Just discovered SLV is forming a triangle pattern at this resistance level ($25). Something to look for:
Case 1) A good entry point in the next couple days if the price remains in this area
Case 2) Price would be less volatile approaching the end of next week
If 1 and 2 are true, the price likely goes up and tests the previous high (above $27).
P.S. I still...
This triangle formed perfectly on the resistance level and is about to explode soon. Good loading timing would be tomorrow until early next week and likely to see a significant change in a week or so. Play safe but expect to see a break above the previous high!
next earning call is happening in just a few days and the stock keep dropping since last week. Now the next downside we should be watching out for is the ~$3.3 range. Is the earning call releases just expect normally we do not have much more downside.
Keep reward-risk ratio at above $2 and let me have a quick update 1) after the earning call 2) within next 3...
#6 trade of the month - probably the last trade of the month
Got in around $82.2. J is now testing the next resistance at $85 soon and target 1) $90 and 2) $97 by next month and cut loss at $73.
Literally everything has been up this month so be greedy when the market is up.
Trade #4 of this month
OGI further dropped down below support level of $1.15 and don't see there is much downside from here. If it goes back up to the important level at $1.5 that would be a 33% gain so it's not illogical to take a risk this time.
Trade #3 of this month (to be confirmed)
Forming a symmetrical triangle if the price is gonna consolidating over this week. If that is the case, an entry level shall be made around there with a risk-reward ratio of 3. Time to be a bit patient over these couple days...
Trade #2 of this month
MACD reversed to green for a week - checked
EMA crossover above MA - checked
Price closed above EMA10 - checked
1 more week to accumulate more until approaching the tipping point of the triangle. Still not too late to get on the roller coaster!
Trade #1 of this month
Yes MA200 EMA50 MA21 are all going downtrend but I think this is a near-term bottom. Entry around this level with a small position with first target at $44 and second target at $49.5 for the next two weeks timeframe and reduce position at $36.5/$32
Risk-return ratio at 1.2 - It's not a lucrative ratio if you are an aggressive type trader...
Every 3-5 years or so, there is a short correction in the market and it ensures the market to grow sustainably. Although this is a complete different scenario compared to 2008's situation, the downslope pattern is quite similar. A downtrend is a downtrend.
I believe that the bottom has not yet came by looking into the downtrend timeframe. However, it likely...
When was the last time that GOLD up more than 15% in a month? Maybe 2011? For someone long GOLD this is somehow too good to be true. After the crazy rally and now is getting a little uncertainty. Yesterday it hit the uptrend resistance at 1720 level (3rd try since Feb 2020) and now moving back to the average at 1680 level which is rather a safe entry...
EMA and MA crossover since the previous downtrend so it could go up to the next bullish signal given the price stands at this $18 range the next couple days. On the other hand it hit the resistance level so you may consider realise some/all of the profit if you bought it last month.