Dave Barnhart breaks down two trade setups: COIN, which is trading above billions in smart money, and USO, which is heating up. He reviews volume patterns, moving averages, pivot levels, and specific entry and exit points for each trade.
Chapters
Good morning, traders. It's Thursday, August 20th at 4:44 AM. All right, 2 stocks for you today. We've got Coin and we've got USO. So a lot of the crypto stocks are taking off, and you would have seen that yesterday with the rally in Bitcoin. When I looked at it, it was up about 4 grand. So anyway, um, crypto's running and oil is up. So let's go ahead and have a look at these largest trades in the last 30 days on Coin. So we can see here, starting back July 27th, we pushed up. Now we're breaking through this print now, 415K from July 28th. You see that? But we pulled back, we consolidated for a bit. You can see just, just going on here, increasing volume 2 days ago, holding this print, and then springboard, and now we're off to the races. This is a 100 simple moving average here. If we can get close above that, then I can see us maybe coming up to 197. Here, but look at the volume here: 1.7 million, 2 million, 1 million, 800 thousand in shares. So if this is gonna go, then it's gonna be a larger move. So let's map this out on the intraday. We are going to be bullish above 172.50 psychological level. Let's get above this consolidation target. 175, 176.05 is R2. 177.50, 180.01 is a Camarilla right there. And then we've got 182.50, and I stopped out. $185 because the ATR on this one is $9.27. So for those of you that are new, we've got my 4 exponential moving average, which is red, and my 8 exponential moving average, which is blue, for the short-term trading. And if we're riding this, there's no reason to get out, right? So where we have these pivots and CAMs, that's where we would expect some pullback and the major dollar levels. So just be careful with that. On the downside, we're going to be bearish below $167. Let's get below this institutional level, this 167.90. So we want to get below 167.50. Target 165.22. This would get us to the post-market here, and that's the CAM. 163.54 is a CAM. 161.87 is a CAM. Then we've got 160, 158, 53, 29, and then 157. 81 is the pivot, and I've stopped here. This is a little difficult on the downside, but right here we have our 200 exponential, 3 pivots, 200 simple, and a 266K print, right? So this, if we look back here, this is another support level when with our moving averages. Okay, let's move on to USO. Okay, so USO largest prints in the last month. Well, this one's been a little bit crazy with this 347K at the top. We came down here once 124 level and which is another 400K. And then we've been around. We've got this. We've got this consolidation here in the last couple weeks breaking above. It looks like they're adding to their position here. So we're above these dark pool prints. And so. Let's see if we can make it up to this print. If we close above it, potentially higher. And then if we close below these prints, we're stuck in some moving averages. So anyway, on the swing trade, the upside is easier. Otherwise, you'd have to be down below 120, 124 to go short. So let's go ahead and look at the intraday. We're going to be bullish above 134.50. We've got 134.49, which is R2. So you want this to be support. So maybe a break, retest, moving higher. Target 135, 136.69, 347. Okay, 137.41, 139.25, and 140.33 is our 4. The ATR on this is 3.495. We're up 3.40 already, so we'll see. It seems to be strong. Now this is the example of the 4 and the 8 exponential moving average running together, so People who get out, maybe if it closes below the 4 or below the 8 potentially. It's that's totally up to you wherever, or a major dollar level taking some profit and letting a little bit and a little bit run. Some people do it where if you close below the previous candle, then look out for that. On the downside, we're going to be bearish below 132.52. Or 132.50, sorry. Target 131.71, 131.57. Now this is really tight. 131.45, 131.18. Look at this grouping here. This is difficult with the post-market and the 200 exponential, 200 simple, and the 50 simple moving average right in here. So that, that might be the end of the road. We'll see. Then we've got 130.64, 130.37, and then right here, 130.29 and 30. That's $1.5 million. And I really stopped right there if this was going to pull back to this really strong area and then this strong area. So just be careful in there. All right, there you have it. Those are your 2 trade setups for today. So please like, share, subscribe, leave some comments in the comment section below, and we'll see you tomorrow with all new trade setups. Happy trading. MobyTick has partnered with TrendSpider to bring real-time institutional trades to your charts. Click the link in the description below for more details.
