Trading Watchlist:
1. CMG – following Soloway’s recommendation, I took 50% profit in regard to my CMG position because the price action is now at a major support level on the daily timeframe:
2. COST – if COST’s price action manages to rise above the current resistance level on the daily timeframe, then consider taking at least 50% profit out of the current trade:
3. WMT – analysed.
4. SFM – analysed: as foreseen, the price action of SFM bounced up at the daily timeframe support level. Therefore, in the future, I will always consider taking 50% profit off the table when the price action follows a similar pattern:
5. JETS – analysed.
6. UAL – analysed.
7. JPM – analysed.
8. QQQ – add additional capital to QQQ trade as chart pattern suggests that the price action has pull-backed nicely to the parallel channel (scene of the crime), and the Tekan and Kijun:
9. UVXY – analysed.
10. AXP – analysed.
11. PALL – analysed.
12. BIDU – analysed.
13. TIGR – analysed.
14. XAUUSD – analysed.
15. GDX – analysed.
Learning Point
- Watching “The Game Plan” and “Trading the Close” everyday is making a big difference (speeding up my learning process) to my trading analysis and results.
Next Action
- Take 50% profit from CMG trade as soon as possible.
- Update new trading spreadsheet with latest trades.
- Keep an eye on COST in order to potentially add additional capital to the trade.
- Add additional capital to QQQ trade as soon as possible.
- Continue to watch “The Game Plan” everyday.
- Continue to watch “Trading the Close” everyday.
