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Hi guys. We had an unusually stretched move on Friday so I'm not expecting a sharp reversal and will probably prefer the long side early next week. This the basic idea of my day trading plan on small stocks. I will consider short positions at the top of the wedge if Monday starts with significant weakness due to some external events. Happy trading.
Hello friends. Before we jump on this next weekend on the Trap Planet I'm feeling urged to post this summary of the week. This is strictly subjective and if you disagree, please kindly post your opinion in the comments. Thank you and have a great weekend.
Hello friends. I'm posting my little idea today. It's an observation and an exercise and a question to everybody. If the efforts are not rewarded: What happens next? To make a bearish call here would be too simple so I'm leaving everyone with an opportunity to fantasize. The answers are probably not in the black & white spectrum imho. Happy trading friends.
Hi guys. I thought this was a good example of the Diving Board pattern on a smaller time frame. I'm only posting for reference should we get a continuation of this swing high. I'm currently bearish. Thank you for taking a look.
Hello friends. This is my best projection at this point taking into account the recent pattern materialization. 50% retracement would be organic, natural, and very healthy. I seriously doubt that smart money are not waiting for a 50% discount at this time. Merchants only buy at wholesale prices. Please feel free to comment and thank you for taking a look.
Hello friends. In my opinion we cannot even consider a bear market in small caps until this long term demand line is intact. In his work Thomas Bulkowski pointed out that the larger the distance between the touches of the trend line, the more bullish the move. I added the size of the rises to the outlook to make the picture more complete. Thus the bull is still...
Hello friends. Before jumping on this weekend here's my weekly summary. I think we have the bears in control. Maybe not significantly but still the bulls have been defeated this week in my opinion. I would not be surprised if we start the new week with testing the lows. The weekly ATR is high through the roof. Have a nice weekend.
Hello friends. We have a "breakaway" type gap today. I listed the basic statistically researched points. The projection is mine and is based on a similarity with a bull flag pattern and in my opinion only. Have a great trading week. Thank you.
Hello guys. Here's my perception of the market rhythm based on the observable swings. Some will say that the past has no impact over the future and I cannot agree as I travel back in time and look at each new swing. The pattern will eventually break but until it's there we can use it for probability assessments in my opinion. This chart is not for trading but for...
Hello friends. There's a massive bear flag on the chart, but I'm also seeing some strength such as base building. In my opinion we should not discard a bullish case. I'm offering targets to the both sides though. Happy Saturday.