RedKTrader

RedKTrader

Been a while since i posted a chart reading. so here's a fresh one - with a question at the end... cause honestly, i don't know :) This is an interesting view of the NASDAQ - using a monthly chart of the NQ1! - showing the market action since the famous 2008 drop - with an attempt to find some sort of a trend or logic to how the market moved along the...

RedKTrader

Been waiting for this scenario to unfold for couple of weeks now. here's an updated view from my prior MSFT post (linked below) - i'm sorry if it looks too complex with all the on-chart analysis this time, we're zooming in to the 4hr chart as i was curious to compare this move to the prior one, and they seem very similar MSFT dipped below $322 in pre-market...

RedKTrader

Quick chart reading for AAPL, and our possible entry below $150 - $155 is our ideal "buy the dip" level - as shows on the chart - and a repeat of the previous cycle of a 10% upside. was a good trade. the curious thing, this is very similar to the scenario expected from MSFT, that i just posted - also an around ~10% drop from the high - and a similar ascending...

RedKTrader

MSFT quick chart reading and a possible scneario that can provide a nice long entry at around 10% discount from the highs. We're setting up for a repeat of that zigzag trade on MSFT on the ascending channel - if the expected scenario unfolds - bottom fishing season is on :) - need patience. we look at entery between $322 and $310 .. or we can scale in with an...

RedKTrader

just a quick chart reading here - as we see from the last few bars, the market seems to be looking for a reason to slow down and consolidate - back to the 100SMA (dark blue line on the price chart) we have seen this scenario before - in the previous reading (linked below), the market respected both the channel and the 100SMA and reversed from there - after we...

RedKTrader

This post is dedicated to exploring and reviewing key concepts specific to configuring technical indicators - these concepts may be obvious to those who have been doing charting and technical analysis for a long time, but hopefully useful to some who are new to charting and the world of technical indicators. Also once we are familiar with these concepts, we are...

RedKTrader Updated 

Q3 Earning season is approaching fast Background: The earnings covered call volatility play ------------------------------------------------------------------ one of the easy earning plays if you hold a portfolio of stocks (or if you're a fan of the wheeling strategy) is to sell Covered Call (CC) right before the earnings announcement - when the volatility is...

RedKTrader

This is a quick chart reading for MSFT that shows a possible scenario for calendar Q1 2022 using the weekly chart - The key assumption here is that MSFT will continue to maintain the same ascending channel that's in place for the last 3-4 years (excluding the COVID effect between Feb-April 2020) - there are 3 price levels to note: $330, $345 and $375 -- Target...

RedKTrader

A fellow trader alerted me that my previous AAPL chart reading is too unreadable :) - so here's a fresh, cleaner chart reading showing only the price chart - no complex indicators - using the weekly view and marking what i will be closely watching in the next 3 months - and possibly a trading scenario (long) - this scenario is still inline with the previous one .....

RedKTrader Updated 

Our previous chart reading for AAPL was a good one - we hit the buy zone, 2 projected target price levels, and sold on target. when this happens with a chart reading and a trading plan, it's awesome !! although the over-bought condition extended and tried people (buyers) patience (and FOMO) i'll link the previous chart reading below for review if needed if AAPL...

RedKTrader

Want to make your RSI smoother and easier to track and follow its signals? You can add a moving average signal line to it. Let me share how to do this quickly without coding. This is a very neat and easy trick you can do - thanks to TradingView :) - using the feature "Indicator-on-indicator" Quick Steps: add RSI to your chart if its not already there, hover on...

RedKTrader

Recently I posted updates to both my Strength of Move (SoM) and the Trader Pressure Index (TPX) indicators as promised, i'm sharing this post to share how i use both of these indicators together as i trade, and how they act differently but complement each other. Please note that these are only my own (humble) thoughts, based on how i thought about and designed...

RedKTrader Updated 

* this is a pure chart reading (analysis) for NKLA and expected scenarios based on price and volume action and what the indicators tell us - has nothing to do with the fundamentals or how the business itself is doing. Daily Chart: - NKLA has accelerated in the past few days with (couple of days showing) large % moves supported by big volume (almost 2x daily...

RedKTrader

I love AAPL. Many of us do. Been a while since I posted a chart reading for AAPL .. maybe since the split ? here's a quick chart reading for AAPL using the 1wk view (apologies for the crowded chart - i wanted to show all recent price channels as well as the target zones) * A new price channel is forming. that's initially a good sign. * If that channel remains...

RedKTrader Updated 

solid earnings for MSFT - the market reacted in a neutral to slightly-negative way - possibly because MSFT was already at the top of its established price range / channel and there was no big "WOW's" in the earnings .. other than a continuation of a "strong business story" - that the market didn't find extra exciting. but that "rotation" is actually a good thing...

RedKTrader

Today was bloody with NASDAQ down 2.7% -- these are the days i don't want to look at the charts (or my broker account screen!) Chart Reading: -------------------- - the chart shows that this is still not the end of the down move or the short-term weakness - on the contrary, the channel has just been breached to the downside. - the projected measured move shows...

RedKTrader Updated 

For those of us who like to leverage the awesome charting capabilities of TradingView to visualize, analyze and track a portfolio of holdings, i wanted to share couple of ways i have been using in the past few months. I found that the ability to "chart" a portfolio adds a whole new dimension to my decision making - that looking at the portfolio in numbers on...

RedKTrader Updated 

Quick Intro =========== Regardless of what type of trader we are, most of us will look at the same chart in different timeframes to help make the "case for a trade". The risk of doing so is that we need to understand the fundamental concept of Multi-Timeframe Scaling (let's call it MTF scaling) as we inspect the various timeframe charts of the same underlying,...