Traders,
Without further ado, let’s get right into some of my top ideas heading into the week!
And of course, we have to start off with SpaceX.
Reactive Trading in SpaceX: Some solid opportunities on Friday in SpaceX. A few textbook intraday IPO setups were present, including the opening print, opening drive, and range break. Some great action to go back and review and playbook.
Now, what am I thinking going forward? I’m not going to share my long-term thoughts here; that’s irrelevant. Rather, what am I looking for on day 2 and 3?
First off are the key levels to be aware of. $150 support and $155 support are two key levels from day 1 that I will be watching closely, ALONG with the 2-day VWAP, which will be near $165 potentially on day 2. In terms of resistance, the two main levels are $170 and around $175. Within Friday’s range, I will simply look for reactive scalps. The bigger opportunity would be a consolidation near either of the major support or resistance zones from Friday. If SPCX consolidates and churns near major support or resistance, I’ll look for a momentum intraday trade through that level. Ideally, i...


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