PSLV is another vehicle I'm using for my long silver trades. I like it because it it redeemable for physical silver in small increment than SLV and the share price is lower. More or less identical chart to SLV and looking like it may gap up tomorrow by 4-5 %. Resistance should be found in the 10 - 10.50 range. Look for a pullback entry or wait for price to...
If you have followed me for a while you would know that I am long silver and like it long term.. The challenge in holding precious metals is the constant manipulation and choppy price action. The price will get spiked to draw in smaller players and then heavily shorted back down by the big guys. Its especially a massive scalp play operated by the giant players..ie...
Holding last weeks low so far on Sunday night. This was my first level of support from my previous chart. There are two harmonics in play on the 4H. I drew the deeper one that takes us down to 12500, which I feel may be a magnet for price. The other harmonic has already completed in the 12750 zone where price bounced from. The general feeling I'm getting from...
Just an updated re post of a previous chart. Silver and gold moving tonight. Same scenarios as before. Precious metals are better to hold longer term. Price action is very erratic and possibly manipulated.
In a previous post I described how taking note of the weekly close is an important part of the chartist's tool box. I pointed out that the ES had only closed below the previous week's range twice since the March low. This week was the first close below the previous week's range in 13 weeks. It is bearish, but needs confirmation with a price move below this...
After the sell off yesterday here are my levels to watch. If the low pivot it taken out watch for the previous week's low to hold as it is a key level. If that level is lost a flush down to the higher time frame 382 which has confluence with the 1.618. Currently sitting in the neutral zone. A move back above the tan shaded area would be bullish.
I have an alert set at 140 for this one. It has tested the level (which sit just below the 618 fib) several times. If price can push through I would expect a good sized move. Initial targets would be the 786 and 886 fibs.
NAS 100 hit my target zone from my Monday chart. Price is continuing higher during the overnight session has broken out of the wedge formation. The 1.618 is probably acting as a magnet right now, but the divergence in momentum makes me cautious.. With this in mind I will continue to trim positions quickly and reduce my size especially with long options. When...
BTCUSD is offering a good example of how I like to trade pull backs of a strongly trending stock or instrument. 1. Identify a high probability area for a reversal. 2. Look for a lower time frame reversal pattern. 3. Wait for the trade to trigger then enter. 4. Take take profits at key FIB levels (236/382/618) if price moves in the expected direction An...
If you follow me would know that I have been watching ZM. I was targeting. 335/325 and made an entry in the 350 zone. I took profits at 364 and got stopped out on the remainder on the drop back to 324. I have since re-entered and now looking to add with todays look on the break of this basing pattern. Stock has some range so plan risk carefully. Hope the detail...
The chart speaks for itself. Looking for a breakout to new highs above. 200. Alert set at 199.6.
BTCUSD sold off hard today, but has found support at the highlighted pivots on the chart. Many traders are probably expecting the Head and Shoulders neckline to break. If that happens the measurement would take price down to the 22K area. That said, I would not be surprise to see a re-test of the recent low and an undercutting flush to the green zone then a...
I have been in this since my previous post on Jan 7. The 126 pivot was my break down point and price has managed to hold that level and break higher. My targets from here are the ATH and fib extensions. Please check previous post and updates. Stops have been moved up below todays low.
Post earning NFLX is holding the the ATH. A break of the high could yield a nice move. First target zone would be the 600 area which could be significant resistance, but above the the red zone there is plenty of room to 675. Watch price action closely and use patience. Price can easily reject here and fall back into the the large consolidation box.
I like the looks of this chart. Price seems to be attempting a break out of the long term base. If it can get through 30 that area would provide good support. The stock has run up a fair bit to this point so I would like to see some sideways price action at this level then wait for a break. If price cannot hold the tan box I will watch for a pull back entry at...
The NAS 100 is making a promising move Monday night after the MLK long weekend. Price has held the previous week's low so far which is key. If price can clear 13000 look for a test of the highs this week and a potential breakout to the fib extensions. If price reverses the previous week's low and the recent range 618fib is the level to watch on the down side.
When the price of an instrument starts to consolidate I like to use harmonic price action to pin point zones for an potential entry. If the instrument has been trending strongly like BTC I always focus on patterns that are in line with the dominant trend. Obviously BTC has been a strong bull trend so here are a couple of potential bullish patterns that may form. ...
GOGO working on a breakout from this long consolidation. The longer the base the better the break if it goes. So this is worth watching. Risk is a close below my smaller tan box. Targets will be added if its break.