July 2nd Plan

Fuck! Yesterday was so dumb. Up 2% to down 18%. Never again.

Biggest issue. POSITION SIZE. Keep It Small Stupid.

• Could've, should've easily cut and re-entered with more confirmation. NBD.

Second. Not defining what candle close would actually invalidate the direction.

• Scary tank to put trigger but bounced and didn't break previous swing low or support.

I have to remain completely aware of the context. I have to wait for multiple candles closes. I have to articulate why it's a system trade. And, articulate why it's not!

Hourly Chart

Everything is still bullish. But we're in a tight range with no real catalyst on deck to move the needle. Yes the Hourly lost the 48e, but the 4H 21 is just below, in line with previous support from the last two days. No real pressure for a big sell until the PWC close actually breaks. For now I play the edges of the range.

10m Plan

Put trigger support is holding. Expect a bounce up into the ribbon and see what happens from there. We're in a down trend with the hourly trying to flip, so downward continuation can be expected, BUT only to the put trigger, previous day low at most.

Look to see the reaction at 10m21e and PDC as possible put entry. Wait for an M with divergence.

Calls only valid off the put trigger OR a proper close above PDH. Even then not much upside give strong supply and resistance at PMH.