There is not much to lose if we take risk as a reward ratio.
The stop is between 228 and 229, the last peak.
Since new summits can be seen, our profit sales place is not clear, it is open end.
It will be determined by dynamic analysis.
If the increase continues, new peaks will be seen.
Our risk / reward ratio is 0.28 in the first field and 0.09 in the second field.
There was a close above 5.84.
Long positions can be tried in small lots.
However, losses can be a bit high since the bar cannot be sure without closing, so stoploss should be placed directly at 5.81 or 5.84.
Our sales level for the first area is 6.095.
If the first area breaks down,...
Dear day traders,
RMI still above 50, as I have commented on previous idea, the price will only go down when the RMI shows a massive negative slope.
Money Flow still confirms solid buying power. Still, the 15min chart already signaled some weakness. I would still hold on to BTC position and have a stop loss at 8090, but I don't advise against going short now.
I...
Sector performing strong
-Long term trend is bullish with strength slightly weakening but still in uptrend...consolidation
-intermediate time frame showing a nice flag forming after that sharp quick advance finding support in the 80.18 area
-relative strength is slowing showing a nice pullback
-the real tell is the obv which is showing the positive volume...
On a daily chart: It is above 5 MA and 20 MA, it is above the William´s % R, above the CCI , the daily candlestick is positive, it has an increasing volume , it is a growth industry (semiconductors), it is above the cloud, above the 50 and 20 MA, it is above the 8 EMA , the RSI that I set to 2 is above the 80 level, the MACD crossed and the PVT is positive....
A great indicator to determine the confidence (ie. risk appetite) of investors/speculators is the XLY/XLP ratio. XLY is the ETF for consumer discretionary stocks whereas XLP is the ETF for constumer staples stocks. In times of confidence, XLY should perform better than XLP because there is belief that the economy is doing well and that people will spend cash on...
This trade setup is pretty simple and doesn't require any rocket science. McDonald's, or MCD, is a component of the DOW30. MCD has been in a trading range on the weekly chart for quite some time now. We are currently at the bottom of this range, providing an excellent opportunity to get long. I'm using covered calls in this name to get long the stock at as cheap a...
USO has broken it's uptrend a few weeks back, and since has been heading violently lower with no signs of stopping, at least not yet. Not in my eyes. I had a plethora of converging indications, so I've marked them in the chart A - F, and then explained my trade setup. Good luck.
A) RSI has broken above the 35 level, but this is likely because it bounced a bit...
NetApp holds well above broken resistance level at $38. This is very important level as it is in play since March. We had some clues before break up as buyers managed to build series of higher lows with recent bottom at $36. Below this, idea will loose its luster.
As broad market entered into corrective phase, i like how this specifique stock showing us relative...
Yeasterday US markets closed in red with QQQ -0.8%, SPY -0.9% and DIA -0.94%.
But this social network reversed from lows and closed near highs.
I think we are close to resolution of this wide range with upside bias because of that strength. Now we have higher low @ $143.45 and important intermidiate support @ $145 that was retested intraday.
Another action...
Stock came from $26.33 to $71.80 for one year. Then agressively sold off from high. Pretty deep pullback which we can measure with fib levels - 61,8% is support - the last chance for bulls to prove that it is not reversal.
Yeasterday it went through lows but managed to get back and closed on highs. Showed us relative strength vs broad market (SPY, DIA and QQQ...
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