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Shared by
spyrosz

 

AMD

Mar 5, 2021 11:26


Tags:

(Ac) Interactive Brokers (P) Reversal (S) Technical Reversal (extra) Cannot Miss That Trade (extra) Market Bubble 2021

Getting closer to S1=$74 which is a HUGE support level based on weekly/daily chart and bottom of a 4-month old consolidation/channel formed after the $59 break-out.
And it was approaching fast & furious (4th consecutive down day, after it lost and rejected $87).

One eye on:
-- QQQs were getting close to S3=strong support based on volume profile=$297.5
-- SPY was getting close to yesterday lows and major support S2=$371.
-- TSLA (to gauge sentiment) at S3=$540.

The other one on tape. Quick flush/stop-run below S1=$74 and instant remount would be ideal. But didn't play that way.
Saw:
-- QQQs testing S3=$297.5 to the penny and bouncing higher. Same with TSLA.
-- Saw sellers trying to flush it below $74.5 but...tape froze at $74.3!! Lots of green at T+S,

Got long Tier 0, risking below S1 $73.4s, added one momo tier after higher low, risking LOD=$74.3 for the add, expecting a huge bounce all the way to yesterday's close=$78.5, and a close above that level to put a "RDR buy" candle.

Very small profit taking on the way to target (about 10% of size). Sold another 30% above yesterday's close. Held remaining 60% of size as a swing since it closed at top of range with room up to $81-82 easily. Huge Hammer on daily, reclaiming the 200SMA@daily.

(+) Tape reading, execution, and proper size on the back-side. Add on the right side for a good trade. Realizing the skewed r/r to the long hence being conservative with exits for an amazing trade.

03/08/2021

Holy Moly. I wasn't prepared for such a sell-off. It gave back the whole Friday rally.
Thought it would hold S1=$76 and bounce higher, putting a higher low at daily.

Played the bounce, but the moment it rejected the 9SMA@15min chart and rolled-over, I started thinking how I would handle the swing size from Friday. Decided to put a hard stop at LOD=$75.6 for whole position.

Stopped out. It closed at dead-lows right in-front of S2=$74...

--> AAPL was the sign today as it couldn't find a bid all-day long...Should have paid more attention.

This market is NOT for swings right now....Better stay pure day-trading...Gave back significant unrealized PnL here..


Execution detail:

Date/time Symbol Side Price Position
2021-03-05 11:26:47 AMD buy $74.560 long
2021-03-05 11:29:06 AMD buy $74.390 long
2021-03-05 11:36:07 AMD buy $75.010 long
2021-03-05 11:41:51 AMD sell $75.530 long
2021-03-05 11:59:53 AMD sell $75.930 long
2021-03-05 12:15:24 AMD sell $76.280 long
2021-03-05 12:24:42 AMD sell $76.920 long
2021-03-05 12:42:02 AMD sell $77.320 long
2021-03-05 12:49:47 AMD sell $77.390 long
2021-03-05 13:15:43 AMD sell $77.980 long
2021-03-05 13:27:12 AMD sell $78.440 long
2021-03-05 14:59:27 AMD sell $78.780 long
2021-03-08 11:56:04 AMD buy $76.420 long
2021-03-08 12:06:04 AMD buy $76.100 long
2021-03-08 12:09:06 AMD buy $76.080 long
2021-03-08 12:12:36 AMD sell $75.740 long
2021-03-08 12:16:45 AMD buy $75.950 long
2021-03-08 12:22:49 AMD sell $76.210 long
2021-03-08 12:24:05 AMD sell $76.340 long
2021-03-08 12:24:37 AMD sell $76.450 long
2021-03-08 12:27:33 AMD sell $76.560 long
2021-03-08 12:27:33 AMD sell $76.560 long
2021-03-08 12:31:10 AMD sell $76.640 long
2021-03-08 12:32:46 AMD sell $76.450 long
2021-03-08 13:16:52 AMD buy $76.330 long
2021-03-08 13:40:59 AMD sell $75.680 0


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