DBC , LONG , wedge pop/bullish gap attack on open today
Per my trading rules ,we now have the earliest possible price action to get in to some swing trades with the QQQ and SPY actions we see currently happening. As a result, I took a starter in DBC as planned .
QQQ/ SPY notes:
The SPY etf has put in a higher low and is above the 21 EMA , but still below the 200 sma and we have a valid death cross on daily , so certainly not out of the woods yet but with it being over the 21 ema for now it allows me to increase exposure as per my rules
QQQ is in a similar setup but we are a bit weaker vs SPY , and only have a double bottom so far but also currently living above its 21 ema for now.
DBC notes :
Wedge drop on march 15th confirmed and now we have a wedge pop/gap up on open setup this morning .
Entered with a stop under the 21 ema shortly after open today .
I am planning on selling 33% when we hit 2 R, stop will stay same , and carrying over the balance until we have a close under the 21 ema , hopefully .
If I get stopped out , re entry is an option only if we have SPY / QQQ basic entry condition's being met . It's very early and we could still certainly breakdown more on indices.
Entry @ 25.42
Stop 24.83
2R trade management target 26.70 ( sell 33% )
QQQ/ SPY notes:
The SPY etf has put in a higher low and is above the 21 EMA , but still below the 200 sma and we have a valid death cross on daily , so certainly not out of the woods yet but with it being over the 21 ema for now it allows me to increase exposure as per my rules
QQQ is in a similar setup but we are a bit weaker vs SPY , and only have a double bottom so far but also currently living above its 21 ema for now.
DBC notes :
Wedge drop on march 15th confirmed and now we have a wedge pop/gap up on open setup this morning .
Entered with a stop under the 21 ema shortly after open today .
I am planning on selling 33% when we hit 2 R, stop will stay same , and carrying over the balance until we have a close under the 21 ema , hopefully .
If I get stopped out , re entry is an option only if we have SPY / QQQ basic entry condition's being met . It's very early and we could still certainly breakdown more on indices.
Entry @ 25.42
Stop 24.83
2R trade management target 26.70 ( sell 33% )
Nota
I decided to modify my plan and take advantage of todays gap up so that I could de risk DBC today . We were hovering at the 26.64 level just right under my initial target but not quite touching it . I decided at the close to take the risk off since we were literally pennies below the original 26.70 . ended up getting filled at 26.63 on 33% of the shares . So, De-risked , original stop active on balance.Dagangan ditutup secara manual
Sold the balance with todays close under the 21. This one however, I can re enter even if the market indices are in RTM because we have determined based on the correlation studies that at this time commodities are only loosely correlated with SPY and QQQ . I would have kept this if we closed above 21 and we were pennies away but we did not closed above , so I will be ready re enter if DBC continues to recover, that is important .
艾力克~
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
艾力克~
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.