The Weekly Commerce Plan: High Inventory Concepts & In-Depth Execution Technique – Week of November 4, 2024 | SMB Coaching

Merchants,

It’s election week, so right here’s my recreation plan and changes for the week forward, together with my prime commerce concepts with entry and exit targets.

As a result of election on Tuesday the fifth, this week’s watchlist might be completely different. Like final week, I’m focusing much less on swing trades and extra on intraday momentum buying and selling till the election passes.

Whereas final week’s watchlist had sturdy accuracy, your important takeaway ought to be to reverse engineer and examine profitable setups to higher perceive my methods and key variables. That’s the aim every week—that will help you refine your buying and selling expertise.

Listed below are my prime focuses and concepts for the week, together with election situations and particular person performs.

Promote the Information in DJT

The Plan and Thought: This was the highest alternative of final week, as outlined and mentioned within the earlier watchlist and in nice element in Inside Entry. As I discussed, that is merely a proxy for the election, whereas nothing essentially has modified for the corporate. 

Because of this, one of the best alternative and situation for me is that if the inventory gaps into main provide between $45 – $55 on a Trump win. Or maybe will get chased even greater within the early hours of November 6. In both situation, I’d search for a fast, short-lived hole and push greater, adopted by vital promoting and notable heavy worth motion. I’d must see early affirmation of a sell-the-news occasion. 

*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.

In the end, I’d place quick versus the HOD as soon as momentum shifts and I obtain worth motion affirmation, concentrating on a LOD shut and doubtlessly sustaining a core place as a swing, so long as the inventory doesn’t reclaim its VWAP after making new decrease lows on the day. If Kamala wins, DJT will considerably hole down, so there will not be a commerce for me, as I’d not chase it. The inventory would want to bounce considerably for a brief entry. Nonetheless, I’d keep away from it on this election consequence as the chance reward might be diminished. 

Ideas on Bitcoin (IBIT)

Vital failed breakout proper now in Bitcoin, as threat comes off and Trump’s odds have weakened. On a Trump victory, IBIT and related bitcoin-related inventory would possibly catch the attention of a possible swing lengthy ought to worth motion agency up on the information. Ideally, in that situation, I wish to see a spot greater briefly pull again to earlier resistance and ensure it as newfound help. That may get me to place lengthy for a swing.

*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.

Nonetheless, given the current worth motion, I view momentum quick trades as higher threat: reward. For instance, If MSTR continues to search out provide and reject close to $250, I’d be targeted on quick positions versus the HOD, concentrating on new lows and solely shifting my bias if the inventory made the next excessive on the hourly timeframe. No pre-set plan or bias given the election. I’ll monitor flows and worth motion and stay versatile.

*Please be aware that the costs and different statistics on this web page are hypothetical, and don’t replicate the affect, if any, of sure market components similar to liquidity, slippage and commissions.

Further Names on Watch:

Amazon: Dependant on the general market’s route this week. I’m solely within the inventory for reactive trades across the all-important $200 space of resistance. I’ll enter lengthy if the inventory can base above $200, show relative power, and better lows intraday. If we push again into this and the affords stack and refresh, I’ll scalp it to the quick aspect once more. 

Carvana: Good profit-taking day on Friday. I’ll have alerts for a transfer towards its 2-day VWAP and $240 space. If the inventory fails to comply with by, I would think about a brief versus the HOD for additional profit-taking. 

VKTX: Consolidating above its earlier resistance coming into Weight problems Week, the place the corporate will current. Must see the response to that and whether or not the inventory begins to base close to the $78 – $80 resistance for potential momentum greater.

SMCI: On shut look ahead to potential breaking information alternatives off contemporary headlines. 

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Vital Disclosures