Trading Week 8 [Wednesday] – Reversals & Opening Range Breakouts/Downs ($TLLP, $YUM)

By | February 23, 2017

Set ups I am focusing on

  • Gap Downs
  • Opening Range Breakups/Downs
  • Reversals
  • Context Play - including Trend Continuation (All Day Hold)


Green Day

$TLLP (Gap Down)

Catalyst

  • Public Offering - http://finance.yahoo.com/news/tesoro-logistics-lp-announces-public-210901040.html

Big Picture View 

I want to analyse the picture view right before the open. This means I look at multiple time frames like 15, 30 and 60 minute. The Day chart helps identify the Gap - either its into levels or out of levels. 

Looking at $TLLP, the 30 minute was a guide because of the bear sandwich! Should have used that as the basis for my trade and held on for the bullish engulfing candle at 10:30am.

$TLLP

Trading Chart

Perfect entry, go out too quickly though. Happy to have scaled out of position. This is something I need to perfect.

$TLLP

Technical Analysis

2017-02-22_TLLP_Technical Analysis_(1,5min)
Multiple Time Frames - Trade 1

2017-02-22_TLLP_(Multiple_Time_Frames)

Multiple Time Frames - Trade 2

2017-02-22_TLLP_(Multiple_Time_Frames)_Trade_2

$YUM (Gap Down)

Catalyst

  • "Yum said in its recent fourth quarter report that it saw a 2% decline in same-store sales at its Pizza Hut locations"

Big Picture View

I want to analyse the picture view right before the open. This means I look at multiple time frames like 15, 30 and 60 minute. The Day chart helps identify the Gap - either its into levels or out of levels.

Looking at $YUM, the premarket cation was somewhat side ways. So it could go anywhere at the open. That clue should have kept me out of the trade entirely.

2017-02-22_YUM_Big_Picture_View

Trading Chart

Frustration trading after missing the big moves at the open. A bit like revenge trading and forcing trades even though there isn't any good set up.


2017-02-22_YUM_5_Min_no_PL

Technical Analysis
2017-02-22_YUM_Technical_Analysis_(1,5min)

Multiple Time Frames
2017-02-22_YUM_(Multiple_Time_Frames)

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