Tomorrow I'll be watching ideally for a slight gap up overnight. Then a morning push into the 18.50's resistance level then I will go short a bit under with the risk above, as we can see on the daily we have had previous resistance around this level. My risk is based off of yesterdays high around 18.65 and if it crosses that then i'm out
Will be watching $NUGT tomorrow, approaching previous resistance & whole dollar resistance, so I will watch for it to spike into that $170 area then fail for the short. I'll be keeping my stop loosely above the 170's to give the trade some room to workout, but has upside to watch out for if it breaks above that resistance.
FMSA has been running for the past week and the only reason this one is on my eye is because it is approaching the 8 dollar whole number resistance where it has failed previously, so i'm watching for the test of the 8 dollar mark then the fail. i'm going to enter short into a morning spike leaving a little bit of wiggle room for my stop slightly above the eight ...
From my perspective, we're out of the triangle. I'm aware that Chinese prices look very different, but the price curve is pointed up instead of sideways on increasingly large time scales. There was a clear break-out with a higher high which re-tested the top of the triangle and bounced upwards to new 60-day highs. I think this is it; the next step is parabolic :)