Another day down, another set of trade setups coming up next!
$BTU: This guy has been on a decline lately and I don’t see that decline letting up any time soon. We are in some sort of pennant/mini triangle. A break below 14.30 and I’ll take this trade bearish down to 12.90.
$VLO: This stock is just in a strong downward channel. We had a little bearish flag yesterday and I believe, with confirmation, this could be a great short entry to take after the first 15min and follow it down to 33.23 again. I’m not super confident with this trade, but I am definitely keeping an eye on it.
$UA: Well I got burnt by this stock short and I will be doing all i can to avoid that scenario again. Here I have UA set up as a bracket trade. For a short entry, I want a close below 57.59. For a long entry, I want a close above 60.96.
Goodnight all and good luck.