NASDAQ:TSLA On the 4H Chart, TSLA is at the resistance of the SEll orders @ $ 924 with a Doji Candle. TSLA is looking to reverse the trend and head down to 860 or beyond to 720. Terminal RSI divergence hints at the reversal as does the increasing Choppiness Index. A stop loss set at $1.00 above today's high seems reasonable and yields a low risk for the...
WMT beat earnings by 10% and has been upgraded for targets as a result. The chart shows heavy relative volume ( 4X the running average) reacting to the earnings. WMT has a 10% upside to the resistance of sell order blocks above. WMT is now set up for a long swing trade with either the stock or call options at an expiration a bit before the next earnings.
From the Daily Chart, QQQ is now in an uptrend above the support of the daily SMA 50, 100, and 200 in somewhat of an ascending wedge pattern. Distant support is the buy order zone while distant resistance is the sell order zone above. Immediate ( and breakable ) resistance is the POC of the volume profile. I conclude that QQQ is in a sustained up-trend that...
NASDAQ:TSLA TSLA has hit heavy resistance on the 2H chart as it came up on the heavy sell order zone and the POC of the volume profile TSLA reacted with Doji candles demonstrating buyer versus seller push and pull dynamics The RSI is decreasing with a rise in price showing divergence and suggesting TSLA is about to roll over. The Choppiness Indicator is...
Today a bunch of cannabis stocks showed up on my screener with some good price action and high relative volume. I set up a composite chart using some of the more heavily traded stocks but no OTCs as well as a couple of the ETFs and the REIT IIPR which manages and leases indoor cultivation farms. While I found the composite price had been drifting...
NASDAQ:TLRY TLRY had 10% price range today' and finished with a Bullish Pennant on the 15-minute chart. Accordingly, it is set up for an entry for the long continuation. TLRY showed momentum today by breaking above the double top in the price action last week. The uptrend is supported by bursts of relative volume beyond the moving average of volume.
OANDA:XAUUSD The chart shows the pattern forming awaiting the completion of the handle. Cup indicator calculated radius /depth. This supports an uptrend for XAUUSD overall although it may downtrend in the short-term in the handle formation. Horizontal resistance lines are drawn to use as targets in a tiered closure of the intended trade. I will watch for...
AMEX:BOIL BOIL is the #X leveraged ETF for Natural Gas while KOLD is it inverse. On this 30M chart I setup the ration between BOIL and KOLD. This is to find precise swing entries without a lot of work for those only trading part time like myself. At the highs, BOIL has peaked relative to KOLDAccordingly, this is the time to exit BOIL and enter a position on...
OANDA:XAUUSD The 15N chart shows spot gold in a downtrend in the London market. It will soon hit sell orders accelerating the downtrend into the buy order zones. I believe that it will reverse and trend upward to the overhead sell orders which are at 1798 for one percent of upside. This is my idea for a day trade of XAUUSD on the forex market first the...
TSLA ascended in a channel after earnings then stalled. TSLA is now bound in a horizontal channel with sell orders as resistance and buy orders stacked at levels on the lower trend line. My idea is to watch TSLA for a bounce-off resistance then taking a put option with a narrow expiration below the money and exit the trade as TSLA approaches falling resistance...
NASDAQ:AMD AMD had a good run into the earnings season however news is that with the expected or present recession semiconductors as a subsector will fall a bit heading into the third quarter. The chart shows buy order blocks as a support are far less than sell order blocks. The MACD , a lagging indicator, shows the K/D lines crossing over the...
USDJPY is now trending down on the 15M chart. Three indicators provide confirmation. I will trade a day trading short on USDJPY when I see a candle open and close below the POC of the volume profile on the 5M chart. The stop will be two pips above the POC value. Targets are the horizontal S/R drawn to the chart. Please comment as to your opinion on this idea.
AMEX:YINN YINN is now in an uptrend with an increasing cloud score and upgoing BB boundaries. Stop Loss at the double bottom while the first target is the recent consolidation period with about 15% upside to that take profit and about a 2.5 Reward to Risk All this makes YINN a candidate for a swing long trade
OANDA:XAUUSD The chart shows a reversal in SPOT GOLD since July 13th and the latest round of CPI/PPI data showing the continued onslaught of inflation. Gold is rising while the dollar strength is dropping as per the DXY index. This all makes sense at least to your average person who is not an economist. That said, XAUUSD has a bullish bias as a hedge against...
OANDA:XAUUSD The MONTHLY chart shows the ratio between the spot gold price and the US inflation rate. While overall, the ratio is quite stable or consolidated for a period of more than 15 years. Hpwever. y three episodes are noted where the ratio rose parabolically including 2009, 2015 and the Covid 2022 time period . For the present, the RSI Swing Indicator...
SP:SPX With the ration at a top as suggested by looking to the left and the RSI pivot indicator, a strategy might be to exit stocks and buy spot gold. An alternative view is that they both might be about to downtrend but that gold will downtrend slower causing the ratio to drop. Please comment as to your opinion. Thanks !
OANDA:XAGUSD Silver ran up hard to close the week. The 10R shows the supply and demand zones as well as RSI pivot and the volume profile. Essentially Friday afternoon's close forms a double top with the high from the previous morning generating a reversal pattern. I think Silver is due to correct and reverse. For the short setup, I will set a stop loss...
OANDA:XAUUSD From the 1000R char, I am thinking about taking a short trade with a stop loss of $1808.25 above the high on 8/10 and a target just above the volume profile POC at $ 1788. Given an entry price of $1802 risk of $ 6 for a reward of $ 14 ( 2X). Please comment offering me your opinion. Thanks!
