EliteTrader101

EliteTrader101

After trading forex for while, stocks look easy in comparison with a lot less chop. The levels look clear to me of how this may play out. I was having a hard time shorting TSLA because there are so many buyers plus it already fell from its high so I realized that over hyped stocks like NVDA and AAPL are easier to short because they haven't had their correction yet...

EliteTrader101

I'm using a combination of gap fill, fib retracement, 123 pushes, VWAP and daily No Demand bar to form a high probability trade to the downside. So many different styles of traders will be involved in this short.

EliteTrader101

US dollar is strong so gold and silver will drop as the measured head and shoulder will drop to the demand zone at $16.

EliteTrader101

There is a cup and handle pattern formed during the past couple of years that should take it up to 1.50 area, but there is also a multidecade cup and handle that could take prices up to 1.8. The weekly chart shows a false break of a triangle to form a W and is now about to breakout to the upside of the triangle to begin the trend. There will be a short squeeze...

EliteTrader101

UCAD is forming a triangle and I think it will drop below the previous day's low to hit the stops, then reverse back up to the other side of the triangle to begin the move. It will probably drop 5 pips below the previous low right at a demand zone and a VWAP support. This will be a very high reward trade with a tight 10-15 pip stop. Gold and Silver looks very...

EliteTrader101

A big head and shoulders is forming. Retail traders shorted on the bearish engulfing pattern, but smart money pushed prices higher to the supply zone. This caused retail traders to buy to get out and caused others to go long providing liquidity for smart money. Now that there are no more buyers left they are going to start marking down prices to various levels...

EliteTrader101

A giant Head and shoulders is forming so prices should drop back down to fill the gap at $217, then it should rise back up to form another mini Head and shoulders which should take it back down to $200 which is the top of the range in March, which is also the 200ma on the daily and the weekly and is also the 50ma on the weekly. There will be lots of buyers...

EliteTrader101

I think VFS will form a sideways range around the 1hr 200ma, then stop hunt below to the Demand Zone in green. Smart money needs to accumulate positions with the range, then get rid of weak hands that keep slowing the up move with the stop hunt which also provides more liquidity for them. If there are no more sellers left after the stop hunt, they will start...

EliteTrader101

I think price will break below Friday's low and come right back in to form a W pattern, then it will chop sideways for two or three days to build up orders so it can break below the range on the left of the chart. They break below Friday's low to get weak handed sellers to short, then turns them into buyers when it breaks out of the range into the supply zone...

EliteTrader101

Smart Money used the range to trap retail traders to provide liquidity and to get rid of weak hands who slow the move. The fake breakout to the upside turned those buyers into sellers as it broke out of the range to the downside. Short sellers saw this and joined in, providing liquidity for smart money's massive buy orders below. Once they bought up all the...

EliteTrader101

From all the bad reviews about this car, I'm surprised that it went up this high, I don't think there are any buyers until the start of this move at around $20.

EliteTrader101

It looks like today's big move up in TSLA might be fake to provide liquidity for Smart Money if it reverses all the way back down tomorrow. Smart money needs to turn all these buyers into sellers so that they can load up on Longs at gap fill around 220. This ratio chart is telling me that SLV should outperform TSLA so TSLA has to fall while SLV has to rise. ...

EliteTrader101

Lower lows and flat support means lower prices as buyers grow tired of buying with no upside on their investment.

EliteTrader101

Some traders went short on this H&S break and will be forced to cover when the price goes higher. The trend on the daily is UP with trend line support and silver is setting up for a short squeeze because traders went short on the monthly break of a triangle and a W pattern formed and price action is going up with large up bars.

EliteTrader101

After several years of accumulation, the up move begins with a stop hunt out of the triangle to get everyone short and to stop out weak longs. Now that the weak longs are out of the picture, most of the long positions are in the hands of the strong players who are holding for the big move up. Shorts will be forced to cover once this bull flag completes by the...

EliteTrader101

This is the top because the final push provided liquidity for the large institutions above an obvious resistance level. They turned the sellers at resistance into buyers on that final leg up. I was selling at that level too, but got stopped out before that big push up. They quickly dropped prices back below that resistance level so those same sellers will...

EliteTrader101

Today should have been an easy day to go long at the Inventory level, but they whipsawed me out a few times so I gave up just before the big move to my target. The target that I marked up was from my MT4 Oil chart which looks different from this oil chart. The Mt4 oil target was hit, but this target was not so I recalculated where the target would be using this...

EliteTrader101

Today was a tricky day during inventory news. I was short going into the news with profit, and thought that the news would blast through the 50% fib level. Stop placement was too far away and took a big hit. Its a lot easier to be an analyst than be a trader during the live markets. As you can see, oil traders like using the magic number 3 at key levels. My...