against you after it worked because you didn’t pay yourself.
Another lesson here. FRIDAYS. Small size, get in and get out, move on with your day. Look at how the rest of the day turned out. Levels were respected but man, wide range today.
June 27
Trades Taken: 2
Trades:
SPY
Plan: Again, 547 level comes in to play for a short on SPY. Speed and distance here should provide a nice opportunity. If we pop and then dip into previous close with enough distance, I may take the long. If there is no distance, I’d like end of day VWAP with the protection of moving averages. Potential good opportunity to work the chart on a long.
Result: SPY pushed from previous close right to the short trigger, then falling and remounting the previous close before heading back up for another test of short level. Right to plan for short, and the distance was there for the previous close long after first move.
I took the second test of short level, I took QQQ short early and had to manage that one. I liked the distance on SPY short better and should have taken that one, lesson learned.
QQQ
Plan: I like the short better on spy. For QQQ, 481.47 level for first stab. Moving averages for a long if there is no distance into the previous close.
Result: I should have listened to my instincts. While I liked SPY short better in premarket, I took QQQ short!? Check out the entries chart link to see how I managed to turn this one from a big red trade, to a small manageable loss.
Lesson: I did not get stopped out on this one, I sold on the retracement back towards level. May have been red, but theres a difference. As you will see on entries chart, I added on push in to risk, got out on the retracement back to level of 481.47. See the “How to add” and “How to stop out” sections to see how I do this!.
June 26
QQQ
Trades:
spy 545 puts, 543 calls twice
Trades Taken: 3
SPY
Looking for a long into low of day, steady sell of in premarket session. Like a short into previous close and 5 ema area. If the long slips low of day, likely heading to 540 range lows.
I took a small starter on spy long first few minutes, paid into morning highs. Then took spy short as we approached short entry area, paid out on first wash. Then took spy calls again with another small starter as we broke morning lows and approached long entry area, again only getting a starter due to not fully triggering level.
Inbetween moving averages this morning in premarket. Prefer the long on a sell off into gap fill of 474. If there is enough distance into the 9 i may take that. Previous close for the short.
QQQ went through previous close level, but gave a perfect opportunity to add and get out even or small red if traded properly. Even when you are wrong or early, there are ways to get back even or green!
Great example here of how resistance flips to support. Price pushed through the level, that level then became support and allowed price to bounce off it multiple times. Great price action this morning session.
June 25
Trades:
SPY 543 calls
Trades Taken: 1
SPY
Looking for a long into the 9 ema on the daily, short into 5 ema and previous high of day, target to be a pullback into previous close which could hold and push.
I took spy 543 calls on morning dip. multiple entries in first 30 minutes as we grinded our way to the 9 ema on the daily. Price action entered the green entry area perfectly for a last entry. Textbook morning right to plan.
QQQ
Looking for a long into the 9 ema on the daily, short into the previous close and 5 ema.
Morning session on qqq showed relative strength compared to spy. I went with spy on the long, easily could have taken qqq, but spy came lower into support. Short trigger came within 30 cents of trigger on late morning push, nice channel today.
June 24
Trades:
SPY 543 calls, a bit early. QQQ 480 puts
Trades Taken: 2
SPY
Looking for a long into the 9 ema on the daily, short into 5 ema and previous high of day, target to be a pullback into previous close which could hold and push.
I took calls after we broke initial morning lows. only got a starter of 2 as we were about to break green entry area. Paid out on push into VWAP for a small victory, this rode to full targets.
Short trigger worked well if holding risk, adding at next level, and getting out on retracement back. Very textbook short action here.
QQQ
Looking for a long into the 9 ema on the daily, short into the previous close and 5 ema.
Morning long triggered well. I traded spy long in morning, then took the QQQ short at previous close according to plan. This lined up as SPY pushed through 1st resistance into 2nd level. Great first test opportunity yet again, it worked all the way to extreme target.