I think XAGUSD is at the top of the channel and will most likely fall. The 1 week graph shows that it's in a descending triangle as well.
Will short USLV Monday.
Looking for breakout of descending triangle in GDX on either side. Currently leaning more towards the short side as there is no volume to push price out of the top of the triangle. Gold is also kind of topped out.
Will probably get into DUST on 08/01.
NVDA is on top of its channel and at resistance. I believe this is a good SHORT entry as tech stocks have been rallying all year.
I entered my short position at an average of 165.5 and looking to cover in between the green lines, or before ER (depending on price action).
NASDAQ:AMD is currently trading inside an ascending channel, which looks pretty solid at containing the price action. I would wait to get into AMD later as I suspect the price will drop to the bottom of the channel.
Target entry at around $13, target price is sell is whenever it hits the top of the channel. (Or sell out at the resistance of $15.67).
XAGUSD is contained inside a descending channel that could potentially be a wedge.
3 bearish signals are:
1. price is at the top of the channel
2. RSI is moving lower
3. Faster MACD line is about to turn and cross the slower moving line.
Started a short position in USLV this morning at $11.63 (a little early but should be profitable soon).
NASDAQ:AMRS graph is rounding up, similar to what it has done in the past. The area between the red lines could be a consolidation area before the price breaks higher.
Rising RSI also gives a bullish signal.
Considering going long on Monday 7/31 with the target at the green line.
