This year I will be disciplined in the process. The process will be explained and the blog will serve as my trading journal. I was out the first week of this year, so we'll start anew. I'll do a trade spreadsheet off a $55,000 K account,
First market conditions acceptable for trading?
Yes. Indexes basing,
but breadth measures a bit extended so some caution is in order.
Eyes on NYMO, RSI , VIX low.
IPOS, with eyes on energy, metals, uranium, Cannabis.
Setup-- IPO range expansion.
Series of higher lows shows there is a bit of a descending wedge forming. This one showed some power off of bottoms
Risk, 1.5% stop at days low.
Setup: IPO Reclaim the fame
Breakout to new weekly high. Sigma significant at 2.24 back to the power zone.
Setup, Slingshot from flag.
Slingshot: yes, from lateral action.
Description. Spin-off / reboot. This has shown some power, through November. Now making a push to ATHs after a month of rest.
Risk, Back to the box