Trading Watchlist:
1. COST
Take 50% profits out of COST trade as the price action has blown past your take-profit level. Now, expecting the price action to retrace back to “the scene of the crime” (see yellow brush mark above) before resuming its decline.
2. DG – analysed.
3. UAL – analysed.
4. JETS – analysed.
5. NATGAS – analysed.
6. UNG – analysed.
7. WOLF – analysed.
8. RUT – analysed.
9. US10Y – analysed:
10. TLT – analysed:
Start scaling into TLT short position as soon as possible because the US10Y appears to be rising as anticipated.
11. UVXY – analysed:
The Stochastic RSI on the 1 hour timeframe appears to be a great indicator for anticipating when the price action of UVXY is most likely to decline or rally hard.
As a result, wait patiently for the Stochastic RSI to enter the oversold position before considering whether to enter another UXVY long trade.
Next Action
- Exit COST short with 50% profit as soon as possible.
- Start scaling into TLT short position as soon as possible.
- Wait for UVXY Stochastic RSI to enter the overbought position on the 1 hour timeframe.
- Watch today’s trading “Weekly Wrap-Up”.
