Jordan Black

Civil Engineer and Independent Trader with a large focus in technical analysis. The goal of this Tumblr is to create trading playbook.

[thetechnicalroom]

Biotech $IBB

[thetechnicalroom]

The one that got away

As stated before I created this Tumblr page to make a trading playbook. I find myself time pressed to post all my trades on stocktwits intraday. 

Here is one good trade and one trade that got away on Friday.

The Good - $MDVN

MDVN gaped up on Wednesday and was trading in a nice rage consolidating its gains. Thursday closed inside day and this triggered my radar. 

The way I played this was on the 5 minute chart. As MDVN approached resistance it started consolidating on the 5 min going inside inside. On the break above 50.30 this is when I bought. Not every trade works this great but immediately it ripped right to 52 where I sold when it could not hold 52.

The Bad - $PTCT

PTCT triggered intraday and popped 50% at one point. It smashed through its weekly range and this is were I was looking to get in. When things move fast I watch the 3 min and 1 minute charts to get clarity. See below PTCT went inside 3 min and was a buy around 7.76. I did not take this trade and missed out on 25% which feels like a loss. Also, it gave me a chance to buy in on another 3 min at 8.75. Even worse there was a third chance to get in after it flagged for 2 hours went inside 3 min and broke above the flag and VWAP. So here is to leaving a few Benjamins on the table. Next week I will be watching names in the $IBB and $XLE. Cheers

[thetechnicalroom]

Visa

Visa was another great trade last week. Who said the consumer was dead?

What a great weekly chart, buy every dip you can for now...but here is how I traded it. Friday March 25th finished the week inside day right near short term resistance. On Monday we had a slightly higher hammer (almost inside day). Tuesday I bought above Mondays high expecting a run to break the downtrend. Since $V finished at the highs I kept most of my position. Wednesday we gaped up and rallied into the downtrend resistance and here is where I sold. Thursday it finished inside day and could have been re-bought when it smashed through the downtrend line Friday.

[thetechnicalroom]

Salesforce Trade

This weekend I decided to start a Tumblr page to start an online trading playbook. I will try to post both good and bad trades. Most of you will know me from stocktwits but I have been having a hard time posting live trades when there is too much going on.

Here is the first trade. Salesforce $CRM It gaped up Wednesday above resistance and was followed by an inside day Thursday. The trade here was to buy it on weakness on an actionable 5 min signal and add to my position size as we broke through Thursdays high. This trade worked out well as the market rallied to close on YTD highs.