Trade Recap for Wednesday 8/9/23

Trade 1: $BA 240c

• Reasoning: key level reclaim

• Entry: 2.47

• Exits: 2.95, 2.33

• Size: small

• Profit in percent: +20%

Explanation:

Today, BA was showing relative strength to start the day off and I was looking for a reclaim of 240 again for a position on calls. When BA broke over 240 this was the entry for calls. Was looking for 1-2 points on this and when it broke through 241, I booked 20% on ½ of the position. Following the 241 test, it quickly pulled back and stopped me out.

Trade 1: $AMD 108p

• Reasoning: 109 breakdown

• Entry: 1.4

• Exits: .83

• Size: small

• Profit in percent: -40%

Explanation:

Today, we saw weakness within SEMIs and sold off into the KEY 109 support. When 109 broke, I went short for a move targeting 106/105. Following the entry, AMD held the support and bounced stopped me out of the trade. Overall solid setup but the market held support and bounced which was the problem with this one.