Trading Watchlist
1. THETAUSDT
2. BTC – analysed.
3. SOXX – (analysed) still maintaining its bullish price action structure.
4. QQQ – (analysed) QQQ surprising extreme bullish price action movement today. I am very fortunate that I have all long position in play at the moment in relation to my trading account portfolio.
5. RUT – analysed.
6. SPY – (analysed) confirmed breakout of its bearish price action structure. So, well done for closing all of your short positions last week, and keeping and adding to your long positions instead.
7. US10Y – analysed.
8. TLT – keep a close eye on TLT as there will potentially be a great long trade in play, as the US10Y is likely to start declining in the next week or so.
9. GFI – analysed.
10. XAUUSD – analysed.
11. SFM – analysed.
12. NFLX – analysed.
13. BIDU – analysed.
14. AMD – analysed.
15. NATGAS – analysed.
16. UNG – analysed.
17. DG – analysed.
18. BIIB – analysed.
19. AVGO
Start scaling into an AVGO short, as a short-term play, because I am expecting the price action of SOXX to pull back due to hitting a major resistance level today (diagonal trendline).
20. UVXY
Start scaling into a UVXY long (as a short-term play) as I am expecting the broader US markets to pull back in due course after have a tremendously strong rally in the last week or so.
21. TIGR
Start scaling into a TIGR short (short-term play) as soon as possible.
Learning Point
- THETA – ideally wait for the price action of THETA to pull back further before being able to make high-probability (low risk) long entry.
So, in order to achieve this, all that I have got to do is consistently and diligently monitor the price action of THETA everyday.
This is where weekly planning and daily to do list come into play as a necessary part of being about to trade brilliantly.
Additionally, it is important to remember that for the price of ETH, SOL, and THETA to rally; we are still going to need Bitcoin to also re-surge to the upside first – before BTC.D falls – enabling the Altcoins to rise to new all time highs.
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- To ensure that my trades have the highest probabilities possible, today I re-learned that it is best to make them in accordance with the daily timeframe.
If the price action is near the bottom of the parallel channel on the daily timeframe, or near its Kijun, then this is likely to be a guaranteed high probability trade.
The reverse is also true. The further away the price action is from the Kijun on the daily timeframe, then the lower the probabilities of it being a high probability trade.
In this respect, it is very difficult for the average trader to trade in this way because of the strong feeling of missing out that arise naturally as a result of seeing the price action move violently on the 4 hour and other lower timeframes.
. - AVGO & UVXY – today I am practicing having some short-term short trades, running along side my longer-term longs.
I guess the key thing that I am learning is to first know what the broader US market is doing, then trade accordingly.
As long as I know what SOXX is likely to do, then (in theory) this should enable me to be extremely clever about how I put together my long and short-term trades.
Next Action
- Continue to monitor the price action of BTC everyday to prepare for a really profitable Altcoin trade.
- Continue to monitor the price action of SOXX everyday to ascertain the most likely direction of the broader US market.
- Keep a close eye on the US10Y everyday.
- Start scaling into an AVGO short immediately.
- Start scaling into a UVXY long as soon as possible.
- Start scaling into a TIGR short as soon as possible.
