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BEWARE IMPORTANT COPPER PRICE LEVEL - HG1! - COPPER - DAILYThank you for your likes and comments! Really appreciated! This is an idea about Copper price, not a financial advice. ___________________________________________________________________________________________________ The HG1! Copper Futures have been continuously rising... almost a year. We realized that summer is coming and that this market have been beating all the selling power trying to bring it down of slower it> How long is it going to last? The blue lines represent the channel that the price is following. Being at the top of this channel and seeing a possible strong signal of a pullback, the probability of seeing the market profile change has risen. The volume involved where huge but will it again beat it and keep going up further? The next step down is probably at the dotted red horizontal line. Some other "super volumes" interventions happened in that past at that price level. For a day traders, this is probably something to keep an eye on> For a longer term trader, lowering the exposition is probably smart at this price level. Reentering step by step after this level is passed or when the deep happens.
COMEX:HG1!Short
by Diallo_Charts_Ideas
Daily Oscillators are now short with the 4hour on SPX & ES1!Shown is the 4hr ES futures chart for the S&P 500, along with the "Level Break" & "Fisher Transform" studies. Notice how you can see clear areas of previous resistance or support and use them to weigh in your R:R structure. The short target of the next known support level is clearly shown in the low 3300's. Now, shorts can keep good a risk to reward ratio, also known as payoff ratio, by shorting in the red oval area with the stop at a previous support (to become new resistance in mid 3355 area). As always, shorts are quicker trades than longs, and especially on this time scale. So, be sure to lock in profits and don't let winners turn to losers! Note that the Fisher Transform on the 4hr is also a tell that the short could be done. Look at the green cloud in pic at bottom, eyes peeled here! I should also note that I don't take these strategy trades verbatim, they are only a guide. Also, there is a great play for the bounce if you are looking to get in this longer term bull market at a decent price, look for the low 3300's. The market hasn't been offering good pullbacks to buy, so take each pullback for the investment portfolio as best you can, and take target prices for your investments to put that $ in things that have room to run. Sidenote, I will be releasing some new scripts for TradingView this week! They will be more of a scalping/daytrader thing, looking forward to conversing about them. ~B3 d^.^b
CME_MINI:ES1!Short
by HammondB3
OKTA bullish momentum trade into earningsOKTA's trend is bullish and has been for quite sometime. OKTA grew its revenue by 60% last year (2018). That’s a head and shoulders above most loss-making companies, especially in the cloud space and SSO. And the share price has responded, gaining 126% in the last 12 months. OKTA has reacted bullish more than bearish on earnings historically. Currently the market is holding a nice tight uptrend after making successive new ATHs. Based on the price action the last few weeks and few days, it appears OKTA would like to continue higher in the low to mid $90 region either before or post ER. This is a high risk setup. However, price is making higher hows and higher lows as you would like to see in a bullish trade. The trade is entering May $80 calls at $12.40 (stop-limit) with a stop loss of $10.40. Max loss of $200 per contract. The plan is to take profit before the ER if price reaches $92-$93 otherwise will considering holding over ER for the upper 1.618 fib target and higher. But first let's clear $88 ahead of earnings. Let's see what happens this week :-).
NASDAQ:OKTALong
by Price-Level-Trading
NIO coiled to test $12+ again?In the final week of January, NIO (NIO) announced the offering of $650 million convertible five-year bond to raise funds and utilize the funds “to pay the costs of the capped call transactions.” The bond offering closed on February 4. Tencent Holdings (TCEHY) purchased $30 million worth of its proposed offering, while Hillhouse Capital Management purchased $5 million of its proposed offering. Existing large investors’ continued confidence in NIO drove its stock higher in the next few sessions. Key factors in February that caused NIO to rise over 20% include: On February 20, NIO pleased investors by stating that it has been ranked fifth on Fast Company’s list of China’s most innovative companies for 2019. On February 24, CBS broadcasted an interview with William Li—NIO’s founder and CEO. During the interview, Li tried to project NIO as a lifestyle company—different from Tesla (TSLA). These factors likely boosted investors’ sentiments in last month. TSLA 's CEO, Elon Musk, was held in contempt of court for his Twitter behavior and continues to put the company in hot water with the SEC: www.cnn.com Productive USA-China talks to reach a trade deal. With that said, I believe the risk:reward is there on either April $8 or $10 calls to hold over earnings for possible move back up towards the all-time high. Max risk will be defined ahead of times so no stop loss will be needed. We will float an order out there for April $10 calls at $1. IF it does not fill by market close tomorrow, I will adjust the order to get filled ahead of earnings.
NYSE:NIOLong
by Price-Level-Trading
4
AMZN ready to push back towards $1700 and beyondWhile the SPY is fighting $280 resistance, AMZN has been making higher lows inside its major down channel. A break towards 1672 then 1723 (5% move from the closing price of today and the 200 day sma) looks to be in the cards as long as the overall market can break through 2800 on ES and hold. I also like that the daily has closed well above the daily 9 day exponential moving average. A bigger move in the market place is definitely in the cards in the next 2-3 days with the USA-China trade agreement extended deadline from this Friday, March 1. Also Trump meeting with North Korea's leader, Kim Jong Un, to discuss denuclearization. A USA-China trade deal, or even a peace agreement with North Korea could launch this market much higher. Purchased April $1640 calls with a $10 stop based on the weekly and daily price action. Risking $1k (per contract) of house money to make $5k (per contract)+. Let's see what happens in the next few days :-). As always let price discovery be your guide.
NASDAQ:AMZNLong
by Price-Level-Trading
SHAK at strong resistance getting ready to breakout?!SHAK One of my favorite setups is to take a stock long at the break of a resistance or break of support to catch the momentum of the move. Earnings are about 2 weeks out too so SHAK may rise into the ER like most stocks do. MY setup is taking the break of Thursday's candle with March $50 calls. Keeping a tight stop in case it's a failure on the break up. Target 1 is the 200 day sma and target 2 will be around the $60. Let's see what she does this week! Once filled will give the trade 3-5 days to see how the momentum is. As always let price discovery be your guide :-).
NYSE:SHAKLong
by Price-Level-Trading
Looking at taking below 2722.25 short based on 30min candleCurrently testing the near term uptrend with an indecision candle on the daily again. We failed to break above 38 on three attempts. The market was muted to slightly down with JPow's speech in D.C. 2722 area is solid support and I like the buying that came in just above there. However if price can't clear 2726 and stay above 2728, most likely will continue down breaking the uptrend line. Let's see what she does. As always let price discovery be your guide :-)!
CME_MINI:ES1!Short
by Price-Level-Trading
My forecast for RTY this weekTrend is up still until we lost that lower trend line. We are more than 50% back from the ATH and the sell off reversal area. Love that little doji that formed on Friday. We most likely break in the direction of the high or low with strength. My upper target on RTY is 1530.7 then 1560 area. Lower areas of support 1498-1500, lower 1478-80, and 1465 (and 18 day sma). I am expecting a more significant pull back in the next few weeks. However always let price discovery be your guide. Trade the trend until it fails. Cheers! :-)
CME_MINI:RTY1!Long
by PriceLevelTrading
Forecast for YM this weekJust like ES1! and NQ1!, the trend is bullish. However we are at some resistance on the daily. There should be a lot of support at 24,860-24,900. Below there 24,750 has to hold or we will sell quite a bit. Testing the 200 day sma right now and the downtrend line from the ATH. We are currently more than 2/3 back from the reversal in December and the ATH. This area should be support as I mentioned above. If she continues higher, looking for a target of 25,200ish. I expect a bigger pullback coming in the next few weeks. As always let price discovery be your guide :-).
CBOT_MINI:YM1!Long
by PriceLevelTrading