TRADING RULES THREAD
Every trader should have a set list of concrete rules that they follow every day. In the few years that Ive been trading, Ive gathered some from traders that’ve taught me and developed several of my own as well. Maybe these can help you too $SPY $SPX $QQQ
For my non Floridian peers, we are down here awaiting what is truly a monster storm. In my entire life, I’ve never seen the state in this much panic.
God speed
I’ve been off the charts for a little while now due to extreme changes in my daily life. Positive changes, but nonetheless, extreme. I no longer have the ability to stare at charts all day waiting for the perfect trade as I have for the past few years. This, I don’t believe is permanent, but the time frame is indefinite currently. Still trying to find a way to keep chasing this dream while still being where I’m needed in the other roles assigned to me. So, yes, I’m still here, but just off grid for a little while. You can take the CA$H outta the markets, but you can’t take the markets outta the CA$H.
I will return. Till then, stay bricked, my brethren.
$AMD
Price action appearing to be very telling here. A+ setup really as far as technicals go. All depends on $NVDA earnings.
As I always say though, technicals + news = 💰
$AMD
Quarterly ➡️ Weekly
Chip stocks have seen a healthy pullback in recent weeks, and it appears that $AMD is due to start making the climb higher again very soon. Quarterly chart shows bullish structure with two internal candles and a FVG below sitting right at the 8EMA.
Sellside liquidity taken into the FVG, equal highs sitting at 187, and ERL at all time highs. Will be looking for bullish setups on the daily and weekly timeframes. If FVG fails, sub 100 can be seen. Will make for a great long trade. Shares or LEAPS.
$SHOP Monthly
Two internal candles, looking for the low to be swept into the OB, then a quick rip to 78. Keep track of daily and H4 for entries. Earnings coming up.
What we expect markets to do doesn’t matter. Job is to trade what’s given, not predict. However, I do see price trading up into this bearish FVG. Once there, can look for bearish setups on lower time frames. Not quite sure we’re done with all the downside yet as there’s lots still to happen this week.
$SPY Weekly ➡️ Daily
Couple different things happening here. Weekly bounce at the MOAT and bullish FVG. Pretty strong close above it. If this pullback is over, we should start to head towards new ATH again.
Daily chart however has a bearish look to it. Inside bar with bearish FVG above. Once Thursdays high is taken out into the FVG, can ideally look for bearish setups to head back down. If daily FVG inverses this week, calls to new ATH.
If weekly FVG inverses this week, look to 518.
Interesting setup on $NQ. Trading in a very tight range, bearish daily FVG above. Goal would be to wait for the sweep of the high into the FVG, look for bearish setups on 15 minute - 1Hr once high is taken, then target the low of the range. Would make for a very dirty trade if so.
$CHWY Weekly ➡️ Daily
Said it once, I’ll say it again. Chewy is brewing one. Three internal weekly candles, trading in a range waiting for one side to break to catch somebody offsides. Daily OB below. Structure bullish, EMA’s bullish. Looking for low to be swept into the OB, then a clean run to 30, then 39.
$SPY Weekly ➡️ Daily
Couple different things happening here. Weekly bounce at the MOAT and bullish FVG. Pretty strong close above it. If this pullback is over, we should start to head towards new ATH again.
Daily chart however has a bearish look to it. Inside bar with bearish FVG above. Once Thursdays high is taken out into the FVG, can ideally look for bearish setups to head back down. If daily FVG inverses this week, calls to new ATH.
If weekly FVG inverses this week, look to 518.
$SHOP Monthly
Two internal candles, looking for the low to be swept into the OB, then a quick rip to 78. Keep track of daily and H4 for entries. Earnings coming up.