ContraryTrader

ContraryTrader

Simple chart here. Broke out of a major pennat back in December.. technically this pennant should take GS back to ATH but first it needs to get over 390 hurdle. Over 390 and long it to 422 Reject at 390 and short it back to 350

ContraryTrader Updated 

Ascending broadening wedge pattern here. Bearish pattern. Looking for one last dead cat back to 20sma 245-248 then a correction back to 200

ContraryTrader Updated 

Drops from last week Spy - 2% Qqq- 4% Iwm- 5% DJI - 1% Dow outperformed the best because of financials ,energy and health.. Big bank and Health stock earnings kick off this week which i think will ignite the dows pullback... So intra day indicators look oversold but structure looks bearish along with elevated selling volume. What i mean by this is,...

ContraryTrader

Consolidating here inside a wedge after a massive run up.. Breakout of a wedge and i like calls over 68.50 or 20sma 1st target is 76.11 2nd target is 82.00

ContraryTrader

Rising wedge here that probably wont correct until NVDA tags 550 or trendline resistance .. not saying to blindly short at 550 but look and wait for a reversal candle near trendline resistance.. SMH chip sector close to a correction also Daily chart

ContraryTrader

Chop for the last month here. Either consolidation or distribution Bigger picture here is the ascending broadening wedge inside white trendline.. this is a bearish pattern... if msft breaks below and closes below 366 than the correction has started to 300 with a pit stop to 330 first.. Inside the major pictues is a smaller pennat that msft has been trading...

ContraryTrader Updated 

Looking for a 468 gap close this week on spy to finish this Rising wedge pattern... Similar pattern on DJI and QQQ IWM This flush will basically flush the entire holiday algo melt up last 2 weeks.. I'll update this with sectors later

ContraryTrader Updated 

2 scenarios here.. 1st scenario which im fond of is the H&S to 186 2 scenario is a possible falling wedge setup for ATH In my experience , you always have to watch that right shoulder on the H&S.. if it doesnt break the neck line to flush lower it will turn into a falling wedge .. We will find out next week..

ContraryTrader Updated 

Has bottomed out here at 99 support 20sma has been resistance entire sell off.. long over 102.. 105 first target

ContraryTrader Updated 

Same Rising wedge here on Spy and nasdaq. 1st short target is 453 or 21ema... I expect a bounce there followed by side ways trading to round off right shoulder for a H&S correction back to 420-430 This correction should be a 8% drop from 465 based on the size of this wedge QQQ Same wedge Short entry 400-401 Will update this more later

ContraryTrader

Channel trade here.. Weekly candle rejected off channel last week with volume.. Closed below daily 21ema Looking for a pullback to 81 gap close. 1st target 88$ 2nd target 81 gap close Entry - below 95 Stop loss - close above 21ema

ContraryTrader

Risk and reward... Oversold here severely at 26$ support. This is a long term investment idea .. I think Pfe will retrace back to mid 30's by next year.. Pfe is back to feb 2020 covid crash levels. 26$ support has held for over a decade.

ContraryTrader

Price at trend resistance and Fib .236 resistance 1st target is 130.. Below that and we see 122. I think we retest 138-140 one more time before the short begins Short negated if AMD closes over 140.. If AMD closes over 140 theres no resistance into ATH

ContraryTrader

8 straight weeks up.. Daily RSI is hi fiving pluto. Still volume is strong and no reversal candle has been shown.. I think BA will correct along With DJI in the coming days back to 230 minimum. Daily RSI along with candles are both at resistance

ContraryTrader Updated 

Close at the top of a megaphone here. Same with ES These megaphone patterns are usually bullish but the question is, do we make one more leg down before heading higher? Here's Nasdaq composite or IXIC.. 1% range trade for most of the week. We closed at the top of the range. Similar charts on XLK Market has been mixed.. The fawkery is evident , they...

ContraryTrader Updated 

Price has been playing this channel since July's high with exception of the last earnings gap down that broke channel... Next week we will either tag 320(50sma) or 353 resistance

ContraryTrader Updated 

Aapl, looking for a bounce back up to 195.00 to form a right shoulder for a correction down to 182-185 The bounce back to 195 is only legit if 192 support holds.. If 192 goes before 195 then thats a double top.

ContraryTrader Updated 

Daily pattern is an inverted H&S to push arm back to its IPO price at 70$. Price is currently flagging between 60.80-65.00 I think price is headed for a breakout of this bull flag soon Stop loss 60.00 1st target 64.50 2nd target 70.00