Nice controlled pull back happening. I'd like to get this in the 130 zone for a pre earnings run. Could take off again any day though.
PINS has sold off hard following the bearish harmonic completion. All three targets on that trade have been hit. Its now coming into a buy zone so I will be looking to start adding back to my long position in the 70/72 zone.
Watch 330 for a break higher. Could yield a move to 355.
I had a few requests for a Gold chart so here it is. Gold has been slowly grinding lower since the highs above 2000 last August. Its been a painful time for PM holders as price manipulation and BTC has stolen some of it luster. Seasonally Gold does well in the summer months and it seems gold is catching a bid here off the longer term 382 Fib. It has confirmed...
BTC just sold off sharply after news of possible bank regulation. This is the sell off I've been waiting for as I'm looking to add to my core position. Personally I'm not worried about the potential for government regulation as I believe BTC has become too wide spread for anything to touch it now. Literally all the governments around the world would have to ban...
Here is a long term look at the SPX which has rallied strongly to the top of the parallel bullish channel. The level of interest to me is the 4500 zone marked with red box. As you can the current trend angle is 72 degrees. We have not seen an angle this steep since the rally from the 2009 lows. I would not be surprise to see a parabolic push into 4500 and then...
PINS has come into significant resistance as this bearish harmonic completes. Trimming positions or hedging a pullback would be prudent coming in to this zone. Entering a new position right now is not recommended as cheaper prices in the coming days are likely. The pattern is invalidated with a daily close above 90.
I like the consolidation below the 618. I have alert set at 98.60. Break above that level could yield a move to 102. If it drops back below 96.50 I'm not interested. Additional Info: I am an intraday scalper and short term swing trader of stocks & Futures using options and equity. I focus on high volume momentum stocks in strong uptrends. My time frame is...
Massive move today. Would love to get this on a pull back to the green box, but may not get a chance. I have another alert set at todays high. A break of the high could get us up to 82.20. Additional Info: I am an intraday scalper and short term swing trader of stocks & Futures using options and equity. I focus on high volume momentum stocks in strong...
SHOP has been on a bit of a roller coaster ride. First breaking out of a long term base then pulling back into the base on 400 point round trip. It's a long term hold for me but I like to trade around my core position because of the volatility. If price can break the 1190 level a move to 1290 is possible in a short period of time. Additional Info: I am...
Here is an updated NAS 100 chart using the E-mini as that is what I am primarily using to trade this these days. Price broke out to a new ATH today negating the bearish harmonic I have been watching. See previous posts. The price action has been extremely bullish, but at the same time somewhat parabolic. I have drawn in the the Fib extension levels I will be...
TSLA broke the neckline of the basing pattern its been building and is now above 700. The next target is now 740 and if it can get above that level and hold a trip back to 800 is likely. See previous post.
I hope you guys didn't take this one off your radar. It's been a slow move but watch out if this gets going. Like I've said before. AAPL is like a super tanker ... very hard to turn around, but once it gets going hard to stop. It has broken above the 382 so then next target would be 130. These are the kind of names in favour right now. Companies with 0 revenue...
NVDA closed above the neutral box (618fib) today. This is bullish if price can hold this level and then push higher. I would expect some short term consolidation and maybe pull back.. There is a good chance the completion zone of the harmonic I've drawn will act as a magnet for price. The reason why is because once a stock get momentum traders have less and less...
The NAS 100 managed to break the top of the neutral box last night. The top of the neutral box should now provide support and a launching pad to go higher. That said a bearish harmonic a now in play as well coming into 13500. The harmonic completion zone is likely to act both as a magnet for price and then resistance. Watch for a reversal pattern in the red...
GOOGL has broken out to ATH from a tight range. I'm a expecting a pull back or some consolidation in the NAS/QQQs so I'm hoping this will pull back to the green zone and give me a good entry. The red box should act as short term resistance. My entries would be on a pull back to the green box or wait for some consolidation at the red box and a break higher. ...
The tech stock are still stuck in neutral making that trip back to 12800 yet once again. I would expect that many trades are looking at this giant triangle pattern as well. Until the pattern is broken we are stuck in chop.
An absolute ton of growth names have s similar look to FSLY right now. They have all sold off hard had a relief bounce and are now testing support again. My play on these is to watch for a gap down tomorrow or and early flush below support then reclaim and then make a higher high. Setups like these look obviously bearish and suck in a lot of shorts only to...