Today a member on my social media called out a major stock NYSE:PPG at a Weekly 50% Retracement Level. MANY stocks right now are pulling back to the 50% Retracement from the COVID low to the recent ATH. I suggest everyone out there do their homework this quarter of 2022 to FIND OPPORTUNITY!
Waste Management NYSE:WM is one of my favorite stocks because I was once asked, when I said I was a professional technical trader, "if the price of garbage was going up, you would buy it?" To which I replied, "yes, I own Waste Management" This morning I received a volatility spike alert which is happening at a major 50% Retracement. Added to my position that...
Litecoin COINBASE:LTCUSD pegged the 108.82 support level which it has consolidated above for a few days. This snap back off the level shows confirmation that it is a support but also sets up a clear breakdown entry level. With crypto having a bearish few days and the Bitcoin short being live the sentiment is bearish. Breaking this level would trigger a short...
Today at the open MANY stocks in the S&P 500 did early trading spikes before recovering their trading range. NYSE:RCL happened to do this at a 50% Retracement Level Support.
Despite the down day with all the FUD... NASDAQ:CMCSA is still holding the major Support at its 50% Retracement Level which matches with a past All Time High following the earnings dip.
Facebook NASDAQ:FB going lower was something many people did not expect on February 3rd, 2022 after the huge drop on earnings. I am afraid that many investors and traders did not pay heed to the words of one of my favorite investors Peter Lynch that "a stock can always go lower." Now price is grinding down those expecting a quick bounce. Let's look at this...
For now, it looks like Russia/Ukraine risk-off sentiment remains palpable. Risk-off means positive action in the safe havens. For the USD/CHF, the Weekly 50% Retracement at 0.9217 is coming into play. Here's the trade: 1) A buy from 0.9221 2) A 1:1 risk vs. reward worth 25/25 pips 3) If you take this trade, beware of the FOMC Minutes release at 2:00 PM EST!!!
Garmin NYSE:GRMN had earnings today and the price action on the swing timeframes broke the past weeks' lows to recover back inside the range. This setup is happening right on the 50% Retracement of the COVID low to All Time High along with an Ichimoku Cloud Pullback on the Weekly timeframe. Options spreads are wide so this trade will be best expressed with shares.
I feel the need to express how today's price action is most significant. The FUB over Russia/Ukraine apparently abated overnight (if it was even a real threat to begin with) and that sparked a rally in equities. However, it only bring the market to a key Resistance level. Meanwhile the VIX, which times the market, is also at an inverse support. What happens...
Ethereum/Bitcoin BITFINEX:ETHBTC setup a nice trade a few days ago. The price action of the trend is a really interesting example of the fractal waves that price tends to make. Once traders can identify and chart these patterns they can find some very profitable trade entries! Many traders ask me "what is the BEST timeframe to trade?" or make the observation...
Like many stocks over the last 2 weeks NYSE:STZ has pulled back to a key 50% Retracement Level. This level is also backed up by an Ichimoku cloud pattern. Now within this week's short term pullback to the rally there is an opportunity to play STZ back to the high. I expressed the trade with April 2022 250 Calls. The goal is to hold right up til earnings for...
The stock market has Retraced from the dip to the key level of 4500 I have been watching since the bottom last week. This makes today and possibly more days this week critical for where the market goes the rest of 2023. I am not in the habit of telling people how to manage their trades or investments but what I will say is that people need to wake up and pay...
This is one of the most interesting case studies of 50% Retracements together at once that I can remember that Bitcoin is demonstrating over the last week. The first Retracement Level was a rally off the recent low up to the time of the FOMC Meeting. The second was the Crash as JPow was speaking. The Current rally stopped at the 50% Retracement of the JPow...
I like this level on NASDAQ:CSX for a long to retest the Major Highs. It is the 50% Retracement since the September low and the bottom of the Daily Ichimoku cloud. it is post earnings and IV has returned to average I am using the May24 37.5 Calls to express the trade.
No. In my post yesterday I noted the Spike Alert at the bottom which was both a tradable signal and gave Bulls optimism. With a positive up day the +2% gain in BITFINEX:BTCUSD has still not touched the first of 3 key milestones that would invalidate the persisting bearish trend. The two key Retracement Levels from swing trend to retest the low, 43840 and...
After going through a pullback Tesla NASDAQ:TSLA pegged and held the 50% Retracement level at 900. I've been watching this for a while and got into the stock last week (a bit early) but today's price action in Tesla stock and other growth stocks is looking like a potential short squeeze into End of Year.
A few minutes ago there was a Spike Manipulation that triggered stops above the last Rally High on BITFINEX:ETHUSD . This sets up a very low risk trade to short the rally back down to the 50% Retracement. 5 Minute trading timeframe:
Today's divergence between Ethereum BITFINEX:ETHUSDLONGS and Bitcoin BITFINEX:BTCUSD can be visualized in the price action of the cross pair BITFINEX:ETHBTC . Yesterday's price action took it to the 50% Retracement of the most recent bullish trend and Market Manipulation Spike signaled a rally off the level.