Thursday, May 30, 2019

Long Trigger Strategy Setups - Daily Chart and 5 minute charts

Long Trigger Trading Setups: The day before identify bullish Daily Charts, the intraday trigger point and monitor the next day for a setup on the 5 minute charts. Before entering a trade identify your stop point and exit point. If the trigger point is the R1 pivot the exit goal could be sell half at R2 pivot and exit remaining end of day. I place my stop at a price level under the 5 minute 20ema.

An Explanation of the daily chart, intraday setups and entry setups are posted on the website under Stock Strategy. Test out the strategy on a stock simulator
BOOT: Daily Setup: Breakout    Intraday Setup: Open below R1 trigger pullback to 9ema support     Entry Type: Pullback high of 2 prior bars back

BOOT trades into R1 pivot and pulls back into the 5 minute rising 9ema. Enter long off the candle setup entry, the high of the 2 prior bars back. Sell half at R2 (white line). Stop below the 20ema with a .18 risk and a goal of .54 or sell at end of day. 

SE: Daily Setup: Breakout    Intraday Setup: Breakout     Entry Type: Breakout
Tight 9ema on the daily chart. SE has a tight consolidation at the prior day close with 9/20ema support on the 5 minute chart. Enter at the break of the trigger price the next day. Sell half at the R2 pivot - stop under the 20ema whole number.

ENPH: Daily Setup: Red to Green    Intraday Setup: Open below R1 trigger pullback to 9ema     Entry Type: Pullback 2 bars back high
Little more risky of an entry but in exchange for the antipated continuation through the R1 pivot you use a higher risk/reward. Pullback off the R1 pivot a into the 5 minute rising 9/20ema. Exit goal is the R2 pivot, where you can sell half (white line) or exit. Stop below the 20ema with a .15 risk and a goal of .65 or sell at end of day. A risk/reward of over 4-1.
AMP: Daily Setup: Pullback    Intraday Setup: Open below R1 trigger pullback to rising 9ema     Entry Type: Consolidation Break
AMP trades into R1 pivot and consolidates into the rising 5 minute 9/20ema. Enter long at break of high of day and R1 pivot. Could of entered after the first pullback as well if looking for a larger risk/reward. Can sell half at R2 pivot (white line). Stop below the 20ema with a .40 risk and a goal of 1.20 or sell at end of day.





ROKU: Daily Setup: Pullback    Intraday Setup: Open below R1 trigger pullback to 9ema     Entry Type: Consolidation Break
ROKU trades into R1 pivot and consolidates into the rising 5 minute 9/20ema. Enter long at break of high of day. Stop below the 20ema with a .75 risk and a goal of 2.25 or sell at end of day.

AMD: Daily Setup: Breakout    Intraday Setup: Breakout     Entry Type: Breakout
Break and GO off Daily Setup of Double Top with with tight Daily Chart 9ema: Can enter at the open at the trigger point and sell half at the R@ pivot.When entering at the open, want the overall market agreeing pre-market and in a bullish trend. Can place the Stop at LOD or for a more conservative stop placement at the gap fill area. 

LULU: Daily Setup: Continuation   Intraday Setup: Breakout     Entry Type: Breakout
LULU nice break through on the daily chart with 9ema support. Can enter on the high of 5 minute candle, with the stop placed at low of the day.  Sell half at R2 (white line).

BLDR: Daily Setup: Continuation   Intraday Setup: Breakout R1    Entry Type: Breakout
BLDR continuation trade on the daily chart and trades into the R1 pivot and bases with the rising 5 minute 9/20ema - stop under 20ema.  Sell half at R2 (white line) or end of day.





Charts Key:
  • Daily Charts: Daily 9 (blue dotted) , 20 (red), 50 (orange), 200 (dark red)- ema's
  • Intraday Charts: 9 (blue dotted) , 20 (red), 60 (orange) s: - ema's
  • Intraday Pivots: Green R1, Dark Green R2, Red R1, Dark Red R2 
  • Yellow Lines and Grey Boxes: entry areas to target 
  • Red Lines unfilled gaps


* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

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Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE