AdvancedPlays

AdvancedPlays

MSFT has been a strong name,.but it has struggled to get momentum after reaching ATH. It has largely been range bound,.although it is near ATH. I expect it to fall with all of tech from here. It has an ascending wedge heading straight into resistance. I expect it to fail and break the $397 area which is key for further downside.

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I will be posting a series of ideas that support my market crash thesis. I'll start here with an ascending wedge for NVDA. I consider it an unforgivable sin to short something showing this kind of strength, but extraordinary times call for extraordinary measures. I expect NVDA to elevator down from here after breaking this wedge and filling the recent earnings...

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I believe this past week was one giant bull trap. One of the primary reasons for this is the strength of TNX and fed fund futures adjusting after more strong jobs data to end the week. DXY went back to beast mode as well. Treasury yields are the single greatest threat to the market in my opinion and I believe the market is going to come to the realization that we...

08:19

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Had a really nice comeback on silver puts today, I had many that were worthless and set to expire today, but I ended up getting all of the losses back and actually making profit on the position. I'm currently very bearish going into next week, but we'll see how things look Monday morning and from there. Have a great weekend.

AdvancedPlays Updated 

GME has been basing and building a strong momentum slowly over the past couple of weeks after the share offering was completed. I do believe the squeeze has begun and it may have quite a ways to go. Here are some potential paths, I like that trendline for a target, that previous high will be important as well. Total annihilation and destruction for GME short...

AdvancedPlays Updated 

I've posted some bearish ideas on silver lately with some longer term patterns that made me bearish before the recent sell off. It recovered some today, but looks like another good short opportunity to me. Here's a shorter term chart with an ascending wedge (an ugly one) and some levels. No guarantee it'll work again just because it worked for me earlier in the...

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MSFT is near ATH, but looks fairly bearish to me. Two ascending wedges in a row, I would expect this to break to the downside soon and head back to previous lows. If not, it could be a great long if it is able to make a new ATH and sustain value up there.

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SNOW has broken below a major support level and I fully expect it to remain bearish until it reclaims. For now I'm watching this trendline and the mentioned support to fail for a short entry

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I had been bullish on PYPL, but it struggled to rally in recent weeks despite the strength of the Nasdaq. It has finally broken out and reclaimed an ascending trendline it had fallen below. There's also a descending trendline shortly above and I expect a larger move if it's able to break above.

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BTC has been stuck in this range for quite a while, a lot of chop recently. It's had a couple of moves below and above, but for the most part it has stayed in this range all week. I'm still bullish on crypto, but unsure about the broader market. I think it could breakout soon, but also has the same chance to fail IMO. For now I see it as bullish consolidation....

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I posted an idea for silver futures last night, here's an update. Price gapped up above the descending trendline and held on a retest, which led to a large move. It's near an area of resistance now, so I'll be looking to see if it can keep going up and sustain above, or if it's going to fail again.

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NQ showed a little bit of weakness today after a big rally yesterday. It is back below a resistance level I have, but has also broken out of a bull flag. I expect it to bounce on a retest, but I think it can still go either way after that.

AdvancedPlays Updated 

I took a short on SMCI today. I had posted a bullish and bearish idea for it earlier in the week. Neither of those have triggered yet. I took this trade because it failed at previous lows and a trendline shown here. My target would be either the most recent lows we made or the trendline support slightly below that. It can still breakout to the upside here as well,...

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I am still short the dow and obviously expecting it to move lower soon. It held trendline support today, but has resistance above still and is forming an ascending wedge. If it breaks the wedge to the downside, I'd like to look for more short entries if it comes back for a retest.

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I've made good money on silver playing both directions this year, but today I got my face ripped off on it. I think it could fail here at supply and head back to previous resistance before squeezing higher. If no bounce there, I'd say it is not looking great. Could lead to chop or more sell action. But, I think it'll be a good long for now, I might enter depending...

11:21

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Another rough day in the challenge and another unacceptably large loss. Gotta refocus here, got my face ripped off by silver and shouldn't really have been trading such a risky ticker in this account. Especially when talking about shorting something while it is in the middle of a short squeeze. Still feeling good about my trading lately, just got a little...

AdvancedPlays

Most of my ideas have been on the spot index for silver, but I use the futures to chart as well. Along with SLV, there's always another angle. I like the demand zone below for a short target..However, if it breaks above this trendline I'm gonna get out of the way,. It could go either direction at this point.

AdvancedPlays

Here's a cleaner ascending wedge than the one in the last idea and a path as well. I still consider this bearish as long as it remains below $30 regardless of the wedge, but it's another confirmation. If the $30 area is broken and holds on any retests, I'd say the trend will have flipped bullish and we'll have to see how it reacts when it gets back to the area...