Zak

Structural Engineer & Swing Trader | Trading Journal

[Zak @MarketEngr]

@jfsrev You put me on to log charts 🍻

[Zak @MarketEngr]

This one hurt. Another mistake to learn from.

Revisiting my 5/19 sell on $MU .... 35% later

My break below the 10EMA sell rule worked against me here.

Missing out on the next leg up in a market leader while sitting on a 60%+ cushion is enough of a kick in the ass to get better.

Moving forward I will be prioritizing patience when it comes to leaders.

I am dabbling with sitting strategies that include relative strength compared to the overall market rather than moving averages.

This approach seems better suited for sitting without going insane watching each pullback and focusing on strength.

Utilizing a quick and slow moving average on my RS chart is my main idea moving forward.

Anyone else mess this one up?

[Zak @MarketEngr]

@william9in Got taken out at the 10EMA 😢 can’t take your eye off this theme tho

[Zak @MarketEngr]

@saveinvstwealth Hanging out around $200 for a few days would be great

[Zak @MarketEngr]

$QCOM

I know its a time to be cautious, but $QCOM is showing some confluence

+75% prior run

Support on prior resistance

Support on AVWAP anchored to earnings date

Support on 10EMA

A bit of tightness at this level would be nice to see

[Zak @MarketEngr]

$GEN

Entered on 5/13

Post earnings reaction play on AVWAP.

Trimmed 1/3 at 2x initial risk, stops at b/e = winning trade

Has some overhead resistance and 200SMA to work through

[Zak @MarketEngr]

$FROG

Entered on 5/18

Post earnings consolidation on prior resistance and AVWAP

Really liking these entries on prior resistance areas, new found support.

Closed near high of day and new recent RS highs

[Zak @MarketEngr]

$RBRK

Trimmed 1/3 at 2x initial risk

Stops at b/e, nothing fancy

Worst case scenario is now a winning trade

Will watch 10EMA and AVWAP from entry day for more trims

[Zak @MarketEngr]

$RBRK showing strength in a difficult tape

Reclaimed the 150SMA, next resistance will be 200SMA

Will trim some before then and move stops to b/e

[Zak @MarketEngr]

$RBRK showing strength in a difficult tape

Reclaimed the 150SMA, next resistance will be 200SMA

Will trim some before then and move stops to b/e

[Zak @MarketEngr]

$RBRK

Position entered on 5/14.

I used to only buy base breakouts and was never successful.

I have been more successful buying at levels of support rather than resistance, even after a confirmed breakout.

If you think about the mechanics of buying a breakout, you're buying at a level of prior resistance, a prior point of failure, isn't this ironic?

I understand a breakout is the point where buyers overwhelm sellers, but does it make more sense to buy at a point of support rather than resistance?

$RBRK for example, broke out of a bottoming base and immediately tested prior resistance.

This prior resistance is now acting as a support area, this is where I want to get in and place my stop.

If you entered on the breakout day and placed stop at low of day, you're out and the name has advanced without you.

The confluence of prior resistance as new found support and support on the 10EMA made this a viable trade.

Lack of volume on my entry is not ideal, but price action is proving my thesis right so far.

Volume coming in late would be nice to see, RS making recent new highs is encouraging as well.

[Zak @MarketEngr]

$RBRK

Position entered on 5/14.

I used to only buy base breakouts and was never successful.

I have been more successful buying at levels of support rather than resistance, even after a confirmed breakout.

If you think about the mechanics of buying a breakout, you're buying at a level of prior resistance, a prior point of failure, isn't this ironic?

I understand a breakout is the point where buyers overwhelm sellers, but does it make more sense to buy at a point of support rather than resistance?

$RBRK for example, broke out of a bottoming base and immediately tested prior resistance.

This prior resistance is now acting as a support area, this is where I want to get in and place my stop.

If you entered on the breakout day and placed stop at low of day, you're out and the name has advanced without you.

The confluence of prior resistance as new found support and support on the 10EMA made this a viable trade.

Lack of volume on my entry is not ideal, but price action is proving my thesis right so far.

Volume coming in late would be nice to see, RS making recent new highs is encouraging as well.

[Zak @MarketEngr]

$BLDP

Initiated a position on Friday.

Post earnings move is a setup I've grown to gravitate towards.

In this instance, an earnings report was paired with a news event (2 board member resignations).

I was watching this prior to but noticed the market liked the news and it gave me further conviction.

The confluence of earnings, news, and technicals helps.

Friday news events are interesting because they give the market time to digest the news and let it spread over the weekend. Curious to see how this plays out.

[Zak @MarketEngr]

$DOCN

Technical confluence is something I want to prioritize more in my trading.

I want to find as many pieces to the puzzle before making a decision.

In this instance, AVWAP, HVC, 10EMA, and an inside day all occurring at once can be those pieces Im looking for. Not to mention RS near highs and volume/price contraction after an earnings catalyst.

You can argue this name is extended/tired and needs a basing period and neither thesis would be wrong.

Food for thought.

[Zak @MarketEngr]

@william9in Yeah fast mover for sure. I sized down substantially, luckily. Could’ve been way worse

[Zak @MarketEngr]

$XNDU

Caught in an unfortunate news event.

Crazy thing is, I still have a position. Playing with fire but Im trailing this for a better sale price.

I only do this because I have expirenced news events similar but price bounces and I got out immediately.

[Zak @MarketEngr]

$SKM $HUT | SOLD

Good runs in both names, but felt like they were losing steam and triggered my trailing sell rules.

$HUT ended up shaking me out and closing near highs of todays ranges, did nothing wrong. Will keep an eye on it

I like to tighten up my stops when we get a first close under the 10EMA.

I've liked this selling mechanism as it forces you to take profit and it largely helps avoid basing periods as strong trends respect their 10EMA historically.

I dont mind selling early while a name bases and re-establishing a position later. I did this with $FSLY $MU $SNDK and others.

Theres no issue in taking profits and reallocating your capital if there are better opportunities available. but, if you sell a leader, itd be wise to add it to a watchlist as it bases.

[Zak @MarketEngr]

$LITE | TRIM

Took some off the table given earnings tomorrow.

I have a decent cushion but my position grew to +15% of my portfolio and I don't feel like being a cowboy riding that into earnings.

Stop at b/e and hoping something similar to $BE happens here.

Really enjoying undercut and reclaim type of entries lately. I used to only buy breakouts but buying on pullbacks or shakeouts has been working nicely for me. Have noticed my style shifting a bit.

[Zak @MarketEngr]

$BW | 5% BUY

A little early to the party here but I liked how this name undercut recent support and reclaimed the 50SMA to then close the day up on above average volume.

Earnings in a few days so hoping to establish some cushion prior to then.

Stop at LOD, will trim at multiple of risk (2R, 3R).

[Zak @MarketEngr]

Downward trend line breakout $CRML

[Zak @MarketEngr]

$FIGS Trying to end the week with a breakout