Trading Watchlist:
1. UVXY
Start scaling into the VIX long again (including limit order), this time with larger amounts, as I have now gained far more experience trading this market.
2. SAP
3. FFIV – start scaling into a FFIV short as soon as:
4. WMT – unfortunately, stop-loss level triggered and a limit order (that I forgot about) has now entered me into a short position:
Instead of immediately exiting the trade at a small loss, it is worth waiting patiently for a potential pullback (because I have a stop-loss in place), then exit the position. Let’s see how this plays out.
5. SOXX – still moving sideways (ranging) on the daily timeframe with a bias to the downside on the weekly and monthly timeframes.
6. QQQ – analysed.
7. RUT – analysed.
8. US10Y – analysed.
9. US10 – ranging.
10. TLT – analysed.
11. DXY – analysed.
12. XAUUSD – analysed.
13. DJI – analysed.
14. WOLF – analysed.
15. BIIB – analysed.
16. AAL – analysed.
17. UAL – analysed.
18. JETS – analysed.
19. BIDU – analysed.
20. TIGR – analysed.
21. SPY – analysed.
22. USOIL – analysed.
23. UCO – using a limit order, start scaling into a UCO long in light of USOIL’s price action movement:
Learning Points
- Using parallel channel has dramatically improved my trading ability. I now know when entries and exits have a higher probability of success, and it enables me to wait patiently for trade setups more effortlessly.
Next Action
- Start scaling into UVXY long with larger amounts (include limit order) as soon as the markets re-open.
- Start scaling into a FFIV short as soon as possible.
- Monitor WMT everday in order to exit current short position.
- Using a limit order, start scaling into a UCO long as soon as possible.
- Watch today’s “Verified Game Plan”.
- Watch today’s “Trading the Close”.
