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GLD: Cooling off 💦It is still summer, so no wonder GLD wants to refresh itself in the upper blue zone between $163.03 and $160.17, into which it has leaped so enthusiastically that we have to wipe droplets of water from our faces, watching the chart. Here, GLD should now finish wave (ii) in blue before resuming the overarching upwards movement. However, as part of our secondary scenario, there is a 40% chance that GLD might need more refreshment and thus could jump below the support at $158, diving into the lower blue zone between $159.23 and $152.88. There, it should then do a lap to complete wave alt.(4) in yellow before rising again.
AMEX:GLD
by MarketIntel
TLT Bond ETF Setup for Reversal to LONGNASDAQ:TLT On the 4H Chart, TLT is sitting on minor support with major support below that. It is near to the bottom of open Bollinger Bands and is inclined to move through the basis line closer to the upper band. Significant resistance is 5 and 15% upside. I see a swing long trade with the stop loss below the major support and targets before the major resistances, yielding a very good reward for risk. Call options are another possibility to consider.
NASDAQ:TLTLong
by AwesomeAvani
LABU 3X Leverage BIOTECHNOLOGY a potential Recession playLABU a 3x leveraged EFT in the biotechnology sector has diverse holdings. My thesis is that biotechnology and healthcare are relatively unhinged from the broader general market. Here I chart LABU / QQQ ratio to determine relative strength. On this weekly chart, the ratio and so relative strength are at more than a 52 week low. The MACD indicator shows the MACD and signal line ascending and below the histogram.; moreover the MACD in green is running above the signal line. This favors a trend reversal. All in all, this seems to be a setup for a long swing trade or investment. I will take a trade in a call option with a strike 50% higher than current price as I see a potential for a large percentage gain for LABU. The diversity of the ETF will serve to mitigate some of the risk. A stop loss will be 1% below current price with an expectation of more than a 50 % return in the remainder of the calendar year but far more in the case of the call option scenario
AMEX:LABULong
by AwesomeAvani
BOIL / GUSH RATIO- Leverage 3X Natural Gas ETFsAMEX:BOIL BOIL is the #X leveraged ETF for Natural Gas while KOLD is it inverse. On this 30M chart I setup the ration between BOIL and KOLD. This is to find precise swing entries without a lot of work for those only trading part time like myself. At the highs, BOIL has peaked relative to KOLDAccordingly, this is the time to exit BOIL and enter a position on KOLD. Conversely, when the ratio is at an inflection bottom, a trader should exit KOLD and enter a BOIL position. This chart shows several patterns including: a double or triple top which may breakdown as there is a newer cup and handle potentially breaking out above the handle in continuation of the prior uptrend. It the present chart, the Bollinger Band basis line the uptrending of its boundaries and the MACD all favor the probability of an uptrend., the spot markeri All in all, I am waiting to buy BOIL since natural gas is being liquified and shipped to Europe to make electric power to supply to air conditioner for the long hot summer. XNGUSD has had dramatic action in the past couple of months, all good for BOIL's price action. Three evening stars or three-bar plays marked with red down arrows. If not in a position at present, the chart should be observed for the cup and handle pattern completion towards a resumption of the uptrend. IF so, a BOIL position could be entered. If it fails the triple top controls the price action and a KOLD position could be entered. This chart demonstrates the importance of looking for patterns to help guide higher probability setup.
AMEX:BOILLong
by AwesomeAvani
2
LABU LEVERAGED BIOTECH ETFThis Daily Chart plots LABU to LABD ratios over time. LABU is 3X Leveraged ETF of a variety of biotechnology stocks while LABD is the inverse. By plotting the ratio of LABU to LABD, what can be found is the precise end of the LABU downtrend (LABD uptrend) and reversal into LABU uptrend ( LABD downtrend). In this case, the reversal occurred about June 17th while the SPY reached its current market bottom. This type of analysis can be used to make trade decisions regarding a contrasting pair of stocks or forex pairs. It makes the decisions more informed. IF going down to a 1H or 4H timeframe, the accuracies will be higher and the pivots more frequent also making potential profits higher. This can be used with other ETF inverses such as GUST /DRIP BOIL /KOLD JDST / JNUG YINN / YANG SOXL/ SOXS FAZ / FAS TMF /TMV By setting up all of these also with alerts such as ratio decreasing or ration increasing a trader with very little time to trade and diversify and automate his/her trading resulting in risk stratification and mitigation and economy of time.
AMEX:LABU
by AwesomeAvani