Well today was another bloodbath in the market as people fear rate increases from the feds.  So you have to get good at making money even in a bloodbath.  That’s exactly what we did in the market today.  We did a few day trades which I will highlight below.  Don’t forget we give free stock and crypto signals in or Telegram Channel at https://t.co/GaEsivCQUi.

First Trade $CVNA

I typically try to stay out of the market it the first 30 minutes because the volatility is so unpredictable .  You can easily get into something when you think the market is going south and then suddenly the whole thing reverses and you’re losing your shorts.  Today, however I saw a setup on $CVNA that I just couldn’t resist.

At 8:40 AM Central about 10 minutes after the market opened I saw that CVNA was going to head down.  There were multiple signals that just showed this happening.  I shorted at a price of $25.05 here was my position:

 

 

kkk (in I set my stop loss at $25.73.  Normally I can do a stop loss and a take profit order in conjunction but I couldn’t get anything to work like that after I entered the position.  That sort of sucked because in the 8:50 Central interval I had already hit the profit target.  From then on I got traded against back and forth until I was finally able to take a profit at $24.58 a little less than my profit target of $24.39.

That said had I held out I could have even gained more profit because it eventually dropped way below the $24.39 mark but sometimes you have to improvise because your systems just aren’t working together and some of these trades you want to lock up profit before a market goes completely against you, which is still a possibility in this first 30 minutes of trading.  You can see that extra profit below the green as of the writing of this.

 

Second Trade $UBER

I spotted an opportunity to enter UBER at $42.24.  A bunch of my indicators were showing this was going down.  It couldn’t seem to break the 1 minute support line which was just above my entry.  I set my stop loss at 42.49 and my take profit at 41.98. 

This trade definitely way longer than I wanted to be but the volitility mid day is terrible so if you can’t get a few trades in early and make your money and get out you are better off than watching a chart all afternoon like I have been.  There was a resistance line on the 1 minute chart that the 5 minute chart just could not break through, but my profit was below a support on the 5 minute chart.

I ended up exiting at 42.20.  The charts just weren’t moving enough and that put me over my goal for the day so I just decided to end the trade.  I was already in it way longer than I wanted it to be and no matter what the gap between resistance and support was closing which meant if it broke out the wrong way I’d eat into some of my profits from $CVNA.

So we take a small win a little less than 1% on my money.  Here was what the trade looked like, it just didn’t pan out as plan but I maintained the key don’t lose money!  On the below image where the green meets the red (in the background) is my entry.  Red background was unprofitable territory where the top is my stop loss.  Green is profitable territory where I was in the money.  That Higher Low denoted by the HL in the gray box was where I decided it was time to just throw in the towel and take the little gain I had.

I probably should have waited it out because at exactly 2:29 PM right before the market closed it hit my target of $41.98 and I would have made the full amount.