CENX trade ideas
$spy $cenx Historically a good place to buy and hold100 to 200 percent gain possible over a longer period of time.
Buying aluminum Trump's tweet looks to mark a sentiment bottom in LME aluminum.. Century looks like a low-volume buy in a larger monthly/yearly uptrend. Entry is on a stop out of today's range-expansion sell
Bat with Deep Crab @ 14.50The key characteristics used to identify the Harmonic Bat pattern are as follows:
AB leg can retrace between 38.2% – 50% of XA leg
BC leg can retrace between 38.2% – 88.6% of AB leg
CD leg can retrace up to 88.6% of XA leg
CD leg can also be an extension of between 1.618% – 2.618% of AB leg
The Harmonic Bat is a variation to the Gartley pattern which was developed by Scott Carney. It is considered to be one of the more accurate patterns exhibiting a higher success rate than any other harmonic patterns.
The key characteristics used to identify the Harmonic Crab pattern are as follows:
AB leg can retrace anywhere between 38.2% up to 61.8%
BC can retrace 38.2% – 88.6% of AB leg
CD is an extension of up to 161.8% of XA leg and is also an extension of 224% – 316% of the AB leg
After the crab pattern is established, traders can take their positions at or from point D (at the high or at the low of the price bar at D) targeting 61.8% and 127.2% of CD leg
Notivce the RSI is Deep In the Oversold Area. We are waiting for a double bottom and or divergence to form in or near the the D leg completions of both patterns.
CENX - Pullback of the "Cenx-tury" or No?An ascending wedge has been forming since 2016, and gradually has been building up volatility as more market participants get involved.
Price is very extended here, which signals for a pullback if not a strong downtrend into the lower bound of the wedge.
However, I could be totally wrong and the price could shoot up strongly for a continuation.
Let's see how it plays out, but for now, I am yet again short.
Stop at 23.83
Target at 22.06
CENX move up to resistanceLong here @ $17.50 with the expectation CENX will reach resistance at ~$20 shortly. Stop is at $17.02
Long Bearish DayFollowed by some confusion in marketplace. Suitable for ATM PUT option towards three-month resistance
CENX Shortbreakout fail, people must have entered in this breakout and will look to exit out as close to as
breakeven possible.. short opportunity!!!!
CENX Possible Short playYou know the drill, stock at resistance, if it closes above resistance dont short if it closes below resistance short. set a stop loss close to the resistance incase this guy pokes its head out before heading back down.
Differentview of fib from current highs to yearly lows. Still in the first box. RSI ok, that macd tho.
CENX FibsBeen trading within a box of the first fib retracement for quite some time. If it can just break out. It's trying.
Earnings 10/27/16 at 5:00pmBuy early in day. Earnings will be reported at EOD and have out performed estimates for the previous three quarters of the year.
2-Week Swing to 6.805-month tendency to rally to 6.90-7.00 within 2 weeks. This constant trend is backed up by the upward facing candlestick today
