SheepTrades

SheepTrades

Google appears to be setting up an "Island Gap Reversal Pattern" 🏝️ Characteristics of an Island Gap: 1. A lengthy trend leading into the pattern. ✅ 2. An initial price gap. ✅ 3. A cluster of price periods that tend to trade within a definable range. ✅ 4. A pattern of increased volume near the gaps and during the island. ✅ 5. A final gap which establishes the...

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Nasdaq remains in its channel despite the massive short squeeze week. Approaching key levels, worth taking a shot to: 1: Remain in the channel (short) 2: Break above the channel (long) Direction based on personal bias. GL

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NVIDIA is still inside a diamond pattern. Diamonds can be tops or consolidation, but my bias here remains short.

SheepTrades Updated 

NVIDIA NASDAQ:NVDA appears to be topping out after a massive 362% rally. Pattern has been forming from July 2nd and it's still working itself out as of October 14th. Watching for a breakout in either direction but favoring the short side personally.

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Apple is still having a hard time gaining traction. It is now approaching its 3rd attempt to recover the 50 day moving average. Typically, 3-4 failed attempts and this becomes a massive short opportunity.

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Here's a wild prediction for the rest of the week trading after NASDAQ:NVDA earnings and Powell at Jackson Hole Friday. SP:SPX AMEX:SPY

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SP:SPX AMEX:SPY triggered the momentum algo and we have now entered momo. We may be lucky and see a pullback on JH Friday which everyone and I expect.. or maybe we don't get so lucky. Stops to invalidate momo would be ideally set 4390 on SPX. If not already in, ideally you want to see a pullback for better risk/reward entries with stops flexible in 4390~ish...

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This is how I see Disney playing out in the near term and into year-end. 1. Currently we got decent quarterly earnings and the stock popped 5% 2. It is peaking above a small descending wedge but I personally would expect some consolidation first in the $88-$92 range before some "news" propels this higher into year end.

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Apple has had one of the biggest rallies YTD at over 50%. Ascending Wedge forming and now watching for a potential break to the downside. Should be good for a 5% - 6% pullback on a potential downside break.

SheepTrades Updated 

Now that we have broken to the upside the plan is to ride the trend channel up until it breaks then re-assess as we could consolidate or sell. either or.

SheepTrades Updated 

ChargePoint beaten down and forming a descending wedge right before earnings. EV Charging stations have been left out of the recent rally behaving more like the Dow Jones. Debt ceiling news, earnings coming up, something has to give for NYSE:CHPT and sympathy NASDAQ:BLNK

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Massive Descending Wedge in development since September 2022. First time I come across an 8 month pattern of this sort. Appears to be breaking out from the wedge here. Beaten down as many things have for well over 1.5 years now. Still searching for a CEO, however when they do fill the position it will be a boost to the stock price. Targeting $5 on a "textbook"...

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SPX (Swing) - SPX is still consolidating and remains bullish. Another buy signal fired up today. The first buy signal has also not been invalidated from the recent market pullback even though markets dropped on bank fears - Momentum remains to the upside until a valid sell signal gets triggered.

SheepTrades Updated 

SPX should be on the verge of a bullish breakout. Theres a lot of things going on right now in Macro, Technicals and Fundamentals. 1. Risk management: Make sure if you take on this idea you have stops in case of failure. Nothing is 100% 2. Massive Inverse Head & Shoulders: Could be a powerful move here on a break over 4200 3. FED is close to done hiking. One &...

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Trendline has been broken. - We can now see one of two scenarios: Consolidation or Sell. - A sell could simply be as shallow as a normal correction 5% - 10% or a deeper selloff. - A deep selloff however would need the VIX to rally higher, over 20 but def over 16 minimum.

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TSLA is in a bear market selloff and it looks like the flag/pennant measuring formula is complete. Volume has shot up over 200m for about a week. Big $ is covering and I suspect they should have finished covering on todays -13% selloff to start 2023. Short term bounce on another consolidation of this massive down move is likely. -50% since December 1st.

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Subjective to weather it’s a diamond or triangle but breakout here is clear and the move has already happened. Looking for a reversal bounceback. Short term

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There’s a few possibilities for GOOG here: 1. Forming a consolidating Pennant/Flag or 2. Forming a Double bottom