Retesting range lows as oil get's hammered...worth a watch down here as this has been a strong name over the last few years.
If volumes are light and algos in control due to lack of players in markets due to holidays expect chop while basing in lower ranges...Some W forms on the up trend line then we should go higher...if trend line fails..BEWARE>..1180's in play for a retest...
Be aware of the options markets..will likely hold gld under 115 and gold under 1215 range....good luck..nice scalp..nice profit.... 113.50's to 114.8 and 115 solid 24 hours of work.. GLD at 115 is the 100d as well..likely acts as resistance Buys from mid 113's on turn around tuesday worked perfectly.....chop chop
Pretty simple stuff...hold channel up or retest range lows of 1180's..if holds..higher prices to come
Gap filled and and worth a watch for a long here...not a bad idea with tight stops...
Been watching this sub 1200 level for stops knocking and potential look below and fail of ranges here to get back into the 1215-1238 range..if we cant hold 1200's expect the 1180's floor before the end of the year...cheers.
Another area of important now that we have gone below 1210. Could it be a bear trap?? It’s possible. Worth a scalp with a stop. If a trap 1230’s should come at some point. Risk vs reward worth it. Small loss with potential for large gains. Be safe
Holding some important areas near and below 60. Aramco Ipo next year..doubt they are ok with 50-60 $ oil for such..imagine they want 80-100$ oil. Easy buy with stops...Look at XLE/XOP service names as well for potential pops like VNOM, CRZO WLL HFC CXO CLR PXD EOG
Gold wide and loose after basing...look up and fail....possible look below and fail...worth watching. Trading probabilities and nothing certain or easy when bottoming or topping..check spring highs and old post for reference to such and trying to predict it in march/april. Cheers.
Bigger channel in tact...down trend from spring broken going up. Could see a retest of the 61.8 retrace and old down trend/channel lows if needed. Next week is options expiration and could be choppy. Keep it simple..long term With the fast drop be aware options Implied Volatility is high...Selling out of the money puts could be a good play here out into...
Play the ranges. Been very obvious where hints might bounce or fail from. Until this zone break. 1210-1240. Assume it stays in such. Be safe
The last 3 high volume traps all lead to chop or pop to follow. We're going to find out real soon if that was accumulation or distribution.
Retest of the 19 area on light volume, fills gap to the left....and...of course it pops...this stuff isn't that hard
Trap at trend lines and lows...classic MM trap..liquidity squeezed, weak bulls puke, and price turns right around as bears come in for the supposed kill...classic
Bottom of range..post earnings game? Seen this and talked about such before. Worth an eye at 14 area with tight stops...
Showing signs of stopping volume and action short term. Will post daily with it...use the lows of range as potential buy zone with a stop..
Needs to hold gld 116.20's...or we could fill some gaps and test low end of range. Ripped up on volume..consolidating on light...potential is to trap bears for fuel of higher highs into green zone to come. Be safe in front of election and fomc on thursday.
Each time volatility bottoms..it's starts it's games to rise before a bear market...patterns repeating...be aware of long term issues with stocks potentially...def consider deleveraging stocks for long run....bear markets last 12-18 months...just started in Oct of this year imho..we'll see...