Looking heavy, clear stop loss, profit targets in chart
Level 2 has like nothing on the sell side. I Took the final offered at 7.3 (probably a lot of re stacking to come) with a SL at 6.6
Setup: Flag Catalyst: Oil Well Deal Daily Chart: Bullish Entry Quality: Good Notes: After being chopped up over the last few days, I took this last breakout trade on a super bearish day, HCD ended up 28% so there must be some serious interest in the recent news.
Trade plan in Chart. Episodic Pivot, REITS doing very well lately
A+ Setup Flag Break with catalyst related big volume gap and strength all day during a weak day on the over all market SL Days low: $3.50 T1: 3XR = $4.50 OR after 3-5 Days Move SL to entry price T2: Close below 13 day EMA OR 50% ($5.80) T3: Close below 26 day EMA
Setup: Bounce then Flag break Catalyst (If any): Quad 3 (Gold/Energy in favour again) Risk: $30 Reason for SL location: Below Flag Profit targets: T1 = $210 below key Volume profile and 3 X R. T2 = $2.85 next major resistance Comments: Price and Volume picking up after dropping to near covid lows! Not sure why it had sold down so hard but a government...
Setup: Short lower high Catalyst (If any): Economic data slowing Risk: $30 Reason for SL location: above recent peak. A break above would disprove technicals Profit targets: T1 = $40.30 (Recent support/old resistance and 3 X R) T2 = $39 Key Volume Profile level Other comments: ARB is up 330% from the Covid lows. The reflation trade seems to have run it's course...
Setup: Short at Resistance Catalyst (If any): Economic data slowing (Hedgeye quadrant turning to 3 - Stagflation) Risk: $10 Reason for SL location: above all time high Profit targets: $28
Gold price on the rise, RSG producing gold at half the current price, looking for 1:5 RR
MLD is a mining and civil construction company who should benefit from the government stimulus. 80 cents seem to be a strong level and it has recently broken a down trend.