this one is kinda iffy so trying to play it both ways for sure. upside first but once it rejects and we break down its gonna drop like a rock
looking to take this long but am open to it going either way. solid plan in place, lets see how this goes
We are nearing a meaningful trigger on the daily at cost basis above. This is in confluence with our downtrend channel. Tomorrow We will utilize the PBS to take QQQ to 375.50 if our levels above are reclaimed. If we stop and chop the rest of the day BUT HOLD the daily floor as reference, then next week will be above CB and we are looking for the 380s. Otherwise,...
So most of my trading is done on my own stream during the day, where price opening tells me MOST of what I need to know about the stock going forward and we have straight forward rules for that. Currently we are still trying to break a WEEKLY downtrend, and battling to resume a lower time frame uptrend. Have a great trading week!
Decent close above a lower time frame sell wall 251.50 but hoping to avoid a gap up to resistance. In order to move higher we want to DISPLACE SELLERS. In order to do that, we need to gap up above their average (sell wall) This will mean the first move is down. Wave wise we don't want to see 3 rejections. I believe that the projected and now real channel you...
True to the title, we experienced some serious range and PAIN. We are now in premarket trying to open BELOW support meaning we have to find one under us. I am not bearish until we break into that structure below.
Another great move from NASDAQ:TSLA but where we open matters. expect some chop before the move
So, as you can see on the chart 240 has provided strong reversals to the upside and of course is a large cost basis on the daily (see PBS video) So a gap down under this mark and hungry bears will eat that gap below. If we Bounce, then we have a gap above and I think this very dynamic will create range. A gap down would change that as we only have opinions above...
Tomorrow's gap will tell us exactly where we will be heading for the week. We are currently in a potential range between two large earnings gaps. Giving me the feeling, we will stay in a wide range. I use my own strategy Call the Potterbox Strat. Of course, there are lots of way to place consolidation, but I have learned the market is mechanical through years...