Trading Watchlist
1. UNG
Take full profits out of UNG as soon as possible, for the following reasons:
(1) NATGAS is approaching a major support level on the daily and weekly timeframe after a tremendous decline.
(2) due to taking profits throughout UNG’s decline, I have got to a point where partial profits can no longer be taken out of the trade.
2. QQQ – analysed: tech market is rising to the centre of the parallel channel as anticipated.
3. BTC – analysed: expecting a pull back at some point before any further rise as BTC seems to be leading the overall stock market.
4. SPY – analysed: broader market rising to the centre of the parallel channel as anticipated.
5. RUT – analysed: market rising to centre of parallel channel as anticipated.
6. US10Y – analysed. The yield is currently in a area of congestion so we have to wait and see which way it decides to breakout.
7. TLT – analysed.
8. UVXY – analysed.
9. BIDU – analysed.
10. FFIV – analysed.
11. SAP – analysed.
12. HOOD – analysed.
13. DECK – continue to monitor DECK closely for a great shorting opportunity if the broader market starts to decline again.
14. SFM – analysed.
15. IWM
Exit IWM short trades as soon as possible for the following reasons:
(1) overall broader market is now in an upward trend, and
(2) the price action of IWM is likely to rise to the centre of the parallel channel (at the least) before any possible pullback.
16. JETS – analysed.
17. UAL – analysed.
18. GFI – analysed.
19. COST – analysed.
20. USOIL – analysed.
21. USO – analysed.
22. BABA – analysed.
23. TIGR – analysed.
24. DG
Take full profits out of DG as soon as possible. This is because the Ichimoku is revealing that there is likely to be increasing selling pressure on the weekly timeframe at its current level, to the extent that the price can collapse by more than 20% as it has done before (backtesting).
Next Action
- Keep a close eye on NATGAS every 4 hours for a possible long entry on the 4 hour timeframe.
- Continue to monitor DECK closely everyday for a great shorting opportunity.
- Exit IWM short trades as soon as possible.
- Take full profits out of DG as soon as possible.
