Spring Break

I’m traveling today for spring break and won’t be trading so my morning thoughts will be short.

Yesterday was productive:

The QQQ reclaims the 21 ema and pushed higher after spending some time below the even mark so the bulls came in and supported.

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Now would be a great time to subscribe 👇

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Going forward over the next few days we will want to see that price is accepted back into this consolidation range. — Ideally, the markets can hold this range, consolidate, and then make a push higher after a few sessions.

Setups should start to appear again on the alongside.

That said, we need to also consider the possibility that the rally fails to hold. For shorts, we want to find stocks that ran off the bottom but then came into supply.

Trade review

I made that type of short trade in $BEKE this week. It rallied up hard off the bottom like many Chinese stocks but was showing resistance at the $15 level - which was corresponding with the 21 ema.

Although this trade was working, the sentiment was changing in the overall market so the reward of a nice gain I would receive by covered into the opening flush was better than trying to hold out for a bigger move over a few days — also my vacation influenced the decision to close as I wanted to be in cash on travel days.

Cheers,

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My Trade Journal

I often get questions about what I use for my trade journal. I use Tradervue. It’s really easy to import your trades from your broker. It then will keep stats on your trades and allow you to keep charts of the buys and sells on up to 4-time frames.

I’m a visual person so being able to see what trade looks like on multiple time frames helps me assess how to improve my entries and exits:

On a daily chart, this trade looks really good. — but seeing this RBLX trade on the shorter time frames makes it clear that I should have sold into $140s on that blowoff move in December. So there’s room for improvement.

My Reading List

I’m an avid reader and always have a book (or several) that I’m reading. I’ve started The (Mis)behavior of Markets by Benoit Mandelbrot.

“Not Investment Advice Disclaimer”

The content covered in this blog is NOT to be considered as investment advice. I'm NOT a financial adviser. These are only my own personal and speculative opinions, ideas, theories, hypotheses, charts, technical analysis (TA), insights, curated news publications, and price prediction(s).

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