Highlighted Trades - 06/25/2024

We had 39 trades today - 17 long and 22 short. These covered 28 unique tickers. Let’s check them out.

Our best trade of the day - and one of our best of all time - was a short on ALB where we made 1.87%! The entry conditions here are absolutely gorgeous. The cross is strong, both TK-lines slope down, momentum is great, MACD is on an 11-candle streak of building bearish momentum, and it just broke through its last established level. I 100% would have taken this one, and if you were watching it live, you probably didn’t see any major red flags either. This trade is practically textbook, just a complete success from our system.

Our biggest loser of the day lost a comparatively benign 0.54%. The chart is a bit choppy here. It’s not to the point that I personally wouldn’t have traded it, but if you ignored the signal because of that, it’s understandable. Barring chop, I think the first entry is solid enough. It’s a breakout play, but given the strong momentum I think there’s a solid risk/reward. The second entry, however, I fully disagree with. That same momentum is completely gone, and given how close it is to the Tenkan-Sen line, the odds of an immediate stop-out are clearly high. To a chart-reading trader, this is something that becomes apparent quickly.

To finish off for today, let’s talk about one of our other big winners - TRGP. We made 0.67% off of 2 entries on it today, and I’m a fan of both. Momentum isn’t ideal for our second entry, nor is its proximity to the Tenkan-Sen line, but if you took a chance on this position, you brought in a 0.52% return from just that one. This is a trade that isn’t without its red flags. The Kijun-Sen line dropping before our first entry isn’t ideal, nor is the nearly-neutral MACD during our second. Overall, this trade isn’t immediately obvious as a winner, but if you had the experience necessary to see this one, you made some good money here.

That’s all I have for you tonight. As always, thank you for reading and happy trading!