All metals are green 1%-2% and Gold is not exception. Tension in East of Ukraine add fuel. It held support and broke up wedge on short term time frames. It reached down trend line - doesn't mean it is a sell, just DON'T be TRAPPED buying here. I want to see small pullback/consolidation before continuation to next resistance at $1315.5. Check my Idea on Gold in...
I mentioned some points where I make my adjustments. I mean how I manage my position with tiers. When it is trending or regaining power I add to my core position but when momentum is slowing down (price drops below short term moving averages) I lighten up. Check out my recent idea "cup and handle" to figure out my thoughts.
The S&P 500 just broke up consolidation that was theme of year 2014. Yeasterday, sectors that were recent laggards (high-beta, small-cap) showed relative strength. Overall you have to take stock specifique approach and be willing to buy dips in strong stocks if you want to be successful in this tape. This solar company attract my attention. It was wedging...
After stock bounced from resistance that is intact since May 2013 and broke down upper level support @ $76 with strong follow through to November lows. Now, it is flagging near lows in front of support. With weak Biotechnology sector and market sitting on resistance it could be start of another down leg. Enter short @ $63.80 Stop above 21 MA @ $66.83 Target...
ACAD was holding major support $20.06-21.33 since October 2013 and now it acts like resistance. Today ACAD triggered ENTRY short below consolidation support at $19.00ish area. TARGET is April's low at $15.58 STOPs above 21 moving average
Banks also continue to look very weak as Bank of America (BAC) broke lower out of a lower level consolidation. The stock gapped down on it's earnings. Now we have point of reference at $14.71, if it will go through previous low of the day I will be considering Short option. Resistance at $14.86 then $15.00, if price will pullback to that area I expect to see some...
This retailer broke down t-line that was intact since April 2013 with powerfull gap with pivot resistance at $70.51. It signaled about change of sentiment. THere was nice bounce play from that resistance on 4th of April and from there formed intermidiate downtrend form one side and higher lows from another (indecision, wedge). Overall market is sitting on...
On Daily chart it is is in uptrend since July 2013. After big, ignited, red candle on 20th of March it entered into range-bound market and bounced up well off major trend line. Till now it built series of lower high and higher lows (wedge) and gave opportunities to trade both sides (selling from wedge highs and buying support). On Friday when US job report was...
I've tried to put as much useful information as possible on the chart. Not only showing the trade, but also the story leading up to the trade. The shorting zone is our key factor here. This is were price reacts to and from. After breaking this zone, it acts as a very strong support. This in combination with the new longing trendline and the fact that price has...