GreenBoxTrading

GreenBoxTrading

So many indicators and time frames are bullish GDX right now with bull divergences and montly MacD cross. Classic cup n handle formation with a backtest of cup in progress. Im no EW guru but it looks like we are at the beginning of wave 3. Good RR here with a stop at $31. Let me know what you think of analysis. Cheers.

GreenBoxTrading Updated 

MSFT is coming into a weekly high volume level of demand between 247-242. There's also a confluence with the weekly 20ma which has acted as strong support for about a decade. My plan is to try to catch a price as close to 242 as possible with a stop just under 240. There is a weekly gap above at 285 along with an untested level of supply that could act as magnet...

GreenBoxTrading Updated 

No meaningful structure on long term time frames (say that 5x fast) PLTR is a 'sell the rip' stock imo. Impulse move followed by impulse move. I like the complany, but they are early and for now, shorts are in control. I was surprised that the gap did not fill on Friday, though we closed inside. If the market is green early this week I'm watching for this...

GreenBoxTrading

I think its safe to say many of us have been surprised by the strenghth of the market these past few months. Global economic uncertainty is at all time highs, but the market doesnt care. Thats one reason I prefer to play the trends as opposed to making predictions. All too often I see furus on twitter making fools of themselves calling crashes every other day when...

GreenBoxTrading

Just got back from a lovely holiday where I had zero access to my charts. Its was a much needed break tbh. Spy has broked above that stubborn trendline with strenght (note the volume bars) that has acted as resistance all of 2022. This is pretty significant imo, yet not surprising. If you look at the circled area you can see spy pulled back here and built a base...

GreenBoxTrading

I noticed Crude futures finished the month with a doji. There were only 3x this happened since charting began; Feb 2016, April 2020, and Dec 2022. Using the date and price range indicator after the Feb 2016 doji print and applying it to the Dec doji, I have an April 2023 price estimate of 96.03. As my previous posts indicate my price target is $88 but lets see if...

GreenBoxTrading Updated 

Crude has been honoring this trendline since tagging my supply zone a couple of weeks ago. I think we have a good chance of tagging the 200 ema at around 88 but would like to see some consolidation for a few days, similar to the consolidation that occurred on Dec 19-22. Nice inverted H&S pattern forming plus all of the bullish factors I mentioned in my last post...

GreenBoxTrading

I'm using the hi/lo of the doji that printed on the week of Dec 12 as my levels of breakout/breakdown of Dxy. We all know doji's represent indecision and DXY is definitely showing signs of just that. Last week we printed a four price doji which is extremely rare and shows a high level of indecision between bulls n bears. I was surprised the DXY did not rally...

GreenBoxTrading

I had been waiting for months for CL to test the green shaded area which coincides to an untested weekly level of demand dating back to Dec/21. When we wicked down on Nov 28 and popped up I thought "damn, I missed the move" but instead of chasing I decided to wait (learning patience). A few days later we got the move I had been long waiting for and we have seen a...

GreenBoxTrading

I am not bull or bear in this market. Instead I look for patterns and trends and TRY to discipline myself to trade what's in front of me though I admit its extremely difficult sometimes. I did however notice something interesting here on the 4 hr chart, actually I have several interesting patterns to publish but I'll start here to keep it simple. First of all the...

GreenBoxTrading

Doesn't necessarily mean anything until we start to develop a bottoming structure but when you convert the monthly to log scale look where we landed in relation to the trendline. Coincidence? Perhaps. Next week baby....lets get that bounce.

GreenBoxTrading

Tesla lost a pretty significant monthly support level (dotted line) of 126.37 last week. Not gonna lie, it was a bloodbath and the chart structure is broken, for now. Im not sure if its my overall bullish outlook on Tesla (I love the car) or wishful thinking, but I see the recent selling pressure as being more circumstantial;eg, tax loss selling, Elon selling,...

GreenBoxTrading Updated 

Bullish engulfing daily candle with a nice close above the 20 ma, RSI is showing signs of bullish divergence. With FOMC more than 1 month away I think we'll recapture the 50ma and retest the trendline resistance in the next week or two.

GreenBoxTrading

Not gonna lie, Clov is one of the ugliest charts I've seen. That being said there could be a good opportunity for a short term swing into earnings on Feb 23rd. Here's why: 1. Last Q earnings beat street expectations and revenue is expected to rise thought the cost of customer acquisition is still very high 2.Today price closed above the 20ma for the first time...

GreenBoxTrading Updated 

As noted in my previous post, many people are comparing the current correction to 2018 while indicating that a much larger move down is yet to come. My research indicates that the large move, aka- waterfall move- has already bottomed and we are now coming out of the correction. Note in particular the current 200ma is currenly in an uptrend. Also note the bottom...

GreenBoxTrading

Two bearish tweezer tops at long term levels of resistance. Looking for a close below the 20ma which broke out June 2021.

GreenBoxTrading

Who needs to draw trendlines when the 20 and 10ma on the monthly do the job so nicely. While everyone is calling a bear market, is it though? Looks more like a correction on weekly and daily too. We need another month of lower lows to confirm a bear market.

GreenBoxTrading

Since I'm seeing so many posts comparing the current correction to the 2018 correction I thought I'd post my research. Yes we have a similar narrative, meaning a FED taper tantrum but there are some differences that are important to note. One being the trajectory of the 200ma which was decidedly neutral at the time of the correction. Stay tuned for current SPY...