SPY Came back up to the point that has served as resistance for the past 19 trading days, and my trading strategy dictates that I should enter short here and play for the reversal, with a tight stop loss just above the trend line resistance. I followed my plan, but if I'm being honest, it was hard to do so. This looked and felt like a breakout day, and the RSI...
LK Is currently sitting very near its lifetime uptrend support trend line, which means it's finally in range for a proper Risk/Reward Ratio for me to trade. This is my trading style, find stocks near support or resistance lines and making bets on the reversal. This method allows me to place very tight stop losses just outside of the patterns, so if it breaks...
AAPL Looks to be very possibly fitting well within the given ranges of a Bearish Butterfly harmonic pattern. See attached image for fib levels. The "B" point is very slightly above the required .786 level, with within range to legally call this butterfly pattern in my opinion. While I am not currently trading this, just an interesting contrarian view in the face...
NFLX In previous post (linked) noted what I thought looked like a profitable opportunity to short NFLX through put options, which I did at NFLX 299.80. I sold one of the two Sept 06 P282.5 contracts bought for a 100% gain on Friday, and am still holding the other. Now my eyes are trained on the trend line shown on the chart for tomorrow. If 286.50 breaks, then I...
CRWD Pretty self-explanatory idea on chart. Levels where I think CRWD can go, eventually ending around 130 area. In my opinion likely to see low 70's and possible gap fill before moving on up, in an effort to complete corrective wave. Obviously tons of things can happen to negate this, horrible or outstanding earnings being just one of them. I do like the stock,...
BA Weekly candle printed a hanging man at current channel resistance. This allows for short entry right now with an extremely tight stop loss of 369.5, only 1.5% loss. Minimum profit target would be 320 area around the 125 moving average, so just over 12% gain minimum. That computes to around 8:1 in favor of reward in this scenario. I like options in this case...
POLONIEX:LTCBTC Is sitting right at an upward sloped support line from previous lows. In addition to this, price action has formed a loose form of a harmonic pattern . Not quite a butterfly because the "B" point did not retrace to the .786, only near the .618 fib. Besides that point, it fits within a bullish butterfly pattern with the theoretical entry point...
AZO Has the appearance of having completed its leg up, and still has room to move downward toward 888 area in my opinion. Below are multiple timeframe looks at possibilities of this look like. Weekly chart would appear to be presenting AZO in a possible first wave in a longer term view. On the daily, printed a big fat huge bearish engulfing candle last Friday....
COINBASE:BTCUSD Is having it's first touch of its 125 moving average as support since breaking back above it with a vengeance. It has been holding thus far, and a breakout of technical indicators is now presenting as well. RSI downtrend resistance is breaking through now, and Stochastic RSI has crossed over while price action appears to be turning back north...
Trading some cryptocurrency pairs over the long holiday weekend to get my fix, what can I say... Anyway, I like this pair right now, trading on Poloniex. It's receiving around the 5th most volume in the BTC trading pairs, and looks technically interesting atm. Weekly chart posted below to get a look at that overhead downtrend resistance line, because price is at a...
AAPL Today completed formation of a Dark Cloud Cover candlestick pattern. See attached diagrams for explanations. According to some research, this pattern results in a down day the next day 60% of the time, while up the next day only 40% of the time. Obviously there is no sure bet in this game, but I'll take 60/40 odds over 50/50 every day of my life. In any...
NASDAQ:NFLX Printed a similar shooting star type candle today that it has a few other times in this current downtrend channel. Bought Sept 6th P282 option today for 1.13 at NFLX 299.80. Looking for it to react similarly as it has before on a resistance touch/rejection, and hope to see around 278 sometime before or on Sept 6th. Happy hunting and GLTA!!
CMG has had a helluva run, but I am of the opinion that it is reaching the top of it's 3rd Wave up, sitting right at the 1.618 fib extension of Wave 1. Also very near current channel resistance trend line, which adds to the short idea. Personally I look for the pullback to drag CMG back down to the low 600's, around 615-620 area most likely. Crazy as it may sound...
GRUB Is sitting right on support for the channel it has been surfing. This has a ratio of about 37:1 in favor of risk to reward due to this. Stop loss can be set just below support line at 55.50, which only allows for a 1.65% loss before cutting out. However, if it does catch on this trend line support, it allows for the possibility of the entire run back up to...
SHOP Has just been on a tear, my goodness. I had this move marked out when it was flagging, had my buy marked at 125. Got distracted elsewhere, missed the buy, and now have just been absolutely kicking myself over this. What a run. My best estimate for a target sits around 428. May buy a put option at that point if it does in fact reach it, but I obviously don't...
MDB Linked Ideas. Just strength and growth, plain and simple. Like I said, 200 or bust. Happy hunting and GLTA!!
GOOGL Over the last two days printed a 2 candle pattern known as the "Bearish Counter Attack". See the linked attachment for diagram. It occurs when there is an up day, followed by a gap up open that is sold off, finally closing at the same price (or very very close) as the previous up day. As seen in image, according to this research this is a rare pattern that...
BA I believe is gonna have a hard time moving up through multiple resistance areas. As seen in previous post (linked) BA printed a bearish reversal sign candle in the Gravestone Doji. In trading this candle, the sell signal is the price closing below the LOD for the doji, which occurred today. Backing out a bit, you can see the loss of an uptrend support line,...