98 replies to this topic

[dTraderB]

ADAM:
When $SPX goes into "melt-down mode - as it does every few months - supports less reliable and like to wash through or fake break-down. To avoid traps, the best approach (IF buying) instead of catching knives is to wait for a broken level to recapture which often starts a squeeze
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Timely warning on #ES_F this morning and unravelled right after, melting through supports.

Make-or-break point here at 3700-3690 as this backtests Decembers breakout zone. Bulls cant defend here, its a major fake breakout/bull trap & the sell leg begins to 3670 then 3620 $SPX
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Big start to 2021 for #ES_F but warning: Daily RSI(5) very overbought at 82, which is ~where we've seen sells since October. Watch risk.

Plan today: My 1st resistance and target remains 3800-3815. In play if 3757 holds - key support today. 3757 fail sees 3740,3722,3695 $SPX
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[dTraderB]

Yeah, many more and better trades coming up in 2021. 

Will build PUTS position to at least 50 on next rally to ATH. 

 

and also BIG CALL position on any major pullback. Looks like markets will trade within a wide band for a few months, maybe from SPX 3600 to 3900 or 4K 

 

I know heh wish I had hung onto my short way longer, was why I wanted to leave some behind, oh well I'm expecting a lot of volatility this year!! 

[dTraderB]

closed hedge long nq 12712. Flat NQ

 

Bulls clawed back from a big drop but still did not manage to recover above the mid-point of the day's range. Today's daily range defines the ST support & resistance with that long red candle. A good first trading day of 2021 but I should have closed more QQQ PUTS during that big move down. 

 

Lost 241 points in Hedge longs, gained 820 points in NQ daytrading, closed a few QQQ PUTS, and left one NQ daytrade short position open, to finish the day with:  

 

13 QQQ PUTS

NET I hedge long NQ 12705

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From last Thursday:

19 qqq puts
1 hedge long 12850
Buy Limit order placed nq 12675
May add more PUTS if nq up ny more than 1% today.
That's it for 2020. Bad start but great recovery.

HAPPY NEW YEAR TO ALL, MAKE ZILLIONS IN 2021!

[dTraderB]

...and started this morning almost exactly where I closed the NQ long hedge

NQ 12710

[12SPX]

Was able to cover my long with the night open yesterday with a 2 point profit but didn't get my rogue trade fill overnight and now joining you d with a long trade at 3680. 

[dTraderB]

Opened nq hedge long 12618

Hesitantly... but must follow the rules

Will add an extra lot to nq short daytrades while hedge position is long

[dTraderB]

Markets may behave as in Jan 2016: down for most of the month

Was able to cover my long with the night open yesterday with a 2 point profit but didn't get my rogue trade fill overnight and now joining you d with a long trade at 3680. 

[12SPX]

Ya I wasn't thinking the very 1st day of the year we would be down as much as we were though lol but just trade it....

[12SPX]

Profit stop 3683

[dTraderB]

Closed hedge long +100.25

Will reopen later

Opened nq hedge long 12618

Hesitantly... but must follow the rules

Will add an extra lot to nq short daytrades while hedge position is long