Well, finally it dumped.
The market FOMO was obvious sign, I entered yesterday SQQQ and regretted it as I should play VIX.
Well, next time.
Tomorrow should be green, I dont expect wave b to cross $207.
When it does reach 207, back to shorting to wave C and then wait and see which way market wants to go.
Most likely, with the help of feds, we'll start new bull...
Ino again falling :).
lost its short term uptrend and heading towards long term trend.
The good news is : its still in the uptrend !
Buying will begin in around 10.40 zone, whee trend-line is.
If that fails next support is at 9.60
Good luck !
Besides quick trades I don't hold position in INO
Because of heavy decay on UGAZ, I will refer to chart i made on NETGASUSD, which is true reflection of the current situation.
comments below are for NETGASUSD
link to the chart:
On daily i see potential bearish pennant , But in overall its still 50/50 on the price...
I am going to enter small short position in 314-320 area.
target for Elliot Wave #5 seams to be 314, which would mark double top from March 5 bounce.
we should start abc correction mid next week (tuesday- wedsday?)
Will go bigger if we brake 305
My target would be around 282
watch closely period of June 5 - 10 , stay in cash if you're long.
Could this be final...
On daily i see potential bearish pennant, But in overall its still 50/50 on the price movement.
I will stay on the sideline and see which way it will go.
The signal will be braking the resistance or support. In any case target will be around 20% gains.
I would love quick flash to the 1.25 and then sharp up movement, but time will tell
Short term (next week) I...
My trading buddy suggested this tool to me.
Not sure if in the current rigged market its relevant, but worth a look I guess.
It works well and it shows correction to 285 level.
no position at the time, but ready to jump in.
Looks like CRON is next for a run up.
MACD on daily and hourly is pointing up.
Very tight range.
It may fake out downwords movment, but I am very optimistic on up direction.
My first target is 6.85; lots indicators pointing towards it.
Two other targets are resistances. I'll take one step at the time.
I am going for a swing as of this morning.
Good luck and stay healthy !
I am scratching my head with disbealiev, but I guess I am not dreeaming.
SPY had pullback was 30% from 3% gains a day before. Very heatlhy , but done in crude way eod.
First Elliot is done and looks like second is coming. My target is 302, 312.
Whats going to happen after is most likly bear market, with rally during elections. (unless its messy election , which...
Acreage broke its downtrend line on Friday.
With cannabis sector rebounding it could be very solid play.
Upside is huge, but it all depend on CGI where its going to be in the next few weeks.
I wouldn't recommend it for trading as its thin, but Its a good long hold as I would be surprised if legalization in US didn't happen this year.
Seams gas entered uptrend movement.
Unfortunately it failed two potential bounce points. Marked by red circles.
Next one is possible bottom of H&S , which I only noticed after the fact ; marked by green circle
and last is weaker trading support line.
If all fails , its back to downtrend and next support is at around 1.50
Good luck !
Would you invest in SPY knowing that it most likely going to tank next morning.
You wouldn't , but feds are.
My old setup may still play out (large H&S), but it may struggle.
We open with a gap up, I expect sharp sale off at the bell or during unemployment report, then if 282 doesn't hold further pullback tomorrow.
However that chance is slightly overshadow by...
The elliot is not really valid , but it helps me to see clear wave movement.
INO is news based stock, High risk high reward. as long as it stays in the race for vaccine , it should be fine, but one bad news of failure can take it down to $2.
That race can last for months to come, so there is opportunity
I traded it few times and it works well with Fibs.
Finally bounce !
I think its tracing abc line after a March lows run up.
currently climbing to "b" , should reach something like $287 and then down to $244.
I think "c" will merge with big H&S thats forming.
I wouldn't be surprised If Feds start printing money again at around $287 ; in that case entire setup will go to dust.
Good luck !
I dont have position...
After couple of days consolidation APHA is making a move to finish Elliot wave #5
Strong resistance is where almost 2 year old downtrend line is at around $4 US .
I am not sure if it has enough steam to take it in one shot , but if SPY correlate it should be no problem, as I expect short squeeze around that level.
Possible trend change ?
I think it is.
1. Elliot wave points up, first time in months.
2 broken daily downtrend line (significant).
3. latest bottom much higher.
4. monthly also indicates bottom.
5, clear curving trend
on 5min so far re-tracement to Fib .38,
It really needs to brake $2 and hold above,
looking for confirmation and I will enter starter long...