June 15 Trades: Shorts - MOS, USO, SPY

Shorted on the break of 3rd bar low. Added to the position after it formed 2 NRB's. Took partial along the way and folded the remaining position $64.60.

I took a small position in OIL short. WRB followed by 2 NRB's. Break when low of the 2nd NRB was taken out.

Took me 2 attempts to get this right. Shorted first on the break of 15min - 4th bar low which ended in a small loss. Price moved sideways to reach the 5 EMA. 8/15 closed below S2 and shorted when the trendline was broken.

Short - SLV, USO, CNX

Commodities were weak today. CNX was on my watchlist because the daily chart had a short setup under the PDL. First bar is a spinning top hitting the 50 EMA resistance. 2nd bar penetrates the PDL but closes above it. Entry is when price takes out the low of the 2nd bar. Since it was based on daily chart, set a decent target esp. when market/sector favors the trend.

USO gapped down, tried to rally in the first bar, then formed a consolidation of NRB. I shorted when price took out the low of the consolidation but was immediately stopped out in a fake breakout. Price then formed 2 narrow spinning top bars which was an excellent entry but I missed this entry. Price then moved down beautifully.

SLV gapped down near s2. Moved sideways till 5 EMA caught up with price. My entry was on the break of 5th bar low. There was low risk entry just after that. Nice downward movement in SLV.

This is my friday trade. Entry was on the break of the trendline.

W Pattern - TNA

A very choppy day. Market opened strong on better than expected job report but within 10 mins. started sharp sell-off filling the gap. At around 2.30 pm, volume started to pick up on TNA which is Small Caps Bull 3X Shares. Chart resembled 'W' (not a very clean W) without the last leg up. TNA formed a hammer on high volume. First sign that a short term reversal may occur soon. The next 2 bars after the hammer violated the previous low but reversed immediately. My entry was based on 1 min. There was a break in trendline followed by some consolidation. I entered there with the PDH as my initial target. Took off 3/4th of my position at PDH and sold the rest at the last bar.