jmil

jmil

Possible path of ES . Obviously not a straight shot but eventual target. Break out of channel, bullish momentum and short sentiment bias amok. I think path is up for now but always adaptable to change.

jmil

BTC finally hit upper channel as thought it would back in early February. I underestimated the sellers remaining at the 11500 level and so it pushed timeline out a bit and so channel test was at a slightly lower price than estimated. The congestion zone on my chart is going to prove to be significant resistance and I would wait for a break above it to take...

jmil Updated 

As stated in prior post selling was to be expected as it entered the congestion zone of Jan this year. Lots of activity at that price zone and lots of buyers caught in Jan getting out now at even or close now that prices have revisited their entry. Dropped to 9500 as forecasted in prior post. Flipping to a 4hr shows heavy volume selling in red zone and 15 min...

jmil Updated 

Every one waiting for Crude to hit 63 to short it again, I fully expected it to rise on through,,trapping the shorts there and then drop again to a lower low ICL. That still may play out. This is strictly a short term trade based on rising wedge pattern with break to downside. Target is $60.46, $1.92 down but Id look to book a profit a little early. Selling...

jmil Updated 

Oil back testing the break down of a 5 month channel . Shorting VIA 1/2 handle in SCO half in DWT. I didnt think OIL would see new highs before falling again but thought they would squeeze some shorts out first so wary of trade and keeping tight stops. Target is actually around $54, with stall around $56 but ill look to take some profit and set trailing stops...

jmil Updated 

Follow up to prior BTC USD post. Appears bullish option of that post is playing out now. Two possible scenarios for BTCUSD here. May get a drop to ST lower channel line to retest 9500 area before a run to test upper channel 12000-12200 area. (most likely) Break of short term rising trend line and probable ABC correction to end with test of FEB lows. ...

jmil Updated 

Long DJACF on trendline break and back test. Ive been watching this pattern and thought we may get more downside off channel top due to sector weakness but risk reward presented itself. keep positions small due to minute volume normally traded in this stock. target $3.13 Stop $ 2.17 Profit 36% Stop loss - 3% Stops are tight due to low volume on the...

jmil Updated 

JNUG has now established a reactionary trading channel on 15 time frame within its larger daily channel. I would expect a test of 14.90 range to be a given but it may congest prices to mimic Feb 12th & 13th eventually testing the $15 area before making a move either way An upside break of channel line b would lead to test of 14.90-$15, line a, and an eventual...

jmil Updated 

Break out in gold today. 1HR chart showing the move from descending channel its been trading in since 1/25/18. I would expect Gold to retest shorter rising channel and prior top of 1345 area and possibly bounce between rising channel line and todays high until breaking out to test the 1365 area and then 1400. A move back into channel would have bearish...

jmil Updated 

DIA testing todays high. break that and 252.31 next target. Break that and open until 259.5 Break down and lower trendline in play.

jmil Updated 

BTC has obviously broken upside of rising pennant as noted on FEB 10 post. It has now formed a rising channel pattern and would expect it to continue its rise bouncing around the pattern at critical pivot points. Stops and entries can be utilized in this manner as well depending on trading time frame A break of lower black channel line prior to 10200 and...

jmil

Buyers appeared to have stepped in and Litecoin breaking out on good volume. Once it breaks out of congestion zone, the 280- 285 is 1rst target area and I Expect it will run to test DEC highs relatively quick. It appears to have already back tested BO from small flag and should remain trending up from here, A move back into pattern and below 221 would negate...

jmil Updated 

After revisting the post and moving lower trendline to coincide with tails as opposed to candle bottoms it appears the pattern did not break down and only retested lower trendline, The pattern has now broken out to upside and met R1. Lower trendline moved to tail bottom kept pattern complete and not broken to downside as prior post stated. Rising pennant has...

jmil Updated 

Channnel trade on litecoin. Channel is short but established and should hold for support but stops recommended as It may still want to retest the double bottom break out around 170. If so that would be safe entry as well with stops. I dont believe it breaks out from here.I think it will drift to channel line retesting the 210 support zone before breaking out or...

jmil Updated 

Do or die coming up for CANN on 1 hr charts. Triangle Continuation pattern in play, break down would be ugly but lead to excellent entry at lower prices when MJ stocks come back in favor. But a lot of indecision in candles,,Struggle between the bulls and bears for sure about to break one way or another. Id take long on break out and look for solid support below to...

jmil Updated 

Short target 1 was hit and now BTC futures forming rising pennant pattern on 1hr. The pennant is normally a continuation pattern but quality diminishes considerably when rising so confirmation of breakout would be advised. Concern is high volume reversal on bullish bars at each rising upper trendline touch. Bearish reversals each time it tests the upper line....

jmil Updated 

Follow up to earlier post. As stated in prior post, typically a throw over of upper channel then a close back inside leads to reversal to lower channel trendline. Not always but often enough. Thats held true here. The recent trend is down, and established a trading channel rather quickly off the highs. In early Jan the bearish trend accelerated. leading to...

jmil Updated 

A very real possibility if it continues its bearish decline.