Dave Barnhart reviews his morning swing trade callouts on IBIT, MARA, and QBTS. QBTS ran $1.05 to $8.80, netting $6.89 per share. Over three weeks he's 14 wins, 2 losses, $4,381 total.
Chapters
Hey traders, time to review our pre-market swings that we set up. So we had IBIT, MARA, and QBTS. So let's go ahead and see what happened. Inside day on the market, so it was a little difficult to trade, had to be a little nimble. So what I'll, I'll show you quickly what an inside day candle looks like. We had this big move up There was this big move up on the QQQ yesterday, and then we are in between that. So this is an inside day. So the— you're trading inside the range of the candle. But what we did is we came down here on the Q's and pushed off this 4 exponential moving average on the daily and started moving up. That corresponds to this down here, which is a nice 3-line strike increase in volume off of support. Uh, I was eating lunch at this time, so I missed most of this run. Anyway, let's get on to what we were talking about. The first one is IBIT, and this one we were bullish above $61.50, and our target was really $62.33. I figured we would get all the way up here, and that didn't actually happen. And so we got to $61. The high was $61.75. So we'll take our 20-cent loss on this one. And anybody who was trading this and saw this come down, if you were nimble, you could catch it breaking below this R1 all the way back to the pivot. That was a pretty good, a good trade. And then these are the ones that I like: pullback, bullish engulfing on support. That's a good trade up, right? But because it's lunchtime for the big guys, the market is easily manipulated on lower volume. So that was really the trade. This one is a stop out of minus 20 cents. Let's go ahead and look at Mara. Now Mara was difficult too. So here on the bullish side, we were bullish above 25.20. So there was this setup pre-market, and then we had the target of 25.58, which was this R1 up here that we called out pre-market. It went up and it tagged that. Right in the opening candle. And so that was a sniper move. That's, that's dirty pool, as they would say. Um, they gave us a second opportunity to get in at $25.20. This one came up to, to, uh, $25.52. There was a 30-cent scalp there, but you notice how we're just going sideways on this. And then we were bearish below $24.96, which was interesting. And so we actually were able to tag this downside, $24.96. All the way down to $24.50. So there was our first target, $24.76. This came down, came up to retest this line, and then came down to the pivot here. So that worked out really well for us on the up and downside. And then here, same sort of thing with this consolidation on the pivot. Bullish engulfing, increasing volume at support. That's pretty good. If we're looking left, there's a target here, right? All the way up to that one, then to the next one, and then to the next one if you're still in it. So if you're, uh, if you're scalping, hopefully you caught some of that. So we kind of got that on the upside and the downside, which was pretty good. Let's go look at QBTS. So QBTS, this one we were bullish above $7.75 up to $8.02, $8.20, $8.34, and $8.80. Well, this one came down to this support, took off right from $7.75 at the open all the way here to a high of $8.60, and then it pulled back a bit. Oh, it went all the way up here to 942. So that was a pretty good run on that. And then we were bearish below 697, which that didn't happen. But if we captured this portion of the trade, uh, we were out in 10 minutes. So that's pretty good. But like I mentioned, today it's kind of a sniping day because it's an inside day on the indices there. Okay, so let's go ahead and look at our results for the day. All right, so here's our day, December 17th, and I've marked in our trades here. So IBIT, we lost our $0.20. MARO, we got it on the upside and on the downside if we were paying attention, and that gave us $0.84 net. And then QBTS, it shot up. I only put $8.80 because that's what we had mapped out, but it actually went over $9. So this one was $1.05 for a total of $6.89 a share. for that. And then, so that's an 80% win rate today, or for this week so far. And when we look at our totals for the week, for the last 3 weeks, we're up to 16 trades, 14 wins, and 2 losses for a total of $4,381. Okay, um, hopefully you're enjoying these videos. Don't forget to like and subscribe, leave some comments in the comment section below. And happy trading.
