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Spike-trading

Solana Spike at SupportToday on social media I was asked "what cryptocurrencies can be used to mint NFTs other than Ethereum". Solana is the second most popular. I was checking Solana BITFINEX:SOLUSD on the daily and I do see a spike trade setup on that timeframe. I wondered why it did not fire in alerts and it is because the ATR Clearance is below the threshold (70%) so it is not one I would trade by my qualification rules. SOLUSD spike is happening at what looks like a support for now. The good reward/risk trade was long from 86.27. If it breaks the stop level... that's bad... so you know where you're wrong and price could fall into the uncanny valley of risk .
BITFINEX:SOLUSD
by norok
2
No One Looking at PALANTIR - Google Buyout coming?True opportunity comes with NO ONE IS LOOKING! Once market participants have written off an instrument as a bad investment... that tends to be the bottom. Palantir NYSE:PLTR has mostly fallen off the radar of most traders and investors as most that bought it in 2021 during the SPAC craze are underwater. There have now been some interesting developments with Palantir specifically with a Google Artificial Intelligence entering into a partnership with Palantir. The best advertisement is a rising price. You can be sure if Palantir stock recaptures $20/share the media will look back and point at these events as the "reason." The OPPORTUNITY was really on March 15th and I posted my trade then. This video shows what true technical analysis opportunity looks like and why investors need to leverage trading skills to find the best entries for long term investment opportunities.
PLong
by norok
10
Market at KEY Resistance TodayThere are signs the recent rally may be stalling. The S&P 500 Index (measured by futures CME_MINI:ES1! ) has retraced to the 50% of the ATH down to the 2/24/22 Ukraine invasion low. This morning there was a spike on the open to give confidence that this is in fact a resistance (see below). Sentiment wise I am taking these price action signals as confirmation this is Resistance. This price action sets up a short trade with a stop loss above this morning's high and a target at the 50% of the recent rally to around 4300. It is well within the character of the market over the last 3 months that it could come back to retest the FOMC levels.
CME_MINI:ES1!Short
by norok
3
Palantir at Last SupportI have been watching Palantir closely since the February 24, 2022 spike low. NYSE:PLTR was a darling of 2021 but has fallen victim to the "Pandemic Round Trip" like many stocks. The $10 psychological level has so far held with afore mentioned spike and today there was short term price action (see below) above $10 that may confirm a low risk entry. I have decided to take this trade for the long term with far out January 2024 $30 Strike Calls. If this is a long term bet then I should use my imagination.
PLong
by norok
Trading Patterns That RepeatLast week's price action of the stock market gave a textbook example of one of my favorite and fundamental trading patterns; that of the false breakout reversal. On the longer term Daily timeframe both the Nasdaq and S&P 500 setup this pattern with the February 24, 2022 spike to break but then recapture the January 24, 2022 low. We do not have to wait to see how this might play out. My trade on Waste Management NYSE:WM was based on this exact pattern and as of today it has reached the 3-to-1 target. It is fascinating and very profitable to accept and recognize that these patterns can and do appear on all timeframes and on all instruments.
NASDAQ:QQQLong
by norok
4
Buy the Dip? The stock market just did THIS!One of my must trusted signals for false breakout opportunities just triggered in the stock market on both the Nasdaq NASDAQ:QQQ and S$P 500 AMEX:SPY . If you are a regular viewer of my content you have seen me talk about this setup before as it is one of my most trusted fundamental strategies of my trading. Win or lose THIS signal we got on the Russia/Ukraine FUD is going to go down as a textbook example I will use to teach the setup for months and years to come! I am super excited to share with my viewers in real time!
NASDAQ:QQQLong
by norok
7