Trading Watchlist:
1. SMCI – monitor this stock closely for the next week or so:
2. UAL – analysed.
3. QQQ – analysed.
4. SPY – analysed.
5. RUT – analysed.
6. BTC – analysed.
7. UVXY – analysed.
8. TTD – analysed.
9. DECK – analysed.
10. CMG – analysed.
11. GDX – analysed.
12. NATGAS – analysed.
13. UVXY
Start scaling into a UVXY long trade as soon as possible.
14. SFM – analysed.
15. MRNA
Monitor MRNA closely in next few hours and days in order to exit the position with the smallest loss possible.
Learning Points
- UVXY
When trading UVXY on the 1 hour timeframe, it is extremely important to make sure that I re-assess the market every 60 minutes or so.
Because this will ensure that I do lose capital unnecessarily if the price action breaks the hope for bullish or bearish price acton structure.
As a result, when the price action broke out of the parallel channel on the 1 hour timeframe, then return to the scene of the crime, I would have exited the trade at this point if I was on my computer..
.
- Yesterday, I noticed that I am starting to fall into the trap again of getting emotionally attached to or distracted by my overall portfolio profit and loss.
So, I have got to get into the habit of ignoring it again in the short-term.
Next Actions
- Watch today’s “Verified Game Plan”.
- Closely monitor SMCI.
- Start scaling into a UVXY long as soon as possible.
- Monitor MRNA closely in order to exit the long trade as soon as possible.
- Watch today’s “Trading the Close”.
