Thursday July 24th Review:
A lot of data coming out for Wednesday that should move the $EURUSD & the markets. So with the EURO news comes an opportunity for a $EURUSD trade (see $EURUSD for chart setups).
8:15am -> mostly good news for the EURO this am so we saw a nice rally from my 30 min demand zone. Traded a bad trade on the $NZDUSD (see chart for details)
Friday July 25th:
Some more news coming out to influence the Euro, British Pound & the Kiwi Thursday night.
A lot of data coming out for Wednesday that should move the $EURUSD & the markets. So with the EURO news comes an opportunity for a $EURUSD trade (see $EURUSD for chart setups).
8:15am -> mostly good news for the EURO this am so we saw a nice rally from my 30 min demand zone. Traded a bad trade on the $NZDUSD (see chart for details)
Friday July 25th:
Some more news coming out to influence the Euro, British Pound & the Kiwi Thursday night.
Futures --> 2 contracts (at most)
Options --> $1500 estimated (per position)
Currencies --> $100,000 (depending on size of the zone)
Options --> $1500 estimated (per position)
Currencies --> $100,000 (depending on size of the zone)
You can follow, learn & PROFIT from The Magic Portfolio by following the members only @MagicAlerts on Twitter. I'll be sharing my thoughts on the markets, providing video lessons on trading Supply & Demand and also be sharing with followers some very exclusive stuff. You'll have to follow to find out what. I am mapping out Institutional Demand & Supply. Do your own DD and use the info whatever way you see fit. Welcome to The Magic Trading Portfolio!
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| NASDAQ hits supply, are the bears back? |
WELCOME NEW SUBSCRIBERS! Learn from this blog and you will learn to think and trade like the big institutions, but thats just my opinion. See for yourself!
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Magic Ingredient:
If there is any one thing that has added more to my success than anything else, it is understanding how important it is to time the market with your trades. The key to my strategy is to time the markets GREEN and RED zones with the GREEN and RED zones from the setups. If they are both entering their same colored zones at around the same time then the probability of the setup working out is highest. Otherwise, market needs to be trending upwards to take entry of setups in the GREEN zones or market needs to be trending downwards to take entry of setups in the RED zones.
SHADED GREEN ZONES = Strong Buy Zones
SHADED RED ZONES = Strong Sell Zones
Markets Overview (The Big Picture):
Take note of the GREEN demand zones and RED supply zones mapped out below. These are the areas of interest for me because this is where there is a great deal of demand to fill buy orders and supply to fill sell orders from the institutions. NASDAQ -> hit some 30 min supply and could head down.
S&P -> hit some 30 min supply/demand and headed up.
DOW JONES -> hit 30 min demand/supply and headed up.
RUSSEL -> hit daily demand and headed backup.
Currencies:
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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.
$USDCAD --> The Canadian Dollar just hit weekly demand and should be heading upwards. The ideal trade is to wait for retraces into demand and then take long.
THE SETUP: Will wait for a retrace into demand and then go long to catch the trend upwards.
$AUDUSD --> The Australian Dollar hit some daily demand and is heading up.
THE SETUP: Watching for a rally into the 240/weekly supply zone to short the pair down.
$CHFUSD --> The Swiss Franc is just hit daily demand and should be heading up.
THE SETUP: Will wait for a retrace into 240 demand and then go long to catch the trend upwards.
$EURUSD --> The Euro just hit daily supply and seems to be heading down.
THE SETUP: Will wait for a rally up to the daily supply zone and then short it.
$GBPUSD --> The Pound has just hit weekly supply and should be heading down now.
THE SETUP: Right now the British pound is within a 240 supply zone, but price action makes me think twice about shorting this one here. I like the 240 supply one above it though.
$NZDUSD --> The New Zealand Dollar just hit weekly supply and looks to be starting to trend down.
THE SETUP: Wait for retrace into 240 supply to short it down.
July 23 -> Trade activated, Long in 240 min demand at 0.86310, T1 - 0.86550, T2 - 0.87530
-> Official Cash Rate out at 5pm - Big drop in price, right into 240 demand zone.
-> Official Cash Rate out at 5pm - Big drop in price, right into 240 demand zone.
| Why Traders Care | Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future; |
July 24th -> Stop Hit. (middle of the curve and counter trend)
Lesson: 1) Price was in the middle of the curve. 2) Price was in a downtrend (counter trend) 3) Didn't wait for RSI to build strength before getting into position.
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.
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.
$GC_F Gold --> 30 min demand zone worked perfectly. Supply & Demand outlined on the chart.
$CL_F Oil --> Supply & Demand outlined on the chart.
$HG_F Copper --> Supply & Demand outlined on the chart.
$NG_F Natural Gas --> Supply & Demand outlined on the chart.
Stocks & Options:
The Trinity Trading Strategy:
The Trinity Trading Strategy is the strategy all the others are based on.
Chart Setup --> 30 Minute chart has an 89 period EMA, a 45 period EMA and an 8 period EMA, RSI indicator of 60 overbought and 40 oversold.
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| The Trinity Trading Strategy |
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 the 8 EMA crosses the 89 EMA and after the 45 EMA 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. Finally, the position will be closed when the 8 EMA crosses the 45 EMA.
The 89 Bounce Strategy:
Chart Setup --> 30 Minute chart has an 89 period EMA, a 45 period EMA and an 8 period EMA, RSI indicator of 60 overbought and 40 oversold.
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| The 89 Bounce Strategy |
Buying or Selling when price hits the 89 EMA and/or enters a 30 minute demand/supply outlined by the green zone/red zone. Then you must wait until the distance between the 8 EMA and 45 EMA is the same or larger than the 45 EMA and 89 EMA. Wait for close below the 8 EMA to take partial profits. The close trade when the 8 EMA crossed over the 45 EMA.
The Slingshot Strategy:
Chart Setup --> 30 Minute 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 hits a 30 minute supply/demand outlined by the red zone/green zone. Then you must wait until the distance between the 8 EMA and 45 EMA is the same or larger than the 45 EMA and 89 EMA. Wait for close below the 8 EMA to take partial profits. The close trade when the 8 EMA crossed over the 45 EMA.
In all strategies, exit for a loss if price breaks through the zone position is opened on.
How do I activate a trade?
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| Slingshot Strategy Entry |
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| 5 Min RSI confirmation |
$WFM (Trinity Play) July 24 --> Earnings July 30 after close. Price hit daily/weekly demand, daily RSI is weak so watching RSI on 30 min chart on dips for possible entry long.
$JNJ July 21 --> came out with good earnings but continued to drop until it hit both daily and weekly demand making this a good candidate to go long. Daily RSI is weak so watching for 30 min RSI to build strength on dips. Have two 30 min demand zones I'm watch for bounces and if RSI is around 40 on the next dip, then possible entries.
July 23 -> WINNER, trade working nicely off of the daily demand zone.
$SHPG July 21 --> Great earnings came out Friday morning, so would like to see a retrace into 5 min demand or 30 min demand to take some options long.
$SWKS July 21 --> Great earnings came out Thursday evening, so would like to see a retrace into 5 min demand to take some options long.
July 24 -> price is in the 5 min zone, watching for strength.
$YELP (Trinity Play) July 16 --> I like this one because price is about to hit weekly demand, within that weekly demand is a great 30 min demand zone I'd like to take entry on. See chart for details.
$JNJ July 21 --> came out with good earnings but continued to drop until it hit both daily and weekly demand making this a good candidate to go long. Daily RSI is weak so watching for 30 min RSI to build strength on dips. Have two 30 min demand zones I'm watch for bounces and if RSI is around 40 on the next dip, then possible entries.
July 23 -> WINNER, trade working nicely off of the daily demand zone.
$SHPG July 21 --> Great earnings came out Friday morning, so would like to see a retrace into 5 min demand or 30 min demand to take some options long.
$SWKS July 21 --> Great earnings came out Thursday evening, so would like to see a retrace into 5 min demand to take some options long.
July 24 -> price is in the 5 min zone, watching for strength.
$YELP (Trinity Play) July 16 --> I like this one because price is about to hit weekly demand, within that weekly demand is a great 30 min demand zone I'd like to take entry on. See chart for details.
$CZR (Trinity Play) July 16 --> Price just hit weekly demand and daily demand but daily RSI is weak. Will watch for price to play out and look for entry. I think this one will bounce soon.
July 17 -> $CZR was the champ of the day, it's too bad I hesitated and didn't jump in on this one. Massive Winner!
$ISIS (Trinity Play) July 16 --> Waiting for price to enter the daily demand zone and then I will watch price action for entry. Price is already within a weekly demand zone as well.
July 23 -> WINNER , worked perfectly and still heading up!
July 23 -> WINNER , worked perfectly and still heading up!
$QUIK (Trinity Play) July 14 --> Price is retracing nicely toward daily demand but may drop even further as there is more demand below and weekly demand starts at $4.15. Will watch this one closely as I feel a big bounce is coming.
$LNKD (30) July 10 --> Showing all time frames on this setup because it's important to note that price hit weekly and daily demand and the profit zone on this one is huge. Clear skies for this one to fly higher. Daily RSI is above 40 meaning it has the gas to move high. Trinity Play
July 10 -> still looking to take entry into this one. 30 min RSI on dip is now around 40, within daily demand and weekly demand, all we need is a strong $SPY and this one will fly.
July 23 -> WINNER , worked perfectly and still heading up!
July 23 -> WINNER , worked perfectly and still heading up!
$KMX (Trinity Play) July 24 --> Price hit daily demand and RSI was strong so I opened this trade with some Oct $50 call options.
$SYK (Trinity Play) July 24 --> Price hit daily/weekly demand, daily RSI is weak so watching RSI on 30 min chart on dips for possible entry long.
July 25 -> Trade Activated, in some Sept $80 calls
$AAPL July 23 --> Price hit some daily supply so I activated a Put option, Sept $100 put. 1rst target -> 95.50 area.
$SYK (Trinity Play) July 24 --> Price hit daily/weekly demand, daily RSI is weak so watching RSI on 30 min chart on dips for possible entry long.
July 25 -> Trade Activated, in some Sept $80 calls
$AAPL July 23 --> Price hit some daily supply so I activated a Put option, Sept $100 put. 1rst target -> 95.50 area.
$IDTI July 23 (Trinity Play) --> Price is retracing off of weekly supply toward daily demand, will be watching for confirmation of entry and then pull the trigger long.
July 23 -> Trade Activated, in Nov $14 call options.
July 25 -> Earnings on Monday after the Bell, so would like to see a ramp up leading towards then.
July 25 -> Trade Closed, looking too weak.
Friday's Morning Market Briefing with Sam Seiden
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