Trading Watchlist
1. SOXX
As can be seen above, a large trader or investor is selling into the market on the 5 minute timeframe everyday since the price action of SOXX reached the top of its parallel channel.
It seems that, cleverly, they are also later causing the price action to rise throughout the trading day so that they can again sell heavily into the market when it re-opens.
As a result, let’s see if this continues to tomorrow.
The implications is that it may indicate that the price of BTC, and eventually the overall market, will start declining because as they say “where SOXX goes, the rest of the market follows”.
Therefore, as it currently stands, I should seriously consider continuing to hold on to all of my short positions.
2. QQQ – analysed.
3. SPY – analysed.
4. RUT – analysed.
5. UVXY – analysed.
6. US10Y – analysed.
7. SFM – analysed.
8. BTC.D – analysed.
9. UAL – analysed.
10. JETS – analysed.
11. NFLX – analysed.
12. FDX – analysed.
13. TIGR – analysed.
14. BIDU – analysed.
15. AVGO – analysed.
16. TLT – analysed.
17. SOXS – analysed.
18. PALL – keep a close eye on PALL.
19. XAUUSD – analysed.
20. GFI – analysed.
21. BABA – analysed.
Learning Points
- The price action of UAL and JETS looks like good opportunities to go long, however, I am mindful of the fact that I thnk that probabilities favours a move to the downside for the broader US market (SOXX).
This is revealing to me that the weakness of my previous trading ability (only month ago) was that I failed to take into conisderation what the wider market was doing before entering every single trade.
Next Action
- Watch today’s “Trading the Close“.
- Continue to monitor the price action movement of SOXX every 4 hours.
- Continue to monitor the price action of BTC every 4 hours.
- Continue to monitor the percentage action of BTC.D.
- Keep a close eye on PALL.
