Trade Plan for 10/14-10/18
And here we gooooo...
Last week I noted on Sunday that we would likely see a down day for indices on Monday:
Monday was indeed a down day last week (the most bearish of the days) ✅ and then my general strategy was to sell $NQ pops and buy $RTY support, but I kept my bias light so I could rely on my levels, which performed spectacularly.
If you watched the video I posted to $X last Sunday, you saw that I had a bearish bias for $TSLA (-12.93% last week) ✅ and I thought the $NVDA chart looked constructive as it was showing relative strength to $NQ. ✅
Last week I was looking for a dip in precious metals to buy. I nailed the bottoms in both $GC/gold which I had inside of a large 4hr bullflag and $SI/silver which I bought, took partial profit and then rebought that scale before it went higher. 🎯🎯💰
I postulated that if $CL/Crude Oil futures touched 72.52, it would likely go lower to my 71.42 and then reverse, but it stopped at 71.53 before reversing (pretty close tho!)😏. ✅
Summary of Market Action Last Week:
After a red Monday, $ES/SPX futures and $NQ/Nasdaq futures chopped upwards for the rest of the week. $RTY/small caps futures also printed a red Monday, but then based for 3 days before breaking out on Friday.
$GDX/gold miners showed slight relative strength. $GC/gold futures declined in the first part of the week and then recovered to settle with a slight gain. $SI/Silver futures also bounced, but could not recover to flat.
$CL/Crude Oil futures moved up once again, but $XOP/oil equities closed essentially flat on the week.
Here’s how last week closed out:
For the week ahead (10/14 - 10/18/24)