Top of Mind - A Few Trading Ideas

A Few Swing Trade Ideas

As you well know by now, I use the charts guide my trade decisions. Sometimes they play out and sometimes they don’t. That’s the name of the game. This is why risk management is so critical. Cut losers quick. Hang on to winners.

Well, it’s time for me to sell one I talked about on October 7th when it was trading under $4.50. Read it here.

WULF

🔶 THEN

🔶 NOW

Could this break through the double top chart pattern and rip higher? Of course. But the chart tells me we have some resistance. I’m taking the money and runnin’.

NYCB

This is one I’ll be buying on the breakout of resistance (blue line, red arrows). You can play the range or play the breakout. Either way works, clearly. How will you know if you’re wrong?

…a break BELOW the support line…

EASY.

How far could it run if it breaks the upper resistance? (Zoomed out)

I’ll let you do the math.

Another one I’m watching…..

WOOF - Bearish to Bullish Reversal

• Long downtrend - BEARISH

• Turning, now above up sloping 150 day moving average

• Starting an uptrend? - BULLISH

• HUGE buy volumes (two green arrows)

Let’s zoom in a little bit….

You can see the clear trading ranges after each breakout upthrust.

We are currently in Zone 2 on the chart below. I’ll be entering on the break above Zone 2 for a much higher breakout.

If price falls back into the prior zone…….I’m OUT. I love clearly defined support and resistance zones.

That’s all for now.

Thanks for reading,

Eric