0LJ9 trade ideas
History repeating? Bullish run starting once again for XBullish longterm bias for steel
looking for a breakout of the current handle to complete the next move up but this bullish move can only happen if china trade tensions are still high and steel is limited
X (U.S. Steel Corp) cup and handleAdded 2/3 position in calls already. Dip to 20.94 possible, will add third batch then for breakout
BUY $X PT 30 SL 20
Bullish Long Term Call Option Flow - pbs.twimg.com
Steel Shortages
About to break critical resistance, January Highs
Now above 8/21 EMA
Recovery play
Hard to put a cut loss on this because the support is so far down. Excellent support at 16.
The post COVID era Sentiment I always try to present the charts in a simple comprehensive format to prevent any confusion.
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X forming a strong upward Trend.an interesting correlation with spy, but with its own idiosyncracies. broken some resistances while climbing through that channel.
X consolidation BreakoutI remember trading this at 10 over the holidays. should do well with upcoming infrastructure funding.
Purple box - Consolidation
Green lines - Fib targets
Stop loss - 20$
MACD -Bullish
RSI has room
MFI has room
VOL increasing
My only gripe is it's sitting at the top of bollinger bands right now which could me a 1-2$ in the next couple of days then a continuation
[ X ] United States Steel Corp short call vertical spreadLazy day, lazy trade.
My Iron Condor Hunter script indicated a potential iron condor for this instrument for the 12 - 23 range.
Let's check for the best setup for this signal.
(1) Basic TA to background check
After a quick TA I judged it too risky, because it limiting the downside potential correction.
The script indicated good ranges in the past 4 years, but now I'm a little bit hesitating about the downside move limit.
The script shows me 12$ as secury bottom target in the next 30 days, but the lowest low may be ~10$, based the green trendline
(2) Murrey Math levels
-1/8 and +1/8 are used for some kind of attempt to catch a trend reversal. -1/8 is an extreme support level during a bearish trend , while +1/8 is an extreme resistance during a bullish tendency.
A test of these lines indicates that the current trend is weakening. As a rule, the price doesnโt revers here and starts corrections towards 0/8 and 8/8. After that, the previous trend resumes.
On the weekly perfectly fit to my Murrey Math Lines Auto +1/8 script.
(3) Daily divergence
Divergence on daily chart , without any more comment..... Indicated local correction.
Breaked down my custom oscillator => correction validated.
CONCLUSION :
Modifying the strategy from the originally planned Iron Condor to Vertical Spread.
Sell 1 X Apr16' 21 call
Buy 1 X Apr16' 23 call
Max profit: ...... $80
Max loss: ......... $120
IVR: ................... 18.3
Probability of Profit: 73%
Expiry: .............. 45days
Strategy: Short call vertical
Risk management: I'm closing the trade immediately - if the daily bar closing outside my strikes - and I'm cutting my loss. (no matter what I'm believing)- usually I'm losing mutch less than my max profit in this case. Danger zone starts at 20.28$
Profit management: I'm sending an order at the 50% of max profit, immediately after my position opened - as usually.
I love you but it time. Us Steel, its been fun. We had lots of sex in the back of 7Elevens. Enjoyed some cocaine in casio bathrooms. But its time to short you like some Biotech penny stock getting pumped by Cidadel. No hard feelings, its more me than you. But once your divergence shines again. ill call you at 3 in the morning drunk on old english and wreaking of strawberry vape juice. Then ill ride you like the titanic, end prematurely and seaman going in every direction. So thanks for the memories!
X Putting in a TopGross price action in X. This is a clean head and shoulders topping pattern. Steel stocks look atrocious. This would be a top pick for anyone looking to short next week. I do not have a position.
the juice isn't worth the sqeeze.This is a trade that completely failed my previous projection. no real bearish divergence but daily head and shoulders makes me nervous. im out for now.
X-menReversal Play
Reward/Risk: 6.5/1
Entry: 17.24 or at a lower price
Stop: 15.50
Target: 25.00
Options Play: March 19 18/19 Call Vertical
Assuming the recovery continues and we continue to see inflation X might be a great play
Head and Shoulders? Knees and Toes?Hey guys, not much to say here on this one.
See the chart for the Head and Shoulders Set-up. The company had good earnings and some people are screaming it is going to $20/25/30 - we will see what happens.
Always protect yourself and set stops.
Best of luck
X Time To BuyHello traders, I've just purchased X I believe it will make a recovery since the catalyst that drove its price down was the earnings that they beat. The Macd is looking good and the price has broken the trendline so I bought some shares.
Hope you enjoyed this quick analysis and more to come.
X Potential Reversalx
Hello traders, this is my first idea published, I hope you enjoy it and get value from it.
X recently sold off because of upcoming earnings.
X offers a 50% ROI if it makes a full recovery from its current price to its high.
Technical Analysis:
The Macd and the Rsi indicate that X is oversold
And now I am waiting for confirmation of a reversal when it breaks through the trendline and the EMA's crossover I will proceed to place a buy order.
Hope you enjoyed this quick analysis!
XBullish divergence MACD, RED-GREEN crossover 4h, stochastic oversold, blue crossover, strong support.
$X Good HBD on 4h and daily MACD/RSI$X Good HBD on 4h and daily MACD/RSI. Not sure if anyone else in FTM already posted this or not. Would target a previous resistance. Could potentially turn into an HS if it pulls back there. Easy risk management. R/R5
