Key Trade Setups for the Week: Top Entry & Exit Strategies
Summary
TLDRIn this video, the speaker shares top trade ideas for the upcoming week, focusing on strategies, entry points, and exit targets. Key trade setups include potential pullbacks in Luna, measured continuations in SMMT, and reactive trades in Nvidia. The speaker also discusses ideas involving large-cap stocks like Google and XBI. The video emphasizes the importance of precise timing, risk management, and identifying market shifts. Additionally, the speaker highlights the competitive nature of professional trading and invites viewers to a free training session to potentially join SMB Capital's trading team, even for traders without prior profitability.
Takeaways
- 📈 The speaker is sharing their top trade ideas for the upcoming week, with a focus on potential trade setups, entry, and exit strategies.
- 📉 One idea on the watchlist is Luna, where the speaker expects a potential pullback due to an extended price action and nearing exhaustion of shorts.
- 🧐 The plan for Luna involves looking for a price break above Friday’s high, with specific entry points and targets based on price action and volume signals.
- 📊 The speaker is also tracking SMMT, looking for a continuation after a pullback, with an ideal setup around breaking Friday’s high and targeting higher price levels.
- 💹 Nvidia is highlighted as a great stock with a tightening range, providing a potential opportunity for a breakout trade above the 50-day SMA.
- 🏦 The speaker is keeping an eye on Alphabet/Google for a pullback and consolidation, aiming for a potential position after the stock resets near its 5-day moving average.
- 📉 The biotech sector, represented by XBI, is of interest due to its sensitivity to interest rates, with a focus on breaking through key resistance levels.
- 💼 The speaker also mentions shorting opportunities in smaller stocks like Leafly and GX, with specific entry and exit strategies based on price action and volume patterns.
- 💻 The speaker emphasizes that elite traders at their firm work intensively to develop trading skills and achieve success, contradicting the popular notion of quick and easy trading profits.
- 💡 The speaker invites ambitious traders to participate in an online presentation, offering an opportunity to join their proprietary trading firm and trade using firm capital without risking personal funds.
Q & A
What is the primary purpose of this update?
-The purpose of the update is to share several top trade ideas for the upcoming week, including the reasoning behind the ideas, ideal entry and exit points, and target price ranges.
What is the first trade idea mentioned?
-The first trade idea is focused on Luna, where the trader is looking for a measured pullback after Luna's price surged over 100% since early August. The idea is to anticipate a momentum shift as shorts get exhausted and the price reaches extreme levels.
Why does the trader disagree with the initial setup on Luna?
-The trader believes that while the price had moved significantly, it hadn't yet extended far enough to justify a pullback being the most likely outcome. They felt that the bearish sentiment wasn't extreme enough at that point.
What is the plan for trading Luna?
-The plan involves waiting for the price to break above Friday's high, signaling that shorts have hit their breaking point. Once this happens, the trader would look for an outlier volume spike followed by a downside move, and target support levels at 8 and 6.
What is the trader's idea for trading SMMT?
-For SMMT, the trader is looking for either a break above the 5-day moving average for continued momentum or a quick washout below 24, followed by a reclaim of that level. The target is an ATR move near 28 and potentially up to 30.
What is the strategy for trading Nvidia?
-The strategy for Nvidia involves waiting for the price to break out of its tightening range, which is currently near its 50-day SMA. The trader plans to go long if there's a breakout above 120 with a stop below the breakout level, targeting 125 as the end-game profit level.
What large-cap stocks are mentioned as potential opportunities?
-The trader mentions MU and Google (Alphabet) as large-cap stocks worth watching. Both are showing momentum shifts, with Google continuing to offer pullback and consolidation opportunities for future trades.
Why is XBI considered a focus for trading?
-XBI is a focus because it is sensitive to interest rates, and the trader sees potential for a strong move due to its multi-year consolidation and the recent 50-basis-point rate cut.
What is the plan for shorting small-cap stocks like Leafly and GXAAI?
-For small-cap stocks like Leafly and GXAAI, the plan is to look for potential shorting opportunities if there are pops in the price. The trader is looking to short these stocks if they push towards resistance levels and fail, targeting a move back down towards lower levels.
What is the main takeaway from the trader’s mindset and approach?
-The trader emphasizes the importance of flexibility and adaptability, acknowledging that new opportunities can arise daily. They prioritize setups with strong expectancy and are continually adjusting their watchlist based on changing market conditions.
Outlines
📈 Trade Setup Ideas for the Upcoming Week
This paragraph introduces several key trade ideas for the upcoming week. The speaker outlines a detailed approach, focusing on the rationale behind each trade, entry/exit strategies, and target points. First on the list is a reality check in Luna (LNR), which has surged over 100% and is nearing an overbought situation. Despite expecting a potential pullback, the speaker outlines the plan to wait for a specific price action before entering short trades, particularly if there’s a large-volume candle followed by a downward move.
🚀 SMMT: Potential for Continuation
The speaker shifts attention to SMMT, analyzing its recent momentum driven by potentially fundamental news. Following a measured pullback, the plan is to monitor for a breakout above the five-day high or a wash below 24 followed by a recovery. If price strength reclaims important levels, the speaker aims to target an ATR move towards 28, with the ultimate goal near 30.
💻 Tightening Action in Nvidia
Next, Nvidia is discussed as a strong stock with a tightening range at its 50-day SMA, offering a favorable risk/reward setup. The speaker plans for a breakout trade if the range contracts further and price breaks above resistance near 120. They will enter on a momentum move, with stop placement either below the breakout or at higher lows intraday. Profit targets are set at 125, with the trade managed intraday.
🧠 Momentum Shift in MU and Updates on Google
This paragraph revisits a momentum shift in MU, with plans to trade if price moves above a key level. Additionally, there’s an update on Google's recent continuation and bounce, which was reviewed in detail in a previous meeting. The speaker discusses the potential for a pullback towards its 5-day moving average for another entry, depending on price action during consolidation.
📊 XBI and Sector Sensitivity to Interest Rates
XBI is highlighted as a top focus due to its sensitivity to interest rate changes and multi-year consolidation base. The speaker is waiting for a breakout above its 52-week high (103.52), which would signal buyer strength and warrant a trade. Until then, the speaker remains cautious, observing the area for potential conviction from buyers.
💡 Small Cap Short Opportunities: Leafly and GX
The final trade ideas include short setups for small caps Leafly (LF) and GX. Leafly is being watched for a potential push into the 280s or 3.00 before shorting against the high of the day, targeting a move back to 2.00. Similarly, GX could experience a secondary squeeze on Monday toward the 3.00-3.50 range, where the speaker would consider shorting aggressively back down to the low 2s.
💼 SMB Capital’s Competitive Trading Environment
The speaker introduces SMB Capital, a top proprietary trading firm known for training elite traders, some of whom make seven or eight figures annually. Emphasizing the rigorous environment where traders work hard to continually improve, the firm offers both in-house and remote trading opportunities for ambitious individuals who want to trade using the firm’s capital.
🎯 Free Online Presentation and Interview Opportunity
In the closing, the speaker promotes a free 1-hour online presentation that explains how ambitious traders can interview with SMB Capital, even without prior profitability. The firm looks for individuals who fit their culture, offering the opportunity to trade the firm's capital and receive top-tier training and resources.
Mindmap
Keywords
💡Trade ideas
💡Entry and exit scenarios
💡Pullback
💡Momentum shift
💡Consolidation
💡Support and resistance
💡ATR move
💡Reactive trade
💡Volume and extension candle
💡Small caps
Highlights
Sharing top trade ideas for the upcoming week, including reasoning, ideal entry and exit scenarios, and targets.
First idea involves a pullback in Luna (LNR), which surged over 100% after breaking out in early August above its 200-day SMA.
Shorts are nearing exhaustion in Luna, signaling a potential momentum shift, but the speaker disagrees with this setup as an A+ opportunity.
The speaker is waiting for a volume extension candle to indicate a potential short entry in Luna, targeting a move to $6 or $8.
Next idea involves continuation in SMMT after a reset in price action following a fundamental news-driven surge.
SMMT plan includes waiting for consolidation to create a cleaner resistance zone and entering on a breakout above Friday’s high.
Nvidia is the third idea, focusing on reactive trades as the stock’s range tightens near the 50-day SMA, creating a skewed risk-reward opportunity.
Nvidia strategy involves entering a breakout trade above $120 with stop below the breakout level, aiming for a $125 target.
Mu (Micron) shows a double bottom forming, signaling a potential turning point in momentum, similar to Google.
The speaker emphasizes Google’s continuation and bounce after a detailed review in an inside access meeting.
XBI (biotech sector ETF) is highly sensitive to interest rates and has been consolidating in a multi-year base, with a key breakout level at $103.52.
Leafly (LFLY) is a potential short opportunity if it pushes toward $3 but fails, targeting a move back down to $2.
GX (GX Acquisition) is another small-cap pump-and-fail candidate, with a short setup targeting a return to the low $2s.
Speaker provides bonus large-cap ideas, emphasizing the importance of adapting watch lists based on new names and changing setups.
Encouragement for traders to share their own watchlists and ideas, creating a collaborative environment.
Transcripts
traders in this update I am going to be
sharing several of my top ideas for the
upcoming week specifically I'm going to
be sharing the why behind the potential
trade idea and my ideal entry and exit
scenarios and targets so let's get right
into it so the first idea on my watch
list is a reality check in Luna all
right looking for a measured pullback in
L NR TI a l NR so the idea what is the
idea
here look up well over 100% um after
breaking out back in early August above
its 200 SMA um and nearing a turning
point here as price reaches fairly
extreme levels um almost over an 80 RSI
um nearing a momentum shift as shorts
exhaust and price gets extended however
not quite there yet um I did disagree
with this setup and opportunity and idea
coming into Friday being categorized by
mania's A+ opportunities why simply put
I just I just didn't think that price
had extended significantly enough um to
the point where a significant pullback
became the most likely outcome and you
had that scooter scroll that didn't
exist yet for me but ideally that
extreme bearish sentiment that exists
and has existed for multiple days now
will result in that A+ setup and ideally
a blowoff parabolic move now um what is
the plan Here For Me So the plan is I'd
really like to see price break above
Friday's High I'd love to see us push
above Friday's High um and ideally you
get that skip skip action of you know
big ticks come some bigger ticks um
signaling that shorts have finally
reached uh you know their Breaking Point
their threshold Line in the Sand um and
once that exchange occurs um you know
that's often signaled by an outlier
volume and extension candle um and then
an engulfing move to the downside and
lower confirms the backside that's when
I'd be looking to get short versus the
high of day or the previous uh lower
high after bull DRP um with support of
eight and then six with support of eight
and then six being my targets if we go
down to a lower time frame you can see
coming back into previous breakdown and
potential support Zone and then the
previous area of resistance which is now
turned into potential support for a
pullback six so targeting those two
areas um as profit targets smmt is the
next idea looking for continuation in
smmt if we zoom out um overall uh
obviously this was fantastic potentially
you know arguably fundamentally changing
news um that resulted in uh the runup
here in mmt um which has now been
followed by a really nice measured um
pull back and and really just reset a
price action um so the idea here is
looking for a break back above that 5day
um and for momentum to continue to the
upside So the plan the plan would be
ideally we get another day or so of
consolidation um setting up a cleaner
era of resistance um uh in which case um
would be a reactive trade if we broke
above that um alternatively we get a
wash uh below 24 um early this week we
get a quick wash below 24 and then
immediately uh reclaims that area um and
tests Friday's High confirming a higher
low and that's when I'll be ready to get
long for a hold uh near or above
Friday's high with a stop low of day um
and should that relative strength and
price action unfold as planned and
really provide that clean entry I'll be
targeting an ATR move uh which would put
it near 20 8 um followed by kind of a
end end game Target of around near 30
for me um and then we have tightening
action in Nvidia zoom out again onto the
daily um really straightforward reactive
idea here in Nvidia which is obviously
just a great stock has been a great
stock all year to trade um and
considering its tightening range um
right at its 50-day SMA the contraction
in the range uh just allows for a skew
to risk award if the range continues to
contract before picking a Direction
finally um and so the plan obviously is
just a reactive trade very
straightforward if the range does
continue to contract for another day or
two uh followed by a breakout in price
and volume of course um above resistance
above
120 I'll just be longing that breakout
momentum entry on the breakout stop uh
below the breakout level if you got a
nice clean consolidation break intraday
that aligns across multiple time frames
um on at that 120 area as well um
alternatively a high or low stop
depending on the setup intraday of
course um but after that uh you know a
trade like this is just simply going to
be managed more intraday focused uh
higher lows on A5 minute time frame to
use uh as a trail um and then taking
profits on extensions on higher highs
extensions from vwap um essentially
targeting 125 uh previous uh support now
turned into potential resistance on a
bounce so 125 end game Target and then
just a couple bonus uh large cap ideas
as well before we go over to small caps
and from last week's watch list double
bottom still shaping up very nicely and
obviously we have a clear potential
Turning Point momentum shift in mu now
going forward so if we can get back
above that level same plan as last week
fantastic follow through in alphabet and
Google uh since I I last spoke about it
um really nice continuation and bounce
uh as this is one I discussed and really
reviewed my trading in great detail in
the inside access meeting um so for
those of you that joined um and and
missed that meeting go back have another
listen and um and and and check it out
to to be able to really dissect this
play and understand what my thought was
um it remains a focus for a pullback
consolidation going forward as well if
we're able to pull back towards its 5day
consolidate uh reset breathe a little
bit and then I'd look uh to potentially
add or initiate a position depending on
what I've done up until that point um
but I think we'll offer another
opportunity xbi xbi is another one um
xbi it's definitely a top focus of mine
from now on obviously given the the 50
basis point cut how sensitive the sector
is to interest rates um and obviously
it's multi-year consolidation base even
zooming out to a three-year um it's set
up extremely well beautiful base
consolidating high end of the range
right by its 52 we highs 10352 I believe
10352 so for now I'm sitting we failed
multiple uh attempts at that area um so
I'm sitting back for now waiting until
we can clear that with some conviction
um and and really when I see a sign that
buyers um have already stepped up have
taken us above that area and are firmly
in control and then I'd look to get
involved again um and then lastly a
couple small caps just some Pops to
short in these names uh let me put on
vwap rather uh first one's going to be
LF l
y in Leafly so Leafly straightforward
very unlikely I think um but I'm only
looking at a potential trade for Monday
I don't want this to um you know present
itself as a liquidity trap potentially
for a squeeze uh further than I think so
ideally first day would be Monday I'd be
looking for a push into 280s up towards
three towards this developing two-day
vwap push fail um I'd be short against
the high of day targeting a move back
down to two's very straightforward trade
and then very similar to that in GX aai
another pump uh and and failed move on
Friday similarly you know if GX can have
a a bit of a secondary Palm and and
squeeze uh on Monday towards 3 to 350s
uh and fail um I'd look to be fairly
aggressive short for a move back down
towards the low twos but again it's it's
fairly unlikely um but always good to
have aert set because you never know um
so those are my top ideas coming into
the week of course new names pop up
every day um and U my attention and
priorities can change uh depending on
what I uh really perceive those setups
to be and and what my expectancy is but
coming into the week these are top ideas
let me know what you're watching uh I
love it when you guys drop those uh in
in the comment section along with your
plans ideas thoughts um so let me know
what's on your watch list uh what your
thoughts are your plans are uh maybe
I'll add that to my watch list too and
good luck for the week and I'll see you
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