Trading Watchlist:
1. BIDU – submit a small daily timeframe trading entry tomorrow in regard to BIDU:
2. JETS – JETS almost ready to decline. Ideally, we should still wait for a 4 hour candle to close below the Kumo Cloud on the 4 hour timeframe before making an entry. Keep a close eye on these stock with a similar chart pattern for the next few days (urgent priority).
3. SFM – analysed.
4. COST – analysed.
5. AXP – analysed.
6. UAL – analysed.
7. WMT – analysed.
8. XAUUSD – the price action has turned bullish on the 4 hour timeframe.
9. UVXY – analysed.
10. WBA – analysed.
11. FDX – analysed.
12. INTC – analysed.
13. SOXX – SOXX is ranging on the 4 hour so hold on to your active INTC trade.
14. MU – MU is now ranging as well in light of SOXX.
15. PALL – PALL has made a violent move to the upside, confirming that it has a volatile ranging pattern at the moment.
16. DG – analysed.
17. TIGR – analysed.
18. MARA – analysed.
19. LIT – analysed: ranging.
20. X – analysed: ranging.
21. NATGAS – confirmed breakthrough of the major resistance level on the daily timeframe; therefore, I expect the price to continue rising to 3.40 (the next resistance level on the daily timeframe):
In light of the above, I will submit a long trade using UNG in order to take advantage of the price action movement of NATGAS:
22. UNG
23. USOIL – analysed: ranging.
24. CMG – intriguingly, CMG looks ready to start rolling over (declining) soon on the weekly timeframe. Therefore, continue to monitor this stock everyday in order to keep up with your learning process:
25. DXY – analysed.
26. US10Y – analysed.
Learning Point
- XAUUSD – the daily timeframe does seem to be the best one to use to determine where the price action is most likely to travel to (price levels) in the short-term.
Next Actions
- Monitor the price action of SFM, COST, AXP, JETS, UAL, WMT, and XAUUSD as soon as the markets re-open tomorrow as a priority.
- Submit a small long entry in relation to BIDU tomorrow when the markets re-open.
- Scale into a small long entry in relation to UNG tomorrow when the markets re-open.
