Warrior Trading Blog

Pushing Hard Enough To Make It Roll! 2/2 GREEN Trades | Roberto’s Weekly Recap


What’s up guys. Roberto here. I’m a trading educator for Warrior Trading and today we are going to talk about the trades from the week. So, overall it’s still summer, we know it is the slowest time of the year and luckily the earning season just kicked off this week. So, I ended up having a couple of opportunities and was able to capitalize on those. And so, the selectivity that I really applied this week has paid off. So, that’s always good to know and that’s also my recommendation. Always be responding to your own strategy, the one that you really are able to see. The one that you are able to execute. This is a little secret of how to be successful as day traders. With that being said, let’s jump over my shoulder and analyze what’s trade together in this week trading recap.

All right, so, here is how my stats look like for the month so far. And so far, during the whole month of July, now we’re are actually past mid. Mid July already. I only took an overall total of six trades. So, six trades in half a month. I’ve been taking a couple of days off and there was a 4th of July as well, but still it is a lower number than what I would be typically taking. And I would say that’s quite normal for summer, especially outside over the earning season, that really only kicked off this week. And so overall I’m quite satisfied with the way I’ve been managing through these slower time. So of course, you see these accuracy above 80%, very good profit loss ratio, but of course with such a slow, a low number of trades, these numbers can even change dramatically with one single trade.

Good numbers there, but you should really be taking those with caution especially if you don’t have a big enough data set to be [inaudible 00:02:55] with. If you are taking less 15,20 trades, these numbers can be misleading on one or the other side. Good to see the accuracy is very high but only [inaudible 00:03:09] so far. So, with that being said, let’s analyze the trades from the week. I only ended up taking trades on the 16th and the 17th of July, which for the records were Tuesday and Wednesday. And I ended up taking a trade on Roku and one on Qualcomm.

I took a long on Roku and a short on Qualcomm, But as you will realize, I actually ended up taking kind of the same scenario, but reversed. I took a long here on Roku. This one here basically means there was a long trade and this minus one here it was a side of a short. I took a short and on both occasions I ended up taking my entry at right time and I scared out my winner to an average win of more, definitely more than I would have risked. And so that paid off with a decent couple of winners just below a thousand bucks.

So that made it for my week. Let’s jump ahead and analyze those trades individually. The first one is Roku. Roku on the 16 of July, of course I already prepared that for you guys to review. So, we’re talking about this day, 16 of July. I mean, if you guys are familiar with my layout here on trading view, I keep the 3 minutes chart here on the left, and then on the top right corner I keep the 10 minutes chart, and here on the bottom right corner I always have a look on the daily chart. Just to have an overall overview of what’s going on at a broader level. So, Roku… It was quite actually, unusual for me, because I did not have this one stock, this one name actually on watch before the market opened. And instead, I was watching some other names. Now I can’t really remember.

But there was nothing really aligning for the trading style that I take. And so someone mentioned Roku. I open the chart and I realize, first of all, we were having high volume. How do I realize we’re having high volume? Well, I have an indicator here that daily, for relative volume down here. So I have the volume, I have the average true range here, those blue bars, and I have this one indicator for relative volume. And it was definitely, as you can see here, the bar is green, solid green, and it was signaling higher relative volume, of course, than usual. I looked up the chart and I believe we’re already half an hour into the day.

And what catch my attention was the fact that, on that day of course, we had this one line, here, at about 108.30. It was basically the previous, the former all time highs. And, as you can see here, we don’t really have any sort of resistance. And this one candle, the daily candle for the day was just pushing through the previous all time highs. You can see this one is the same kind of level we just throw here. At that time it was the all time highs. And so, whenever that happens that a level of that magnitude, that importance gets pushed, then I, especially with volume, high relative volume, that’s when I get interested. I get interested and I certainly don’t just get involved in a long just because we pushed above it.

I need to see the right setup to form. And of course, with that kind of setup forming on a stock like Roku, which in the past has been making some very good moves, especially to the long side already, I just knew this one had potential to move further more to the upside. Here on the daily you can definitely have a look and see, this one candle here, very solid green candle. Then we have another one here in February, another solid candle. Every time we have this kind of setup pushing into highs, we had a very solid green candle. And so, whenever I notice that, I really figured we could have potentially pushed once again above it. And so I just waited for my signal.

My signal, it has to work and it has to respond to a specific pattern. And for me, it is a retest or the 13 EMA here, this orange indicator you see here is the 13 Exponential Moving Average, and this the three minutes chart here of course, and I paid close attention to it during the first hour of the day. Anywhere from 9:30 all the way to 10:30, I’m looking to it and I’m definitely interested to take a trade on the same side of the push. So, in this case it’s a long, would be along.And whenever the first test happens and shows strength, that’s when I get interested for a continuation. And that’s what I ended up taking. So, I waited patiently, through all this move, and then I noticed, on this one candle, 10:21 AM, that of course we had a deep very close to a 13 EMA and then this thing started pushing again.

So, let me just zoom for you guys so you can see. This one candle at 10:21, deep in here got bought. As soon as I noticed it was confirmed a strength, that’s when I jumped in. I jumped in at about 109.90, and then boom, this thing just continue to push and I set my target. Basically I set my target, first one target here, at 110.70.75, and then second target here, 111.27. I had actually a meeting later on, but ,instead of me holding the balance, actually here… usually whenever I take profit I would hold the balance and eventually I would sell the rest of the position, if it comes back to break even, which are actually happen, right here ,when we were aligning with the 13EMA on the 10 minutes, here. And that was actually another opportunity to eventually buy into.

I was in a meeting and then I ended up passing on. But of course there were other traders in the community that took advantage of this bounce here and ended up actually taking a very nice trade here, risking a very tiny amount here, of money for a big potential. So, I ended up hitting a couple of targets and then as soon as we fell back below the 13 EMA, I ended up taking the rest off.But still it was a very nice trade. Very nice trade there and I was definitely proud for the way I ended up managing it. So, with that being said, we just get to the day after, where I ended up taking a trade on Qualcomm. In this case it was a gap fade. A Gap up fade scenario.

So, what am I talking about? Well, whenever we had the situation, where we have a gap up, If you know a little bit about my style, what I would do, I would eventually be interested for a long, above, the premarket extended hours high or for a short below the premarket support. In this case the obvious support, here on Qualcomm, was 78.50s. Somewhere around there.We had this push above it and it held, just the night before, on a news. This wasn’t an earnings trade, but it was definitely a trade on… They had a [inaudible 00:13:06], a reason to move. So we had high relative volume.And so, the daily also was looking a little bit weak. After this big strong move that we had a couple of months back, we ended up rejecting almost the full move and then on the next attempt here to push above, we just had this big rejection.

So I knew that if our new push potentially would have happened, this one had potential on both sides. On the short, either the short or the long side. And it was quite clear to me that we had room, eventually back below 78, but what I do, what I always do, I wait for the first three minutes to print and eventually, to eventually give me an opportunity afterwards. So in this case we had a deep below the support and then a push. That’s why I wait this three minutes. I don’t just jump in the first three minutes. I wait here, because more often than not if you just jump in at the open the risk of getting caught on a move, volatile move against you, is too high. Imagine it opens, it fails the support, you get short at 78.40s, and then boom, this thing runs almost one point against you in a heartbeat.

So, I want to avoid those situation and adjust wait. What I notice here, that the following candle, of course, made that three minutes opening range breakout to the upside, but I wasn’t interested to take a long, of course it was well below the premarket highs and instead I waited to see if this thing could have actually rejected the move, and at that point I was also distracted by some other moves ,because here actually, on the third three minutes candal, after there is a rejection and we were back below the 13 EMA and the 10 minutes, back below view up, back below the 13 EMA on the three minutes, this was very nice opportunity to begin a position. Look at how nicely this thing rejected.So we rejected, open the next three minutes, start the selling off.

This was a very beautiful opportunity to enter.They ended up missing, because of course, this one, first candle, got me a little bit not interested into watching what was going to happen next. I was focusing my attention to other names. And of course, because of that, I miss this first move which other members in the chatroom, because they started our strategies, ended up actually taking advantage of and I was really proud of that. And so instead of me chasing into this move, what do they do? I waited for the three minutes and 13 EMA on the three minutes retest. right? Just what we did on Roku, but on the opposite side, for a potential short on Qualcomm. And so, this was the first move. We didn’t really get anywhere close the 13 EMA, and here the situation actually changed. So, we had this retest quite close to the 13 EMA and the end we started to sell off. And whenever I noticed the shift in the price action, I got short. I got short the 77.05. Yes, exactly.

So I got short the 77.05, right here, the low, basically the lower this candle, looking for a potential move to the downside, of course, for a continuation and this thing just continued to sell off. We took out the lows here, and that’s where I took my first piece off and then of course this thing, a few minutes later, ended up getting to my second target. And, here actually, we got very close to my target and ended up getting fill to the [inaudible 00:17:57]. I remember I had my order out here, at 75, no, actually I had it at 75, a little bit lower, at 75.68 and I ended up not getting filled, really by a few cents. Whenever that happens, the next move up I take more, a little bit more off and that’s where I ended up doing here.And then we pushes above the 13 EMA right here. I took the rest of the position off.

I took the rest of the position off and I was done. That was basically done for the day. So, this thing, it actually ended up not even rejecting it too much. Tried to reject it once, and then it was rejected once again, here twice. Ended up having to get back all the way to ####be you up, and after that we got a very nice fade later in the day. But, by that time, of course it was all out and I was quite happy with the win they ended up locking. So, since we have a little bit more time, I also wanted ,in this case to explore ,to talk about a trade that I did end up not taking. And that’s the one is SKX.

So today we had SKX, and this thing was gaping up, big time actually on earnings.It was gaping up on earnings. Whenever that happens, as I just explained, I mark my levels from premarket. So the premarket low support here was at about 38.60. This low at about 6:05 AM. And then we had the high of the day, here. So they have a premarket at about 40.40. So whenever that happens, as I said, I’m always open to take a trade eventually on a continuation. Right. So, I want to take a short, if we crack below the premarket support, and I’m eventually interested take along if actually it ends up pushing above the premarket highs, which actually were lying more here, [inaudible 00:20:55] 40.30s, or so.

So this thing opens and, of course it was a gap up. They started to sell off. But I know I have this level at 38 60. So I’m not getting into a short here ,unless we crack below it on the first three minutes, and so I would be eventually interested to take a continuation on the next three minutes if we are not too much extended. But that’s not what happened here. This first three minutes we really had a relatively short range and things really started to sell off in the second three minutes candle. But by the time we reach this premarket support, we are already on a third three minutes here, and am not taking a short here, just on a three minutes low. What I would wait for is a next three minutes bird flag. So if this thing retests here, at about view up or the 13 EMA’s, and then it starts to sell off back down and it makes a three minutes bear flag, then that’s when I would potentially be interested to take my trade.

But instead it really bounced off this level.It started buying strong. So a lot of buyers stepped in and started to push this thing higher. They start to push this thing higher and that point my buyers also start to switch. I switched the buyers because now we’re back above the 13 EMA’s and the [inaudible 00:22:49] up, and we are starting to push above the premarket highs. Premarket highs were here, at about 40.31.

And so, once again, I’m not taking a long here, just on the first push. I want to see a push above it and then I would be eventually taking the next flag. The next bull flag in this case for a long. But why did ended up not taking the trade? Because, as you can see here, we had a flag, right? But what really got me interested and got me away from this trade was this big rejection with volume. So this 40.50 here, was attempted once here, was attempted twice here, and then here we got the rejection. Got the rejection, and we got it with increasing volume. Look at the volume compared to the prior three minutes candle. It’s almost double as much. And that means that we have a lot of sellers there. They really did not align with the fact that I would eventually be taking a trade to the long side on the next bull flag.

And instead, I would’ve waited more patiently to see if that 40.50 here , could have really taken out before eventually get me interested. So instead, we kind of tried to hold… We pushed back close to 40.50, and then boom, we have another rejection there. And that’s what really just got me to a point where I just right off the name.It’s not tradable today. And as you can see, this thing is going absolutely nowhere. So if you’re trying to take a side on it, you just realize this thing is trading in between, basically his support and his resistance up here. So there is no trade to take for me or for my strategy, which I look actually for trends above the measure resistance or below the measure support.

So, not trend there. No trade for me. So I hope, also this one, was beneficial to you, to understand a little bit more of what I do and what I also teach in the mentor session for warrior pro members. And if that’s so, I would just kindly ask you to share some love and push the like button for me, would be really appreciated. And with that being said, I am dropping also a link in the description down below. If you are interested, into Trading View, there is a link you can click off and you can definitely evaluate opportunity to step up your trading with a professional charting software such as this one. And so you may eventually decide to subscribe to any of the package.

And right after that, you may even email me at robertowarriortrading.com and I would be making sure to answer to you guys and to share my own layout. That includes a lot of custom coded technical indicators. Thank for your time, your attention and I will be speaking with you back on Monday.

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