Just like everyone think GOLD is going higher, people are overly bullish oil because of the war, blah blah, *insert your fundamental bias here.* The reality is, the chart looks like shit. Price just rallied directly into resistance and has now formed a lower high confirming resistance at $79. The price of oil is going much lower from here. I wouldn't touch...
Like many of the other tech stocks META looks extended here. I could see one more move up into the $350 region, and if it hits there, I think that sets up a good short opportunity. Lots of people saying we're starting a new bull trend, but what makes me think that's not true? In a bull trend, you see a slow rise up, not a 300% bounce in a year. That indicates...
As you can see from the chart, TSLA broke down from a flag, hit the flag target and then bounced. What makes the most sense to me here is that the flag gets retested as resistance before falling further. That would make the top target around $260 around 6-8% higher. If that level gets tagged, then I think that would setup a great short opportunity down to the...
If you've been following my ideas over the last few weeks, you'll know that I have a macro bearish view going into next year. I think the market is setup to drop 30-40%+. I know everyone is calling for new highs (Tom Lee, looking at you), but it's not going to happen IMO. We're not in a bull market, this is still just a bullish bounce within a bear trend. I'm...
NASDAQ:BAND seems to be consolidating for a large move higher. As you can see from the chart, band broke out from almost a year long bull flag, has been consolidating in a channel and now looks to be ready to move up. Should it break higher, I think the first stop is around the $4 level. If it continues, potentially $7+. Let's see what happens.
COINBASE:AMPUSD looks like it's ready for takeoff within the next week or two. It's been building a base for the past 6 months and looks to be close to breaking out to the upside. Once price can move above $.00273 and retest that level as resistance, there should be a swift move higher. I'd expect price to surpass the .00383 level and head to the top of the...
DIMO has had multiple tests of the $.135 level and is now consolidating in a bull pennant below resistance. Should price break the resistance right above the bull pennant, it should propel price up into the $.23 range (or maybe higher).
I know everyone is getting excited about IWM as it's rallied a lot over the last couple of months, but I think it'll face some pain in the coming weeks before it really starts to outperform. I am of the mindset that everything has it's cycle and I do think that going into the next bull market, that QQQ and SPY will underperform relative to IWM. That said, I...
The popular narrative is that NASDAQ:MSFT is going to benefit from AI and if there's a downturn, the stock will hold up. I have a different view. I think we've topped here and will only see lower prices going forward. Over the next year, I anticipate NASDAQ:MSFT 's price dropping sub $200 to the support levels on the chart. Only thing that would change my...
NYSE:FLR looks to be setting up for a large move higher. It's sitting right above support right now basing before it makes a move. Because it's in its first cycle, I could see it surpassing it's previous ATH and making a move up to the $.048 resistance. I've marked off key levels below just incase price stops before hitting the top resistance.
I've been waiting for this moment for the past two years. Over the next week or so, I expect a high to be put in on the stock market at ~$441-$446, and then the market will be in down only mode for the next 6 months to a year. I don't take joy in seeing the market fall, but from a trading perspective these opportunities only happen once every 10-15 years and...
Updating my previous chart as we've continued higher over the last few weeks. Even though that's happened, it doesn't change my bias that we're at the top of the market and that we're about to see a 30-40% after we top. I think over the next 2-3 weeks, we'll see one last push higher which will pull in more longs before dumping on them. I think we're likely to...
NYSE:FET looks like it's bottoming. I'll be buying on a retest of the support line $.214 and selling at the upper resistances $.63-$.66
COINBASE:STXUSD is one of my favorite looking charts for upside potential. STX, $ SYN $ XRP and $MASK are all charts that I've been looking at that haven't run yet. Therefore, I think they'll be the next set of coins to run after BTC pulls back. If we look at the chart, you can see STX has broken out of a massive bull pennant and now has formed a bull...
As I wrote in my last post on TLT, I had a target of $88. $88 was hit on Friday and is now slightly below it today. I went long both via spot and calls. I took March 15 2024 calls at a $101 strike price and I'm anticipating a large move higher playing out by then. I've marked off resistance levels on the chart. Let's see how it plays out over the coming...
This is a small timeframe trade. I think this move likely plays out over the next few days (if it's going to happen). As you can see, we've broken out of a bull flag and have tested this upper resistance multiple times at $.1435. Since it hasn't broken this level yet, I think what's most likely from here is for price to reject back into the lower support levels -...
I haven't charted BTC since back in October, when I thought BTC could fall to $15.8k . Turns out it hit that level and bounced. I ended up buying that level and sold it at $17k for a quick profit because I was unclear of the direction going forward and I thought there was risk for BTC to fall to $12k, but it has since bounced higher. Now the trend and the...
BTC looks like it's ready for it's final leg higher to retest the structure it originally broke down from. The final target should be somewhere between FWB:42K -44k. I do not buy into the bull market narrative, this is a bear market bounce. So just be cautious when people call for new highs as we approach those levels. Alts can have 5-10x moves if this move...