Premarket: Was not able to trade on Monday, but it looked like a difficult ranging day to trade. We have big numbers releasing this week with the biggest being the Fed Rate Hike on Wednesday. There is a lot of uncertainty leading up to that so its best to be careful and scalp trades rather than hold large moves. Today we have JOLTS Jobs at 10:00 which could make some movement. Yesterday we topped at 4206.25 which was 2.25 points away from the yearly high. Once we reached that level we rejected and then found selling pressure where we reversed on the day. However this was on relatively low volume, which doesn't really make sense. Going into today we are opening below VWAP with the -1pivot at 4170.25 and -2pivot 4160.5, 0pivot at 4188.25, and +1pivot at 4198. The premarket range is from around 4176-4192. Going into openif we see a push back up to VWAP or 4177.75 (key level in the past) where we find strong sellers then I will look to take a short down to 4170.25 or even 4166. If we find buyers and we break above VWAP and hold I was to see buyers stepping in and then retest VWAP I want to go long up to at least 4188.25 while keeping an eye on the 4183.5 level which is where we have found a bottom yesterday.
Trade 1: I took a short when we were finding resistance at the -1pivot at 4170 looking for the continued move down to the -2pivot. My risk was the high of the last 5 minute candle which was 4172.25. This never tested my stop and I closed out for even because the JOLTS numbers were coming out at 10:00 and I got scared of the news. I should have just held and this did exactly what I thought it was going to do and I would have had a 10 pt winner on 3 contracts. Even the JOLTS numbers, while it did spike up initially, did not test my stop loss. This was piss poor execution. I cannot be afraid of news when my thesis is appropriate. After fucking this trade up I was angry and feeling FOMO so I decided to step away.