Market still in technical downtrend. Honestly, you could probably open a random short and come back in a couple of weeks to see a profit. NVDA-AMD displaying similar level patterns. One of the market truisms is that in uptrends, support holds, and in downtrends, resistance holds. NVDA and AMD have not been able to break their resistances. Additionally, their supports have been tested/used several times already, implying that the supports are weaker now. Months ago, I was talking about the large open air on AMD in the 74-60 range, and that is still valid. A break can get there for a violent drop, even if it doesn't test 60. Although a short signal has not been generated on the lower downside red levels yet, they have been using up event types and have stayed there for longer than ever before, which is also bearish. Should have just held NVDA short as a swing, market gave multiple opportunities to do so and I knew this stuff was going to go down... my dumb fear. I need to have courage to hold for the next downside breakout once a signal is generated. Lots of good short trades keep coming in this market and the downmoves are the ones that make it big, not the others... keep playing myself on the garbage trades.
Could go down here on the red AMD level, could go up to NVDA's red level at 553 before going back down. I'm waiting on NVDA to short
O come on. AMD announced share buyback and it had a crazy candle up to 76 as of right now. This isn't fair
Lost around 10% in total after closing out all positions on Friday including T long which I shouldn't have taken. @userque mentioned to beware of black swan events, and that was AMD's announcement of stock buybacks where it shot up. I messed it up and held longer than I should have, and it became a bigger loss. I then shorted AAPL's high of the day for some gain and held it too long (due to greed) even though I specifically knew it had a decent chance of going up the next day simply because the gap-down event type had already been used and not the High-of-Day event. And that winner turned into a loss. From there, I shorted a few other stocks on their highs later and they all worked out and I closed them for profits. I closed the AAPL and AMD shorts on Friday's red day. Need to reassess. Want to start fresh on Monday. Not sure where the market goes now. Some ambiguous things here and there. One thing Jesse Livermore says is that when a stock doesn't act as it should, you get out.We'll see how things go. This is what I was looking at when I made the trade. Epic failure.
I was using my old email and saw a recent notification and so I decided to check this out too. Otherwise I never. I got a real job so I don't have to wake up so early anymore or study the markets. I do normal things like read and I like to write. I haven't traded in a long time, I don't really care about that stuff anymore