The idea here isn't very difficult to understand. DAL has made a run up from $35.51 on August 8th, where we saw a bounce off the 150EMA, a personal favorite area to get long for me, especially looking at the weekly chart for this. Anyways, from the top down:
1) Bullish RSI Holding 60 Support
2) Established Uptrend - Long Term
3) Bounce off 150 EMA
4) Long $4.46...
The idea here isn't very difficult to understand. DAL has made a run up from $35.51 on August 8th, where we saw a bounce off the 150EMA, a personal favorite area to get long for me, especially looking at the weekly chart for this. Anyways, from the top down:
1) Bullish RSI Holding 60 Support
2) Established Uptrend - Long Term
3) Bounce off 150 EMA
4) Long $4.46...
Goldman Sachs is a short to me here on the daily for a quick short. I'll disclose now that on the Weekly chart I am long based on the giant indented head and shoulders and the smaller head and shoulders that makes up the right shoulder. That is in my IRA however, as I do not purchase stock (writing covered calls) in my trading account simply because it ties up too...
BestBuy has been consolidating since the beginning of July. Earnings are due tomorrow before the opening, and our IV% is at 56%, so I am looking for a play here to collect a credit.
Historically looking at BBY we can see usually see a slightly bullish move after earnings (EPS, which is usually beating estimates). Because of this, and being at the top of this...
As I point out in the chart, MRK is in a very tight consolidation here. With the RSI holding inside of bullish territory after it's recent bounce off the 150EMA it has run into previous resistance. This resistance coincides with a sort of ascending triangle based on the higher-lows it has been making since March '14. This pattern comes to us after a long run up...
Less bearish and more bullish signals in the 1-day chart. And we have positive news thanks to a Bitcoin payment service:
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RSI divergence and a MACD crossover suggest UK100 is heading for another downtrend. I am just waiting for an RSI cross below 50 to confirm the negative trend.
This weekly chart is what I'm using to maintain my short position. Obviously the shorter term signals like the 1D or less are more valuable for spotting reversals, but I'm using this chart to confirm my belief that my 1D signals are all saying this down trend is far from over. In fact it might just be building steam.
The weekly MACD has not crossed the 0 line...
Bitcoin, on a weekly basis, looking weak, but still has room to fall. MACD, Premier Stochastic Oscillator, Vervoort Smoothed Oscillator, KDJ, and Ehlers Smoothed Stochastic & RSI with Roofing Filters all are bearish.
I am especially watch KDJ as its strong movement down makes it look like Bitcoin price could make another run at $340 or below.
None of these...
After producing a stellar quarter back in May, $TSL has erased nearly all of its gains (40%). After bouncing between 11-13 in the summer months it seems that stock has found a very solid base in the low 11s. After almost dropping to $10 we have seen price action test the ascending downside trend line multiple times and it has held strong.
The MACD also has made a...
With the Stochastic approaching the oversold levels, and the price reaching an overlap with the 200 day moving average, I am bullish on LPI. There is a short-term downward channel within a long-term upward channel, and this touching of the 200 day MA brings about a bullish upward trend. I believe that the price will approach the 27's and then will make a strong...
The 1D MACD cross over is a major signal for me that the market is now turning down. It's very important to note the crossover occurs with downward momentum building on the histogram. RSI is also showing continuous lower peaks confirming this potential new trend.
Bitcoin price has formed a descending triangle pattern. As of today price has touched the descending portion of the triangle 3 times and the horizontal portion twice.
Based on the length of the triangle, it could take until about the end of the month for price to exit the upper or lower boundary. Price should continue in the same direction it exits from the...
To put things in perspective, the Daily chart is showing a descending triangle formation.
If volume comes into play as expected, prices should rally towards the trendline around 131.00.
That would essentially put the bearish Shark pattern in play.
Back in Mid-March, Gold sold off heavily around 133.00/133.50, leaving me all the more confident a retest will, at...
I predict the price will fall within the next few days down to the yellow target area (620-610) After a lot of buy pressure and a run from 560 to 660, this market looks like it is temporarily out of steam. Double top on the 660 which is a previous place resistance. MACD is still falling. RSI and Willy 21/13 MA is also falling. Additional with the 3-day weekend...
This month looks like it COULD possibly form a Bullish Pennant along the downward trend line that is most notably found on BTCE.
I've been making my attempts at day trading but have failed a few trades, so I've decided to take a step back to my long term strategies and continue there where my skill set is better suited.
If you're new to trading feel free to do...
First this pattern appears quite difficult to read. But once you put the targets into perspective, one witnesses that the primary wave 3 (iii) is an exact 1.618 Fibonacci extension of wave 1 (i). By this token if the count ratio of 1:1.618:1 is to hold, then the next primary wave high is going to be ~ 1.64 level, which is a hefty ~1100 pips gain.
I would...
Fellow traders, in my last chart, I accurately predicted the recent rises several days before they came about with the use of the Weekly Stochastic.
When I looked at our current position to see our progress, I compared the current weekly level with that of the past two trends.
From this level of stochastic in the previous trend, we had a 2126% increase and then...
