EliteTrader101

EliteTrader101

This weekly chart shows a clear rejection of the point of control (POC) at the top so now its going to drop to take out the stops below. Once it breaks, see if price holds below for a continuation lower. A lot of people will see this as a head and shoulder too. The US dollar is still in an up trend and last week was a clear rejection of the lows so this adds to...

EliteTrader101

A lot of weak hands selling at the top and it wouldn't take much to cascade all their stops to new highs. Got to trade with the trend until the end. The end of this up move is when all these early bears become buyers at the top and price quickly reverses back down.

EliteTrader101

Volatility is getting tighter and tighter and should breakout big on earnings just in time to Sell in May as the strong hands sell to the weak hands at the top

EliteTrader101

Lots of Buy stops are building up above as volatility and price action are getting tighter, so I am expecting a big move UP going into May. This would make sense for the "sell in May and go away" as we need a big move up in order for the strong hands to sell to the weak hands who buy at the top. Look what happened last Sept when price broke out and the strong...

EliteTrader101

When price broke below and came back up, the decision was made by the institutions to go long on a pullback to the morning star pattern. Stop is below today's low and target for tomorrow is $197.46. I'm waiting for $200 to short this.

EliteTrader101

A huge move is coming over the next 3 weeks as both floor traders and large institutions are now trading in the same direction. Target is $90-$85

EliteTrader101

Tsla is clearly weaker than the Spy and is ready to break down of this range. Lots of liquidity built up below so we should see a huge move down soon

EliteTrader101

Look at the massive amount of selling pressure compared to the buying. The trend lines are getting steeper which means price is accelerating downwards and will breakout and trigger a cascade of selling as each level of stops are hit. Today's rejection of fair value means a drop to bottom edge or lower. The huge amount of buyers will become sellers soon as they...

EliteTrader101

Tsla formed a head and shoulder on the weekly charts and is also in a downtrend channel. Lots of stops are building up below $180 and there's no support until $150 where all the buyers are waiting. Tsla needs a big shakeout to flush out all the weak longs who bought at higher prices. Once all the weak holders are squeezed out, the stock will be in the hands of...

EliteTrader101

Today's price action worked out perfectly as i have expected, except for the fact that it took all day to get my level. Sell any pullback below the red level, stop above $221, final target is $150 area. Tsla has been weaker than the market for several months and most large funds see fair value for buyers at $150. Options were cheap all day until the last hour...

EliteTrader101

Its been frustrating trying to go long TVIX, but we are finally seeing the increasing volume needed to sustain this breakout. There are a lot of buy stop orders building and once triggered, there will be a big rush to buy to cover and buy to go long. Target is between $4-5, depending on where the SPY will be.

EliteTrader101

It looks like the rally in bonds is finally done because it had 3 legs up and is forming a potential M pattern. The obvious target is back down into liquidity at the 200 sma. What this means for the market is that it should have a strong rally to finish off January in a positive note and a positive tone for the rest of the year. This final move in bonds...

EliteTrader101

Strong evidence of accumulation at this balance area as buy limit orders are pressing higher and volume is totally drying up. First target is to 8, then to somewhere above 10.50 at liquidity. Placing stop below 3.85. This stock had good earnings so we have fundamentals backing up this buying campaign. If price can hold above 10.50, then its going higher. ...

EliteTrader101

It is clear that value is building to the upside on this weekly chart. it is also a cup and handle too. Target is back up to $10 level.

EliteTrader101

Price dropped below the line in the sand level, plus Positive forecast on Tuesday for US dollar. The large players are already positioned short from the liquidity grab at $440 and have been pressing prices lower since. Target is to liquidity around $280 and lower

EliteTrader101

The institutions got the liquidity they were looking for and closed back into value, so expect a big move up into new highs. Volume is high on this reversal, the shorts are trapped and will be squeezed at the top. Buy any pullback tomorrow with a stop below the 68 level, target is 82 and beyond depending on how price reacts on the breakout. This is the season...

EliteTrader101

the market looks like its setting up for a head and shoulder long after this drop, so i'm going to stay short until my target is reached, then look for a long to retest the highs during the santa clause rally during the last week of the month.

EliteTrader101

It looks like the large institutions got the liquidity they were looking for as they rejected the break and reversed back into value. Prices quickly gaped up as other traders saw the rejection and were willing to pay up as they know that prices are going to head higher. The target is the breakout into fair value and if prices hold this level, prices are going...