Currently and bottom of the trading range/Major support (third test of the bottom of the range)
momentum slowed down and a gap reversal formed
Still in an uptrend on the weekly timeframe
Has potential to break out of trading range and make new highs
as per request, analysis on EGO
I would wait to buy in the lower range in the box. The STOCH RSI always come down to around the 0 level before a move back higher. it seems to follow that pattern, looking back on the daily chart and see reversals happen when it bottoms out
also, the Fibonacci support levels are pretty close from the big dump previously and also...
Do you want to trade the AMEX:SPY market, because you feel that we found the bottom?
Every trader can see some TA pattern in the market to find the "proof". But what about our EGO?
Trying to catch the bottom is like trying to catch a knife. It's very hard and it hurts.
I will show you, what we do with our portfolio and what we expect from the markets in the...
EGOs run seems to be over for now, it had produced a continuation gap (bearish candlesticks), but that alone isn't enough to make a confirmation. After today with the 10% drop on shelf offering news.. it formed a bearish engulfing candle. Bearish engulfing also alone by itself is not enough to say bearish also.. so you look for volume confirmation. It seems we...
Earnings out with CC at 11:30am... Australia is rallying hard with gold miners and gold is up big overnight. Earnings were decent but nothing crazy. Hoping for Greek mine updates this morning and we should be off the the races again
bollinger band gave me a buy signal....
upper band 8.32
lower band 7.78
look at those for pivots or gaining/losing...
In my previous post, I was bearish on EGO and bought a few puts thinking it was ready to turnover agan. Now watching it after it cooled off and has been; making higher lows the past few days, not breaking the trend line.. I am cautiously bullish. Looks ready for a push into the 8's. I bought some near ITM calls to grab some profit from the next push. More volume...
Looking for exhaustion on the EGO run from 3's. Volume is declining and approaching OPEX..
support around 6.80s then maybe look around the 6.00 area for support. finding support is tough on these kinda runs.
Trading is hard work - But no one wants to hear that it is hard work. Everyone wants a short cut. A short cut does not exist. If it did - everyone would use it and the market would cease to exist. Everyone who starts out trading is lured in by the profit potential. You might get lucky and make a quick buck. But over time you soon realize that trading is a...
EGO came out on our fallen angel scan. It is a play on the gold. It has broken down from a long-term downward channel & now seems getting some upward momentum.
We think it has good upside potential from here.
* Trade Criteria *
Date First Found- December 13, 2017
Pattern/Why- Fallen angel
Entry Target Criteria- Current price ($1.27)
Exit Target Criteria-...
This is getting a little top heavy right now with the RSI (5) and MACD showing signs of a short term pullback brweing. Volume has decreased the last couple of days as well which usually means buyers have started to slow down. Anything can happen tomorrow with the FED rate decision however, but ultimately gold prices need to move higher in order to reach and pass...