Trade Review - EBAY - April, 18


Stock Selection Information

Ebay had it´s earnings released yesterday after the market closed



Watch List Reason - Earnings yesterdays after the close (yafter)
Pre-Market Volume - 5%
Trading Plan - Support @ 54.25 || Resistance @ 55.00 - play it on the short side

Management

Entry Setup used: Open Range Break Down | Resistance | Consolidation at Resistance


Trading Comments

First trade based on momentum. There was a lot of weakness in the tape. As soon as the bids started to get hit by the sellers, I hit my trade. Waited for a strong momentum to move prices down.
Second trade was a frustration when the platform did not take my offer. Still, I followed the price movement.
Third trade was easy money after the buyer that was holding prices dropped the bids. I could´ve been more aggressive with the position.

Evaluation

First trade was perfectly executed. Took profits and when it fail to continue the down move, the position was closed.
Second trade was a frustration when the platform did not take my offer. Still, I followed the price movement. Added experience, which is very good.
The last trades were really good ones. It took a while to develop, but once it did it was great. I should´ve added to this position and the final target was for it to return to VWAP (value). I am getting better at this type of trade, but still need to work on it.
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Daily PM Prep - April, 18


** Preparation for Closing Session **

MARKET CONDITIONS



SPY - Try to break down below the 154.25 level identified in the morning preparation, but did not hold below. It´s a bit far away from it´s down trend line. Need a lot of volume to break down at this level. A consolidation close to 154.25 / 154.75 would help if this scenario was setting up. The other possibility and the one mostly likely after this fail to break down, is the market to go into an up auction an test the down trend and the 156.25 level at the same time, were the sellers will pressure prices down again. A bullish bias only if the down trend is broken.

Bias: Neutral Bearish but Up Auction
Accuracy: 75%. The up action happen on the day after, but it did not break down.

PM Stock Selection Sheet download - I am limiting my list to follow down to 15 stocks, that´s why the list has levels for only 15 stocks.
Updated at 14:05

Want more information about the Stock Selection Sheet?
Legends - Click me
Read this before using the information provided in this page:
1.Educational purpose material only. Use this information at your own risk. 2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The afternoon sheet will be updated between 13:00 and 14:00
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Daily AM Prep - April, 18

** Preparation for Morning Session**

MARKET CONDITIONS

World Markets News: Asian markets finished mixed as of the most recent closing prices. European markets are higher today. Initial Jobless Claims to be released today before the market opens.

Economic Calendar



SPY - Market is gaping up today, following the world markets. Trading is occurring inside a smaller range between 156.50 and 154.50 and around the POC of the larger range at 155.55. There is a strong trend line down that could hold prices, but it still far way. If prices go below 154.25 and start to hold the bias will change to bearish. There is also a weaker trend up, but in order to have a bullish bias the longer trend down must be broken. The most likely scenario is prices trading around the POC til the down trend gets closer.
Bias: Neutral
Accuracy: 80% Prices were below 154.25 but did not hold below.

AM Stock Selection Sheet download
Updated at 7:30

Want more information about the Stock Selection Sheet?
Legends - Click me
Read this before using the information provided in this page:
1.Educational purpose material only. Use this information at your own risk.2.Stocks may be added to the selection sheet at any time. They are used as a guide to select which stocks I will trade and set alerts . It does not mean that I follow all of them, that would be crazy.3.The Accuracy information is for my own use only. It is reviewed after I am done trading. This is just a way for me to measure how is my reading of the market and my confidence in it. I suggest you develop your own way to do this.4.The morning sheet will be updated between 8:00 and 9:00
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