Get started

Highbase

BA FEB24 220/FEB17 225 DIAGONAL CALLHIGH BASE SET-UP Detailed Definition of setup and what market conditions are desirable Ok, so on January the 13th, BA made a new swing high and it's been trading above the 50-day SMA...really since about November 2nd. So as far as trend analysis goes, BA looks like it has more momentum to the upside in the coming months. Detailed Definition of the trigger (entry point) used to enter positions You can say this also has an ascending triangle pattern but I saw this more as a longer than 5 day base with lower or equal volume. I had set an alert for 212.15 using yesterday's high as my trigger. I also wanted to wait until earnings to see the price action. Seems to me as this has a higher probability of it going higher. Detailed Definition used to determine Stops (abandon or adjust) No stops will be used. I'm set up for max loss risking under 2% of my portfolio. Detailed Definition of the methods used to determine targets Let's take a look at the 4 hour chart. Since about November 10th 2022, it's been poking it's head above it until the price action brought it into the upwards channel I drew. So if it trades in this area until the 17th of this month.. then it should come close to my 225 target. But it may even want to jump up to the other channel above it and push to 230, 235, 240 maybe? That's why I went with a diagonal strategy just incase it does take off more. How strike prices and expiration dates are selected If we look at the hour chart I think it may want to slowly trade within this channel to get to 225 by the week of the 17th. Also, this traded in this range of 200ish to 225ish for most of the back half of 2021. So I would think it might want to trade in this area once again. 3 weeks is more than enough time for this trade to unfold. Position management strategies when the stock goes lower If the stock goes lower I'll let the combo expire worthless since I'm set up for max loss. Position management strategies when the stock goes sideways Again, set up for max loss so if it just stays here, i'll let it expire worthless and move on to the next trade. Position management strategies when the stock goes higher This is the outcome I prefer. If this goes straight through 225 and stays above 225 come the 17th, I'll close out the entire combo. That's why I would prefer this pushes up to the higher channel and stays above 225 until the 17th. Position management strategy at expiration Come February 17th, if this is trading below 225, I'll let my 225 strike expire and hold on to my 220 strike until the 24th. The week of the 24th I'll monitor this and close out the 220 strike once it gets to my 225 target.
NYSE:BALong
by MMOTA_
SPY FEB03 405/FEB01 410 DIAGONAL CALLHIGH BASE/ ASCENDING TRIANGLE SPY has been trading above a rishing 50 day and 20 day and has been forming an ascending triangle or high base. It recently made a swing high on January 23rd which I used as my trigger. For the most part, SPY has been consolidating since let's say about the 12th of this month? Consolidating between 390 and 400 equal volume. Since we traded above the high of the 23rd I decided to get into this shorter term trade. No stops will be used as I'm set up for max loss risking less than 2% of my portfolio. I placed an anchored vwap on the daily chart from the high of January 2022. So if we look ay an hour chart, I'm thinking this is going to want to climb back up into the upper trend line I drew to make it's way to 410 or even break through 410. I selected Feb 1st as my expiration date as I would anticipate a run up into the middle of next week into the 410 area or maybe even much higher before it retraces back to the lower levels. I'd be looking to get short in this 410 area or maybe 420 area is it wants to go higher into the end of next week. Maybe up to 430 by middle of February. If this goes lower, I'm set up for max loss so I'll let it expire worthless. If this goes sideways, which could happen because we've been in this sideways trend for a few weeks, I'll let my 410 expire and hang on to my 405 strike until next Friday. If this is well above by the 1st of February, I'll close out the entire combo. But if it is not at or above 410 by the 1st, I'll hang on to my 405 strike until it reaches my 410 target. Once it gets to 410 i'll close out the 405 strike even if it gets to my target before the 3rd.
AMEX:SPYLong
by MMOTA_
WYNN 6 JAN 23 85/ 20 JAN 23 80BULL PULLBACK SET UP: Since about the end of June this year, WYNN looks like its been gaining momentum towards the upside. At the beginning of November, the 20 day crossed over and upward movement continued bringing it back to the upward trend line from the June/July lows and is now high basing with a pull back to the 9 day and area of support at 75ish. The bull pull back brought this stock back to an area of support at 75ish and today it's trading above the previous days candle triggering an entry at 78ish. No stops will be applied as I will be positioned sized for max loss. DIAGONAL SPREAD STRATEGY: Even though the entire market is down today, This stock held up pretty well today which is part of the reason I got in. It likes this 78 area and looking like it wants to break out of here. Because it gapped higher from the previous days high and held up on a down day, it solidified my entry and timeframe. My target was determined by being aware of my higher upward trend line that was also recognized multiple days the back half of July. A couple outcomes I had in mind. My first, is that we break out of this resistance area of 78 within 2-3 weeks. We could possibly base between 75 and 78 this week and then breakout. Second outcome could be that we pull back more to the 20 day or 50 day and test the lower upward trend I drew by.... lets say..... by December 9th or 19th, that would be around the 71 or 72 area and then continue higher between this channel to get to 85 six weeks from today. So if this decides to go against me and fall apart, I'll be set up for max loss and I'll move on to the next trade. If this trades sideways for the next few weeks I'll still have enough time for this to break out. If not, I'm set up for max loss. If this goes higher than my 85 target, I'll close out the entire combo before the 6th. I'll also watch this if this decides to fall back down into the apex of the trade.
NASDAQ:WYNNLong
by MMOTA_
BA 16 DEC 22 190/195/200 BRKN BUTTERFLYHIGH BASE SETUP: For the last couple weeks BA has been basing and consolidating at the 9 day and on Friday it suhed higher and broke out. The overall market is down today and this is still holding up pretty good. My entry point was determined when BA traded above previous highs and closed above the highs Friday. I didn't want to get in Friday because I wanted to see how today played out. Today's price action solidified my entry. I wanna see this run up to that upward yellow trend line by early next week, and then pull back into the apex of the trade. If this continues higher and doesn't come back down into the apex, I'll just close the entire combo and take profits. If this falls back down below 170, I'll be positioned for max loss and risking a little under 2% of my portfolio. I'll update this in the coming days to see where we're at.
NYSE:BALong
by MMOTA_
JPM Nov18 140/Nov 25 136 Diagonal Call High Base Setup: Financials have a +1 outlook this week and JPM has had a nice run higher the last few weeks. It's made it to 135 which was one of my resistance points and now looks like it's basing here in this area. I decided to get in now, even though we need to see a minimum of 5 days basing, just because it's had a lot of good upwards momentum. Either way, it should base here in this area before making its way higher. Not setting up for any stops since im positioned for max loss. My 140 target was determined by going back to the end of March and saw that it based in this 140 area last time. Could be a small supply and demand zone again which is why I decided to put this trade on for a week, worse case I'll have the 136 strike until next Friday Trade Setup: This recently made a new swing high and is currently trading above it's 50-day SMA. Although the consolidation has not yet brought this back to the 9-Day EMA,, I should have waited for it to catch up to the stock. I think I'll still have enough time anyways. The last three days it's consolidated somewhat in a range of relatively equal pivot highs & lows. Volume has been trending down the last 3 days as well. T.E.S.T. So Ideally I'd want this to make it to 140 by late Thursday or Friday to reach its apex. If it pulls back, I'll have another week. My entry was at 135 and have no stop cause I'm set up for max loss. Profit Score: Potential 5.00 ATR 3.16 Score 1.58 Stock Outlook: +1 Trade Management: If this gets' to 140 by Thursday afternoon or Friday morning, I'll close it out. If it pulls back, I'll have the 136 Strike until next Friday. I'll consider a re-entry if it turns out to be a Bull Pull Back.
NYSE:JPMLong
by MMOTA_
Turn and burn? Or 4100?Good morning! Well, the last 4 days we've been in a high base and futures are currently trading lower around 3925ish. Still somewhat basing. Or is it turning over? It already touched the 200 day so now we gotta see if the bulls have any more in them to pierce through it. And that could happen. Last week I had mentioned that the markets like a divided congress. GOP took control of the house. Not by much, but just enough. This could give the markets a reason to celebrate in the short term and could cause the market to pierce through to 4100. That would be like an exhaustion finish or max pain for the bears. With the way these markets have been acting this year, I wouldn't be surprised if that happened. Just remember, we are in a bear market. Plan for today: I entered in a low risk diagonal call spread on Tuesday with the anticipation that we would run to 4100 by EOW. If the markets turn over, I'll just let that expire worthless and enter in a short position. Ideally, I wanna see this run to 4100 and then get short. So, I'll just have to wait and see the price action these next two days. Be patient, stay disciplined, control your emotions, trade the market in front of you. Happy Trading!
SP:SPX
by MMOTA_
Long EthereumA portion of the portfolio has exposure to crypto currencies, both Bitcoin (the most liquid and well known) and Ethereal. In addition to holding cash positions in these currencies, I do like to trade them. The moves are strong and can hold a trend really well. When I'm on the right side of a trade I tend to get a lot of follow through on the trades. I entered in at .0116 after the break above the recent swing high and added to my position at .0123 on a break above an even higher swing high. At this point I'm long but sitting on the position as I expect a little pullback and consolidation before taking off again. That being said, these cryptos can rip and as long as you are on the right side, the potential is alway high. Long and holding, looking for further confirmation of uptrend
by ChrisD_Macro