Hello everyone and welcome back to day 5 of the challenge account
** THIS IS NOT FINANCIAL ADVICE**
**ALL TIMES BASED ON PST**
( Account got locked so had to move funds over , only $894.12 was moved over today the remaining $911.19 will be moved over tomorrow making the total $1805.60 which was the closing account value on 9/10 , so the values below have been adjusted to keep P/L coherent to original account).
OPEN : $1805.60 ($894.12)
CLOSE : $2129.35 ($1217.87)
CHART KEY :
GREEN CIRCLE = ENTRY
RED CIRCLE = EXIT
BLUE TEXT (any other color text) = WHAT I DID
ORANGE TEXT = OTHER TRADE POSSIBILITIES
For the most part , my morning trade plan revolved around what SPY was going to do along with a few picks from this last week's watchlist including AFRM, SNOW and NVDA. But unfortunately I did not completely follow my gameplan on SPY , and missed out on a decent chunk of profit.
Let's go over SPY to start
1 MIN CHART
Off the open we see a multi candle hold under the key 449 level , this was definitely a good short trad opportunity as pointed out in the morning list , but for some reason I just didn't end up taking it , just began over thinking if I should take same days , same weeks or even a week out as a result I just let it go without me.
I looked to take a long trade off 447 , good trade idea , but wth sellers pushing in strong , got stopped out pretty quickly after the bounce rejection off the VWAP.
The 2nd trade on this one was not the best , as once I saw buyers hold the gap and recapture 446.26 , I was interested in going long for a potential break over 447. As seen above that did not pan out , and we rejected to form a new low. This is a trade where I should've taken short at 447 following trend on day and hold under vwap. Not a terrible loss about $10 per contract , but we missed the good profit potential on the downside.
SATISFACTION (5/5) and (3/5)
- Morning trad was executed well , knew it was counter trend , so wnet in smaller size , and kept a tight stop . Executed as necessary
- 2nd trade had some work to be done , because it was counter trend , UNDER key 447 level , UNDER vwap. The one thing did well was keep a tight stop due to counter trend , and this allowed us to take minimal losses , and not get caught on the flush. Probably should've waited for 447 to break to go long , or just taken the short side trade.
TRADE 2 - $SNOW:
-Perfect trade of the day, this was beautiful... and it was also on our weekly watchlist 👀. 318 break followed by an almost insane $20 flush 🚀.
- Perfect entry , waited for the morning rejection. We held 318 at the open , came back held under vwap , broke and held under to give us a solid entry. After the entry , we basically completely flushed within a few minutes and hit our first 2 targets , took profit and then enjoyed our day 🚀😱.
TRADE 3 - $AFRM
5 MIN CHART
- Buyers held 110 at the open , we broke to the downside and i began eyeing a potential reversal due to AFRM' s recent strong up trend. Once the key 105 area bagan to hold again , started to look for the long trade, got in with our stop under 105 , while looking for a 110 breakout. 110 broke we got towards HOD , took some profit. 110 held on the pullback, made new highs.
- After the new highs, we rejected and began to hold back under the morning HOD at 112.5 Started to get interested in short side trades again looking for a 110 break this time for a potential flush , which didn't transpire. We did get a lower 5 minute hold but just went sideways to close the day.
SATISFACTION (5/5) and (3/5)
- Morning trad was executed pretty well , getting back in on a 5 min reversal and higher hold , having a good target and stop in place. 110 hit and broke giving us ou first sell target into HOD where I got out. (5/5)
- The 2nd trade was executed alright , as we price did begin holding lower on the push down. But 110 was being maintained and buyers held vwap, so we got out with a small loss. Technically speaking the stop loss off 111 didn't break and we could've kpt holding into eod , but f we can get back under 110 tomorrow , I'll gladly put the trad back on the table :)
That's it for today's recap , all three trades were on our watchlist for this week , and we utilized key levels from that list to take these trades. If we can do it , so can you !!!! Solid day , was up around 600+ in the morning. could've definitely held onto more profits , but can't complain with another green day on the board 💥
If your interested in following these exact trads live , come over and join us :)
IF YOUR INTERESTED IN FOLLOWING ALONG WITH OUR SMALL ACCOUNT CHALLENGE LIVE , FIRST WEEK IS 100% FREE , HIT THE LINK BELOW TO JOIN NOW WITH THE FREE TRIAL;
@ https://www.truetradellc.com/stock-signals-membership or contact our IG @ (Truetrade_llc)
If you haven't already check our our free watchlist this week : https://www.truetradellc.com/post/market-watchlist-9-13-9-17 , already had some nice bangers 🔥🔥🔥
Have a wonderful rest of your day everyone, drop any questions down below !