norok

norok Wizard

Got a signal today on the opening bar of AMEX:GLD spiking out at the 50% retracement of November's price action. This sets up a low risk play back to the bottom and the longer term Retracement level of the 2020 price action around 165.28

norok Wizard

I love to find examples of where my favorite technical level works. NASDAQ:NKLA is a great example of a stock respecting the 50% retracement level from its down move back in September. I didn't play this move but my trade in NYSE:NIO is definitely benefitting from the crash this week in EV. If only we could have seen this coming! See my video below for why I did.

norok Wizard

Last week on November 23rd I took a short trade on NYSE:NIO . I also talked about the trade and the additional confirmation of what was going on in the EV sector in the video linked below. I wanted to have this trade marked for posterity as it was just a great example of the same strategy I use on all instruments and all timeframes. It's very simple... ...

norok Wizard

Bitcoin has rejected the former ATH once again. I can't help but wonder if latecomers' greed is not being punished this morning. Someone asked on one of my other social media platforms "what should I buy now?" just last night. I told them they were better to invest in a time machine. People don't get to win by waiting and only buying now at this critical...

05:29

norok Wizard

Once the hype dies down all the hype traders stop looking at the stocks. That doesn't mean there are no more opportunities. Ignore the hype and stay consistent looking for your setups... even and ESPECIALLY when a stock looks BORING! That's the time for opportunity when no one else is looking!

05:33

norok Wizard

I am getting the feeling of electricity in the air before the storm in the Electric Vehicle market. I don't want folks to be caught sleeping as price action is starting to give signals. In this video I talk about how the news today on NASDAQ:NKLA created some delayed but interesting price action in NYSE:NIO and NASDAQ:TSLA that anyone trading EV stocks...

03:39

norok Wizard

I wanted to make a video followup to a post I made over the weekend as BITFINEX:BTCUSD was flirting with a swing timeframe resistance on the 1h timeframe. Price has taken the bullish case by breaking that resistance. I share my thoughts on what this means for the future and if we are going to break that all important past-All Time High or not!

norok Wizard Updated 

BITFINEX:BTCUSD has recovered from the recent down move and is NOW sitting at Resistance. The level is the 50% Retracement of the move. So far in the short term price is responding to and respecting this level. Breaking the level up would be a bullish sign for a retest of the near term high and a possibility of continuing to the ATH test. Failing to break...

08:58

norok Wizard

Today as the volatility calms down on the recent failure to reach the All Time High on BITFINEX:BTCUSD I take a victory lap to share WHY I called it as I did. It's not an exercise in ego or ask for people to follow me. In fact, don't listen to me and don't follow my trades... do your own analysis. What I want is for people to learn from my experience as I...

03:54

norok Wizard

Hope everyone had a great Thanksgiving if you're in the US! What better way to recover from a food coma than to analyze a food stock? I'm comfortable with traders being bullish on NASDAQ:BYND to retest the 2020 high so long as it holds the post-earnings low. There is clear price action to structure a trade where your risk and target needs to be. So loosen up...

norok Wizard Updated 

It is interesting to me how price action has slowed as we approach the former ATH. Yesterday there was a long volatility spike that launched the price closer but we just had a small short term failure to make that final push. Being so close with everyone aiming for the ATH and to break it (myself included) I find this signal concerning. We'll see what the...

norok Wizard Updated 

COINBASE:LTCUSD is so far holding its last 50% retracement level of the past few days' move. However, if it breaks this level it could trigger some stops for a correction.

norok Wizard

Ripple has consolidated from the other night when I receive two text messages from long lost friends with no crypto experience asking if this was a "long term hold" "for their retirement." I told them if they were asking that question, feeling that good about their position, they needed to take profit. That's euphoria... and it's reflected in the price. BE...

06:29

norok Wizard

Today I got sent a lot of positive vibes about the methods I've been sharing so I wanted to give back. There are two great setups that a friend found I wanted to share on NYSE:REV and NYSE:EL . I don't know anything about the industry of women's makeup but I know when price action is beautiful! Both of these had some great around-earnings price action that...

03:37

norok Wizard

I've taken two positions on FOREXCOM:AUDNZD this week. First a bearish 60m breakout that I captured a little bit of profit but the remainder stopped out. That stop out revealed some fascinating price action at a potential Daily Support level. I really like studying price action such as this and put my thoughts into a video to share!

norok Wizard

I was able to catch a short term bearish breakout on FOREXCOM:AUDNZD this week. I closed half at a target and then the remainder stopped out. Following this I noticed a very sharp reversal. My scanner alerted me to a spike on the Daily timeframe. Sure enough the spike is happening right at the 50% retracement of the whole year! This is a low risk, long term...

norok Wizard

Years ago when I was learning to trade and studying under my mentor he told me that day trading was best done in just the 90 minutes from 10:00am EST to 11:30am EST. This makes a lot of sense. The 9:30am to 10:00am opening time is very volatile for stocks. Traders are rushing to open or close positions before many have made their decisions to put orders into...

norok Wizard

As I keep mentioning the best Fibonacci level I've found is the simple 50% halfway point. BITFINEX:LTCUSD has demonstrated this beautifully as each impulse wave over the last many days has pulled back to hold its 50% level and continued upward.