Recap: Sabato's Market Watchlist 9/7-9/10
Welcome back everyone! We had another great week at True Trade this week! This watchlist went 3 for 4 on the main watchlist and 3 for 4 on the bonus plays! WE had a short week due to labor day, but we still had some quality trades this week. Our members made some great profits again this week. Hope you caught some off the watchlist, too! Check out the watchlist here.
In this recap, I will get into some further detail about why I picked last week's trades and how they did.
If you want to skip down to a certain play, click the corresponding link: $BA, $DKNG, $NFLX, $PYPL. Bonus Plays: $TSLA, $AAPL, $BIDU, $APPS.
1. Boeing: $BA
Why I picked this trade:
$BA has strong resistance in the $223 area, and still hasn't broken it. BA has also held the $216.2-217 area as support.
Here's what happened:
$BA gapped down below support and daily trendline, making any upside plays void
The only other trade to watch here would have been shorts off that support turned resistance zone at $216.2-217 area.
30 min chart:
Daily chart as of 9/10/21:
How I would execute the trade:
The best setup would have been calls if we got a bounce off support, but we gapped below support and trend, making this plan void. The next best trade given the gap down would have been puts off the uptrend/bottom of the support zone in green shown above.
How it played out:
This original bullish plan was void. Scalping puts off the $216 area would have been profitable.
2. DraftKings: $DKNG
Why I picked this trade:
$DKNG had an ascending triangle (in grey circle in image below) on the daily chart, indicating higher prices to come.
Here's what happened:
DKNG got above the $61.2 key level and made a run to $64!
Daily chart:
30 minute chart:
How I would execute the trade:
Once DKNG broke and held $61.2 on a 5 minute chart, I would have watched on a 1 and 5 minute chart for a retrace back toward $61.5 area for entry. Once in, I would have taken profits at my key levels indicated in the image above while keeping a trailing stop, like always!
How it played out:
DKNG followed the TA beautifully! We even validated the $64.4 as resistance!
3. Netflix: $NFLX
Why I picked this trade:
Netflix was on a tear and made new highs last week. I was looking for a continuation play here.
Here's what happened:
$NFLX continued upward and made new highs again.
We opened near highs and bounce right off the $595 support area right into new highs on 9/7.
Daily Chart as of 9/10:
5 min chart 9/10:
How I would execute the trade:
On a runner like this, it's hard to get in at the best possible price. The best method in my opinion would be to get in a small position once Netflix broke overnight highs and add size once ATHs were broken. As always, take profits along the way and have a trailing SL on runners like this.
How it played out:
If caught, Netflix was a huge winner!
4.Paypal:$PYPL
Why I picked this trade:
$PYPL had a nice bull flag forming after a pop up to $292.
Here's what happened:
$PYPL opened on 9/7 right above $288.9 support and offered entry
We then continued up to $292.2 resistance
With a strong close above the previous daily high made earlier that day, swinging these was not out of the question.
Daily chart as of 9/10:
30 minute chart as of 9/10:
How I would execute the trade:
With an initial rejection off the top of the channel of the flag, I would wait patiently for a retest of support at $288.9. Once we hold a 5 minute candle above and recapture the previous 5 minute candle which broke down toward support, I'd enter calls. I would take profits and first resistance, $291, set a SL to break even, and continue to monitor trade. I'd then take all but one contract off the table at $292.2, and then set SL on my final contract with some profit on it (how much is up to each trader). Just make sure you DO NOT let the trade go red.
How it played out:
$PYPL printed on Tuesday!
Bonus plays: I unfortunately did not get any interaction on this post... you guys are making me sad :( Here's the bonus plays recap regardless....
For some one on one advice, join the discord and DM me (Basement_Trader_Cheap) and tell me personally what your struggles might be when it comes to TA and trading in general. Advancing in your craft hinges on networking and constant learning. The sooner you are aware of this, the faster you will advance.
BUT: $TLSA: Broke $740 and continued
$AAPL: broke into new highs
$BIDU: bounced off of $159
$APPS: void, did not break $67.
Until next time....
- Sabato
That's if for this recap. I hope this helps you understand my style more and explains my methods. It was a great week for call outs! Join our discord for free. Let me know you saw this post! Check out past watchlist @ https://www.truetradellc.com/blog/categories/watchlists to see if any plays are still live or if the levels truly work 👀 ** THIS IS NOT FINANCIAL ADVICE** I can do this on and on for every stock , but the best way to get them live is by joining the chat ;) https://www.truetradellc.com/stock-signals-membership Email: truetrade1313@gmail.com Instagram: https://www.instagram.com/basement_financials/ Website: https://www.truetradellc.com/ Twitter: https://twitter.com/TrueTradeLLC1