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Recap from last week: My better half had an appendicitis last week so I was trading minimally and didn't have time to do my write ups. On Friday 3rd June I traded $HDSN & $SHLX. On the former I was stopped out as it reversed quickly. In hindsight the volume wasn't there. I'm still in $SHLX from $14.39 with a stop at $13.80. So far it hasn't made the move I wanted but it's in a strong sector with a good setup.

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I did not do much work last week except work on some scans and I also want to streamline my watchlists a bit better. I currently use TC2000 & Tradingview. I love tradingview for many things but they fall down with scans and the speed at which you can go through watchlists. I think I need to have only my focus list on there and use TC2000 for everything else including my sector lists. This will require a bit of work.

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Situational awareness:

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Cautiously Bullish on Monday. The market is coiling for an explosive move one way or the other. I believe that will be upward but my belief is of course weakly held.

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Pre Market Work:

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Chinese names rallying early pre market. I had been keeping an eye on $PDD other names with a lot of volume were $FUTU & $DQ. Regardless of big moves none of these names currently meet my criteria to trade in terms of a proper setup. I am also on the fence on whether I would even want to trade Chinese names, however it must be considered if they show significant accumulation and trend. So far they have not in my opinion.

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$ASH a Chemical name had a nice setup and a strong pre-market volume. It also had a positive shake out in the last week or so testing the 200 Day twice with a strong bounce on the second time around. Some other notable names I've mentioned recently were $BMBL & $DOCN both of which are continuing to set up well for a longer outlook.

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Trading day:

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Identified in Pre-Market I took $ASH at $111.20.

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Notice the higher than average volume on the day + RS + Price breakout. To me this looks like a positive name to be long despite the fade with the market late in the day.

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Shell stayed largely flat for the day and $ZM. was all over the place but it's range is still very tight with the moving averages converging more each day. On a breakout from this point I would considering adding to my call spread position which is currently slightly in the green. Notice the volume dry up in orange.

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End of day Thoughts:

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As mentioned in pre market I certainly wish to improve my watchlists. They're pretty good but some fine tuning and ability to scroll through them quickly would help. I also want to develop my scans a bit more in TC2000.

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Notes & Open Trades:

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Please note I operate my risk with options that I can lose 100% of the premium. This is the safest way to trade them in my opinion. Even if I cut at 50% once I am setup to lose 100% within my risk threshold then I will stay ahead of my required R:R.

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