Ideas for 10/9

9 окт. 2020 г.

DISCLAIMER: In my trading style/system I take very short term trades, and am often just scalping very high confidence moves (usually trying to buy breakouts minutes before they happen). I never hold anything overnight, and I'm usually done trading for the day before noon. If this is far from your trading style take these with a grain of salt, but hopefully some people find these helpful, I would still consider all of these short-term bullish set-ups. There's a good chance I end up taking none of these trades based on price action in the morning. I trade using 1) Price Action, 2) Sector/pairs momentum, 3) TTM_Squeeze. If you want to learn more about the squeeze indicator, check out this video by the guy who invented it: youtube.com/watch?v=4gdA-d1IhRE

Here's my a couple of my favs for 10/9, there's actually shitload of great setups rn imo. Unfortunately it is Friday so max pain will be something to take into consideration on every setup:




UPS is a very high confidence play for me here for a couple reasons. First, technically it's exactly what I look for: daily squeeze firing and breaking out, now forming a sym triangle and squeeze on the 30m, which tends to imply continuation of the breakout. What makes this even better is when we compare it to FDX (the red line on the 30m chart), you can see over the past couple days FDX has been outperforming, and now UPS is in that 30m squeeze. I've found that when you have a pair of stocks like this that trade closely together, and one is making strong moves in one direction and the other is in a squeeze, it's very likely the squeeze fires in the direction of the opposing pair. Max pain is 170 so it may not play a role tomorrow, but there is heavy call OI at 175 so I could definitely see a situation where we get pinned at 175 tomorrow and gap up over the weekend.



PEIX is still one of my top plays here. We got a little move up but hit resistance at the highs of the sym tri, and have now developed into a nice little ascending triangle, and our cute little 30m squeeze is all grown up and has developed into an hourly squeeze. Also this doesn't have weekly options so don't need to worry about max pain here. With the great consolidation today I'm definitely looking for 9.5, and I'd be surprised if this eventually didn't tap 10, especially looking at the resistance on the long-term chart.

Here's my full watchlist for tomorrow, from best to least best (these all look fucking amazing imo):
UPS
HBI
IIPR
PEIX
LAC
CRM
MOS
PLUG
FSLY
ENPH
ELAN