I've been waiting to post for something to actually happen and it has. Bitcoin has finally consolidated its way down to the major Daily Support of 611 but I am *NOT* a buyer here. This level, while strong on the Daily, is not backed up by anything on the higher timeframes and all the lower timeframe are trending decidedly bearish. It's still a falling knife at...
UPS and FDX both have been going bullish for a good while and setting off multiple timeframe bullish signals. Today though the lower timeframes are breaking down triggering reversals. This could be some profit taking down to swing trading support levels. The 30m breakout setup on UPS and I took it around the opening when my alert triggered. I went in with...
UNP hit a resistance off the Weekly + Monthly levels today with earnings coming up in exactly one week. Volatility is above average which makes buying vertical spreads attractive. I'm taking the August 90/87.5 Put spreads which were selling for 0.32. Max profit on these is 2.50 which would happen in a massive move. Getting them cheap will let me go profitable...
USDNOK looks to be breakout out short on the swing timeframes for a play back down to the bottom of the consolidation. I entered at 8.3722 following a breakout of price and momentum to the 2 hour Ichimoku cloud. My risk will be trailed above the Ichimoku Kijun Sen until I reach my target at the bottom of the Daily range where I will tighten up my stop.
Today we are fighting the dividing line between the potential top and the boundary to go even higher for the US Stock Market index. Taking the Brexit move as the key launch point the 127% Fibonacci extension is at 2156.75 on the September /ES futures. The close above or below this level this week is KEY . So why not put a good reward/risk bet on the close? ...
The afternoons of trading are times for logging, reflection, and learning. Earlier in the morning my scanner picked up a 10 minute timeframe breakout on the GBPAUD currency pair. The breakout itself fit my rules for a trade and I took it from 1.7389 down to 1.7288 for a morning 100 pip day trade. I wanted to get a higher level understanding of why this trade...
Timing is coming to fruition this week. We are back at the Daily Resistance level of 672. Holding here I'll play it down first to the Daily support of 611. Taking a short off this level going into the statistically bearish day of Wednesday is the play. The break or hold of 672 is going to be key. Should it break the resistance the "clockwork" Friday bullish...
USB hit a Weekly + Daily resistance today at 40.85 where I took September 40 Puts. Implied Volatility was cheap so I went with Singles. Also later this morning there was unusual Put volume that came across the scanner but I had already taken the trade near the open. Market Sentiment I find myself net short Financials going into this earnings season. That is...
I'm playing BEAV short into earnings. Price reached a Weekly + Daily resistance at 46.37 today where I bought October 45 Single Puts. With the market going up IV is cheap across the board to go for the Singles rather than vertical spreads. Seasonality has BEAV going down in August and for the year thus far it has been following seasonal predictions by having...
Going into Earnings on the 19th CMA touched a Weekly & Daily resistance level. I bought October Puts in the office but was called away on a home emergency (kitten in an AC duct, no joke) so just blogging at end of day.
Following the failure to break 700 and price getting back below the Daily Resistance of 672 price has continued to consolidate as predicted. Timing on price action plus daily statistics are pointing to an event on Wednesday or Thursday of this week. My bet would be on bearish due to Wednesday's statistics if we hold the Daily resistances until then. The next...
Taking a pre-earnings hedged debit spread play on AET Long and ANTM short. I am looking to get one of the two Option spreads to max profit of 5.00 through Q2 earnings.
I was looking to go long on a break of resistance expecting it to begin before the weekend. No long setup materialized Wednesday. Instead of progressing upward prior to the -chart- timing elements and the perceived -fundamental- timing element of The Halvening this bar I woke up to this morning changes the forecast. It look as if we are in for more...
BP has been slowly moving up with the price of oil since April. This has not yet destroyed the long term bearish momentum on the Monthly timeframe where the downward trend is still intact. Price has now gotten to the top of the Weekly cloud to contain the overall long term bearish trend. At this point it's a "line in the sand" to determine long term sentiment...
Yesterday I took a day trade off a day trading cloud breakout strategy on JNPR. When price closed below the cloud and setup a pivot I set an alert for a break of that pivot low to trigger a breakout short strategy. Since jumping into options when price is moving is a recipe for getting terrible fills I have to wait for a pullback. The pullback comes when price...
Taking a pre-earnings play on NWL at matching support on the Weekly, Daily, and Swing trading levels. The September 49 Calls are at average Implied Volatility so I'm taking singles. The top of the consolidation range and a break thereof will get the Calls ITM. Current Market Outlook I follow the theory of Sector rotation in terms of what the movement of money...
BTCUSD has broken the Daily resistance value of 672 I've been eyeing since the bottom nearly two weeks ago. We had a period of choppy consolidation as was suggested by the daily chart being shocked by the volatility. I expect the retest of the high to go through July. Most probably the move to get through the High Retest zone will be on July 8th, a Friday. Why...
FLIR has reached a multi-timeframe resistance level at 30.34. Taking options with a timeframe through earnings with OCT16 29 Puts looking for the stock to follow the seasonal bearish movement in August to get the options below the pivot low and ITM.