davidphudo

davidphudo

Here's the thing, Indexes are freaking crazy. Everyone knows it and quite frankly, 2020's run was insane! Markets don't normally move at that rate of increase forever. What I'm seeing is the market has been completely over bought. Watching it kind of prep for a retracement is interesting. I had expected it to retrace already but I think it's try to extend...

davidphudo

Honestly, cryptocurrencies 100% moves in triangles. It has when I traded it from the start and it continues. These days, I do more Fibonacci analysis and right now it's showing a move to 1458. What for levels of Fibonacci Channels and take early profit. Then we watch for either a retracement or another wild push.

davidphudo

Continuing with finding as many connection points as possible with Fibonacci Retracements, we are looking to see BTC move potentially to 42285 if it can break the higher Fibonacci Channel about $36.6k. The fast retracement point confirms a Fibonacci level which we can use and now we watch for a test a break of 0.236 Fibonacci level.

davidphudo

Bitcoin has been having quite the run. We can do a Fibonacci analysis on it making sure we set levels at areas where we see testing and lots of channeling. From here, we can see Bitcoin has an upper range to $36k. You should always exit slightly early so I would target 35,945 to take profit. The yellow line you see drawn becomes your stop loss if you want to...

davidphudo

I like many traders have come to look at the SPY run as a freak of nature. I'm not sure how something can happen when economically, it doesn't make sense. The world operates differently than I expect...

davidphudo

If you do a lot of Fibonacci charting, it's basically trying to find the levels that match. Initially, I had it set as 38358 as the take profit and then you watch for a retracement. The retracement ended up failing so you can re-enter and watch the retest of the 0.236 level but things are lining up to to to 36k.

davidphudo

You know everyone tells you to always invest in indexes but I honestly trust Fibonacci when all the levels start to match up. COVID shot it down to 218 which confirms a level and we are right at the high of the Fibonacci. I'm looking to short this down to 300. Go against the S&D isn't always recommended but let's face it, it can keep going up forever... or can it?

davidphudo

NIO showed it was holding levels on this lower Fibonacci level. We really want to see a reversal but ideally a break above 49.12 and a confirm retracement and bullish signals to get back into NIO. Some will be tempted to get back in early, I say, don't be greedy, wait for high probability.

davidphudo

DIS looking to run up to $181 at which point, it's good to short round 179 but you'll have to wait.

davidphudo

Square has gone to the top of the higher trend line as well as a Fibonacci Retracement which has been extended to match key levels. Looking to retrace down to 177 and possibly 150.

davidphudo

SQ is at the top of my Fibonacci level, looking to see it retrace down to 178 and possibly 151.

davidphudo

I know a lot of people trading NIO and I sold mine at the high. With it playing at the lower trend line, we need to see a bounce else, this stock can move a lot lower into unknown territory.

davidphudo

In my opinion, Fibonacci anything works very well in markets. Contrary to popular belief, support and resistance lines are not fully realized when you draw horizontal lines. You are missing a key element which is time. So when I chart currency, what I do is go to the weekly and look at the full time scale. It's a matter of then drawing the Fibonacci...

davidphudo

XRP looks to be compressing. We need it to drive up to 0.92 at which point it's bullish to about $2.

davidphudo

Seeing ETH gaining momentum to the upside. You can Fibonacci this thing up, projected high of 1144 so get out around 1100. Wait for retracement to 741 once that happens.

davidphudo

With MRNA looking to be a successful vaccine, I'm putting MRNA price target of 227.90 of course with an exit around 225. Looking for a breakout of the symmetrical triangle for entry tomorrow.

davidphudo

XPENG made a huge run this year and finally did it's third pullback on Elliott Wave. It's hovering around the 0.236 retracement and we not wait for volume as well as a bullish entry candle to continue trading upward. Look for volume some time around November 30th.

davidphudo

CVS with such a big hype on vaccine distribution may be a stock to trade. The only thing is technically, it's not great. On the weekly, it has to break out of it's downward trend to confirm bullish behavior. We are most likely to wait until next year to see if things improve for CVS. I'd like to see the stock trade above $72 to go bullish.