Trading Basics/Options

No longer into options thinking if I should set this page for my futures trading 🤔

https://youtu.be/e8ossIQzk4U
Recognizing Breakouts and Chart Patterns!!!!

Breakouts & Chart Patterns How to recognize chart patterns and anticipate breakouts!!!!

Trading the high of day breakouts!!!
Ex*****on and Patience is so key when scalping options. Notice how many candles/minutes it can take to catch that breakout and if you go for every push you’re going get in a lot of fakeouts.
Granted nothing is guaranteed it’s all about probability. I was guilty in the beginning while still successful of getting in and out with paper cuts before catching the break. But I’m still learning to just wait and watch It’s ok to miss a trade (I keep telling myself)

Notice the volume on those candles where I entered and the level it breaks That’s my signal to take the trade and I’m more than satisfied with selling on that first candle.
I did hold that first one longer but I also got in earlier than I normally would I was ok with the risk which is just as important
Accept the risk!!!

Best Day!!!!

**Honestly looking to post less and be on social less But today was a great day in a choppy market**

Just 1 or 2 trades can make your day great.
As much as patterns play a big role in my trading sometimes just watching price action can be enough and I jumped in on those puts near the open after seeing weakness and how fast the price started to decline off that small bounce. Always try to get in before the break as premium jumps so quick you’d be crazy not to be satisfied with that move as a scalper.

I actually ended up giving most of it back trying to anticipate another leg down.

But again all it takes is one trade and I saw my favorite set up after a dip as $TSLA looked to be setting up for a reversal. This was another anticipated move but also liked the Descending Triangle break as well as the increase in volume. Was fortunate to get out at the top and as always a reminder as to why I scalp!!!

Day off Still watching!!!

Another prime example of playing the breakout off consolidation and low to average volume to the breakout on higher above volume near key levels .

As $TSLA rest you can see some resistance around that $700 level but you don’t see strong selling signaling supply coming in. As price bounces you will then wait until vol kicks in and it usually happens quick.

Once you see that push and especially of $SPY is going with it you can get in around the break as premium hasn’t spiked which it will once that breakout happens.

Entry would be right before that $700 level breaks anticipating the high of day test and push to new highs on the day.

Choppy Action!!!

Okay price action but better trading, better at taking the loss of the move isn’t happening. $TSLA took most my trading -$70 on multiple attempts then walked away with no regret as I kept my strategy and excited when it went against me.

Stepped away and noticed $AMZN running Didn’t know why didn’t care but had my levels set for the flag on the hourly above $3375 - $3400

After the trend I looked for some rest or consolidation and got in and out multiple times anticipating the breakout towards $3400.

$AMZN can run either way so wasn’t interested in holding just looking for that breakout and keeping my previous losses small my one win was able to put me in green for the day!!!!

Yesterday’s Trades Cutting Losses!!!

A good day trading day consists of minimizing your losses. A lot of choppy action and if you hold too long you’ll get chopped up too, especially on 0TDE

There were multiple trades where the breakout was false and those pullbacks killed premium Had I held too long my Green Day wud of started very red and red can affect your confidence.

You can always get back in as I did and it only takes one good trade to eliminate the small losses.

Traded $TSLA off the open A lot of the time in premarket to open or in this case yesterday’s close to today’s open, you can see a pattern form and I like to look for a Descending Triangle a stock moves down and breaks to the upside, the stronger the stock the higher the probability of the breakout.

Here you can see there’s a higher probability as it starts off weak at the open so shorts are most likely in looking for LOD break. I like the hold and consolidation around the LOD. You can then see volume pick up just a bit and play the break as shorts are likely getting out and longs are entering and I took that quick pop as it creates a new HOD.

I also took the $723 break for a small win as I was watching level 2 and played the resistance. With the choppy action I wasn’t confident holding so I got in and out. I then gave some back anticipating the next Triangle forming.

More chop but cut losses quick and didn’t give up and took the last break that finally went through and I was able to get back the small loss and more on the one trade.

TREND, REST, & BREAKOUT!!!

I have a guide as well if anyone likes more info on actual trading and chart patterns!!!

Really focusing on $TSLA this week end next, that $860 level is the key to the breakout.
But moving averages are tight, TTM Squeeze showing momentum building and stochastic crossing up signaling buying coming in
Expecting at least 30% move if this gets going.

WATCHLIST $SPY $TSLA $NFLX $ZM
ALSO $FB $PLTR
$SPY Been watching that $370 area as support and another 3% move from highs would put it about there. If we break Friday's low I think we test that support level but looking to see if it gets bought back up if so I think we get new highs for another 4% move
$TSLA If $SPY dips Tesla has about another 20 points to the downside to catch, looking for this Descending Triangle break over $860's before it heads toward $900-$1000 Not interested until break and hold over $860's
$NFLX Earnings this week could do its own thing either way nice Symmetrical Triangle to trade Over $505 is a good entry for calls under $495 puts
$ZM still in a long term downtrend but still has some room to the upside and that 33% move puts it exactly at that resistance level. There's strong Demand at $378's, bullish as long as it holds that support level then we can test $420's to get the rest of that 33% move.
**No guarantees in any trading strategy, It's probability and preparation. Have a plan keep losses small and leave emotions out**

Catching these patterns and opening entries
Same chart set ups on different stocks can be traded daily!!!

Scalp Trading the open!!!
Trading Basics Showing some common set ups at the open to the upside!!!