The Ripple XRPBTC cryptocurrency made a nice correction of three waves back to the level of the previous wave four of a lesser degree with (a) = (c) equal legs and a stroke of exactly 1.61 level (in line with previous expectations). This is really a perfect configuration in the Elliott wave theory and exactly what we are looking for in trading setups. Currently,...
Look to re-enter at $40 in the middle of this year.
We've seen a massive rip in retail with XRP in the last couple days. Finally breaking out of this 6 month long Head and Shoulders bottoming pattern. Breaking out over that neckine of 42 was the buy signal. Overall, retail is still in a down trend, and that downward trendline from 2015 highs is our target as well as where we should face profit taking and...
Simple indicator/overlay strategy. $XRT #retail #ETF
Log scale- eyeing the bottom of the channel for a long w/ stop below.
Retail Stocks testing breakout level
On August 10, I sold the 37/42 Sep 15 strangle in XRT, about 19 delta strikes for 0.65. 80% IV Rank and 26.6% IV. The following week I closed the 42 call at 5c for no fee. The 37 put remains, and the share price looks like a good spot for it to bounce upward from here. Today the XRT is up the greatest % of the sector SPDR ETFs as investors do some...
I am very bearish on the United States economy. Retail data has been sliding lower and I expect that to get worse before ti gets better. Plus, on aggregate, one company seems to be taking all the business away from the rest. The others will collectively drag down the industry as more and more consumers switch to online shopping. I am bearish on XRT and going...
"Alexa, buy me some groceries"...
High probability trade on XRT with no risk to the upside. Max profit at $41 our break even at $39.85. The trade: Sold Two (-2) 41 Puts for every one (-1) 42 Put for a credit of $0.15 (per contract).
With this quarter's earnings season all but over and with VIX trundling along at sub-10 levels, there is a paucity of high implied volatility plays in the market for premium selling, so I'm looking at deploying something in either low volatility strategies (diagonals) or in directional plays that I've been eyeing. Screening for underlyings with greater than 70%...
Looking pretty beaten up... one more rally before the sell off?
$RTH is mostly $WMT and $HD both of whom report this week.
I always look to have a trades on the most liquid ETF's and I just closed a Straddle on XRT so is time to redeploy with 45 days to expiration. IV rank is at 37. Sold the 40/43 Strangle on XRT for $1.02 per contract (30 Delta). 61% probability of profit Credit = $1.02 My break evens are below 38.98 and above 44.02 Will look to close at 50% of the credit received.
Chart shows that price is being bewered in a strong resistance zone, which is trying to break once again. A 75.90 per share has an interesting Fibo confluence which may be considered as a "do-or-die" level as it is a level which validates or invalidates two Cypher patterns. Only a bigger one is shown, which would complete at 60.60 per share, while a smaller one...
XRT testing the prior breakdown on the hourly. Upside target 42.29 if overtaken.