SPY staying at bullish levels on the opening of the week. Lower volume week due to the holiday, markets half day tomorrow, and closed Thursday. G20 conference reactions was bullish and FED rate cut this month being priced in but not confirmed.
Small shorter+midterm swing position in CWBHF/CWEB due to elevated RVOL, major resistance levels being tested, and confirmed daily trend change (+ weekly trend confirmation). Exit strategy defined in a critical loss of this momentum ie. loss of daily trend change and or unable to break nearby resistances. If these resistances are broken there is a nice upside potential for price to move. Entering here is higher risk due to RSI momentum's being OS on mid-term timeframes. 195m and daily looks good which is the time frame I'm trading on. Also tapered position here for exit room.
SPY D,
CWBHF D, overview chart w/ some fibs analysis work in progress. Starting with price action and volume here as that is what got my attention in the trade. Will be using additional VWAP analysis later along with refined fib analysis to refine my trade and risk management.
CWBHF W, noting if we get a strong weekly trend confirmation (looking for volume)
CWBHF 195m, noting if price gets through nearby next level of resistances and major price action areas.
CWBHF 1m, exited here to take small profit and will re-enter when shorter-term trend turns back up, makes new HOD, and is above daily intraday VWAP.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-07-02 15:48:31 | CWBHF | buy | $15.836 | long |
2019-07-03 09:42:29 | CWBHF | sell | $16.150 | 0 |
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!