SPY - potential support at $215. Looking for that level to hold up so that my long trades have market support. If that breaks down or if $216 holds as resistance I'll take UVXY long.
MGT - support here is at $2.20 so I would like some type of pull towards here to take a long as I would like to go in with a bit more size on my initial buy. I'll look for a dip to the mid-high $2.20s to break through $2.40 intraday resistance for a potential run over $2.50. Will take profits at $2.75
NVAX - the $1.70 resistance was broken today as this stock looks to start filling the gap from the major gap down that occurred last week. I don't think we see a pullback all the way down here especially if the market continues yesterday's move, so I'll look to enter at $2 risking $.10-.15 to the downside for a potential move through the after hours high of $2.30.
NUGT - with some more help from the market we will see a $22.50 break with volume that could return this stock to $25.Would like to get an entry at $22 risking $.50 to the downside for the breakout.
ACIA - looking for the $120 break out for this to head up towards $125 continuing the big move today. This is another play that is solely dependent upon market strength but I am better at charting the night prior on many charts and being able to play them intraday at multiple levels rather than just one. Would like this to pull to $116.75 for the entry with a risk to $115.50.
Patience seems to be the name of the game for me, so I am really trying to focus on letting stocks prove that my chartwork was worth the effort rather than entering randomly and getting stopped out at a random point in the chart. This is a problem I had in my first few months of trading and I see I am still trying to fix it. I have gotten better with my stop placement and points of exit if the stock decides to go against me, but I often still enter randomly as if I am trying to scalp the position but risk way too much if that were actually the truth. Seeing my charting work out but not acting in accordance really proves to me that trading is all about mental discipline. I am very excited to be progressing and with a few more green weeks I will most likely fully fund an account and start trading 5 days a week with my retuned strategy.
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