Read the rulesRules:
Believe that anything can happen - so stay neutral.
Always define your stop loss. Trade with your own risk.
We trade only when price action shows a "reversal pattern" within our predefined zones = "Trend + Zone + Reversal".
This reversal pattern typically will be seen on a minute chart.
Be patient.
Good luck.
(Will "try" to update if in trade).
UPAB trade ideas
UPS potential good shorting opportunityIF this chart pattern plays out it represents a v good short trade opportunity.
Testing 2009 uptrendline and forming a nice looking H+S Top.
Elliott Waves look like an impulse 1-2 and i-i so could be about to go down in a iii of 3 scenario.
Would look to short here with stop above recent wave 2 high or above top right hand shoulder. Target is a lot lower (possible for at least 5:1 r/r over coming weeks/months).
Here's when I'll buy UPSI've wanted in UPS for a while but refused to chase the move higher. Now that we're getting some weakness, I'm eyeing this name for a long-term investment. I'll be a buyer on a test of the breakout level/50% retracement at $86.5. Shorter-term, I expect continued weakness, so there's no need to rush in to this one!
Bounce off $108 resistance, targets $104 supportReally clean bounce lower off $108 resistance level suggests continuation lower towards the $104 support level. Use options to limit your risk by using puts and put verticals.
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Keep an eye on UPS for a bullish playUPS is trading right down to the 200 day SMA on the daily time frame. Look to play the bounce on shorter term trades.
I am looking to go long after we consolidate a week or two between the $112-$113 area with some longer term options.
Here is the weekly chart below. The 100 day SMA is also approaching the green box :)
If the trade doesn't work off the 100 day SMA, I will try the 200 day SMA on the weekly time frame.