i'll be watching $LL in the morning for a spike into the 16.50 resistance area. I will be entering my short position on the front side of the move using the 16.50 area as my risk. Will stick to stop because next resistance is in the mid 18 area.
PRICE ACTION TRADING. FIRST STEP Draw the channel. And check how the price moving. HL- Higher low HH-Higher high LL-Lower low LH-Lower high STEP TWO Draw the support and resistance lines. PRACTICE,PRACTICE,PRACTICE AND PRACTICE
Lumber futures appear to have topped against a massive monthly mode. You can go short with stops above the highs to be safe, target a retest of the uptrend mode from the lows. I overlaid EURUSD and USOIL so you can compare the price action. It's clear we're witneseeing a major dollar rally here. I wouldn't discard its significance. If you're not in any of my...
1.Daily MACD hidden divergence and zoomed to H4 MACD hidden divergence. 2. HH, HL formation. 3. RSI is Overbought. 4. 50% Fibonacci Retracement. 5. Strong daily resistance zone.
17 - DEC FIBs seem to be lining up with this trade. DMI and MACD showing buy signals. Hoping we can see a bit of a pullback towards the 0.618. If so, the target may be 21.71, though I will tighten stops prior. Original idea from @Reallifetrading
Fib, Cycle & Geometrical study This is a chart for the trader that finds pleasure in seeing harmonic and geometric adding up. Confluence zone in the 19.44 to 19.90 area. RSI has been visiting the lowest of low and need to break resistens. The stock will go through a bottoming process... in this area. For the long term investor the timing for a buy and hold is...
This chart setup has strong upside potential should LL not close below the 20 day moving average on the daily time frame chart.
This is a WEEKLY chart of Lumber Liquidators. Take a look back. Notice the stock was rising from about March of 2012 all the way to March of 2014. It has been falling ever since (see the red downtrend line). You don't have to know why it's falling by the way. You just have to realize that it has been falling for a year. If you think now is a good time to...
Housing SUCKS. This is the SLOW season coming up, to make it worse. New housing apps down to lowest level in forever, everything about housing SUCKS. GREAT SHORT HERE. Update 11/21: I was a little early on this short! I was happy to buy a few cheap $33.5 weekly puts for next week. I typically don't like to buy options at the end of the week to carry into the...