X trade ideas
X to test necklineX made a double bottom with a test of the neckline soon. Confluence of neckline and MA meeting could be a long setup. If neckline fails, a good short setup.
Lucy pulled football again.Don't give up Charlie Brown. 28 easy after 24 breaks. Whipsaw headfake on 50day MA crossing.
X- Big Huge Cup/Handle PatternOn weekly X stock, believe that big huge cup and handle pattern is about completed. Will be looking at buying shares and/or selling covered calls soon. PA is at a key reversal area or support on fib. retracment of .618 (holding for last 5 to 6 weeks). How to trade, on breakout of handle with bullish price reversal candlestick pattern (HARAMI, ENGULFING AND/OR PINBAR), support area of $20.00 (which is right now). Remember basic materials, will be stable at this time.
X: Bullish Shark at .618 and Weekly KumoSome positive divergence here on the weekly RSI as well...it has been quite bearish but I believe this might good buy for a bounce at least.
If the trade starts off well and I am up I will likely move to breakeven, especially if the candles are weak.
$18.27 also a spot I will watch
Bounce in United States Steel Corp!Hey Traders I am seeing a possible bounce coming in X. This is a countertrend trade so I have tight stops..
Entry- 21.25
Stop- 20.80
Target- 21.80
This Stock has been under a lot of pressure and investors have been taking there money out. I am looking to buy into this weakness. This is a Short term countertrend trade. Be careful because price will most likely continue down.
OPENING: X MAY 5TH 27/31/31/35 IRON FLY... for a 2.23 credit.
Metrics:
Max Profit: $223/contract
Max Loss/Buying Power Effect: $177
BE's: 28.77/33.23
Theta: 6.1
Delta: -1.06
Notes: Earnings announcement today after market close. Will look to manage at 25% max.
X US STEELAnyone else looking at this as a low risk buy. Watching X to hit $21 for a buy at the trend line. Risk 1%, if it drops below, sell . If it bounces like previous times it could be a good % gainer.
X - Going Up! It has reached the bottom of all it's band on the short term charts. A rally should be about to take place over the next 3 days.
Lets see what happens
