Entry on a break of the previous trading day's high. Stop below the deepest pullback low. Fund managers like to trap pullback traders by triggering a pullback entry, so ignoring a first thrust can often lessen risk.

Long-side setups

CHK Chesapeake Energy Corp
MGY Magnolia Oil & Gas
TALO Talos Energy Inc
WMB Williams Companies

Entry on a break of the previous trading day's low. Stop above the deepest pullback high. Fund managers like to trap pullback traders by triggering a pullback entry, so ignoring a first thrust can often lessen risk.

Short-side setups

DGX Quest Diagnostics
HCSG Healthcare Svcs Grp
IAA IAA Inc
JHG Janus Henderson Grp PLC

Dave Mecklenburg is the Publisher of TigerSharkTrading.com.