As talked about in my recent video linked below
The volatile spike on earnings at a key retracement level on NYSE:SLB triggered a long setup to retest the high.
The market teaches traders lessons every day... often times reinforcing them to seasoned traders like myself. I happened to have been in but was out of NASDAQ:SRPT before this disaster today. It's a reminder why you MUST take profits even if sometimes you feel the FOMO after you do...
This week I've been watching my scans for signals that fit my strategy. I have not yet seen potential trades that fit my strategy; bullish nor bearish. Today I got two signals that fit my criteria on NYSE:PM and NASDAQ:LRCX ; shorts. PM is looking to hold a 50% level. LRCX is setting up a potential double top. I'm not yet sure of the market sentiment...
Stories aside about a vaccine and return to normal I like the price action of NYSE:RCL . What the price has done is brush up against the 50% retracement level several times this year and finally has broken above it for a week and come back this morning to spike out and confirm it now as support. This presents a great LOW RISK trade because you know where your...
Price action on NASDAQ:QQQ this week has established a range following the potential false breakout of the past All Time High. This morning's dip touched a level that was the 50% retracement of the prior weeks' move that was also Resistance turned Support. Breaking above 304 or below 298 is going may define the move going into the end of the year.
This is the marked up idea for my Short trade today detailed in my video idea.
While I do not think that bullish case on NASDAQ:CRSR is over I did see an opportunity for a swing trade on the lower timeframes this morning.
Some price action this week got me very interested in stocks that were all the rage through the pandemic trading in 2020. NYSE:RCL is a trade I posted about yesterday that was up 4% on the day today. I like this price action to go more. NYSE:DAL is another stock in recovery that a friend had me look at and it has almost identical price action. He also took...
I like what I see on this asset at this level, though I wish there was more price history to validate support because it just recently "bottomed", but we all know that could go out the window on a significant fundamental move or maybe even another push higher by BTC. Reasons: 1.) I like that it is near bottom of value and definitely in the location where I...
Got a signal today on the opening bar of AMEX:GLD spiking out at the 50% retracement of November's price action. This sets up a low risk play back to the bottom and the longer term Retracement level of the 2020 price action around 165.28
I love to find examples of where my favorite technical level works. NASDAQ:NKLA is a great example of a stock respecting the 50% retracement level from its down move back in September. I didn't play this move but my trade in NYSE:NIO is definitely benefitting from the crash this week in EV. If only we could have seen this coming! See my video below for why I did.
Once the hype dies down all the hype traders stop looking at the stocks. That doesn't mean there are no more opportunities. Ignore the hype and stay consistent looking for your setups... even and ESPECIALLY when a stock looks BORING! That's the time for opportunity when no one else is looking!
I wanted to make a video followup to a post I made over the weekend as BITFINEX:BTCUSD was flirting with a swing timeframe resistance on the 1h timeframe. Price has taken the bullish case by breaking that resistance. I share my thoughts on what this means for the future and if we are going to break that all important past-All Time High or not!
BITFINEX:BTCUSD has recovered from the recent down move and is NOW sitting at Resistance. The level is the 50% Retracement of the move. So far in the short term price is responding to and respecting this level. Breaking the level up would be a bullish sign for a retest of the near term high and a possibility of continuing to the ATH test. Failing to break...
Hope everyone had a great Thanksgiving if you're in the US! What better way to recover from a food coma than to analyze a food stock? I'm comfortable with traders being bullish on NASDAQ:BYND to retest the 2020 high so long as it holds the post-earnings low. There is clear price action to structure a trade where your risk and target needs to be. So loosen up...
Through my research whilst studying Scott Carneys Harmonics methods I devised the 50% retracement system. This system allows me to enter higher time frame patterns with considerably smaller stops. Entering at the 50% retracement with a stop at the 25% allows me to create a risk free position by closing 50% at 2R (100%). I carry out this system on the 1m time...
Today I got sent a lot of positive vibes about the methods I've been sharing so I wanted to give back. There are two great setups that a friend found I wanted to share on NYSE:REV and NYSE:EL . I don't know anything about the industry of women's makeup but I know when price action is beautiful! Both of these had some great around-earnings price action that...