TrueTraderOfficial

TrueTraderOfficial Updated 

Needs a deep pullback to get me interested, but i’m in no rush. 139-140 is the area I want to start considering it. It very well may push towards 145 where I’m hoping it finds enough resistance to send it back to my levels. Remember, in the bigger picture this could have a really move setting up if we finally get back over those highs put in back in May

TrueTraderOfficial Updated 

Back to back inside days getting tight against the upward sloping 20d. Want to either buy a flush towards 113 with risk under Wednesday’s lows or if we push back above Friday’s highs then I will possibly look to build in long on dips as long as we can hold higher lows. Over 121 should send it.

TrueTraderOfficial Updated 

Netflix has been on beastmode since we discussed the breakout of the long base. Looks ready for the next leg up after retesting that important 570 level. Would watch for a flush to psychological 600 level to hold. May even buy some calls on this for a month or so out. I think 700 is in the cards if the market can right itself.

TrueTraderOfficial Updated 

Another from the energy sector is Pioneer Natural. Decent volume and good range. We had a nice breakout, nice flag that busted above. We retested levels and reclaimed and kept going. I want to see this retrace back to the quarterly pivot (159.75) on a weak open and watch to see if buyers show up.

TrueTraderOfficial

You may recall this one from last week’s Sunday Prep in which it was a short idea. Well now that it’s coming in, I would love to play the long on it if it could speed up down into the 200d area. It very well may reverse from here though and if it does, I’ll most likely skip it. I want my area or nothing.

TrueTraderOfficial

Financial sector has been strong. Want a dip to 165.5ish to get long. Can see that would be a 61.8% fib retrace of Friday’s strong action as well as some key levels from Thursday and Friday intraday.

TrueTraderOfficial

Nasdaq 100 – Tech Sector. If we gap down I’m looking for 1440 (support from July). If we lose that, then I’ll look for the psychological 1400 level. If we gap up, I’ll be looking to short pops.

TrueTraderOfficial

BULLISH TO NEUTRAL: Broader Market Analysis starts with the ES. Last week we talked about the first red flag of many. The break of previous month lows. (Aug lows were broken in Sept). Now with Sept lows being broken in Oct already. I still don’t think there’s anything to panic about.. At least not yet. Why? Because we’re just pulling back into the Weekly 20...

TrueTraderOfficial Updated 

It may need to cool off after having quite the run, but I think pullbacks now are buying opportunities. If the $XLE were to pull back to the 48-49 area, I would be looking for strong energy stocks that were looking ready to get a leg higher. 

TrueTraderOfficial Updated 

Even though you will see me using trendlines in my charts, I always like to have a disclaimer that for me, trendlines are merely rough guides. I’m not delusional enough to completely ignore all the prior trendlines that could have been drawn that all would have been broken a dozen times over, only to be replaced by a new trendline when it made it convenient for...

TrueTraderOfficial Updated 

So we finally did it! For the first time in over a year, we broke the lows of the previous month. Always keep in mind that that alone is not enough to cause concern. Remember, it isn’t the pullback itself that matters. It’s what happens afterwards. I’m fully focused on the weekly chart. The first challenge for this coming week is to see if we can break back above...

TrueTraderOfficial Updated 

QuantumScape. I want a shot at buying this around the 24.00 to 24.70 area on a retest. If I get involved in this and it starts working I may have both a day trade AND a swing trade. That 24.50 area is both a monthly pivot as well as a retest of the breakout area.

TrueTraderOfficial

My Level: Short off $140 & $141 Had this monster move from $125. Look where its pushing, right into 50D, 200D and 126D SMA. Looking at a short on $EA at 140 & 141. It’s also a prior support area. Now that its had a $15 move in a short window, I think this will be a good one

TrueTraderOfficial

My Level: Short off $73.50 We have 20D SMA and previous day’s high also I wrote down had poor guidance. Has some nice consolidation on the daily which lines up with 20D SMA. The high today was 73.30 lines right up with the 20D SMA, and I think this could be a real good fade in the morning

TrueTraderOfficial

My Level: Long off $23.70 It has had a 3 down days in a row. Wrote down long possibly off 23.70, you have the 126D SMA as well as the Quarterly pivot down there. Has $1.27 ATR again kind of brings you right into the pocket. I have this feeling that it might have a nice bounce day maybe one more washout, but we’ll see what happens tomorrow or Friday. You can also...

TrueTraderOfficial

My Level: Long off $150.10 You got a 200D, 50D, 126D SMA plus its a big psychological number. I like this name, been doing really well, had a big push up and coming into consolidation right now

TrueTraderOfficial

My Level: Long off $37.85 Took a big hit today, want to be careful tomorrow on it. But I wrote down a long at 37.85, off quarterly pivot and previous support. Has got $4.5 range, that brings right into the high 37s with where its trading in the AH

TrueTraderOfficial

My Level: Long off $69.40 You could see how many times it held this Annual pivot. Let see if there’s a morning weakness. Traded less than a million shares today, make sure you guys adjust your size accordingly. You gotta let the stock what its supposed to do, if a stock has $12 range, 50c stop wont do it