EliteTrader101

EliteTrader101

Prices dropped back down to the demand zone and a 50% retracement and had a liquidity clearout of all the hammers. Using VSA prices came back down to test the ultra high volume hammer and the result is low volume which means the supply has dried up and prices should reverse. Target is the VWAP and trendline after it triggers all the buy stops. If the week...

EliteTrader101

This is looking more like Black Monday in 1987 where the first two days were down days, then on the 3rd day it dropped like 20%. If this is the case then we may drop to either of the VWap levels. As the price of Crude rises, other countries like China will have to sell bonds, then US dollar will rise and finally equities will have to fall. It won't make sense...

EliteTrader101

This Trade setup is called a 333 trade because it has 3 legs down and the 3rd leg has 3 bars down on these 3 month charts. I'm expecting a large final bar down over the next few days/weeks. It may end on 3 days of drop like it did on Black Monday, where the 3rd day had a 20% drop or it may last for a week or two.

EliteTrader101

Bill Ackman posted that he covered his shorts today, so prices pulled back down to retest last week's high. I predict that it will continue up vertically as a short squeeze.

EliteTrader101

Last week was a bearish engulfing candle on high volume so it will continue this week. After 3 days of drop, prices reversed to hit some stops then continued down with the trend. Target is Gap fill

EliteTrader101

Based on how Bond yields are starting to rise tonight and how the US dollar is going to explode sharply higher without much resistance to the left of the chart, I predict that prices over the next 3 days will collapse all the way down to the demand zone. There was a guy on youtube explaining how the global financial system works and that China and Europe will...

EliteTrader101

The weekly chart of SQ showed a strong rejection of higher prices at Vwap with an increase in volume and if history is to repeat itself and we have a huge move down like we did on October 19, 1987 then I see prices going all the way down to $10 next week. Its possible for a move of this size because SQ did drop this much on the week of May 9, 2022. The $10 target...

EliteTrader101

Price action and volume tells me that there is no demand at this level so price should drop lower down to just above $30 where it may bounce again. With this conflict going on in the middle east, prices may just blow through this support area down to $20.

EliteTrader101

I see a clear Head and shoulders pattern forming which would take prices down to the even number of .70

EliteTrader101

GDX formed a Head and shoulders and the measured move takes it down to the demand zone and the lower channel. I think it will get there in 3 weeks by Oct 20

EliteTrader101

the 3 month chart of Vix shows that it spikes up when it touches this level plus October is when corrections happen according to a lot of media because of Black Monday on Oct 19, 1987. We're in for two weeks of quick drops so a lot of money can be made using short term options knowing this information. I personally had 1000 puts on SQ, but a few hundred of them...

EliteTrader101

Using Volume spread analysis, I can clearly see there is a huge weak effort vs result in the volume spike bars and a No Demand bar at the top followed by an upthrust. So there is no more demand at the top so the sellers are marking down prices aggressively on higher volume. To find a potential target, I'm using Volume Profile. Prices may pause at the low volume...

EliteTrader101 Updated 

Based on recent patterns, this is the most logical way TSLA will reach $400. Smart money is using the range to build up position size for each move, trapping retail traders in the wrong direction. Retail traders buy on a double bottom, but smart money likes to push prices lower to hit their stops so they could load up on their buy orders, that is why the spring...

EliteTrader101 Updated 

This should be the final Gap up that will close the gap, which is also the liquidity clearout at a Supply zone. The move down will probably begin with a gap down on Friday to fill the gap 2. This seems to be the recent habits of TSLAs smart money traders such as the big boys at Morgan Stanley. If you study one stock carefully, you'll learn the habits of these...

EliteTrader101

SQ has been in a range for about a year and has finally gapped down below all support on volume. The CEO stepped down so that's a bad sign for the company. The last two weeks of Sept and the first two weeks of October are sometimes down months so the odds are good that it will drop pretty fast over the next four weeks. Fibonacci extensions show $10 as the low...

EliteTrader101

Retail traders will short at this upper channel when they see the upthrust bar, but they are actually going to be providing liquidity for Smart money who want to sell the rest of their positions and go short without marking down prices. If I'm smart money, I would put out an article that will cause prices to gap up on the open causing all the stops to trigger. ...

EliteTrader101

I was short and I got cleared out today, so now this is the perfect setup to provide liquidity for Smart money who is going to be selling at the supply zone, absorbing all of our buy orders. We shorts are getting squeeze and breakout longs are joining in providing lots of liquidity for the big players. Looking at the weekly, Tsla is in a sideways range and will...

EliteTrader101

I was too busy looking at shorter term charts that I forgot to check the long term charts. There was a W pattern with a target of $350. Last month was a hammer so this is a valid breakout of that hammer with VWAP supporting this move. I was scrambling to cover my shorts and going long adding more buying pressure. Other traders will be doing the same. This...