Wells Fargo has earned itself quite the rap sheet over the last 4yrs, and this is only the stuff that they've been caught with. - finance.yahoo.com
Q3 & Q4 2019 Earnings both missed expectations, and a lower guidance for 2020 has been provided.
If they can maintain expectations at or above their lowered 2020 forward looking guidance, maybe this uncompleted H&S...
Chart Details
Weekly view shows price touching 10WeekMA.
Price cross below 10Week should confirm downtrend correction.
Gaps to fill down to $294
Stop $325
Target $300
Opinion – Coronavirus will increase and so will the bearish sentiment.
Money Patterns member alerts for this trade had 40%+ next day returns.
About Me
www.moneypatterns.com
Options Strategies,...
Chart Details
Small pullback today.
Bullish EMA cross and Bullish 10Week Cross stacked up. Very close to crossing will confirm bullish trend.
Gap fills to $15/$16 conservative estimate.
Weekly trend confirms bullish trend. RSI on Weekly confirms pattern breakout.
Stop $12.50
Target $15
About Me
www.moneypatterns.com
Options Strategies, Video Technical...
Chart Details
4HR view shows heavy sell volume and bearish EMA cross.
Weekly and Daily view both show bearish trend. Most important Weekly – bullish trend since Sept.
Bearish EMA cross on Daily should confirm at 3250
Target for exit 3191
Watching RSI around 46 for exit bearish, enter bullish
About Me
www.moneypatterns.com
Options Strategies, Video Technical...
Waiting for confirmation break of white trendline to enter bearish.
Trade Entry
Will update with specifics once trend breaks.
Chart Details
Earnings miss on TGT caused gap down, almost filling top gap in chart.
Other large gaps down to $73.
Bearish EMA cross and bearish 10WeekMA price cross, but price still in “fakeout channel”.
Must confirm break of...
Trade Entry
Anything at $12.80 or below is a great entry price as hedge.
I am putting some wishful orders in the $12.34 area and below just in case.
Chart Details
Banana pattern almost at end. I think the last Daily Bullish candle gave us a better contact point with $12.59 low.
The current downtrend without significant uptrend has occurred over 3 months....
Trade Entry
Before Earnings - Feb. 7 Expiry. Call Credit Spread. 1/3 Strikes. Credit of $0.75. Risk $125. Reward $75
After Earnings - Feb. 14 Expiry. Call Credit Spread. 1/3 Strikes. Credit of $0.87. Risk $125. Reward $87
Either strategy POP – 85.5%
While the Risk/Reward is not 1:1 or better (as preferred), sometimes these higher probability trades...
I will be placing an order with specs below on Monday.
Trade Entry
Jan. 10 expiry. 285/290 Call credit spread for credit of $3.25 or more. Max gain is credit received $325. Max loss is $175. Exit before expiry. This trade will end before earnings.
One leg of this trade is 78% POP. Other leg is 57%. Total probability of profit is 70%. Good.
If UNH closes on...
TRADING ACTIVE
Options were closed when stops were hit.
Stock is kept as better entry. More resistant to market whipsaw (no time issue like options).
Chart Details
Banana/Shoe pattern is repeating.
We are at the end of current pattern. Expecting gap fills up to possibly $17+
Bullish EMA Cross (at $13.70) and Bullish 10WeekMA cross ($14.60). Over both we...
Trading active in SPXS. Entry at $13.10 or less is great entry for 1 month hold max.
Trade Entry
I recommend using Dollar Cost Averaging to scatter orders under the $13.10 mark.
Chart Details
SPXS fractal holding from previous chart.
Fractal shows we will have few days chop sideways before pattern breakout.
Last fractal did not fill pattern, so I expect we...
Alert set at $320.09 for break of previous low (confirmation of bearish trend).
Currently active in SPXS as bearish entry.
Trade Entry
Bearish entry below $320.
Stop is Daily high 2 days previous $323.64.
This is not ready for entry yet IMO. Need to be careful here with artificial money coming into market with Repos. www.newyorkfed.org
Chart Details
SPY has...
Waiting for bearish EMA Cross or $281 to enter bearish
Note - AAPL heavy market cap in relation to SPY should be watched for overall market correction.
Trade Entry
If we cross $281, I would verify EMA bearish cross and look for bearish Call Credit Spreads 14 days to 30 days out. Collect credit for options which you think will expire worthless as price falls....
Waiting to enter position on Monday
Note – ZG earnings are on 2/10/2020.
I apologize for the Bitcoin video earlier today. Microphone issues. Issue will be fixed by Tuesday with mic. :)
Trade Entry
1. Short stock (not my preference)
2. Bearish Call Credit Spread – Collect premium for options that expire worthless.
A. Jan 17 expiry - 40/45 Call Credit...
TRADING ACTIVE IN SPXS
Chart Details
SPXS confirmed Buy Signal on Daily yesterday.
Gaps to fill up to $17.50.
Bullish EMA cross will occur around $13.94.
10WeekMA cross around $14.60.
Anything above $14.60 should confirm Bullish trend up to gap fills.
Price may stop at each gap fill – watch to exit if reversal occurs.
RSI turned Bullish.
Trend Dots confirm...
