Nothing I love more than waking up Monday morning to see some follow-through in my weekend trade setups…

With HPIL Holding (HPIL) and Majic Wheels Corp. (MJWL), each opening with a gap up this morning, it’s an excellent start to the week for me.

I took trades in HPIL and MJWL as part of my Weekend Wiretaps service this past Friday…(don’t know what that is? Stay tuned for more on that in the future).

And this morning both stocks made early moves to my target range.

And to be clear, this wasn’t about the companies…these trades were all about the setups.

HPIL Holding (HPIL) Sunrise Surprise

I’ll get straight to it…Higher Highs and Higher Lows.

This is what I call the Stair Step Pattern and it’s one of my favorites.

Stocks don’t go straight up. So even a strong stock needs a break.

A strong stock will go up, pull back, and then move up again…and that’s how the Stair Step pattern is formed…

The key is that when the stock takes a pause, it stays above the previous low. And when it makes the next move up, it makes a new swing high.

And that’s exactly what I was eyeing in HPIL on Friday afternoon.

It’s easy to see in the image below.

I was able to get in at .0079 on a pullback looking for a run toward .01-.011 as the “whole number” mental resistance level.

And when I woke up, HPIL was the #1 most actively traded stock under $1 that’s up at least 15% on my live scanner this morning…hitting my target range on a gap up.

I took part of my trade off at .0098, just before .01 mental resistance…and closed the rest at .0105.

Clearly it had more room to give. But it’s important to keep in mind that when momentum turns I don’t want to be caught in the fall out, so I try to get out just before resistance levels.

And that’s not the only Weekend Momentum trade I took Friday afternoon.

Majic Wheels Corp. (MJWL): Different Chart, Same Pattern

Again, check out the higher high and higher lows in the image below…

Scaling out like that is one way to cut the risk down as the stock moves in a way that I like to see.

By taking part in the trade-off, I lock some in and then move my stop loss on the last part, lowering the current risk and my anxiety.

When it comes to trading on Fridays, I like to focus on momentum going into the weekend. And last Friday, both MJWL and HPIL fit the bill.

Luckily enough for me, they both provided follow-through momentum this morning. I can’t ask for more than that.

Next up…when to seize opportunities.