Trades about to happen Nov 3

Did I help you profit?

Please consider making a modest donation to help me continue producing valuable content.

Tickers discussed:  ARKW, ARKQ, CROX, GT, FUBO, TWLO, BJ, FIVE, CYBR, ROKU

Trades about to Happen features technical chart set ups that are close to actionable levels.

Chart Set -Ups ahead of the FOMC

Jay Powell and the FOMC will make their Rate / Taper announcement this afternoon at 2pm followed by a presser at 2.30pm.   Here are some set ups on various charts. I don’t think its a good idea to load up on risk ahead of the FOMC.  Alarm the key levels on these charts and be ready to roll after the event risk clears.

In the charts below, I have identified key support / pivot levels where traders can focus attention in the days ahead. I have found that setting a bunch of alarms, then waiting for them to trigger. Once triggered, the trader can then evaluate whether to take the trade or not based on market conditions and current portfolio exposure.

Before taking any position, please confirm the earnings date

Trades about to happen


$87 has been long standing resistance. A break above and hold opens the door for a run back to the highs near  $100.  If however there is a smart rejection here, the expectation would be a trip back to the bottom of the box around $77.


Like ARKQ, this ARK ETF is at key resistance at $160. A break and hold above targets a move to $190.


$BJ’s is  big box club store like COST. As long as $59.50 holds, the door is open for a move higher. Notice that the ema’s are bullishly stacked and are supportive of higher prices.


Specialty footware maker CROX has been on an epic run. Now if price can hold the $165 area the door is open for higher prices. With no natural sellers in blue sky country, don’t dismiss how high a stock like this can go.


Cyber security stock CYBR has been stair stepping higher in the classic bull flag after bull flag fashion. Alarm $185 and buy the breakout. You may want to also alarm $176 in case there is a back touch of the 20ema at the bottom of the box. In that case a simple move to the top of the box would have you with a winner and chance for a breakout.


Simple set up. Alarm $202 for entry into a $14 gap and the expectation for a gap fill to $215.


Price has broken above trendline resistance and has now come up to challenge overhead resistance at $34. A break above would open the door to the prior highs around $52.


Goodyear has been grinding around a $6 range since last March. A break above $20.50 puts price in a whole new range and opens the door for a move to $26


Fan favorite ROKU is near key support at $300 which has held for the better part of a year.  ROKU reports earnings tonight and likely makes a significant move.  If price makes a definative break below $300, notice the big void below where there wont be much technical support. If that happens, set up a bracket trade with a bias to the downside.  If price gaps higher and recaptures all the moving averages, you can be long against the 200ema at $240.  Either way, I think may offer a compelling set up for either a long or a short.


Simple set up.  Alarm $300; on a break above take it long for a gap fill to $345.  Alarm $280. On a break below, go short. THere’s a massive void below the key support and I don’t think there would be anybody home until much lower levels.

Get inspired, empowered and prepared.

Join us!

As the host of Trader’s Profit Compass, I work hard to inspire, empower, and prepare aspiring traders to face the markets with fortitude, quiet confidence and inner calm. It’s a protein-rich, sugar free environment without ego or judgement. While I can’t promise that joining our group will change your life, I’d like to think it will help your trading. Give it a spin!  Nothing to lose and potentially much to gain.

Our group of aspiring traders are into active swing trading using technical analysis to find objective, high-probability,  low-risk trades.  Using these processes we’ve been fortunate to be winning; not perfect but winning. If that is appealing to you, join us!  I’d like to think you’d benefit from the work.  You’ll get premium  content 6 times a week including a copy of my Daily Profit Compass, Weekend Profit Navigator, along with other actionable content delivered directly to your mailbox. You’ll even get an invite to our new trading room on SLACK.

Registration is simple and FREE   Visit our homepage  HERE

Spread the word?


Leave a Reply

Your email address will not be published. Required fields are marked *