MicDrop5

MicDrop5

Looking interesting here. This is starting to smell like a bottom, since it gained that swing on the daily. For you pattern traders, a diamond reversal is in play. Risk/Reward here is pretty decent WITH STOPS at the low.

MicDrop5

On the weekly, Google has violated it's uptrend and is approaching a nice short zone for a decent risk/reward setup as pictured.

MicDrop5

Starting to see signs of a turn on SEDG. Volume coming in with a bit of sideways accumulation. I'm scaling in with a stop loss as pictured.

MicDrop5

This Is What Accumulation Looks Like. UNG Is Likely Setting Up For A Move Up Soon. The Price Action On The Weekly Is Showing Accumulation. Volume Is A Secondary Consideration To Price Action, But It Helps To Confirm Our Thesis.

MicDrop5 Updated 

Everyone is bullish right now. And yes, the SPX could moon to 4700. But here's why I'm exercising caution now.

MicDrop5

Risk/Reward right here is too good not to take a small position with a tight stop. I'll probably get stopped out, but that's fine. Second buy zone is also shown.

MicDrop5

Nice risk/reward here for shorts on higher time frames. I'm playing this one with a wide stop and conservative entries.

MicDrop5

The opposite end of a swing can give clues as to what to expect is likely from price action at a zone.

MicDrop5

Decent Reward/Risk of 4. Excellent setup on high time frames.

MicDrop5

RELX has performed a liquidity sweep above previous ATH and is setting up for a lovely example of what I like to call a bullet catch pattern. The catch is considerably wider than the impulse move (bullet). The street trapped retail traders above the ATH in longs and can now flush this thing. The key here was the candle BODY close below the orange line. That was...

MicDrop5

Normally I use pure price action to make my trades. This however, is a pattern I've noticed based on some of my best trades over the past year with probably about an 80-90% strike rate when I find one. So let's call it the "Bullet Catch Pattern". You notice that over a large number of candles, price has done a slow, steady reversal in either the upward or...

MicDrop5

FTAI is showing a good risk/reward setup here for a short in this range. Entries are scattered across red zone. Stop loss and PT's shown as well.

MicDrop5

Sweet Risk/Reward for a short entry in this range. Watch the weekly close.

MicDrop5

This trade may get stopped out like any trade, but the reward/risk here is exceptional at 6.46.

MicDrop5

To Ensure Proper R/R, The Bulk Of My Short Orders Are Weighted Near The Top Of The Zone. I Like To Refer To This As A "Bullet Catch" Pattern. From Oct-March, Price Slowly And Deliberately Rejected The ATH. This Is A Weaker Move To Fill Shorts.

MicDrop5

I'm scaling into a short on PulteGroup with excellent risk/reward. Staggering to me that home builders across the industry are seeing their stocks soar today, despite an absolute routing of their revenues. There is a lag in revenue reporting and the distress they are experiencing will be reflected in their earnings soon. From a technical standpoint, this trade...

MicDrop5

AIG looking like distribution on the larger time frames at top of range. Good risk/reward as pictured in my opinion.

MicDrop5

On the weekly time frame, DHI is nearly at a short zone with a 3:1 reward/risk as pictured. Fundamentally, there is no reason for homebuilders to be rallying with home values crashing in the new home industry. I'll be spreading entry orders for shorts across the red zone.