Trading Watchlist:
1. WOLF
The reality is that I entered into a weak long position concerning purple line number 1 (above), and the price action, now, seems to be hitting sell resistance on the 4 hour timeframe.
Therefore, I am considering reducing my losses in regard to this entry position, although in the long-term I see WOLF rising much higher.
If it does not do so, however, it will cause me to be saddled with an unnecessary loss, which will increase if the price action starts to decline from this point onwards.
2. HOOD – analysed.
3. XAUUSD – analysed.
4. GFI – analysed.
5. NATGAS – analysed.
6. UNG – analysed.
7. DJI – analysed.
8. GE – analysed.
9. BTC – analysed.
10. SOLUSDT – analysed.
11. UVXY – analysed.
12. QQQ – analysed.
13. SPY – analysed.
14. RUT – analysed.
15. DG – analysed.
16. US10Y – close TLT trade, with a small loss, as US10Y’s price action is now not moving as anticipated:
17. TLT
18. JETS – analysed.
19. UAL – analysed.
20. TTD – analysed.
21. DECK – analysed.
Learning Points
- Continue to monitor the main markets (RUTS, QQQ, and SPY) to see if they can still remain bullish on the 1 hour timeframe.
. - Parallel Channels reveal where best to add additional capital to a trade, as well as where most advantageous to take profits.
Next Actions
- Consider closing the losing WOLF entry trade to stop it from continuing to drag down the amount of the profitable WOLF entry.
- Close TLT trade immediately as the US10Y is not moving as expected.
- Keep a close eye on DECK.
- Keep a close eye on TTD.
- Watch today’s “Trading the Close”.
