Neg. Earnings Bearish Sector 50 Below Market Flow
I'm taking a 5x long on Bitcoin here. Market sentiment is pretty bearish at the moment. Many traders on twitter and telegram are thinking 6k. Of course anything can happen, but I'm thinking we will hold the weekly 100ma @7765. We can see a sequence of HL and HH has been established. Also Bitcoin has never closed below the 2day 241ma @6613. A close below this...
Confirmation is big part of trading and waiting for it - always look for at least 2 or 3 additional reasons why a trade is a buy or a sell. We make mistakes and we take losses whats important is that we learn and take it forward.
NASDAQ:LYFT If lyft can break the trendline, it may see lower prices. Keep in mind this is super crowded with mainstream media coverage so keep that in mind for a potential squeeze if short. Have your stops in place for protection
NASDAQ:XRAY Xray earnings gap and consolidated nicely after a big move up. Price attempting a breakout here again so looking for another move higher. If it reclaims the prev. resistance level marked, I will stop out
NASDAQ:NVDA The price is at an important level here. If it can bounce of the resistance level, would look for $190+ target. If it can't bounce of this level would cut it. Bull flag on daily and it's gapped above it pre market so this level is very important to hold for the idea to be valid. This is a nice 3R+ trade if you put your stops in correctly.
NYSE:WNS Watching WNS as it consolidates below all time highs. Any breakout on volume is an entry with tight risk. These breakouts at all time highs tend to be quite choppy so will need to see some volume and sustained price action or ill cut it fast
NYSE:UNP UNP pennant formation setting up. Other stock in the sector have broke out already so this may also add strength to the sector.
Breakout day on NSC, looking to add on any shorter timeframe setups. Don't like the lack of volume so far though NYSE:NSC
ALXN consolidating nicely. Watching for a push through resistance on volume
Watching the uptrend support level for a solid break on volume. Stops in place as always.
Watching for a break of the trendline. Ideally, we get more consolidation first
NASDAQ:NFLX Bounced nicely off support. Looking for longs with risk on lows. Great risk/reward on this one