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Made a couple bad trades with AUDUSD and GBPUSD and reviewed the reason why the trades failed. The EURUSD trade is looking great. I added another currency setup to the mix. Still a few stock setups I'm waiting to retrace but $ISR, $IRWD, $HART, $TWTR and the OTC play $WPWR are trades that are looking great. $TWTR option play 100% winner and $WPWR up over 46%. $HART is a great example of how I trade my strategy, taking partial profit at 10%. $KING IPO was a good trade as well, bought at the 30 minute demand zone and immediately went up in the green. Portfolio is looking great so far.SHADED GREEN ZONES = Strong Buy Zones
SHADED RED ZONES = Strong Sell Zones
Questions or comments email me -> magictrader@outlook.com
Markets Overview:
Take note of the green demand zones mapped out below. These areas are where there are the unfilled orders from the institutions. Until the market drops down to these levels there isn't much demand to propel these markets to higher highs. So if we see the markets collapse next week, I am putting my money on the zones shown below in green as being where the markets will bounce from. The past has shown, that I've been around 95% accurate with timing market bounces. I'm not perfect, but I am extremely accurate.
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| April 10 |
$SPY --> Market broke through my first 30 min supply zone but respected this 2nd supply zone drawn below. Then dropped pretty predictably since there was no fresh demand areas where institutions were willing to buy.
Currencies:
The Million Dollar Strategy:
Chart Setup --> Chart has an 89 period EMA and an 8 period EMA, RSI indicator of 60 overbought and 40 oversold.
Buying or Selling when price enters a 240 minute area of demand/supply outlined by the green zone/red zone. First target will be opposing 240 min supply zone/demand zone and or once price crosses the 89 EMA then a close below/above the 8 EMA will be the sign to take profit or close the trade.
EURUSD --> I am waiting for the EURO to drop a little further down for me to activate this trade.
April 3rd Update -> Due to news this am, the EURO is now heading toward entry point.
April 4th Entry -> Trade activated, came into zone after a couple bounces.
April 7th -> the EURO has taken off this am as expected. Will be watching it for a cross up above the 89 EMA so that the 8 EMA profit taking rule takes effect.
April 8th update -> trade is looking really good so far. 8 EMA has crossed above the 89 EMA which now lets me concentrate on the 8 EMA. Once price closes below the 8 EMA I will take partial profits.
April 9th Update -> Position was added to twice this am, EURO showing great strength. I still believe we see this sucker head toward my two targets on the chart. But I will be watching the 1.38700 area because this is where on the 30 min chart we had previous demand become supply. On March 24th we had an aggressive drop from this area so we may see another temporary drop from here again. Possible area to take profit and then add to position again on the dip.
April 9 Profit taking -> as mentioned above, price hit exactly at the 1.38700 level and started to decline. I took partial profits and will let it retrace a bit and take a breather. I have an order to add back my position shown below.
April 10 Profit Target 1 -> Hit 1rst target for a nice profit, adjusted stop loss to protect profits and will let rest ride up to second target or a close below the 8 EMA.
GBPUSD --> Looking for a retrace into the 240 demand below to take entry.
GBPUSD --> Looking for the British Pound to rally up into the 240 min supply zone mapped out below for a short position. I really like this supply zone as it was created as a reaction to a previous demand zone. These make the best zones to trade from. May take some time to setup, will be patient.
CHFUSD --> Looking for price to drop into the 240 min demand zone below for me to catch the trend and ride this one up. My thoughts are that trend is changing now after hitting some weekly demand and on the way up breaking through some 240 supply.
April 10th Update -> Trade Activated in at 0.87555
NZDUSD --> Just opened this trade, 30 min demand zone, should be a quick trade for me. Target outlined below.
Futures:
The 30 Minute Chart Strategy:
Chart Setup --> Chart has an 89 period EMA and an 8 period EMA, RSI indicator of 60 overbought and 40 oversold.
Buying or Selling when price enters a 30 minute area of demand/supply outlined by the green zone/red zone. First target will be opposing 30 min supply zone/demand zone and or once price crosses the 89 EMA then a close below/above the 8 EMA will be the sign to take profit or close the trade.
The 240 Minute Chart Strategy:
Buying or Selling when price enters a 240 minute area of demand/supply outlined by the green zone/red zone. First target will be opposing 240 min supply zone/demand zone and or once price crosses the 89 EMA then a close below/above the 8 EMA will be the sign to take profit or close the trade.
$NG --> (30 Min) Nat Gas looks like it wants to drop a little after this rally. If if does, I'll look to go long in the 30 min demand zone shown on the chart and then this will become a 30 Minute Chart Strategy from there. One target is outlined on the chart.
April 10 update -> NO TRADE - Nat Gas figure came out this am at 9:30 and pushed price way to hard for me to try to go against trend.
$NG --> (30 Min) Played this one really well in the past and now will wait for it to rally up to the supply zone above to short it.
$SI --> (240 Min) Silver just bounced off 240 min demand and is heading upward into a nice 240 supply zone where I will short it and decide on targets.
April 10th update -> Missed entry by a fraction this am, should have included the bottom of the wick of the supply zone and I would be in the trade right now.
April 10th -> trade is now in the zone, missed entry. Will watch it for next weeks moves.
Stocks & Options:
The 30 Minute Chart Strategy:
Chart Setup --> Chart has an 89 period EMA, a 45 period EMA and an 8 period EMA, RSI indicator of 60 overbought and 40 oversold.
Buying or Selling when price enters a 30 minute area of demand/supply outlined by the green zone/red zone. First target will be opposing 30 min supply zone/demand zone and or once price crosses the 89 EMA then a close below/above the 8 EMA will be the sign to take profit or close the trade. If price action is strong, then I will add to position when price touches the 45 EMA.
The Daily Chart Strategy:
Chart Setup --> Chart has an 89 period EMA and an 8 period EMA, RSI indicator of 60 overbought and 40 oversold.
Buying or Selling when price enters a daily of demand/supply outlined by the green zone/red zone. First target will be opposing daily supply zone/demand zone and or once price closes below/above the 8 EMA will be the sign to take profit or close the trade.
$ARWR --> (Daily) Would like to see this one retrace a bit more into this daily demand area before I get onboard.
$DHRM --> (Daily) Would like to see this one retrace a bit more into this daily demand area before I get onboard.
$ALR --> (Daily - Options) Would like to see this one retrace a bit more into this daily demand area before I get on board.
$ARUN --> (Daily) Would like to see this one retrace a bit more into this daily demand area before I get onboard.
$ISR --> (30) Everyone is talking about this one these days. Nailed the short call on this one today. I believe we see more downside tomorrow. 30 minute supply zone mapped out here on chart where I will take my short entry with two targets below.
April 7 Update -> up in premarket based on article http://finance.yahoo.com/news/isoray-announces-worlds-first-human-130000650.html so no trade for me.
April 9th update -> haven't been able to take my eyes off this one, still think it cracks and drops to my targets. It rallied up to my higher 30 min supply zone and dropped from there.
April 10th Update -> Exactly as planned except the rally to my higher supply zone. Target 1 in sight.
$HIMX --> (Daily) if $HIMX retraces downwards from here, I'll be interested to take this one long from the zone mapped out below.
$IRWD --> (30) Hit the demand zone already but may retrace again before it takes off to the targets outlined.
April 4th Update -> Trade activated, in at 11.27 small starter position, very low risk entry. This will be a 30 min chart strategy play.
April 4th position -> Position looks great so far, noticed it also just bounced from a weekly demand zone meaning that this thing is def going up!
April 4th Exit/New Setup -> got stopped out of my position after it rallied up, only to drop a little further down within the weekly demand zone. I found another 30 min demand zone this will most likely rise up from. I've outlined a few targets I'll be aiming at.
April 7th Update -> missed entry into this sucker, but take a look at the perfect call so far, retraced to demand zone and then took off.
April 8th update -> this one has dropped now to the last demand zone within the weekly demand zone, so if it falls from here it will be in freefall. RSI is building strength so we may see a bounce here.
$GWPH --> (Daily) Would like to see this one retrace a bit more to the demand zone below. Two targets are outlined but RSI may be below 40 when it hits, so will judge when that happens.
$ACXM --> (Daily) this one is dropping hard and there's no strong demand until it hits a weekly demand area noted on the chart below. I'll accumulate shares within the green demand area and have targets outlined.
$ADSK --> (Daily - Options) I like playing this one and have many times before. Noticed it has been retracing slowly with the market and if timed right, both will be entering into demand areas together. $ADSK is heading into weekly demand meaning there's is a high probability that this thing goes up from there. That being said, I'll be looking to play some call options from the green zone shown on the chart.
$RCAP --> (Daily) scanner picked this one up for momentum. Been very strong in the bearish market, should we have more downside in the market, I'll be looking for this one to drop into the daily demand zone where I'll take it long and trade it based on my daily chart strategy.
$HART --> (30) This one just bounced of a great 30 min demand zone and looks to be headed upwards, I'll keep an eye out for a retrace to buy in and notify on twitter. Target is outlined below. But this will be a 30 min chart strategy play.
April 9th update -> so $HART retraced, missed the first dip but 2nd dip provided a great entry. Now up over 13%.
April 9th profit -> Over 10% profit! So according to rules, the 8 ema crossed over the 89 ema and price closed below the 8 ema signaling me to sell for partial profit. Now riding the rest to the target above. Stop loss is now moved to below the 89 ema.
April 10th update PM -> pre-market take a look at this beauty. Was upgraded by Summer Street and on it's way to my target.
$SBUX --> (30 - Options) waiting for $SBUX to retrace down a little further to the 30 minute demand zone at the $69 range. Right now it's bouncing off a zone that has been previously touched so I don't think it will hold this level. Unless the market shows strength and $SBUX continues with a rally. Will watch this one close to see if it retraces and if it does, I'll be looking to take on some Call options until my target.
$TWTR --> (Daily - Options) Twitter is retracing straight back to it's beginnings. In fact its heading right into a weekly/daily demand zone. This is the area where institutions bought twitter heavily. All we need is a little help with the markets going up and twitter is set to have another run up. I'll be playing some Call Options to the targets outlined in the chart.
April 9 Update -> as expected, twitter dropped into the daily demand zone by .05cents and has been up since.
April 9 Option $42 Call -> Bought option this am as I missed entry yesterday before close.
$AEIS --> (Daily) Been watching this one for a while now and have missed the great plays I could have made. Well I think it's time to jump in here. Got into position this am and am posting setup here.
April 10th update -> Position closed for a small loss due to weakness in the market. Wasn't going to let this one drop even more to my stop loss. Glad I did that as it continued to drop.
$BBCN --> (Daily) been watching this one for a while and waiting for things to setup. It's retracing to a great daily demand zone within a weekly demand zone making this one rock solid. Would like for it to retrace a little more before I get in. Daily chart play for me.
April 10th Update -> Setup Cancelled for now - Price in zone, but market is way to weak for me to take on this position. Keep an eye on this setup, it could still work if we get a rally from the markets.
$KING --> (30) I think we all know $KING, they make all the addictive games. Will the company last, probably not, but what I do know is there is a nice looking area of demand on this 30 min chart. Will play this as a quick trade most likely but I have targets I'd like to get to.
April 10 update -> Trade Activated, in at 17.75. Right after it rallied up... Like Magic! ;)
April 10 WINNER -> take partial and then full position off for a quick profit. If market was stronger I would have stayed in.
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