Maybe a Mixed Bag this week!

My top 3-5 swing trading ideas for the week using Elliott Wave analysis. I might or might not make trades in these.  You must follow the RARE Swing Trading group feed chat regularly to participate.

I am not aware of your risk tolerance, financial position, or goals, nor do I know what level of risk you currently have on the table, and I am not a licensed financial adviser. Consequently, nothing I say should be construed to be personal financial advice. Take the time to read Using Shooter’s Swing Notes and our risk disclosures before making any trades.

Swing Trade Performance Week Ending 07/04

#Swing Trade Performance Tracking

Continuation Trade Set-ups

SPDR Gold Trust ETF (GLD)

  • GLD Lumber and Transportation are telling us something? That Gold is likely at least back test the breakout with a at $230 later this year.
  • At this point it’s just $5 trade, meaning I’m just looking for a target of $225 again.
#SPDR Gold Trust ETF (GLD) Daily Elliott Wave Chart

Illumina Inc. (ILMN)

  • ILMN is a cash-secured $100 put candidate until we close above the 23.6% Fib extension.
  • Then, you can roll into August or September $120 calls.
#SPDR Gold Trust ETF (GLD) Daily Elliott Wave Chart

Swing Trade Set-ups

Advanced Micro Devices Inc. (AMD)

  • AMD has a breakout overhead and a 50% Fib extension around $184.23.
  • I’d target August $175 calls and roll up into $180 calls.
  • Watch for price rejection, but it’s looking to clean at this point in my view.
#Advanced Micro Devices Inc. (AMD) Daily Elliott Wave Chart

Shopify Inc. (SHOP)

  • SHOP needs a breakout with some volume.
  • I’d stay shallow around August $70 calls.
#Shopify Inc. (SHOP) Daily Elliott Wave Chart

Risk Disclosure & Performance Disclaimer Statement | Fundamental Trends

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