As always we will look at team, sector, hype potential and chart then decide on a position size.
This just opened for separate trading as of 07/01/2021. I was recommended this one by SPAC Mikey on Twitter.
* Strong financial services team - former Merrill Lynch / Goldman Sachs bigwigs John Thain and Phillip Cooper .
* Searching for goverment, defense...
IPOE ripping up is a reminder of how profitable it can be to get into SPACs near enough their nominal asset value (NAV).
Let's get after it, find some hidden gems, smash it and secure some profits. I'm absolutely thrilled to be part of this glorious moment in the market.
Today I am looking for promising assets that are at, or near, their NAV.
I am looking for a position in SOL.
* Currently a diagonal uptrend with thinning buy pressure
* Watch local support levels - if touched, consider laddering in a position
* Big sell off expected to dampen price today - quite a crowded trade. Watch and wait
As per my new 'zen trading' plan:
* I will be taking a 'fixed' position in this - a quarter position at...
I see INAQ as quite a simple prospect:
* Had an initial range up to high 13's (best place to get in to this instrument)
* Second range is between 13.8 - 16.00. Currently flirting towards the bottom part of this range
If the pattern repeats we'll see a third range up to the 18-20 mark. Or, it could surge up if there's a suitable catalyst.
For now, I've got a...
Many thanks to Michael Wang for reminding me to take another look at this old favourite altcoin (check out his excellent analysis under 'related ideas').
I have charted this before many times. NEO used to be a hyped project but has somewhat fallen out of favour, however what often gets forgotten is that the team are very active and continue to build and work on...
Zen trading is our new approach for 2021.
It is a trading strategy based on a simple concept: maximum upside, minimum stress.
From 2017 - 2020 we’ve tried just about every form of trading, every strategy, every angle.
We’re now in a position to adopt the approach that works best for me. Make it personalised.
A mature, minimalistic trading...
I'm still relatively new to SPACs so take this trading plan with a pinch of salt, and any feedback is welcome.
I already have a comfy position in IPOC (see my previous chart which was one of my finest) and banked a 40% + gain so far with very little downside.
Now we can see the price potentially finding a rather thin support level and targeting a move...
Pretty much played out perfectly as expected - entered on the support and was a springboard upwards.
My TA isn't particularly fancy - just support and resistance levels, price action, RSI.
But when you have a decent sense of the market players and the trend it can work well.
>> REVIEW OF PERFORMANCE
This is an update to my trading plan set out a month ago - Plan for December 2020 to April 2021 .
I set out these targets:
Add funds month on month - disposable income only
Monitor trends, but stop trying to snipe tops/bottoms
Maintain a watchlist and a few good sources
Enter positions only on good setups
Bullish on INAQ and scaling in gradually to this SPAC under $14.
I like SPACs between $10 - 13 as there is very little downside but a lot of potential upside just before the ticker changes.
Looking at this chart my plan is to keep scaling in according to this wicks on the diagonal trendline which are like clockwork.
So next buy would be around 12.90 tomorrow -...
Electric Vehicle SPAC which is nosediving after failing to break the resistance.
Two important support levels are marked off here. I would buy at both levels to be honest with you.
Any SPAC near or at $10 is a great low-risk investment and this one has the EV narrative, combined with a Definitive Agreement in the wings.
I will do a little more research but...
The price is currently hovering between 2 price levels that were established as a range back in July 2020.
We can see a triangle that needs to complete. Two possible points of entry scoped out.
I would have preferred to enter this when the 200MA was flipped a few weeks ago, ideal entry point.
There's a gap to fill and I do think the momentum is likely to be...
Interested in this SPAC and see a lot of potential for it in the coming weeks and months. This is the Metromile SPAC.
Looks like a rather rough bullish pennant forming. Happy for this to have some time to breathe.
The merger is set for Q1 2021.
Note to self: easiest trades are on solid tickets when they flip a major resistance to support. Usually a case of just sitting and waiting for the uptrend with a tight stop loss if all other factors are positive.
Problem is that I never keep an eye on things long enough to enter these trades. So, set some alerts and let the trade come to you on as many decent...
This is an old LINK chart that I drew weeks ago:
* Targeting the purple line as a decision point for the current trend
* Price has largely followed the direction I anticipated so far, still targeting this level
* Once it reaches this level I'd be looking at getting in with a tight stop.
LINK is not to be underestimated. When the normies enter the market this...
SPX is running and looking good, likely on the Biden / vaccine double punch. It's above the local resistance from last few weeks, now looking bright. I've placed the resistance level a little low on the chart here - but really, support and resistance are 'zones' more than specific price points more often than not. Perhaps I'll start drawing 'em that way.
BTCUSD is looking primed to cross 20k this week potentially.
The MACD is leaning bearish (signal line is above the base line) but this is narrowing. If we see a MACD crossover I'd be tempted to enter. The chart looks good and once BTC gets on a true bull run there's no stopping it.
Retail FOMO will occur once we cross 20k and the previous crash is sufficiently...