ICHIM0K0

Favs for 10/8

Long
NASDAQ:PEIX   PACIFIC ETHANOL INC
304 views
5
First I want to preface this that 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: https://www.youtube.com/watch?v=4gdA-d1I...

With that said, here's a couple of my favorite plays for tomorrow.


NASDAQ:PEIX : I don't know what this is but it's running regardless of the market. This is one of my favorite kinds of plays, 30m squeeze and sym triangle at the top of a breakout (195m squeeze still firing), very high likelihood this 30m squeeze fires long continuing the breakout. Could be a huge move, could be a small move, but very high likelihood of a move. Ideal spot to take profits is the 1.236 retracement (9.36), but would love a move to 9.5. Watching these levels for resistance: 9/9.16/9.36/9.5 (fib levels drawn off the triangle)


NASDAQ:DOCU is getting ready to break out of this daily squeeze. This chart looks a lot like CLOU SKYY did before they brokeout, so the future looks bright for DOCU . Nice potential to eventually gap fill to 260.


Here's the hourly squeeze and little triangle I'm looking at for tomorrow. Admittedly the triangle is rough but I still like the shape of the consolidation here, also 30m squeeze going on. Another day or two of chop/consolidation is totally possible (as with pretty much every squeeze play), but this looks pretty close to ready. 229.5 is big resistance, but after that this could run to 240, a little uncertain on an exact target.

Other setups I'm looking at for tomorrow:
TCOM
IAA
SPOT
LTHM
BABA
DUK / AEP /all of XLU
DG
MTCH
SQ
LB

and still watching ZM NIO every day

Any questions feel free to hmu/ dm me :)

Comments

I like the colors of your chart.. very elegant set up!
Reply
Thanks man. Very nice analysis. Your trading style sounds so much like mine. And DOCU is one of my all time favorites. We are in a highly volatile time. Scalping and not holding positions overnight is really the way to go. And thank you for sharing your watchlist. I look forward to your future analyses.
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