The plan is to use this blog as a way for me to keep track of my trades and to help me follow my trade rules.
SHADED GREEN ZONES = Strong Buy Zones
SHADED RED ZONES = Strong Sell Zones
Questions or comments email me -> magictrader@outlook.com
Markets Overview:
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| April 2nd |
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.
CADUSD --> I am currently in a 240 min swing trade of the Canadian dollar, Targets are outlined below. News coming out on Thursday should propel this upwards towards the targets.
March 31rst Update -> Trade activated
April 1rst Update -> Note that when price entered zone, RSI was way below 40 so I knew price would leave and then retrace back with a higher RSI. In cases like this I will take half my position off on the spike and then buy back in on the retrace. Extra $$$ and a way to protect from a loss.
April 2nd Update -> Trade taking it's time, will add to position on dips.
April 3rd Update -> Added a little more to position here on the dip before announcement.
-> Trade is looking great so far, breaking out of it's 30 min range now.
April 3rd RSI Update -> Take a look at how the RSI being above 40 gave the indication that a big move up was about to happen.
April 4th RSI Update -> Last drop down caused RSI to go under 40 to 39.02. I'll be keeping an eye out for possible weakness now. Being that the Trade Balance numbers were good, we may see this drop from here. Will lighten up on position until signs of strength comes back.
April 4th Stopped Out.-> Employment news was positive, good thing I lighten up on position before the drop because of selling and adding beforehand. Profitable trade overall.
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.
AUDUSD --> Looking for the Aussie dollar to rally a little higher to the 240 supply up above.
JPYUSD --> Want to Japanese Yen to rally a little higher up to short at the 240 supply.
April 3rd Update -> Yen rallying into zone very soon.
-> Activating trade earlier, seems weakness has set in. Short @ 103.905
April 4th Update -> Stop was to tight and was stopped out before the drop. Lesson learned.
GBPUSD --> Looking for a retrace into the 240 demand below to take entry.
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.
$CL --> (30 Min) Will let Oil rally up to the Supply up above and then determine what the targets will be. Arival to the zone will be important to whether I take the trade or not.
April3rd Update -> Oil is rallying up into the zone, almost hit the zone. Will wait for it to enter and show weakness before i activate the trade.
April 4th Update -> No trade based on the slow grind up toward the zone. Would rather see a strong move into the zone.
$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.
$NG --> (240 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.
April 3rd Update -> Nat Gas came pretty close to the entry zone and dropped. Still waiting for more of a rally.
$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.
$SI --> (30 Min) While waiting for Silver to rally up, I'll take it long using this setup.
April 3rd Update -> trade not activated, silver dropping to hard.
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 onboard.
$ARUN --> (Daily) Would like to see this one retrace a bit more into this daily demand area before I get onboard.
$FEYE --> (Daily) Playing the options on this one. Into weekly and daily demand so I am buying some $55 call options for a couple weeks.
April 3rd Update -> trade activated. In April 19 $55 calls at $4.20
April 3rd Update-> Might have underestimated the bad news on $FEYE article says "The drop comes after the virtual security provider received a rating of "caution" from a study conducted by information security research and advisory firm NSS Labs." So looks like there might not be a bounce afterall. Will wait to see the open tomorrow and make a judgment call, my rules say I must sell options and take a small loss.
$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.
$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.
$QCOR --> (30) Taking this nice short setup form 30 min supply downwards. 30 min chart strategy in play.
April 4th Update-> missed entry by .04 cents, don't like the stalling action so I've taken the trade off. Stalling ussualy will result in the zone being penetrated.
April 5th -> Take a look at this drop that I called. Missed entry by 4 cents but if anyone got my tweet and followed along, they made a nice 9% drop on it.
$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.
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