July 31

Yesterday was the ideal trading day. A clear, well thought out plan. Patience. Waited for obvious. Executed at CasPar / Premium Support. Profited.

Repeat coming.

Daily

Bullish. Yesterday we tapped the D13 and quarterly call trigger, bounced, and held the 8e. We gapped up today but PDC has not been breached.

4h

Finally some interest. We put in a new high overnight, with divergence, signaling a mean reversion. The morning session delivered the reversion to the mean and then some. Price dropped to the 48e and ultimately closed just above the 21e. Resistance is at the monthly 618 level. Support is at the 48e. Bullish bias in tact. SPX.. morning session gapped and bounced off the 13e and held the 8e and the 500 level. Resistance at 618.

Hourly

Yesterday the MD Put trigger was the low. Overnight the MD call trigger was the high. We've lost the H48 and PWC. The 12p candle tried to get back into the ribbon but rejected. We are starting to squeeze with momentum turning down. Same MD pivots on SPX. However the ribbon is bullish with the 21e and PWC holding as support.

10m

Hilariously clear down trend. With a pullback to the 10m21e serving as the ideal entry point. Momentum is growing on the 10m. A move to LOD would not be surprising. Continuation is expected until a clear reversal pattern emerges on the 3m.

At this point I've 'missed' the put entry at the 10m21e. While I do think further downside to LOD is likely, we are very extended on the 3m and 10m and it is not the best risk / reward to enter puts here. I will wait extremely patiently for price to finally get back into the ribbon. I will wait to see if we start to reject the ribbon. If we do, I will then wait for price to reach resistance before entering puts. I will try my hardest to hold until LOD...

Sigh and just like that LOD is hit. I wanted to chase into the 6360 at 3ish and they've already hit 10. It's okay. I missed it. So what. On to the next one. It wasn't the right entry. I did the right thing. There will be another opportunity.

Patience is key. Yes entering puts with the trend was the better side. But the set up on the long side was clear as day 2x. The first trade was far better executed. The second I was too early, but the conviction allowed me to average down into a profitable trade. I don't want to make a habit of it but I had very clear justification for the adds. Because I had size I exited quickly. But ultimately the trade returned 166% from my last entry to my last exit. As always, no need to size the way I did. Plenty of juice with small size.

Last day of July...

I put myself into a massive hole because undisciplined Rishi showed up one day. But, 14 trading days later we've more than made up for that stupidity and we've ended the month green.

It was pretty by any means.. but that's now 4 green months in a row. Amazing, amazing achievement. I'm just proud of how I've traded this week.

Planned out. Slow. CasPar. Premium divergence. A real command over what I'm trying to do.