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Spike-trading

Why I called the top of cryptoToday as the volatility calms down on the recent failure to reach the All Time High on BITFINEX:BTCUSD I take a victory lap to share WHY I called it as I did. It's not an exercise in ego or ask for people to follow me. In fact, don't listen to me and don't follow my trades... do your own analysis. What I want is for people to learn from my experience as I share it. I look for short term instances of volatility as signals. I do NOT do price forecasts any more in my career. They never seemed to give me an edge. Cryptocurrencies discussed were the ones I posted about before their moves in Bitcoin, BITFINEX:LTCUSD , and BITFINEX:XRPUSD .
BITFINEX:BTCUSD
by norok
3
SPY trade off the 50% retracement of the weekThis afternoon after 1pm in the "zombie hour" there was actually a great trade on AMEX:SPY . I missed it because I was at the gym when the signal came in but I wanted to make a video about it for my own posterity as to what makes a "GOOD TRADE!" What made it a good trade is that the reversal signal occurred right at the 50% retracement of this week's big price action from the High of Monday's open to the Low of Tuesday's open. So far it seems as of today Wednesday we bounced off that level and established a smaller range which I'll be watching. This is going to be compiled as an example of why I think looking for SIMPLE 50% retracement levels in price is one of the most powerful tools for finding Support/Resistance for profitable and high probability trade entries and exits.
AMEX:SPYShort
by norok
4
DisciplineNASDAQ:AKAM and NYSE:THO I took three weeks ago. I have checked my signals in thinkorswim every morning diligently at 10:00am. That's my job. I have not found a single trade that fit my rules to take bullish since September 17th! My two that I took on that date were NASDAQ:AKAM and NYSE:THO . AKAM and THO both pulled a 3:1 on 75% of my positions, AKAM's remainder I closed when it got below a key level, THO continues to run. Every day that I do not find an opportunity comes with a little bit of trepidation. "Is thinkorswim's scanner code broken this morning?" "Has the strategy lost some edge?" OR... "Is my strategy just performing as intended and keeping my trades long and short in sync with the market?" I like to believe the latter and based on the timing of the two longs I did take it did help me capture this last bullish run up to resistance on the AMEX:SPY and market as a whole. So I wait... and reserve my capital for OPPORTUNITY and FOLLOW MY RULES!
NASDAQ:AKAM
by norok
Loving Tradingview!Negotiated with the good folks at Tradingview to allow me all the alerts I need as part of my subscription package that I can now use the platform as a signal service to cover all the markets I want with my custom built indicator and system. I MISSED this alert on the first night I put this into place because I went to bed but it validates all my hard work in coding, backtesting, forward testing, and coding some more to make a trading system that is MY OWN! It's a new chapter in my Spike Trading strategy!
by norok
1
Market getting toppy? Lots of bearish signalsI primarily use TDAmeritrade's thinkorswim platform to trade and I am starting to notice that their intraday data integrity is far better than Tradingview. I use thinkorswim to generate my morning alerts for "spikes" and the bars in the platform are very different from TV. Regardless, the number of alerts this morning gives me a hint that the market is getting a bit toppy today. I had 2 Limit order profits hit and closed 2 other bullish trades manually. I went short AZO and ALL on signals. Here is this morning's list for posterity. This many data points should yield some statistics on the signal. AGN ALL AMGN ANTM AZO BDX BMY BR CDNS CPB KMX CME CMCSA GLW DHR DRI XRAY ETR FE FCX AJG JKHY HLT INTU IQV LVS LYV MKTX MMC MDLZ MCO MOS MSCI NDAQ PFE PPG PGR DGX ROST CRM SRE NOW STE SYK TMO TRV VRSK DIS XRX ZBH
NYSE:AZOShort
by norok
CAD signaling a reverseAlerts went off this morning on the CAD pairs (USDCAD, EURCAD, CADCHF) with some intraday price action. Price spiked up on these pairs (down in the CAD) for the first part of the US session only to slam back to below the session opens. I'm going to play this as a confirmation of the countertrend pullback within a full reversal of the CAD's recent run-up. I want to play the move down to a target around 1.38 on USDCAD; the 50% retracement of the run-up.
Short
by norok
1
Smarter than Buffett?"Delta plunges after Warren Buffett's Berkshire Hathaway slashes its stake" is the morning's headline following the announcement. As investments I don't know why anyone would want to own airlines. They are too exposed to all kinds of risk... world economic factors, energy, terrorism, and now plagues. But to trade airlines... the contrarian in me combined with a price action alert makes me want to test for an opportunity. Earnings are this week and I do not expect anything they say to help or harm what is already known; that Delta is burning through a whopping $60 million per DAY! So while there is some earnings gap risk I'm going to keep my position small and exploratory. Let's see if this is the double bottom of the Daily.
NYSE:DALLong
by norok
3
Potential trade setup: EUR/AUD analysisAs previously mentioned EUR/AUD has overextended into the yearly highs price region, even though we should be expecting a retracement price can be easily manipulated around this region especially ahead of a lot of fundamentals data from ECB and AUD policy details out this week that could easily be a key driver in market activity. Awaiting for a potential 3rd drive into the highs before considering additional shorts to the targeted region to bounce off the trendline which is in alignment with the 50% fib line.
Short
by danresdidualfx