Market Update 11/17

Good afternoon everyone, I hope everyone had a killer trading day! This morning gave us some huge gains on yesterday’s set ups & I have some fresh plays for tomorrow! Lets get into it:

Quick Recap:

$AMD: Winner– Early push this morning to close out any runners with a 5.3% gain. Still a bit of room left to run! +3.58% from entry as of today’s close.

$AAPL: Winner– Nice rip off of the .618 for a 1.44% move, a nice scalp if you caught it! I expect more upside throughout the week

$DKNG: Winner– This beast simply did not stop today. Continuation from yesterday’s entry to +14.7% at the high. I closed my calls +225%. I expect a pull back tomorrow and will provide a re-entry plan below

$TSLA: Winner– Massive +13% gap up for (iii) then a fade for (iv). Congrats to everyone who took this play!

$SPCE: Passed– Never reached the short zone… new set up for tomorrow

$WMT: Passed– Never reached the buy zone (set up still valid)

$WKHS: Passed– Never reached the buy zone… *Short scalp called out on twitter, holding 11/20 $20 puts overnight*

**BONUS- $SPY $363 calls called out on twitter for an overnight swing & $WKHS $20 puts for 40% gains**

Simply put, an absolutely massive day! Congrats on the gains!

Now, for today’s set ups…

$DKNG (15m)

Huge push today, but wave I should be just about done. I expect a fairly deep corrective wave ii. There is a gap fill on the 15m chart at $42.79. This area will be where I look at re-entry. As always, look for supporting evidence before you go long. Anywhere between the .5-.786 should be a good entry. I’ll be targeting the $45 calls for this week’s expiration.

$SPCE (15m)

Looking for a wave (ii) pullback into the demand zone. I want to re-enter long anywhere between the .5-.618. Should be a swift move off of that level.

If it breaks above the previous high without reaching the buy zone, skip it

$ES_F (30m)

Entry was given via twitter before today’s close. I expect a move up to 3655 by the RTH close tomorrow.

$WKHS (15m)

Short play given on twitter today, I am holding puts overnight. I expect a drop into the green box early tomorrow with a target around $20-$20.25. I am looking to go LONG here. Watch for a bounce off the trend line! It could put in a deep retracement so manage risk appropriately!

Make sure to follow my twitter @rbc_trading for live updates! Remember, don’t force any trades, let the set ups come to you! If the set up does not develop, don’t chase! This is a sure fire way to lose money. There will always be another set up right around the corner!

Lastly, I provide this information at no cost… but if you feel so inclined, I appreciate tips via Venmo (@Ryan_Chandler16)… If you find my set ups helpful and would like to make a contribution of any amount, it would absolutely make my day

Happy Trading Everyone! 

Leave a Reply