Looking For The Right Setup
$IPI $PYPL
39%. That’s where the QQQ 0.00%↑ looks poised to end the first half of this year. Congrats.
Given the strength of the move this year, and especially these past few weeks, I’m trying to find different setups than I was at the start of the year.
Here are 2 examples.
A friend from the fundamental world put this one on my radar awhile ago. Here’s why it’s interesting me now. Gap down following earnings. Broke through anchored vwap from that point, pulled back to it, and now looks to be breaking from that consolidation range. Using the AVWAP (orange) as the stop, the risk/reward setup here is favorable.
Here’s another similar setup
This one looks to be in that retest phase that we see above. Cross above $69 and it might be go time.