MicDrop5

MicDrop5 Updated 

Everyone is bullish right now. And yes, the SPX could moon to 4700. But here's why I'm exercising caution now.

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Risk/Reward right here is too good not to take a small position with a tight stop. I'll probably get stopped out, but that's fine. Second buy zone is also shown.

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Nice risk/reward here for shorts on higher time frames. I'm playing this one with a wide stop and conservative entries.

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The opposite end of a swing can give clues as to what to expect is likely from price action at a zone.

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Decent Reward/Risk of 4. Excellent setup on high time frames.

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RELX has performed a liquidity sweep above previous ATH and is setting up for a lovely example of what I like to call a bullet catch pattern. The catch is considerably wider than the impulse move (bullet). The street trapped retail traders above the ATH in longs and can now flush this thing. The key here was the candle BODY close below the orange line. That was...

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Normally I use pure price action to make my trades. This however, is a pattern I've noticed based on some of my best trades over the past year with probably about an 80-90% strike rate when I find one. So let's call it the "Bullet Catch Pattern". You notice that over a large number of candles, price has done a slow, steady reversal in either the upward or...

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FTAI is showing a good risk/reward setup here for a short in this range. Entries are scattered across red zone. Stop loss and PT's shown as well.

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Sweet Risk/Reward for a short entry in this range. Watch the weekly close.

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This trade may get stopped out like any trade, but the reward/risk here is exceptional at 6.46.

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To Ensure Proper R/R, The Bulk Of My Short Orders Are Weighted Near The Top Of The Zone. I Like To Refer To This As A "Bullet Catch" Pattern. From Oct-March, Price Slowly And Deliberately Rejected The ATH. This Is A Weaker Move To Fill Shorts.

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I'm scaling into a short on PulteGroup with excellent risk/reward. Staggering to me that home builders across the industry are seeing their stocks soar today, despite an absolute routing of their revenues. There is a lag in revenue reporting and the distress they are experiencing will be reflected in their earnings soon. From a technical standpoint, this trade...

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AIG looking like distribution on the larger time frames at top of range. Good risk/reward as pictured in my opinion.

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On the weekly time frame, DHI is nearly at a short zone with a 3:1 reward/risk as pictured. Fundamentally, there is no reason for homebuilders to be rallying with home values crashing in the new home industry. I'll be spreading entry orders for shorts across the red zone.

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TAK showing large wick rejection on weekly. Reward/risk here is 3.0 with trade as pictured and entries scattered across the red zone.

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CL showing massive wick rejection on the weekly at previous resistance. Risk/reward as pictured is excellent with entries, stop loss, and PTs as shown.

MicDrop5 Updated 

AMD showing three weekly rejection candles at resistance level. Excellent risk/reward with entries, stop loss, and profit targets as shown.

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Risk/reward is good here for a short with a stop at all time high, as pictured.