Spike at the 50%I've been watching for a setup on a lower timeframe to confirm the Daily 50% level. See last post for the broader Daily view as to why this level is significant.
Spike-trading
Hedging with short JPMWhen the market reached a (new) All Time High earlier today I wanted to get some short Delta in my positions. I learned my lesson during the 'recent unpleasantness' bottom of 7/19 that being all net long puts one at risk of volatility in a portfolio... even if the positions themselves individually remain strong and profitable.
This morning's volatility setup a good short entry on NYSE:JPM that by looking at futures this evening should hedge against tomorrow's potential downside.
Hedging with short DVNWhen the market reached a (new) All Time High earlier today I wanted to get some short Delta in my positions. I learned my lesson during the 'recent unpleasantness' bottom of 7/19 that being all net long puts one at risk of volatility in a portfolio... even if the positions themselves individually remain strong and profitable.
This morning's volatility setup a good short entry on NYSE:DVN that by looking at futures this evening should hedge against tomorrow's potential downside.
Earnings are close so I may need to de-risk next week before.
Digging the price action on PENNNASDAQ:PENN was not on my immediate watchlist but I happened to notice the price action from last week giving a second solid rejection of the Weekly 50% Retracement. See below for swing timeframe spike...
UBER Price Action AnalysisI was looking at a trade today for a member of my social media. NYSE:UBER looks to have stalled at 52.35 which is right at the 50% Retracement of the recent down move. This if following a retracement of the last bull trend which was around the same zone as the IPO first weeks' price action highs. Price could in the short term retrace down to retest the 5/10/21 low but would remain bullish as long as that low holds. Breaking the 6/28/21 high would be a sign of a bullish breakout.
Spike or Tail [BTC/USDT]Not a financial advice
On the 4 hours chart, BTC just had a tail in candlestick which oftens mark a short term turning point after a price run or decline. BTC might touch he 36K mark again.
DPW could spike to $15When the yellow lines converter with the uptrend, with some news around earnings it spiked before: the lines are now coming together again around upcoming earnings.
Looking for a technical spike after the long squeeze, on high volume, after it goes above the 50DMA.Historically it did this before multiple times.
Also there's a gap above 15.16 so it could gap up to 23.44, and with very high volume even higher.
Basically PT is 10.94-15.16
Should be scanning ETFsCome Monday going to look at a position in XBI (if it has not gone too far). Pulled back and spiked at the Weekly 50% Retracement that matches with prior price action. Stop needs to be just below the low of May 11th.
The industry for this ETF is Biotech. This should make Cathie Wood happy.
Gap before EarningsNYSE:GPS fired off a bullish signal this morning at a support level that fit my rules for a long trade entry. I'll be watching this closely through the week as the stock has Earnings on 5/27 which can be a maker or breaker of a great trade.
WEC Resistance turned SupportNYSE:WEC triggered a volatility alert this morning. The level it is at is a former Resistance that has been turned into confirmed Support. It is worth a long trade off this level.
SPY Sentiment Signal BearishEvery day I scan the market for individual stocks within the S&P 500 index AMEX:SPY for short term volatility either bullish or bearish. I have begun compiling these signals into a derivative indicator. This morning's score was a -11. The last time the indicator signaled -11.20 was on 4/16/2021 which preceded a few days of downside in the market. This morning's price action made a slight try to get up and test the All Time High but seems to be failing. The first part of the day's down move has retraced to the 50% Retracement level of the day. It is worth taking a short here to test my signal, play the day's price action, and benefit from an asymmetric reward/risk. A failure to retest the last ATH could have much downside.
Autozone Post EarningsNYSE:AZO triggered a spike alert this morning on earnings announcement. Price action is at a support and worth a buy to play back to the top of the range and beyond.
As an aside, used car prices have increased dramatically in the last few months due to the shortage of new car inventory coming to market. Some of this is due to material costs and companies like Ford NYSE:F have been reported to be having backlog due to computer chip shortages. These market forces are compounded by inflation.
HUM Post-earnings pullbackNYSE:HUM Humana's post earnings run-up has pulled back to a 50% Retracement level and held this morning along with a volatility spike.
MU Triple Top inside Triple TopI like the price action for a bearish play on NASDAQ:MU . This morning spiked to make a local triple top which is also creating a Daily timeframe triple top.
This is a good example of using Multiple Timeframe Analysis as I talked about in my last video idea, linked below. We are using a short term timeframe setup combined with a higher timeframe setup.
Options also have very good spreads.
VZ low risk swing tradeNYSE:VZ Verizon spiked down this morning to a 50% level. It is worth a small risk trade to play back up the dividend catalyst dip from last week.
DRE triple top plus double topHave not seen a trade I liked in too many weeks but this morning NYSE:DRE setup a 30m timeframe triple top at 43.07. This also matches closely with the stock's ATH back in November. It is worth a swing trade short shares setup. Unfortunately options liquidity is scarce.
HIVE/USDT Update: All targets are fully reached >450%HIVE just spiked and did reach our last target set at 450% from our entry.
So enjoy and and have fun.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
Helplines:
- Purple lines are trendlines we take a look at.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
ATM/USDT Update: Fully reached our >100% TargetATM had a good month and reached our target.
Since ATM is out of champions league I guess we go down within the shortterm.
That's why the re-entry box is that far down.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
Helplines:
- Purple lines are trendlines we take a look at.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
PSG/USDT Update: Fully reached our > 100% TargetPSG had a great run mainly because of its champions league victory.
I guess it stays that way that in case of a win we go up and in case of a loss we go down.
A bit like casino.^^
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
Helplines:
- Purple lines are trendlines we take a look at.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
ASR/USDT Update: Fully reached our >100% TargetASR spiked as expected (a bit higher than expected) and is currently consolidating above previous resistance.
If this previous resistance turns into support one can see this as a good re-entry as shown by the box.
Keep in mind that this trading pair is very illiquid and likes to spike and drop.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
Helplines:
- Purple lines are trendlines we take a look at.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
