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Warrior Trading Blog

One Shot for a 5:1 Profit on $AMD for $270 | Hulkman’s Trade Recap

Hulkman_6.17

Hey traders, warriors, and stock market enthusiasts. How are you guys doing today? Hopefully everyone’s having a good trading day. We wanted to go over today’s trade recap, show you guys the, when we got on AMD one that we’ve been stalking. As you guys know, I got a few recaps on this. I love trading AMD. You can really get some size. I think its size today unfortunately, as it was outside of my trading timeframe, but it was one that I was stalking patiently all morning. And once I saw the signal, I got in, just reduced my size through the time of day. So let’s go ahead and go over the trade on the screen. In the morning we didn’t have anything on watch that I liked. It was really, really dead. I expect this to continue here until Wednesday. Once one’s pal speaks and gives his views on the economic economic data, then we should get more volatility in the market one way or the other.

But, so no watch list today. Nothing that I really liked, so on days like this, I just keep track of the market. See, I have Amazon up here in the corner, and then I watch AMD, and I watch Facebook. Nothing today I liked on Facebook. I keep an eye on Apple. Just your regular market names, market movers. I like to keep those on watch, see for technical levels. I was watching this Apple today. Same thing. No watch list. Started to watch it out of the open. I saw the washed out log. Let’s see if we can get in on a short, either here at the 50 or at this pivot. Tried for an entry here at the 50, tried to catch a scout, didn’t work. No field and try to get in up here, and then never got to my target area.

So, left that alone and after that and just sat and waited and waited. Started to watch AMD. Like I said, it’s one that I constantly have up on another monitor. Still a little bit sick. I’m getting over it though, so if you guys hear my voice, that’s why. But this is the other one I saw that we didn’t have much buyer pressure at all. You can see the pre-market just relatively flat. This was a very, very important level that I’ve been watching. Yesterday, as well as, on Friday as well. I wanted to see if this would either hold and I was going to look for a swing trade to the upside, or if it was going to break down. This is a very key level, one that we caught on one of my last recaps. We broke through this 30 level. As long as you have a macro trend line here on the daily chart, you broke through the 30 level and it just skyrocketed.

See if I could show you guys on here. I believe that was on this day, you know it was this day here. Yep. Soon as we broke through, we held the level and just pushed right through. Pushed right up. It’s been on a tear ever since. But, that was a pretty good day. Tried that one twice. Got one win on that one, and then one break even. So today, looking for the opposite. Either I figure, okay, we’re either going to break down through it and same kind of direction or momentum. A lot of stops are going to be in this area. Or hold, and start to push up for another leg higher. But, watching it all morning to go back to the five minutes.

Was watching here at this 15 minute, 28 million. This purple line. I said we could stay below this all day. We should see some selling to this 20. And once I saw it push up through it, reject. Okay, let me just keep watching this all day. Put it on and started to focus on it. Set an alert. As soon as we broke through this pivot, I have a pivot here at 29.94, which is pretty much 30. Saw that breakthrough. I wanted to see, okay, let’s see what kind of retest we get at the 20. Now you can see the volume on this is the five-minute timeframe. We’ll get the volume as a push through as we started to sell into the level. And this was not…

When I look at something like this, if this level is going to hold true, which we are going to see is a quick snap back, push away from that level like kind of like the first test here. A quick snap back, volume increasing just like you saw here, looking to sell off. Look at the green. This is indicative of a reversal or a stock that does not like that level. It’s not going into a breakthrough. So, that kept me out of it this morning. I was okay, no worries. Just watch it. See what kind of trend we get throughout the day. And sure enough, high volume on the seller and then I look at the retracement volume, was actually decreasing. Like, okay, you know what? I’m going to try it. I’m watching this on a granular timeframe.

Only bad part about this trades here was that I did not take efficient size. But, my history as a trader has shown me that past 8:00, I’m on Pacific timeframe, so past 8:00, I do not have that great of success with traits. So lowered, my size in case this don’t work. Oh, headache, stop. Okay. All right, let’s go through the training first . How about we start there?

Took an entry here at 97, so for 29.97, right in that area with a stop at here this a general supply area, price action pivot area. Just right here coincidentally was 30.10. I figured we could push up through the hole, make a relative high at 30.10. This would probably rip. The market was relatively holding pretty good today. It’s all chop. Like I said, most things are waiting for Fed Powell to speak, so those, all right, I’m going to drop my size. I know that it’s outside my timeframe that I like to trade. Lower my size, and let’s see if we could get the move.

Took an injury here at 29.97. Was looking to see if we would get a double bottom. And we were going to use that double bottom. My stop was going to be break even. Two times bottom right here on the granular timeframe, which coincidentally was with the 20 EMA. If that would’ve held, I would have just stopped out break even, called it a day. This was my only trade of the day, but once I saw it we broke through on a volume increase, I was okay. We retest and failed, and that’s a good sign. This is typically where I would add had we been in the morning momentum. It was right there. This would be great, great add spot.

As you see, I’ve talked about these before. Let me zoom in. You can see nice little, so that works out very well with these. These are very, very strong, very, very powerful. I like trading off of those. But, due to the timeframe, I know my history as a trader, I didn’t want to push my limits because if we were going to get a a quick snap back to test this 30 pivot, I probably would have stopped that had I had a heavier size. I’ve done that plenty of times, and given the time of day, lighter volatility, lighter volumes, then I’m sure we would’ve got something like that.

And, typically what happens is it’ll pop up against you, you stop out, and your is over. So, I dropped my size following my game plan and I said, “Okay, you want me to stick with the trade.” I was looking for a target area of this macro line right here, back to the five-minutes that you guys could see it a little better. Trade plan on this was this macro trend line. This comes off the daily charts, is what we were looking for to bust through to the upside. I believe it was a week or two ago.

So, this was my final target. I didn’t piece out any in between. Volume was staying steady, market was looking weak. I use the ADE and I was watching the QPQs and XLK. I’m okay. No reason to freak out on any of these green candles. I’m way well in the money, so no matter what, profit stop profit stops me at 75 then it’ll still be a green trade. This is the kind of trades you want to be nice patient trades, where you’re perfect entries, and you can just let it work on house money. So,, either way it was a green trade and luckily we got lucky that we got the move that I was intending. You could see every time we would pull back, look at the volume. Increasing volume on the sell, increasing volume on the sell.

Once we reached down here, we got recalation volume here on the five-minute, which is the highest volume of the day. And I saw, okay, that wasn’t pushing through any further. So once it held, I waited a little bit longer on the 24-second timeframe right here. Or here’s where it held on the highest volume of the day. Was holding, holding, consolidating. So I thought we’d get a push and just said, you know what? Okay, I’m going to go ahead and call her it a day. Took the rest of my profit, right as we were starting to push. It looked like it was going to push. Either way, I’m okay with it. You never catch the absolute top and absolute bottom. So, you can see from my entry point, I had roughly about 10 cents risk for a roughly about 50 cents smooth.

So, good for five to one. I call that a great trade. Good Monday. Good way to start the week. Like I said, it’s a slow week. I wasn’t expecting to catch anything today. I don’t expect to trade tomorrow. We’ll see. If opportune times like this happen, then I’ll be here to take advantage of it. If not, then just sit here patiently. Nothing wrong with sitting tight. You don’t have to force a trade. You don’t have to make yourself red on bad days, but when the good days come more than, more than, more than make up for the patience of waiting. Man, it was a tongue twister.

But, all right guys, let me know what you guys traded. How’d you do today? Green? Red? Let me know in the comments what kind of videos you guys would like to see. Thank you guys for watching. Take care.

Oh Hey, I didn’t see you there. Why? I was just working on the dream board for my next home run trade. Hopefully, it comes soon. Until then, make sure you subscribe to get email alerts anytime I go live or upload new videos. Until then, happy surfing.