Sunday 11/21, another #SundaySwing post into December with the ideas the developed during the last week.
We also have a short week, markets are closed on Thursday, but open on Friday after Thanksgiving, so if you’re in weeklies pay attention!
First, a quick update. I try to also record my #SundaySwing ideas as a video and post it on Youtube on Sunday evening for your viewing pleasure. Overall I got great feedback and it seems like, you like it. So I will try to continue with this.
Disclaimer: No advice, instead these are my ideas based on my knowledge analyzing the charts for possible swing trades based on #TheStrat. So please always do your own due diligence before entering a trade.
Chart setups
Since I got some DMs about the colors in my charts and the setups:
- I always chart in multiple time frames Monthly, Weekly, Daily, and 4-hour or 60min
- Purple lines last months high&low
- Orange lines last weeks high&low
- Blueish lines last day high&low
- Green lines are my targets
- Sometimes white and yellow for intermediate targets or 50% rule setups
Outlook
As always lets have a look at $SPY and $QQQ for a rough prediction of what I think the market will do next. Or course it’s just my interpretation and I was wrong on the bearish outlook beginning of November, but it helps me write this down here for later reviews.
Remember we are at ATH, so exhaustion risk is a heavy player here and can reverse the trend up.
Options and Expiration
As mentioned above and in my post of October results shown, I go at least 3-4 weeks (12/17 is currently my preferred one) out with expiration on options and not to far OTM if possible. I also trade on a small account and if an option is to expensive for my risk management, I simply don’t trade it. Because, profit is not guaranteed and everything can be lost on those options.
Profits and Stops
I usually target around 25-40% of profits on those swings and decide during the market hours if I leave a runner on a position or close the entire one.
Swing ideas
Would love to get some feedback about this format here and if this helps you learn #TheStrat, as well as I’m open for any things that will help more. To view the charts in full detail, click to open them in a new browser window
Only 3 tickers this week, there are of course more, but most of my favorites trading at or near ATH and there is always exhaustion risk and also no targets that can be taken out, so that makes it difficult to aim. Also be sure to look at the bottom of this post to see my previuos #SundaySwing ideas which some of them are still valid and can trigger.
$UBER 12/17 50c > 46.66
Not sure how $UBER will open on Monday after news from the weekend, but still looks ready for some movement after being nearly flat the last 2months.
I’m eyeing for a 3-1-2 Bullish Reversal W after two inside weeks, with a slightly bearish structure. Break of 46.66 and first target 47.65 would maybe continue the movement into December above 48.88 for a 2-2 Bullish Reversal M with my target at 52.03.
$TXN 12/17 200c > 195.25
Semi constructors were strong thanks to AMD and TXN held up strong even after AMAT ER miss last week. No ER for TXN this year, so the 12/17 200c is my choice if we break a rare triple inside week setup above 195.25. FTFC is already bright green, however Month is still inside and $TXN needs 202.26 to break this, with only one week in November left. So 12/17 as well, to getting into a possible 3-1-2u M.
$BEKE 12/17 30c > 25.98
The beauty of #TheStrat is, that I don’t know anything about a company, like $BEKE. I look at the chart and see an inside week and FTFC up. A break of 25.98 would be a 2-2u Bullish Continuation M, while I don’t like continuation plays a lot this one looks tempting to me and the 29.66 would be the next target if 25.98 is taken. However, after that 1st target, the next is 38.19 which seems unlikely to me. A 1/22 30c would also by a choice if the 25.98 isn’t taken next week and in first week of December to buy some more time.
Older #SundaySwing ideas
Please also have a look at my previous #SundaySwing ideas which still have some setups (as time of this writing) for a possible entry for me.