Swingrtrading
Breakout Trade Setup on a Key LevelThe wedge is almost complete for a breakout trade to happen… and on a key level at that. So when this trade takes off, it's gonna take off. I'm looking for one more large bull rally before we make the hike back down.
But, it depends on if the daily SR will be respected or not.
So, I am looking forward to this move as well this week. Here are the TPs I'm targeting:
BULL TPS:
• 143.418
• 144.227
• 142.031
• 145.626
• 146.988
BEAR TPS:
• 142.320
• 141.469
• 140.757
• 140.234
ABC is at a strong downtrend line resistanceA lot of volume came in on Friday closing as a doji at major resistance. Shorts are most likely hopping on board here. Going down to the 4H you can see there is an ascending triangle.
My plan is to enter above February 7th's high with March $85 calls. Should be a strong momentum move to the upside if volume moves in on a breakout of the downtrend line.
Let's see what she does this week :-).