*disclaimer: Not financial advise. This is my personal trade plan only. I am not qualified or licensed to advise anyone on their specific positions or trades, I am giving my personal opinions only. Always consult a professional for investment related advice and do your due diligence*
Hello everyone, hopefully you’ve all had a great weekend. Markets have been slowly grinding up/sideways for several weeks now as price action continues to become more and more compressed. I spent some time over the weekend diving into the main indices ($ES, $NQ, $RTY) and posted my findings on my twitter (link below)… It’s only a matter of time before this tight price action breaks out, and I expect the break to be to the downside. I expect tech to be hit hardest while growth holds up with relative strength. This is likely to provide some sweet long setups over the next several weeks, as well as some short term bearish setups. This week is OPEX as well as FOMC so be careful of choppy action and/or whipsaw. I see some great opportunities coming up, let’s make the most of them 🎯
Bullish Setups:
$PINS 4H (View)
Entry: $61 | Targets: $75, $83 | SL: $53
– Watching for a swing entry, will take August calls and/or shares
$UBER 4H (View)
Entry: $47 | Target: $59 | SL: $43
– Looking for a deeper pullback for wave 2, a nice setup for a swing trade.
$DIS 4H (View)
Entry: $173 | Targets: $183, $193 | SL: $167
– Primed for a breakout from the channel… simply needs one more flush to the .618
$NKE 4H (View)
Entry: $132 | Targets $160 + | SL: $125
– I will be entering shares tomorrow at the open for a 3-6mo hold.
$CCIV 1H (View)
Entry: $24 | Target: $28 | SL: TBD
– Watching $CCIV for a shorter term trade. One more flush to $24 to fill the gap could signal the end of wave (4)… if we get a reversal from that area I will enter calls for 6/25 with a target of $28.
$SNDL 4H (View)
Entry: $92 | Target: $1.50 | SL: $0.79
– Looking to add shares in the golden zone for a quick move into the $1.50 area
Bearish Setups:
$X 30m (View)
Entry: $29 | Target: $26.35 | SL: TBD
– I will be watching for a reversal near $29 after the final w5 completes. I expect a sharp drop towards $26 to follow. I will likely take either 6/18 or 6/25 puts
$SNAP 2H (View)
Entry: $66 | Targets: $59, $56 | SL: TBD
– $SNAP likely has one more push into the $66 area. From there I will be looking for signs of a reversal down to $56-59.