A Tactical Trade You Can’t Ignore

Chart-based trading is a potentially lucrative strategy for traders.

Which is why in today’s guest article, Monument Traders Alliance Lead Technical Tactician Nate Bear is showing readers how to spot pristine chart setups.

Nate also recently celebrated his 100th triple-digit winner in Daily Profits Live – his daily livestream trading platform.

To celebrate, Nate is opening up Daily Profits Live for FREE for one whole trading week.

Click here to learn more about Nate’s Daily Profits Live Open House.

– Nicole Labra, Senior Managing Editor

The markets are showing interesting signals with a daily squeeze setting up in the SDPR S&P 500 ETF (NYSE: SPY) – but we’re heading into Option Expiration Week (OPEX).

This typically means we should expect some chop and potentially lighter trading conditions.

I’ve recently taken profits and am approaching with caution – my strategy is to protect our gains and stay nimble through what could be a choppy week.

We might see a pullback before potentially shifting upward later in the week.

But here’s what’s caught my attention: While the broader market might be choppy, Intuitive Surgical (Nasdaq: ISRG) is showing a pristine setup that’s hard to ignore.

Here’s what I’m watching…

Why ISRG?

Setting up with a beautiful A+ squeeze on the 130-minute chart
Trading near all-time highs, showing incredible strength
Has an unfilled gap above, suggesting more upside potential
Clean technical pattern with clear support levels

The Setup

Looking to get long between $583-$587
Primary entry zone around the point of control at $585
First target at the all-time high of $616
Extended target at the 1.272 Fibonacci extension of $630

For options traders, I’m looking at the March 21st $600 calls. These won’t be cheap options – but they give us plenty of time for the setup to play out.

Expect to pay around $8-$9 per contract if we get our ideal entry on a pullback.

The bottom line? This setup offers a clean risk/reward scenario in a stock showing notable strength. With a $600 stock, traders may want to consider trading fewer contracts while focusing on quality positioning.

Want to see exactly how I identify and execute trades like this – LIVE?

Join Me for My FREE Daily Profits Live Open House (February 24-28, from 9 a.m. – 4 p.m. ET)

I’m celebrating a huge milestone – 100 trades with 100%+ gains since March 2023 – and I want you to be part of it!

During this week-long event, you’ll get…