4/20 Watchlist + Notes

19 апр. 2023 г.

SPY - Went into today with a bearish bias. We opened lower than yesterday's low, but did not reach our 411 target. Instead we retraced over 50% of yesterday's range to form a failed 2D. Since we retraced over 50% we now can target Tuesday's high at 415.72. Overall I am bullish going into tomorrow, but only if we break today's high. Remember when trading with TheStrat we are playing price action, so it is important to recognize that we have a 2-2 reversal on the daily now even though both 2s are failed.

Challenge Account Update and Watchlist
Value: 46.98 (-3.02) Down about $3.00 on the day from a slow moving trade on U. Chop was not fun to sit in and I was seeing some reversal signals so we took a small L. The contract I got ended up running 50% from entry, but overall was not upset about the loss since it was pretty small. Was not able to find another trade so just stayed red on the day with the challenge account

CCL - 50% rule / BF. This is the only stock that showed up on the challenge account scanner so this will be the main watch also. Bullish because of a failed 2d daily. Looking for 9.95 Tomorrow. Need to break 9.86 tomorrow before we can target weekly highs. Could create an engulfing weekly candle if we are bullish tomorrow. Otherwise we target 9.50 to the downside

Previous Main Watch:
U - Loser - bounced off of weekly short trigger and instantly reversed. Curious to see if tomorrow holds downside for U or not

Watchlist Stats:
3/3 SPY predictions
1/4 Main Watch Plays
Top Winner: TSLA (15%)

Personal Stats:
2/3 On the week including challenge account plays
Overall Green still
- Swung puts on T (light position)
- Been a slow week it feels like with the slow moving price action
- May not trade tomorrow due to my schedule
Good luck as always. Trade Smart tomorrow.