Trading Watchlist:
1. BTC – the price action is extremely extended on the long-term timeframes:
2. US10Y – analysed.
3. TLT – analysed.
4. US10 – analysed.
5. RUT – analysed: ranging on daily timeframe.
6. WOLF – analysed.
7. CMG – analysed.
8. AXP – analysed.
9. SFM – analysed.
10. COST – analysed.
11. JETS – analysed.
12. UAL – analysed.
13. INTC – analysed.
14. DG – sustained a small loss on DG as the price action has now triggered my stop-loss level:
Unfortunately, there has not (as yet) been a January pop as hoped for.
15. WBA – analysed.
16. BIIB – analysed.
17. UVXY – (analysed) take 50% profit if possible at key resistance levels:
If I had carried out this strategy before, I would have accumulated significant profits from all of my UVXY trades.
18. BIDU – analysed.
19. TIGR – analysed.
20. PALL – analysed.
21. SOXX – analysed.
22. TSM – analysed.
23. BTC.D – analysed using parallel channel.
24. FDX – analysed.
25. XAUUSD – analysed.
26. MU – analysed.
27. AMD – analysed.
Learning Points
- DG – continue to enter every trade assuming that you are wrong (worse case scenario) until the price action indicates otherwise.
- UVXY – continue to analysis the markets everyday in order to discover how best to trade certain assets like you have successfully done with FDX, and now UVXY.
- Combining day trading key levels with swing trading (as done by Gareth Soloway) may be a good way to diversify, and continue progressing my trading ability.
Next Action
- Exit 50% profit of UVXY trade as soon as possible.
- Watch today’s “Verified Game Plan”.
- Watch today’s “Trading the Close”.
- Update trading spreadsheet with latest winning and losing trades.
