Gold just touched its ATH. This is resistance until proven otherwise. Trade idea is to enter a short on breaking $1917, with a stop of $1922 or so.
I will not be making the trade as I don't have no way of shorting/buying gold futures... but I will add to positions on a significant correction.
I longed some silver via SLV since $15.50 spot. Silver is now at a major trendline and horizontal resistance area . I am looking for a correction in metals ( gold , silver ) to shake out weak hands, which may be a buying opportunity for the future. Ideally, silver may get back to the $16-14 handle. Above $20, I may add to my position on a breakout.
Gold is at a...
I've been following Organigram, and the pattern its been putting in since the March lows in the market. I am interpreting this as a possible IH&S. While the daily is shown here, a look at the weekly shows a bullish pinbar at this level where the "head" would be. Price has declined to where the bottom of the shoulders would be. If my hypothesis is correct, we...
I first looked at this frac-sand company at like $170. It's trading 1/100th of that now! Between May and June it printed a bullish divergence on the daily RSI. The cross above the 20 daily MA today is nice, 9% gain on above avg volume, and monthly RSI has just tapped 30.
This is a lottery ticket, in terms of risk/reward. Buying 100 shares for fun and will...
Latest chart. Bitcoin is still consolidating. I'm neutral, but it looks slightly weak, especially if it crosses below near-term support into the Bermuda triangle. A strong break above the thick downtrend line would be somewhat more bullish.
This jumped out at me when viewing the weekly chart : The formation is similar to some variant of a complex IH&S. The head would be the floor at $13.73 and the neckline is the top blue line, downward sloping from $54 to its current price at about $45. If the pattern is legitimate and Twitter broke above it, the measured move would be toward the $80 region....
Hitting the open/close price of the December 2017 and January 2018 monthly candles. Anything higher than this is the monthly wicks... could sell your longs here (I sold 80% of my longs). A short would require a stop. This is not financial advice.
2 daily wicks in a row, 3rd day closed within the wick. 4th daily (today) has a small daily body still inside the wick. As a trade, you could sell/short a break of today's daily low at 11030, with a stop above today's high.
Not investment advice.
If gold breaks out here, it will complete a 6 year consolidation pattern, and the measured move target would be $1688/oz. The pattern could possibly be called a complex inverse head-and-shoulders. Confirmation is required. Not financial advice.
After a brutal beatdown, there appears to be a bit of bull divergence on stoch RSI for this stock, and it is now crossing up from extreme oversold. Also breaking a downtrend line. Floor is $2.35 for now. We shall see.
LTC looks very strong but worth noting: This oft-tested LTC level originates on my chart from Feb 2018. We COULD be looking at a throwover of a rising wedge pattern -- it would be bearish if price falls back into the wedge.
Long term, I expect LTC to hit $600. In the short and intermediate term I would be cautious about longing from here.
My latest chart on Bitcoin showing what I think could happen next. BTC/USD just had a double-top at $9000 ($8950 on Coinbase hourly), which could be an intermediate top. Since we had a golden cross and huge resurgence, I think the next bull cycle could be ready to go, but I am anticipating a potential 30-50% correction to form a higher low. I have set some buy...
This 3 month range/triangle may resolve soon. BTC/USD is in a position to break out, if price moves not too far up from here. It would not take too much, IMO, to generate the short liquidations and FOMO from here. A buy stop order could be placed above the recent swing high, shown here at 6834 on coinbase (red line)
I have been long since 6200 on 9/18, with daily...
I bought the breakout of the 6630-6500 range yesterday. Since then we've seen a few up moves. Right now we are seeing inside hourly bars, they have all closed above the 20 and 200 moving averages.
You could buy a breakout above these inside bars, or take profit/short below it. I wouldn't open a long term short here. Short to intermediate trend may stay up. My...
We are down near the crash lows and this pattern came out. Similar to a C&H but not textbook. Lower low, and clear trendline that could be broken. If so, target is 175. Unfortunately there have been many false breakouts / bull traps in the last month, so enter with caution. The 200period moving average could also provide some resistance.
After touching a trendline from September, BTC/KRW has made some higher lows. This cup & handle pattern (also could be interpreted as an ascending triangle) could break out soon.
If so, I think it would provide some level of confirmation for more upward movement in BTC/USD and LTC/USD.