Merchants,
It’s election week, so right here’s my recreation plan and changes for the week forward, together with my prime commerce concepts with entry and exit targets.
Because of the election on Tuesday the fifth, this week’s watchlist might be completely different. Like final week, I’m focusing much less on swing trades and extra on intraday momentum buying and selling till the election passes.
Whereas final week’s watchlist had sturdy accuracy, your fundamental takeaway must be to reverse engineer and research profitable setups to raised perceive my methods and key variables. That’s the purpose every week—that can assist you refine your buying and selling expertise.
Listed below are my prime focuses and concepts for the week, together with election situations and particular person performs.
Promote the Information in DJT
The Plan and Thought: This was the highest alternative of final week, as outlined and mentioned within the earlier watchlist and in nice element in Inside Entry. As I discussed, that is merely a proxy for the election, whereas nothing basically has modified for the corporate.
Consequently, one of the best alternative and state of affairs for me is that if the inventory gaps into main provide between $45 – $55 on a Trump win. Or maybe will get chased even increased within the early hours of November 6. In both state of affairs, I might search for a fast, short-lived hole and push increased, adopted by vital promoting and notable heavy value motion. I’d must see early affirmation of a sell-the-news occasion.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market components similar to liquidity, slippage and commissions.
Finally, I might place brief versus the HOD as soon as momentum shifts and I obtain value motion affirmation, concentrating on a LOD shut and probably sustaining a core place as a swing, so long as the inventory doesn’t reclaim its VWAP after making new decrease lows on the day. If Kamala wins, DJT will considerably hole down, so there is probably not a commerce for me, as I might not chase it. The inventory would want to bounce considerably for a brief entry. Nevertheless, I might keep away from it on this election consequence as the chance reward might be diminished.
Ideas on Bitcoin (IBIT)
Important failed breakout proper now in Bitcoin, as danger comes off and Trump’s odds have weakened. On a Trump victory, IBIT and related bitcoin-related inventory may be a magnet for a possible swing lengthy ought to value motion agency up on the information. Ideally, in that state of affairs, I wish to see a spot increased briefly pull again to earlier resistance and make sure it as newfound assist. That will get me to place lengthy for a swing.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market components similar to liquidity, slippage and commissions.
Nevertheless, given the latest value motion, I view momentum brief trades as higher danger: reward. For instance, If MSTR continues to seek out provide and reject close to $250, I might be targeted on brief positions versus the HOD, concentrating on new lows and solely shifting my bias if the inventory made a better excessive on the hourly timeframe. No pre-set plan or bias given the election. I’ll monitor flows and value motion and stay versatile.
*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t mirror the affect, if any, of sure market components similar to liquidity, slippage and commissions.
Further Names on Watch:
Amazon: Dependant on the general market’s route this week. I’m solely within the inventory for reactive trades across the all-important $200 space of resistance. I’ll enter lengthy if the inventory can base above $200, show relative power, and better lows intraday. If we push again into this and the provides stack and refresh, I’ll scalp it to the brief aspect once more.
Carvana: Good profit-taking day on Friday. I’ll have alerts for a transfer towards its 2-day VWAP and $240 space. If the inventory fails to observe by means of, I’d think about a brief versus the HOD for additional profit-taking.
VKTX: Consolidating above its earlier resistance coming into Weight problems Week, the place the corporate will current. Must see the response to that and whether or not the inventory begins to base close to the $78 – $80 resistance for potential momentum increased.
SMCI: On shut look ahead to potential breaking information alternatives off recent headlines.
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