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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326
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Well, coming into this week - we have several things to watch.

 

1st and foremost - Spy is at a very key level - it broke the lower bull trend line on friday, and was down 3%, and was trading right at the 50 day moving average - 

 

2 main scenarios - We see the 50 day MA hold - and we bounce to new all times, and bring the market up with it.  

 

OR

 

The bull run was fun, and the 50MA support is broken, and Spy goes thru a market correction.  This will likely bring down the rest of the market as well.  So we really have to see what monday and tuesday bring.  


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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326
Topic starter  

FB - @ 50 Day Moving average - Will likely follow the SPY

SNAP - Prime for breakout - espcially if SPY holds

BA - also moving right at the bottom @ support - if SPY holds....

AAPL - On a downtrend, and willy likely be the first ticker to idicate spys direction

X- Puts espcially if SPY weak

APPS - Prime for breakout

TSLA - Strong Resistance level, if spy weaks, this will likely drop

SDC - Great spot for longs - Possible bull run starting

CRM - Ready for breakout

DKNG - Watch for breakout

CHPT - Great Share position


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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326

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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326
Topic starter  

Great Trading day today, and as I predicted - Spy dropped fairly nicely and presented a lot of entries into some profitable puts.  

1632155354-trading-day-9-page-1.jpg

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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326
Topic starter  

page 2 of the trading log

1632155619-trading-day-9-page-2.jpg

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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326
Topic starter  

and final page of todays trades 

 
1632156468-trading-day-9-page-3.jpg

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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326
Topic starter  
done trading for the day at 620 am, As I expected / predicted - spy took a nice tumble down and presented several spots to flip some contracts.  All these trades were very fast scalps, based on the price action.  I took several different contracts based on how sure I was - the more expensive / longer expiration one being the safest as It had time.  All these were also attemping to be pretty close to the money, as that way if spy did bounce it could be better managed.  
All in all, another great trading day! 
 
 
6 trades, 6 wins
 
starting challenge balance : 782
ending challenge balance: 903
$121 profit on the day
15.46% gains on the day

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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326
Topic starter  

Well, Ive updated the rules....I added a new one that I have found is causing me some emotional testing - the first opening bell.  First bell is always the most volatile. and so to be safer, I have decided to make one of my rules - No trades until the first candle closes.

1632201211-The-Dragon-Lifestyle-Challenge-3.jpg

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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326
Topic starter  

Watchlist for tomorrow-

 

It appears we may have found the bottom of spy, although Im still not convinced, especially with the fed meeting this wednesday.  so I will be trading very lightly for the rest of the week.  

 

Key levels to watch for spy tomorrow - 436.56, and 433.  If we can hold over 436, this could be just a short term correction and we pop back up to continue the bull run.  Or, if 433 breaks we could be headed for a longer correction.  

 

Again, this will control the market, and all plays. 

1632201373-20210920_190436.jpg

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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326
Topic starter  

over night - spy is up, vxx is down...small caps are up...so we could be opening green tomorrow...we shall see.   

1632201434-Screenshot-93.png

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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326
Topic starter  

The other major play Ill be watching (thanks shark and tostie from only options for this play)

 

APPS.  We have 2 setups currently playing out, both showing this stock is prime for a breakout.  If Spy is green, this could be a great breakout play.  IF spy tanks, this could breakdown and break to the downside.  

 

If we can break over 63.50 and hold, Ill be entering longs with the price target of 65 / 67.  We shall see!  

 

Hopefully the market gods work with us.  Until tomorrow!

 

Stay free stay high

 

 

1632201662-Screenshot-92.png

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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326
Topic starter  

All green day again today, 3 plays 3 wins.  Starting balance - 903 ending balance 952. 5.56% gains on the day.  Choppy day, but still make some good gains.  will be interesting to see what the week brings.  

1632290129-trading-day-10-page-1.jpg

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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326
Topic starter  

will be updating the chart, typed the entry off by a few bucks.  the ending balance is correct, just fucked up the transcribing over

1632290192-trading-day-10-page-2.jpg

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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326
Topic starter  

One of the setups i am eyeing tomorrow - If spy doesnt tank - 

 

Hood - Cup and Handle forming, and looking prime for a breakout.  Ill be eying 2 contracts -

 

10/1 41 call - riskier

10/15 45 call - Longer swing / safer 

1632290810-Screenshot-96.png

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Dragon
(@dragon)
The Dragon Admin
Joined: 10 months ago
Posts: 326
Topic starter  

another play im watching if spy holds tomorrow...

 

Fubo - falling wedge currently.  

 

Eying the 10/15 27 call or the 26 call.  

Entry on 25.60 holding, with a price target 1 - 26.50 #2 26.90  #3 28

1632291766-fubo.png

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