Last week we put out trade ideas for $AMZN, $M, $GOOGL and more!! In this post we will break down all the trades, provide links on where to find them, and show which prices we are setting alerts at on our trading broker so that we can be ready to take these trades!!
We find and play these trades using a Technical Analysis Strategy that we teach as part of our 8 Class Charting 101 Course. Every Thursday at 5PM EST we go over all these trades live in our discord!! We also update when these trades hit entry, targets and stop losses in an exclusive channel in the discord!! This channel, stream and educational course is all included with our premium membership. However we also post all the trades right here on our Free Trading Blog and Twitter.
$M Macy’s: Click here for Full Breakdown
If we don’t get a dip from here, we could look for a $21 entry for a continuation play. This means entering upon a strong break above $21, or upon the confirmation that $21 turned from resistance to support. Targets would be $23 and $25 with a Stop Loss below $19.50.
If we do get a dip from here, we could play off the support at $16.50 This means entering upon a bounce off of the $16.50 support level, or upon a successful retest of $16.50 as support. Targets would be $18.50 and $20.50 with a Stop Loss below $15.25.
$AMZN Amazon: Click here for Full Breakdown
Option 1: Wait for the price to drop below $138.36 support level. Then enter once we get a 4H candlestick close back above $138.36
Option 2: The next support level we are watching is $130.02. If the price drops down past $138.36 and then keeps going down, our next option is to wait for the price to drop below $130.02 then enter once we get a 4H candlestick close back above $130.02
Target: We are watching the $177.61 resistance as a target area, making that a 28%-36% profit potential. Depending on your Risk:Reward strategy, it could be advised to take profits along the way and set a trailing stop loss to ensure profits.
Stop Loss: "If Amazon closes back below this weekly 50 EMA, that could spell trouble and I would be OUT!"
$GOOGL Google: Click here for Full Breakdown
Entry: Break Above $135
Target: $150+
Stop Loss: Below $124.50 Support
$NFLX Netflix: Click here for Full Breakdown
Entry: "For that higher low, simply look at either $440 or $410 as important levels. Again, no blind orders:"
Option 1: Wait for the price to get below $440, then enter upon a 4H close above $440.
Option 2: Wait for the price to get below $410, then enter upon a 4H close above $410.
Target: 485+
Stop Loss: You can either set a percentage based stop loss that fits your plan, or use the 50 EMA as a guide.
$UBER Uber: Click here for Full Breakdown
Option 1: If UBER breaks above the all time high at $64.05 and then gets a 4H candlestick close below $64.05 we could enter a bearish position looking for $48.85 as a target.
Option 2: Wait for UBER to get below $50, then enter a bullish position once we see a 4H candlestick close back above $50. Targets could be $64.05 and $80+
Option 3: If we break and hold above the high of $64.05 we could enter and look for targets at $88+ over the coming month.
$COST Costco: Click here for Full Breakdown
Option 1: Enter a short/bearish position once it hits a fibonacci resistance level and shows bearish confirmation ($684.42 or $788.62). What this means is waiting until the price breaks above one of these levels, and then has a close on the 4H chart below that level for entry.
Option 2: Enter a short/bearish position once the previous all time high ($612.27) gets flipped from support back into a strong resistance. What this means is waiting until we see a confirmation that $612.27 is a resistance level again.
Option 3: "I personally wouldn't buy this currently up here at $660 while the first main target is only about $25 higher. Lots of people are going to get torched on this ticker not waiting for confirmation." One could wait until the price breaks and holds above $684.42 for a continuation play to $788.62.
$MCD McDonald’s: Click here for Full Breakdown
Bullish entry once the price breaks and holds above $287.60 with targets at $293 and $300 and a stop loss at $283.
If the price breaks down below $285.60 we are looking to short this with targets at $281.85 and $275 with a stop loss at $288.80
This blog was written 12/08. Bullish Entry happened 12/11. Target 1 hit 12/13. It was advised to take profits due to all the Fed Related meetings last week. We are back in between our bearish and bullish entry, so can play this one again.
Make Sure To Check Out This Week’s Overall Market Weekly Watchlist
