Looking for a gap up monday
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sunday futures are feeling it
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Here's how it looks on the ES1, seems to be playing out exactly as I'd expected
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We should follow this trend line up
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rsi 59 on the daily candle looks like the place to cloes longs and open shorts
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bull flag forming, wednesday open should be roughly sideways from close
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Our buys april 3our performing so well I am skeptical that we will see a full market reversal. The chart shows we should still take action at the 1D-RSI59 but I'm thinking this will be a long reduction and put buying rather than a full closure. Will update targets again when this occurs.
Trade closed: target reached:
What to expect this week. A pump to 2900, a panic sell from the doomsday seers creating buying opportunities @ and just below 2650, you'll want to buy that for the ride back to 3400. The bubble won't pop until life feels it has actually "returned to normal", months or mabye even years after the covid19 hysteria.
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6H RSI should break this bearish trendline this week, the 6H 200MA looks like an excellent place to take profits and buy puts for a retest of the 1W 200MA.
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6h RSI bear trend broke today. Looking for one last parabolic move up into overbought territory then we'll see some excellent dip buying opportunity
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Targets updated. If we don't see the parabolic move to the 6H 200 MA as I'd been expecting, the bottom of this channel in red may be as low as we go.
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The 4H EMA26 has proved support from the sell off today. I added to my longs here after scalping 284. Watch for a second test of it after the next leg up for easy pattern trading.
Trade active:
Its riding the EMA26 for hours now. I stop lossed on a little fake out and got back in. A break down will find support at 2700 and a further break from there would signal a short signal to 2550 target.
Trade active:
The 4H 26EMA held like Rocky Balboa against every single trade idea and troll here being bearish creating a strong floor at 2760 after 16 hours of pummeling and we're now finally starting to see lift off. We should see a 5-10% climb by Friday after this epic victory.
Bears, hide your jewels, hide your things, because bulls coming through like the 40 thieves.
Bears, hide your jewels, hide your things, because bulls coming through like the 40 thieves.
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cup and handle on the 2H. target is 2900
Trade closed: target reached:
2900 reached
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So our technicals are no longer in favor of further rallying. Our D59RSI target has been reached and the 6H is entering overbought territory. Now we may actually enter "retard rally" with a target of 3160 at the top of the channel, so we're not going to open shorts. You do not short a bull market. What we are going to do is buy these stupid cheap put options with a target of 2650. We're also going to unload 30-40% of our long positions to free up cash for dip buying. I expect the market to stay in the 2900 range for at least 5 days so we can get the margin calls liquidated so don't jump on the first put option deal that you see. The bears are in pre-foreclosure now and will be selling their assets for practically free over the next 5 days.
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I'm also thinking of shorting oil to $17 but this makes my stomach queezy. Will definitely long a dip to $17 though.
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I knew I should have shorted oil. Now I'm trying to long it on a 1m candle. This is degenerate af.
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long brent crude @ 27.81. pray for me
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bullish divergence on the 1m brent crude. looks like I'm in the money. I would highly advise against doing any kind of trading like this ever. I'm just making an exception to take part in historic oil opportunity. Trading schools that teach you to work the 1m just tell you to double-down on an underwater position. Don't bother paying them, don't bother in this madness.
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oil floor seems to be forming as the indicators catch up. I've set a stop loss to permit $1000 maximum loss per contract. My hope is that this is "The Final Dip" and will be riding this hail mary all the way to june 20 expiration.
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I went with brent crude because while WTI was printing lows the BZ is setup for a bullish recovery and seems to be holding those gains while WTI dropped further to 17.50. On the stock market, the fake news media is incessantly blaring about "V shaped recovery" to get the dumb money flowing in, so retard rally seems imminent.
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The retard rally is in gear. No technicals can predict what will happen. We've defeated the bears on the battlefield and are now sending in the ground troops to pillage and burn their village. Nothing will make sense in this mayhem, you just have to trade with your dick for the ride up.
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es1 still in the bull channel. No idea how market will react to negative oil prices. Most people probably expect global apocalypse so I'll just stay long until the channel breaks.
Trade closed manually:
no longer long on bz. now short texas oil june 20. I just hadn't ever considered negative price into the risk reward ratio, but here we are.
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banking hard on the oil short
Trade active:
shorted wti from 21 to 15, now short bz at 21.3
Trade closed: target reached:
now bullish on oil. there was probably some news i wasn't aware of thats effecting the charts but it looks like a local bottom has been reached and now its pulling in higher lows. expect spx to rebound into the end of the day also.
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bullish divergence on bz at $18.80. went long
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bz target is $23, will set a trailing stop if its not there before i pass out
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2nd bullish divergence formed 20 cents lower. panic selling is really aggressive but I do think technicals will overcome this at the end of the day.
Trade closed manually:
wti dropped below $10. think we're going negative
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all directional squeezing. i haven't seen volatility like this since the day mt.gox went insolvent. fucking oilcoin
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6h 50ma has 30 hours of floor action and finally lifting off. should be going up today if not more sideways
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6H RSI 64 is the 3rd test of the bearish divergence. I will short the spx there. We should be going up this week to reach it.
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scratch the last short idea. looking at the 4h i see we're approaching the 4th test of the bearish divergence, this one should blast right through it
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4H RSI has broke through the red bearish divergence line. Still waiting for 6H and 12H which are at test zone as of close
Trade active:
Looks like we got a clean break of the bear divergence line on the on the 6H. Sell target is RSI 64 on the daily candle. Over the next 5 days is a good time to pick up cheap put options
