westcoasttrader

westcoasttrader

UCFC is showing a cup and handle formation here. I prefer to see a handle retracement of the cup at 50% for best results but non the less this is a cup and handle. A #% entry of the horizontal boundary break for my entry would be $12.30 and a measured price target of $15.15

westcoasttrader

Looking to see if the double bottom in SCCO will manifest itself. Looking at a 3% rise from the horizontal boundary break for an entry with a measured target of $55.80

westcoasttrader

After reaching its ascending triangle target, that target is now providing support for the cup in this cup and handle continuation pattern.

westcoasttrader

KHC has been crushed this year but now is showing in to the right shoulder of a Head and Shoulders Bottom. Using the Edwards and Magee 3% entry rule I have an entry of $34.42 and a measured Target price of $41.55. This one sits of the watchlist.

westcoasttrader

AXN Ascending Triangle - Looking at a 3% pattern breakout entry at $77.6 and a measured price target of $109.05

westcoasttrader

ADNT Ascending Triangle - On the watch list. Looking for a 3% breakout of the pattern boundary which gives me an entry price of $26.69 and a measured pattern price target of $35.98

westcoasttrader

I thought I had posted this one already but no. Anyways HCCI showing a huge Ascending Triangle. I took the Edwards and Magee 3% breakout at $28.86 and have the measured pattern price target at $37.96. This one is showing good strength.

westcoasttrader Updated 

TMUS bull flag breakout

westcoasttrader Updated 

TSM IS IN A FIRM UPTREND AND FORMING AN INVERTED HEAD AND SHOULDERS CONTINUATION PATTERN ABOVE ITS 200 DAY MOVING AVERAGE. I WILL BE LOOKING TO BE LONG AT A 3% PRICE ABOVE THE HORIZONTAL BOUNDARY AT $47.07 WITH A PRICE TARGET OF $57.03 ish.

westcoasttrader Updated 

STNG - HEAD AND SHOULDERS BOTTOM FORMING, RIGHT SHOULDER SUPPORTED NICELY OFF THE 2OO EMA. WITH FUNDAMENTALS BACKING THIS TRADE IN THAT THEY LEAD THE WAY WITH NEW CLEAN SCRUBBER TECHNOLOGY IN MOST OF THERE VESSELS THAT IS REQUIRED BY JAN 1 2020 FOR NEW LOW SULPHER FUEL STANDARDS, MOST OTHER COMPANIES WILL NOT BE FULLY COMPLIANT BY THIS DATE.

westcoasttrader Updated 

OFLX HAS COMPLETED A LARGE CUP AND HANDLE PATTERN AND THROUGH MY 3% ENTRY PRICE AT $97.62.

westcoasttrader Updated 

PCAR has been developing a large head and shoulders pattern since January. Using the Edwards and Magee 3% entry rule this would put us at $75.21 with a price target of $91.71 and an entry stop at $65.94 giving us a R/R of 16.5.

westcoasttrader Updated 

SOXX ETF has been forming a nice ascending triangle since January. Using the Edwards and Magee 3% entry rule we have an entry at $227.48 a measured price target of $279.89 and an entry stop at $204.06 giving us a R/R of +52.41

westcoasttrader Updated 

OFLX IS FORMING A NICE CUP AND HANDLE ON THE WEEKLY CHARTS HERE. THE CUP WAS WELL SUPPORTED BY THE 200 EMA FOLLOWED BY GOOD SUPPORT OF THE HANDLE ON THE 100 EMA.

westcoasttrader

EXN rectangle breakout today.

westcoasttrader

IYJ industrials etf large head and shoulders continuation is starting to break out. I generally use a 2.5 to 3% entry above or below the breakout for confirmation before entering.

westcoasttrader

More on the Uranium market. URA is working towards its apex in a 17 month descending triangle.

westcoasttrader

With massive amounts of supply coming off the market especially with Cameco just announcing a sustained shutdown in 2 of its large mines the Uranium market is severely depressed and supply demand issues will start to rear there head soon. SYH showing near completion of an Asymmetrical triangle on the weekly chart.