Trading Watchlist:
1. CMG – analysed:
2. USOIL – still ranging with a bias to the downside.
3. JETS – still bullish price action.
4. UAL – still bullish price action.
5. BTC – bullish.
6. BTC.D – percentage action structure still bullish as expected.
7. MARA – analysed.
8. UVXY – analysed: still acting as an effective hedge against the stock market suddenly declining.
9. SOXX – still ranging.
10. RUT – still bullish price action structure.
11. SFM – analysed.
12. AXP – analysed.
13. COST – analysed.
14. WMT – analysed.
15. BIDU – analysed:
16. TIGR – analysed.
17. NATGAS – analysed: no man’s land on the daily timeframe.
18. PALL – still in no man’s land on the daily timeframe.
19. XAUUSD – analysed.
20. INTC – analysed.
21. FDX – ranging: stay out of any possible trade.
22. DG – analysed: almost ready for a proper long breakout so keep a close eye on this stock everyday:
23. X – analysed: interesting price action pattern starting to form so continue to monitor everyday.
24. US10Y – analysed.
25. TLT – analysed.
26. US10 – analysed.
Learning Points
- The parallel channels are proving very powerful in terms of allowing me to scale in early at the right time to catch a strong price action decline.
- CMG – using the Kijun on the daily timeframe seems to be the key to adding additional capital to a trade with the highest probabilities of success.
Next Actions
- Use parallel channels to assess when SFM, AXP, COST, JETS, UAL, and WMT may be ready to decline strongly.
- Continue to monitor the effectiveness of adding additional capital to a trade using the Kijun on the daily timeframe.
