$SPX my plan for my short term swing trade ideas.
today I went short through puts $ALB, $DE, $LULU (lol), $MDB, $PANW & $V
i went long (as a hedge) $TQQQ
yesterday was a better day to go short but the late day rally was pretty big move & market not rational so didn't want to get caught swinging short into a gap up since close was strong. today was some form of confirmation that 50 basis points still not good for short term sentiment (to be long). less than 3% of total acct is in all of them combined so risk is managed, good r:r ratio in my opinion in those names, especially $LULU lol
Tradeideas
Dogecoin Long Price Target ConfluenceDoge on the 4 hour time frame,
I have identified multiple patterns,
(each one is indicated on the chart in different colors.)
These patterns have very similar price targets
Which makes me more confident in potential success of my trade set ups.
Indicators: 200 EMA (red) 50 EMA (green)
The 50 EMA is currently holding down the price, but a break above it should allow the price to hit the top of the ascending wedge (yellow) Which is inline with the 200 EMA (the next resistance)
The patters I found and their price targets are:
#1) Ascending wedge (Yellow)
- Price target: $0.1915
#2) Descending Triangle (Purple)
- Price target around $0.1960
#3) Descending Triangle (Pink)
- Price target: $0.2200
#4) Double Bottom (Red)
- Price target: $0.1890
The first trade could be taken once price breaks above the 50 EMA (green)
- Price target: at the top of the yellow wedge ($0.1540)
- And a stop loss trailing the bottom Support Line (Bottom Yellow line)
The Second Trade:
Enter Long If and When:
- The price is above 200 EMA
- And the Ascending wedge is broken out of (Turning $0.1540 into support)
Stop Loss:
- Under the Support zone: @ $0.1495
Take Profit:
- Between $0.1875 and $0.1960
The Third Trade:
Enter long:
- once $0.19 is broken and becomes support
Stop Loss:
- $0.1795
Take Profit:
- Between $0.2150 and $0.22
Not financial Advice
Please leave a comment if you have anything to add, I would like to hear your thoughts.
$V Swing IdeaSwing Idea For 4/13
downtrender, taking break of previous day low & contiuinoation short (through puts)
under 210.5 202-205 possible, rolling up portion of profits if breaks below 200 (thats another trade idea)
*only valid if market ($SPY in this case) keeps pushing down/red
#options #optionstrading