First trade in over a month. RTY has been on a tear for the past month as small caps have outperformed the large cap indices by a significant margin. There was 3 levels of resistance at around 1936. Shorted 30 MRTY @ 1936.7. The bulk of my scales were at… Read more“Back in the Saddle”
Author: smallfry
How not to trade
Day after US election day and markets gapped up even though no one had a clue who was POTUS in the morning. This gap up coming after two solid days in the green for the indices. Took a MES short at 3457.25 the S3 resistance line with a 50 point… Read more“How not to trade”
Being Stubborn
Indices gapped down this morning. MNQ displayed relative strength. Shorted 10 contracts at 11646.50 where the standard deviation high (yellow line) and 3 min 21 EMA coincided with a 30 second overbought stochastic. Price shot up to close the morning gap before it started to reverse. Exited 5@11626.20 at the… Read more“Being Stubborn”
Three Trades
Made 3 trades today trading MNQ all to the long side. Batted 1 for 3 and ended with a loss of $186. Price action off the open was strong with a large delta on the first 3 min candle as it broke the pivot of 1701.50. Bought the pullback off… Read more“Three Trades”
Consolidation Day
After a massive up day yesterday, one expects rotational price action the day after. Except for NQ, the three other indices gapped down with RTY being the weakest. I initially wanted to buy the dip at 1621.80 but price didn’t reach the entry. Entered short 2@1633.7 on the bounce up… Read more“Consolidation Day”
Small Gain
After a big up day yesterday, I expected more rotational action today. Shorted 2 YM@28164 where there were three levels of resistance, one of them being the 1.272 extension from the previous swing low. Many times when price reaches the 1.272 or 1.618 extension, it signals a potential reversal. Exited… Read more“Small Gain”
Fugly Friday
Took two short trades today and got bitch slapped by the short squeeze off the gap down open due to the news that POTUS has COVID. How is that possible? We all know COVID is fake news. I digress. Had 3 levels of resistance around the 1510 area in RTY…. Read more“Fugly Friday”
TGIF
RTY had a slight gap down. Looked for a rejection at the 1448 level where we had a confluence of levels. Stochastic was overbought only on the 30 sec chart. Shorted 3@1448. Wasn’t thrilled with the price action since it came close to stopping me out when it hit a… Read more“TGIF”
Operator Error
I was looking for a potential bounce this morning after a big down day yesterday. RTY should have strong support at around 1427.5. There was a confluence of 3 levels. Also the initial downswing from the open was roughly 20 points which usually for RTY signals exhaustion. Stochastics on all… Read more“Operator Error”
Manic Monday
Indices gapped up this morning. Looked to short NQ into resistance at the dynamic pivot and previous day’s high which were both within the Fibonacci Zone (FZ) (shaded area). Stochastics were overbought on all time frames. Shorted 1@11287.50. Added 1@11306.50, the top of the FZ and another at 11311.75 with… Read more“Manic Monday”