A successful trading strategy involves identifying key support levels at previous day highs, waiting for price pullbacks to these levels, and entering long positions when buyers step in to reclaim the level, with stop losses placed below the support and profit targets set at previous session highs or all-time highs.
Deep Dive
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Deep Dive
HOW I MADE $7,700 LIVE DAY TRADING (PDH RETEST STRATEGY)Added:
Welcome back to another trade recap.
Today is May the 26th. It is a Tuesday.
Today after a long weekend, markets are continuing to rally towards the upside.
We're at all-time highs on the SPY, the Q's, and of course the semiconductors, which are leading the markets higher.
With that being said, let me go on to my trading statistics to give you guys an update of my P&L this month so far. As you can see, currently up $80,000 for the month. I have not included today's P&L trade win percentage 55% profit factor 3.55 day win percentage 66% average win to loss trade ratio is 2.84.
So so far as you can see to start off this month it's been absolutely fantastic. The past few months have sorry the past few weeks have been a little bit slower. So week number one 7.5 week number two almost a $50,000 week. Uh, week number three, took a quite a few losses when the market started pulling back here. So, $10,000 last week, similar thing. A couple losing trades here and there. Ended off the week pretty strong. And then, of course, with the markets rebounding very nicely, end up having a super solid trade today on AMD, which was that previous day high retest. So, couple of the day trades, which are super solid, a lot of swing/long terms are working out very nicely. And with that being said, let's go on to uh my trades that I ended up taking today. Starting off with the one trade that I took, which was AMD, previous day high retest. End up making $7,700 so far. I still have a few contracts. Looking for continuation potentially later into this session.
Here are some of my trading uh sorry, here are my trade executions here as well. Took the $490 calls on AMD off of our previous day high. So, let's go on to number one, the pre-market game plan, and then we'll hop on to the exact trades that I took and then of course the live session here. So coming into market open, what was the game plan for today? We're opening up and we're gapping higher above our last week's highs. Semis leading the markets. What I like to see is the markets maintain above previous day highs for continuation. SPY above 750 Q's above 722. Main watches will be semis for a move higher. Tesla above previous day highs, AMD, you had a couple other names, right? MU all-time highs push SNDK above previous day highs. Intel above previous day highs as well. So, a lot of names that we're looking for, primarily the semiconductors as I mentioned here with the semis leading the markets higher. So, we're paying attention primarily to the semiconductors today in specific. If we go on to number one, the QQQ right off the bat, you can see the Q's was gapping above. Let's go on to the 15-minute time frame. Well above our previous day high.
So, we're just looking for maintain above previous day high for continuation higher. SPY was the one that actually came back closer to our previous day highs right off the bat for a push towards the upside. If you look at the futures, I think the futures can explain it or you can see a little bit more clear here on the futures. But we had that nice retest here in the pre-market and then that push up in towards our all-time highs was in play. So that's basically what we're looking for today is that move up in towards that all-time highs. ES similar thing, that nice bounce. We end up having that push up in towards our pre-market highs. A little bit of rejection, but you can see the SMH is clearly leading the markets higher. We're above our previous day highs. We're above our previous all-time highs. the semiconductors, we're just looking for a continuation towards the upside. So for the semis, we end up having a nice push and as you can see, nice pop right off the bat and we had that continuation up and towards our all-time highs and above. As for AMD, what was our main watch coming into today? As you can see, we ended up breaking above our all-time highs last week. So now coming to market open, we're looking for our previous day highs. So what was the key levels coming into today? It was fairly clear in my opinion, right? That previous day highs was a key level on AMD. as long as you maintain above that previous day highs continuation towards the upside. If we break underneath potential uh reclaim setup or the bounce off 470 was in play but for AMD that previous day highs for us was fairly clear. So price pull back within the first 5 minutes and now all we're looking for is the base above our previous day highs. So as long as buyers can step in here, we're looking for continuation back towards the upside.
You can see some lower wicks are being put in so far. And as price pushed back towards the upside, you can see this candle right here was fairly strong.
Ended up entering here as buyers stepped in off our previous day highs. Stop a break underneath looking for high day plus continuation back towards the upside. Now, as you can see the tape, if you have the EMAs marked out, if you have VWAP, once we're able to reclaim with strength, we end up having that nice push. Immediately, buyers stepped in for that push up and towards high day. little bit of a pullback but maintained and then as you can see nice push all the way back up and towards our 495 which was a key level. In this case there really wasn't anything to base it off of. We kind of just drew some some Fibonacci out right 495 and we had a couple more key levels. 500 was a key psych level. Uh never ended up hitting that one. uh maybe it might hit it later into the day, but so far as you can see for AMD now kind of right at our 494 with of course the overall markets pulling back. So right now as you can see uh there's AMD was super solid today. MU was one uh that ended up having a nice push towards the upside.
MU above our 820 was in play. Uh never quite gave a perfect entry but the overall higher time frame was textbook.
You had that five minute range retest potentially or even that first pullback on MU for continuation towards upside.
Regardless, this is super nice move.
SNDK off our previous day highs was solid. Intel lagging behind. We'll talk about Intel a little bit more in the coming days. Uh but there's been a couple nice moves, right? Qualcomm we talked about last week, all-time highs.
ARM, another all-time highs push. So, there's been a couple names that have been showing some really nice price action as of late. Nvidia is the one that's been lagging behind, but once Nvidia does end up bouncing, we're going to have a nice move in the overall market. So, with that being said, uh let's go on to the live session here now as well and see exactly what I was looking at in real time. So, as you can see right here, coming into market open, right, Q's opening up close to our pre-market highs. Couple names are popping, MU popping right off the bat, EMD pop, but now we're coming back down in towards our previous day highs. So, this is our exact level. As I mentioned, I want to see buyers step in here off that 480. As I play out the tape, we're looking for EMD off our previous day highs. I'm waiting for some buyers to step in. Q's at this current moment.
This is our first dip. So, our first dip here on the spine cues as SPY. What we had was our previous day highs. So, I wanted to see buyers really step in off our previous day highs for a reversal cues. I just like to see that first step get bought up with, of course, SPY bouncing off our previous day highs here. So, as I play out the tape, we're waiting for some more buyers to step in here on AMD. Some nice buyers as you can see so far, right off that previous day highs. MU leading the market. SNDK had a nice bounce here as well. And as you can see, so far right here, this reclaim on the Q's gave me more conviction.
Reclaiming back above this opening range here on the Q. So, we're bullish SPY bouncing here as well. Nice buyers stepping in off that previous day highs here on AMD. So, this is where I get in for a move back towards the upside. And as you can see, nice buyers end up stepping in right off that fivem minute range. Sorry, off that previous day highs. You can see, look at this next fiveminute candle. So the first candle pushed down in towards that previous day highs. Reaction candle once we flip back above that was a key sign that we're looking for that continuation back towards the upside. So the break back above was a good sign that markets were going to continue higher back above this 2482 stop at lows looking for 5day plus continuation. And as you can see, buyers just immediately stepped in on AMD and then of course Q's back at hive day. AMD basically uh not a single down close candle after we broke back above. Buyer stepped in right back up and towards this hive day. So super solid there on AMD. end up scaling some up in towards this high five day and then right scaled some into that 495 area uh with the Q's of course with a nice hold right on the Q's off our fiveminute range high and then MU was the one that of course leaded the markets higher so MU would have been the best one today in my opinion if you could have got an entry on that and then there's other names like SNDK and a couple other tickers maybe an Intel reclaim for a mini day trade but yeah with that being said a nice way to start off the week uh the markets have been continuing to show us uh plenty of opportunities. So hopefully you guys have been able to capitalize either on the day trades, swings and long-term basically everything's on full effect. Uh the swings and long-term have been the best day trades have been solid as well. A lot of the best day trades have most likely been right nice day trading entries and then maybe holding some trailers for that overnight position, especially since the market has been continuing higher. But yeah, with that being said, I'm going to call it a day here. Hopefully you guys did enjoy this. If you did, appreciate if you guys drop a like and sub, and I'll see you guys tomorrow. All right, take care everyone. Peace.
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