CAKE, AMZN - scalp

Gapped down. First bar left a long lower tail. 2nd bar is an inside tailed candle closing weak and also closing below S2. Entered short on the 3rd bar. Soon after the entry price retraced to the 5 EMA in narrow range bars on low volume forming a bear flag. Like this type of retracement. Added to the position on the break of the flag. Exited when price moved above 5 EMA after forming bullish candles.


AMZN - scalp trade. This was meant to be a scalp trade from the start. AMZN was relatively weak from the open. 2nd bar was a doji. 3rd bar opened below the close of the 2nd bar. Entered short therewith the high of the 2nd bar as SL and $140 as the target.

Had a loser in GS. Looked like t it was forming a bull flag and entered the trade even with the overhead 5 day EMA as resistance.

I took a swing position in GG yesterday on the break of the base but sold today.

Inverted Cup & Handle - CLF

CLF has been very strong recently and had a big run. I was eyeing for some weakness. Yesterday I entered a short when it formed NRB's but it did not materialize. Today it was relatively weak compared to the market. It gapped up but then sold away and formed the handle at the morning low. It formed 2 IB. Entered short there. Partialled near PDL and the remaining a little above S2. Partials roughly coincided with 50% and 100% extension of the pattern.

SPY gapped up but was unable to hold PDH. Price moved below PDH which now turned into resistance. Price formed doji on it's 2nd attempt to break this resistance. I took a small position and shorted below the dojis. Price broke down sharply on high volume right after entry. Love it when trades move quickly to the targets.

Early in the morning I had a loser in POT.

Ambush Trade - RINO

RINO was weak compared to the strong market in the market. It sold off right after the open but I could not get a nice entry. It then set up an ambush trade. Entered short when price could not hold 50 EMA on 5 min. It was an easy ride to the 50 EMA on 15 min. which was also 50% FE from the morning high to morning low.


I entered SU on the break of 2nd inside bar high. First bar had a nice upper tail followed by a red inside doji within the first bar. 3rd bar initially took out the low of 2nd bar but then moved up. I entered long when price took out 2nd bar high with the upsloping 5 EMA as support. Price moved slower than the snail. Partialled near 37.50 and exited the remaining a few bars later near the same price.

One of my best day

A nice day in terms of R profit. 4 trades in total. X was 0.6R loser. Happy with the other 3.

QLD (Trade based on 5 min. chart)


Nasdaq gapped above the PDH and the first 5 min. bar of QQQQ was a doji. I went long QLD which is same as QQQQ but is 2X which means if Nasdaq moves 1%, QLD moves 2%. This saves some money on commission because I have to go long half the number of shares as QQQQ. Went long on the break of the doji. My target was 38.2% FE measured from PDL to ORH (15 min). 7th bar spiked down and I exited half my position at around 36.21 (1R) to book in some profit and moved the rest to BE. 7th bar formed a nice green hammer on ORH which would have been a nice place to add back to my position but I did not. Price reached the target smoothly after that.

Inside Bar: WYNN


WYNN (Wynn Resorts, Limited) gapped up and the first bar closed just above PDH leaving an upper tail. Real body of the 2nd candle filled the tail and closed strong. Long on the break of 2nd candle high. I was ready to exit my position if the low of 9/5 was taken out. Luckily it did not and price continued up reaching my target of 61.8% FE of the first bar.

Relative Strength: AXP



Market rallied in the morning but AXP (American Express Company) was very weak compared to the market. First bar (1/15) saw some selling and the third bar was a doji that bounced off the 20 EMA. 6th bar formed a not so good red spinning top, 7th candle closed very weak and below PDH and 5 EMA. Entered short on the break of the 7th bar low. Covered my entire position when the bar (shown on the chart with a white arrow beneath) was formed a bullish engulging candle.