C Short

Took a quick short in C. Market was weak and after an initial breakout, it started to fade.  C was struggling with the $27 level, which it breached, broke through, and failed to regain with any strength or volume.  Entered @ $27.01 in anticipation of the breakdown, with a $26 target (if it could break the days low).  It started to break down, but bounced.  I covered at $26.79 to lock in some gains and get some sleep (just finished nightshift).  

Follow Through and Good Intraday Setup

Continue to like the break of trend in the morning/afternoon.  Just not quick enough (don't trust myself yet) to pull the trigger. Here are 2 charts that I was looking at that would have worked nicely. I also noticed that the the break of trend must have a descent base of support, which both of these do.

 Instead of playing the break of trend, reverted back to old style of trying to play the break of HOD. Failed -$0.05.

And this one doesn't...

Lesson from Kunal and one of his favorite intraday setup - the long base.  It shows strong support.  Stop just below.

 

Going to start posting cleaner charts.  BB and MAs removed from intraday charts.

Trendline Strategy

Traded TSPT today as a gap up play in the morning.  I was patient and waited for a retracement and break of high on the initial run up. The breakout didn't hold and I sold for a small overall loss.  I kept it on my charts with a descending trendline.  The idea was to buy once it broke the downtrend.  I got distracted by another trade and missed my initial entry.  Also missed the secondary entry.  Posting this to reinforce the strategy.  Initial entry @ $5.85ish, secondary @ $6.01ish.

New Strategy

New Strategy @KTrades showed me today.  Look for double bottoms and break of trend to go long and double tops and break of trend to go short.

Double bottom and break of trend - Use the break of the last peak's high and break of trendline to go long. Stop is a few pennies below the the double bottom.