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...
Bitcoin price has fallen through all the triangles drawn on this chart - including the big green symmetrical triangle based on the $339.79 low. Bitcoin price failed to reach escape velocity after breaking out of Andrews' Pitchfork and could never break above descending blue price trigger line. At this point, there is the possibility that price falls back into the...
Bitcoin continues its technical breakdown. On the 1-day chart the 50-day EMA has crossed below the 100-day EMA. You'll also notice Bitcoin price has dropped far below the 200-day EMA as well. In addition, Bitcoin has fallen below the Keltner Channels, which is something I had mentioned as a possibility in the past. On Balance Volume (OBV) is at an extremely low...
While it is well and good to create charts, monitor indicators and attempt to discern the direction of the Bitcoin price, it is easy to get buried in complexity and blinded by bias. That is why the On Balance Volume (OBV) is so valuable. You can read more about it by following the link below: www.investopedia.com Essentially OBV allows you to eliminate a lot of...
At this point the Bitcoin price has made a decent recovery from past couple of days where price dropped to the mid-$550's. However, looking at the chart the Bitcoin price and volume trends from June are still down. While the price in relation to the Keltner Channels and moving averages did not behave as I thought, I believe they will still exert influence on the...
What do you think? Will the btc/usd move like this in the next days?