Trading Watchlist:
1. CMG – decided to exit CMG for the following reasons:
(1) its price action is chopping sideways after its intial downward trend;
(2) the RUT (broader marker) is currently in an overall parallel channel uptrend; and
(3) the price action is currently at a major support level on the daily timeframe, therefore, likely to rally back up to my initial entry level.
2. UVXY – analysed.
3. BTC – analysed.
4. BTC.D – analysed.
5. DJI – analysed.
6. GE – analysed.
7. QQQ – analysed.
8. RUT – analysed.
9. RL – (analysed) the price action blew past my stop-loss level causing me to sustain a larger than usual loss:
10. JETS – analysed.
11. UAL – analysed.
12. SFM – analysed.
13. WMT – analysed.
14. SOXX – still ranging: showing same price action pattern as BTC.
15. MRNA – analysed.
16. BIIB – analysed.
17. PALL – analysed.
18. WOLF – analysed.
19. DG – analysed.
20. BIDU – analysed.
21. SAP – analysed.
22. US10Y – analysed.
23. TLT – (analysed) it would have been a great entry to have enter TLT when the US10Y hit the top of its parallel channel on 14 January 2025.
24. COST – start scaling into a COST’s short position as soon as possible:
Learning Points
- RL – today, I sustained a larger than usual small loss because I entered this trade without taking into account that RL’s earnings report would be released today (6 Feb 2025). The effect was the that earning report caused the price action to surge insanely to the upside, even altering the price action pattern on the weekly and monthly timeframes.
Next Actions
- Exit CMG trade as soon as possible.
- Set the earning report date on all of my tradingview charts.
- Start scaling into a COST’s short as soon as possible.
