The QQQ have been on a tear for about a week now. If you we're watching my analysis from 3-4 weeks ago you were aware of the inside bar setup that I was waiting for a bullish breakout of. Although we had a false break down on 5/23, price immediately recovered and the bullish breakout that I had been predicting did ensue. The price action on 5/23 produce a very...
I provided analysis two week ago where I laid out a case to go long on a pullback to the 109 region. There were two ways to trade this, either a more risky zone trade or waiting for a price action setup to go long. Price did reach this zone and then formed a double inside-bar pattern that broke out very strongly to the upside. Looking ahead I will be watching...
Price has had a small bounce off of the bottom of the pennant that I have been discussing for the past few weeks. This is a bearish bias pennant and one that I am watching to go short from. There are 2 potential trade setups to get short, one is simply going short on a break of the bottom of the pennant, which will confirm the pattern. The second option is if...
I mentioned in a EURUSD video analysis 2 weeks ago that we might see price drop a bit further and then reverse back up to potentially form a head and shoulder pattern. That looks to be exactly what the EUR is doing right now and is now only a short distance from a key resistance level where we will be intently watching for trade setups. I will be watching for...
While I am personally trading the SPY due to it's great stock and options liquidity there have been a number of great bullish signals being through in multiple index and futures markets. Today I focus on the NASDAQ 100 futures and point out a nice inside bar/2 bar reversal pattern that as already broken out to the upside as well as an inside bar/ false break...
The USDJPY sold off overnight with a somewhat aggressive recovery by the bulls. While the bulls have recovered a lot of ground it does not look like enough to convince we to be a buyer. I will be watching for 2 tradeable outcomes 1)there is another false break lower with another sharp recovery (perhaps a double bottom pattern) in which case I would consider...
Bitcoin has been forming a bearish pennant pattern since early 2018. When looking at the pennant we generally make our bias whatever price was doing going into the start of the pattern. In this case the pennant began shortly after a very strong selloff in bitcoin that saw 50% of it's value disappear. That would make this pennant bearishly biased and we would be...
The patience, discipline and accurate technical analysis has finally paid off in a big way. For those of you who were on the right side of the market with me, congratulations. After more than a week of consolidating and multiple bearish signals on the hourly, daily and weekly charts, price has finally broken out of it's range in a very bullish manner. Some of...
The markets have taken a bit of a breather over the last week or so. This type of price consolidation is common after a strong move and can provide good opportunities to get into the market for the next leg. In this case we have price still consolidating but starting to hug the upper range of the consolidation area. A potential entry is on the breakout of the...
In this video I discuss key support levels where selling short options for both premium as well as direction(if price bounces higher off of key support) can provide a highly probably and profitable trade setup. There is far more to options that I can fit in a 10 minute video but if you are unfamiliar with them I encourage you to research options. They can add...
Last week we saw an inside bar pattern form on the ES. There was a false break out of this inside pattern. Price pulled back in and continued to consolidate. Going into the Monday morning trading session it looks like we will have a gap up and may finally see that upside breakout to start the next leg up.
In this video I cover a few of the price action patterns that formed last week which became quality trade setups themselves. I also take a look at the most current price action and what it is telling me about where the market may be heading this coming week. I only cover a handful of the patterns as there are many other patterns at play such as rising triangles...
As predicted in my analysis last week, Ethereum has begun blasting off. Prudent traders were watching the bullish flag pattern that had form and watching for a breakout of the upper channel of the flag. Due to the very large size of this pattern we could see quite a large rally in the days, weeks and even months ahead. If this is a pattern you are trading or...
In this video I provide a follow up analysis to the daily bearish pin bar setup that formed yesterday and look at some bullish patterns forming on the hourly. Because we are still in a bearish trend on the daily, but have bullish signals on the hourly, this is the time to remain neutral until the markets give clear direction Overnight the bearish pin bar setup...
There is a fantastic, high quality flag pattern that has formed in Ethereum. I just posted a video about the morning star and pinbar bullish setups in the daily candles and now we can see a strong bullish flag pattern in the hourly chart. This is creating a confluence of signals that all are pointing to a bullish breakout. If the breakout occurs it could set up...
In this video I discuss the 4 bearish signals in Bitcoin right now and why I think it is highly likely price will continue to tumble from here Bitcoin is in the process of forming a text book bearish pin bar. BTCUSD has been in a strong downtrend over the past week or two and has staged a minor pullback. This was a moment of truth for the bulls to see if the...
In this video I show some good past setups on the EURUSD that would have been profitable as well as take a look at where the markets may be going over the next week or more. I focus primarily on the inside bar pattern and some potential ways to trade these setups. Since early this year there have been a number of high quality price action setups including...