GDXJ is showing some nice bullish divergence in the pennant of a bull flag on the 4hr and daily RSI. Upside is 30%+ and if it breaks down below the lows of the flag it'd be time to get out.
This is obviously dependent on what Gold spot price does. So, if XAU decides to finally use that hidden bullish divergence to head to all-time highs, then gold miners are...
Eyeballing APP here. On the daily we have three drives of classic bullish divergence on the MACD indicating price action reversal. So far, the price has indeed rallied. If APP can successfully backtest that $49.86 previous all-time low close here in late march, then I'll take a long with the chance for a very nice April/May return.
Also, the sellers failed to...
QQQ is looking solid for a reversal here. Had a bullish engulfing candle to begin the 4hr yesterday and we have some solid hidden bullish divergence presenting itself. Should be good for a nice profit by the end of next week or maybe that last week of April. Good 1:3 risk-to-reward ratio too.
Entry: $340.92
Stop: $334.33
Target: $361 (the gap fill)
VALE looks like a short to me here. Three drives of bearish divergence on the 4hr MACD and daily RSI divergence. I could also argue for the MACD bearish divergence on the daily too. Throw in a potential bearish abandoned baby and I'm taking a short here at $20.52. Not quite a 3 to 1 reward to risk ratio, but it's close enough for me.
SNDL finally putting in a higher low. We got that Classic Bullish divergence and now it appears SNDL has backtested weekly support as support yet again at $0.46. The chart is saying we're going to get some sort of rally. Keeping the stop loss below that previous low around $0.40 makes sense when SNDL can easily go on a 50-200% streak in the next month or two...or...
Gold has made one hell of a run and I think the demand has been spent for the short term. I'm looking for a retrace down to the 50%-78.6% fib levels (the green box). If we get that retrace and a buy signal, I will increase my long term precious metals position to 20% of my portfolio. Right now I'm at a 10% position.
I'd expect a pullback down into the mid-March...
XAG is looking solid. I've been accumulating the SLV ETF as well as FSM, SVM, and PASS since December. The weekly candle for December 13th was the proof in the pudding for me. Seller exhaustion on both the MACD and RSI with confirmed classic bearish divergence.
Now XAG is approaching a confirmation of that double bottom. If XAG breaks the $26 neckline to confirm...
Sorry I've been away for a while. Back to the charts.
CGC is showing seller exhaustion on the Daily on the MACD, indicating either potential trend reversal or at least a relief rally. It's also down so much that there is ridiculous upside and comparatively smaller downside. I may turn this into a position trade if the market dictates it, but my expectation is a...
AEVA is showing potential seller exhaustion on the MACD and the RSI with classic bearish divergence on both oscilators; which indicates potential trend reversal. With all the downward pressure in equities, it's prudent to be searching for short term trades until we get some clarity. So, I'm mostly day trading options right now.
Entry: $4.16
Stop Loss:...
Gamestop is showing seller exhaustion just below an iceline. Ideally, I'd like to see this occur above that iceling. However, there is triple MACD classic bullish divergence and normal classic bullish divergence on the RSI on the 4hr. If it starts to play out then the daily will also show classic bullish divergence on the RSI and MACD indicating a reversal is...
Vechain is showing selling exhaustion on the daily and 4hr with triple classic divergence on the MACD and the RSI. In addition, there is a potential bullish dragon pattern with a double bottom at the $0.077 to $0.072 area. Looking for a 70%-100% gain with a potential 15% stop loss.
Entry: $0.0773
Stop loss: $0.065
1st Target: $0.127
2nd Target $0.141
3rd target: $0.18
Cardano is showing seller exhaustion at a strong support level. With a daily bullish engulfing candle, triple MACD and RSI classic bullish divergence, I took an entry at $1.18.
Entry: $1.18
Stop Loss: $0.92
1st target: $2.31
2nd target: $2.92
3rd target: $3.15
RKT is showing seller exhaustion here in a falling wedge. Triple MACD and RSI classic bullish divergence on the 4hr and the daily. I think there is solid potential for a reversal here. If not, the stop loss is clear. You don't really want to fall below the last low.
Entry: $14.21
Stop loss: $13.50
1st Target: $16.50
2nd Target: $17.75 (near the top of the falling wedge)
UNI is current showing strength for a solid upside move, and BTC is indicating seller exhaustion at that $40,779 area. Thus, I took a long on UNI.
Entry: $15.42
Stop: $13.40
1st Target: 61.8% retrace
2nd Target 78.6% retrace
3rd Target: $29
ETH currently has a potential bullish engulfing candle being painted on the daily along with triple MACD classic divergence.
First target would be $4,150, but I'd be looking for $4,632 as the 2nd target.
Stop: $3650
There is a potential higher low on UNI. This is after the bullish divergence played out. Thus, I'm only hoping for bullish convergence here. BTC might be painting a bullish engulfing candle, and ETH is currently showing seller exhaustion. I believe the potential H&S on UNI will be invalidated and we'll see higher prices.
If not, I have a tight stop loss.
Entry...
While I typically only like to enter a position when the asset is touching previous support, DOGEUSD is in an interesting spot at $0.1730. On the 4hr, sellers failed to even get negative momentum building after the bullish divergence on the MACD. Also, 4hr double bottom there at $0.1660.
After seeing BTC paint a bullish engulfing candle on the daily, I decided to...
