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PPL Finally Breaking outI've been waiting for PPL to set up breakout of a few months now, and its finally here, unfortunately it formed a gap to $27.30, so it will go back down to fill that gap, but after the gap is filled the target will be: $31.02, and if it breaks from there we are going back to $36.20. Also me and one of my buddies decided to make our own Trading Community, it is free but right now it's only about 5 people large. Message me if you'd like to help liven the place up a bit. Also I just built a Computer and will be able to do more things... Yay
NYSE:PPLLong
by GoEasyScoobs
Trade Log NIFTY August 13From August 11,12 I had the same view NIFTY likely to have a pending upside for the climax to 11380. And then possible formation of an intermediate top which has to be confirmed by moving down below at least the recent low of 10880. Overall, NIFTY is slow moving and the climax move has not happened yet. There is sideways movement in the tight range of 11240-11360. My trades today I sold the next expiry call on the break of the opening range low. I covered that near the end of the day. My observations for the day NIFTY closed flat again with less than a percent down. BANK NIFTY closed -0.30 % down. VIX down -1.33% Advance Decline ratio is 26 to 23 Tight consolidation range between 11240-11360. NIFTY has given 3 daily closing in the 20 point range. My view for tomorrow I have a bearish view for tomorrow. I consider the 1 hr candle (11.00 AM) which failed the opening gap and for the day, there was no attempt to recover above 11320. This view is invalid when NIFTY stays above 11360.
NSE:NIFTY
by Observe_Think_Act_Think
Observation of Moving Average Order in the SPX on 2HR (Updated)Updated & More Accurate- Interesting alignment between my selection of EMAs, SMAs, and Fib MAs. 2 HR chart. Market could keep going higher as long as this curve upwardly steepens. Resolution --> 3 weeks in during September of 2018, and three weeks in during Feb 2020 are the last two times this distinct sequence occurred. Still getting used to TV; not sure if the chart is clear on the screens of others. 3 weeks in during August 2020, what happens next?
SP:SPX
by apb270
Trade Log NIFTY August 10Review of my weekly opinion Possibility 1 : On Monday, observe the price action in the first hour. Any gap up or break of 10250, will confirm bullish inclination and further upside possible in the 11380-11440 zone. Eventually, when and if Reliance has reached around 2300 levels and NIFTY in this zone, then I’ll enter positional short- reversal trade with SL of 100 points. This possibility played out, only partially. Because closing was not very strong. ======================================================================= My trades today There was a break in the opening range. But it was very weak (2 indecision candles barely above the level) This actually made me look for reversal trade which came soon with breakout failure. I squared it off near the end of the day. Some routine notes NIFTY closed at 11270, nearly same where it opened for the day. BANK NIFTY consolidated and finally settled 0.67% higher. VIX lost 0.30% Advance Decline 32 to 18. Reliance Industries declined 1.16% Open interest data is showing 11200 is being pushed as strong support. Today’s price Action means Today NIFTY sustained a gap up and had failed breaks on both sides of the range. This shows buyers and sellers are in equilibrium. My view for tomorrow I expect a positive day tomorrow with the possibility of a new high. My plan for tomorrow The best opening I expect is flat to mild negative, which should work in favour of bulls where the strength is built for newer high and possible breakout. Gap up attempt above 11330, may not be easily tradable. Weekly view post
NSE:NIFTY
by Observe_Think_Act_Think
1
Starbucks (SBUX) - Hangs Around 21 EMAAs you all know, I regularly post pullback trade ideas as stocks pullback to their 21 day EMA. Today, I am looking at Starbucks NASDAQ:SBUX . What's different about this pullback is that Starbucks usually doesnt hang out at the 21 for more than a day or two. However, its been 4 days... so I wonder if the powers that be are on to us! ... just kidding. But in all seriousness, I like this chart. I think that it really shows that support at the 21 EMA is being tested hard and should SBUX close the day out above the 21 EMA or even the 8 EMA on the daily chart (putting it in the Green), then I think next week we could see SBUX go even higher.
NASDAQ:SBUXLong
by UnknownUnicorn6775423
Trade Log NIFTY August 4In my August 3 post, I had said Today is the fourth day for the down move. When I see the reliance chart and NIFTY chart I think touch of support zone 10780-10830 is possible in tomorrow’s session. This zone is where there is a possibility of some sort of bounce. This is the first bounce after correction, so likely to fail. It is better to wait and let the pattern form before in long side trade. I was wrong here. I anticipated 50 more points before the bounce. But NIFTY bounced hard from the 10900 zone. ========================================================================================================================================================== My trades today I bought CALL when NIFTY sustained an initial high. And sold at resistance. I exited early as it was the reverse of the trend. My observations for the day NIFTY reversed the trend on the hourly chart by closing above 11080. It gained 1.87% BANK NIFTY supported 1.99% VIX dropped 5.44% Advance Decline is 32 to 18. Reliance Industries gained 7%+. This alone contributed 117 points Open Interest buildup at 11000 Put option is strong. Indicating conviction amongst the buyers. My view for tomorrow. Considering the momentum NIFTY had on 4 days of downtrend, I treat this bounce as the first bounce, which is likely to fail. But considering the chart of Reliance and BANK NIFTY, I feel there is some more upside up to 100-150 points. For tomorrow, I expect sideways market mostly with touch of 11050 - 11000 area, which should find some buying before NIFTY moves into the second leg of rally towards 11150+
NSE:NIFTY
by Observe_Think_Act_Think
Trade Log NIFTY August 3I my weekly review post (Link below), I commented, I take consolidation with a negative bias view. The pattern target is 10860. I sense that this week, NIFTY is likely to hit that zone. I need to see if this happens with momentum. There should not be any closing above 11130, If there is any closing above this level, short bias is challenged. If NIFTY crosses above, 11195-11200, actually bias is on the long side. Summary : Bearish consolidation view with target 10860-10900, reversal in view at 11200. ***If there is a gap down below 11000, that will confirm that this time correction may not be shallow. And any close below 10800, means the possibility of more downside.*** There was a gap down opening, so this correction may not be as shallow as others from May 18. From levels and target of pattern perspective, I think NIFTY got there in a day. =============================================================================================================================================== My trades today I sold 11000 CALL anticipating bearish day, I squared it off for the profit near the end of the day. My observations for the day. NIFTY closed the day with the loss of 1.64% BANK NIFTY closed 2.62% lower. VIX gained 4.10%, back above 25. This is not a good sign. Advance Decline ratio for NIFTY is 13 to 37, not as bad as the fall. Reliance Industries caused nearly 44 points on downside. Open Interest showing 11000 -11200 zone is agreeable resistance zone. My view for tomorrow Today is the fourth day for the down move. When I see the reliance chart and NIFTY chart I think touch of support zone 10780-10830 is possible in tomorrow’s session. This zone is where there is a possibility of some sort of bounce. This is the first bounce after correction, so likely to fail. It is better to wait and let the pattern form before in long side trade. My weekly view
NSE:NIFTYShort
by Observe_Think_Act_Think
2
Trade Log NIFTY July 31In my yesterday’s post I had said Tomorrow, I assume a downward bias with the possibility of 11040 and 11000. I’ll see the price action around this area to decide the next steps. If this is really some sort of intermediate top, there should be a gap down and the gap will be sustained for the day. NIFTY touched 11040. The price action around this level is indecisive. There was a bounce, but it was not a sharp bounce. So I need to look at Monday’s price action. If this is a usual correction in a large up move, it is less likely that there is any gap down etc. If there is a gap down with a break below 11000 with force, then I’ll start thinking about the intermediate down trend. ========================================================================================================================================================================= My trades today. Range bound day and filled the gap. I sold 11100 CALL in the morning and later covered it exactly at gap fill support. Since there was tight range consolidation during the initial day, I was careful about reversal around 11040. My observations for the day NIFTY continued its downwards grind, closed 0.26% down. BANK NIFTY closed 0.03% VIX fell 2.16%. Market players sense no uncertainty at this level. Advances to Decline ratio is 34 to 15. Reliance fell around 2%. It dragged the market by 31 points. Option data showing bearish tilt with resistance building around 11200 I’ll do detailed post about my next week’s view over the weekend. Have a great weekend! Link to my yesterday;s post
NSE:NIFTYShort
by Observe_Think_Act_Think
Trade Log NIFTY July 29In my post (link below) I expressed my view Typically, such range breakouts have caused 2-3 days of rally in NIFTY in the last 2-3 months. This time we can expect something different. If it is the last leg of the up move, then NIFTY can see a sudden surge in the next 2-3 days into July 30 Expiry. If it is more like an ordinary day, there may be some consolidation confirming the breakout. ======================================================================= Indeed, NIFTY behaved differently. Breakout of the range has failed now. My trades today. When an attempt failed to test morning high, I sold 11250 CALL. I was sure that NIFTY is likely to test 11235 where I had set the target and SL was at the high of the day. NIFTY actually moved much below what I anticipated. I ended up taking out profits at the target. My observations NIFTY closed at 11202 , -0.86% down. BANK NIFTY closed -0.13% down VIX gained 1.99% Advance decline ratio is at 22 to 28 FII and DII data on negative side My view for tomorrow The breakout has failed. I think NIFTY is likely to test other extremes -- retest of 11000 and 10900 initially. This may not happen tomorrow as tomorrow is an expiry day. There may be another attempt towards 11270 which needs to be watched carefully. Tomorrow I am more biased towards consolidation day. July 28 Post
NSE:NIFTY
by Observe_Think_Act_Think
4
Trade Log NIFTY July 28 In my post (Link below), I had said NIFTY is in the tight range of 11105 - 11220. It is really difficult to imagine the structure within this range, but considering today’s price action, I think NIFTY may break down tomorrow just a little. But there are multiple support zones from 11000-11050 where support is expected. Review: NIFTY did not break down. It was a clean trending day and breakout of the range. ================================================================================================================================================================== My trades today As per my plan, I bought 11200 CALL on break of 11220 and squared it off near the end of the day. My Observations for the day NIFTY broke out of the range today with 1.52% gain. It has closed above 11300. BANK NIFTY also gained 1.17% VIX cooled off and is now at 23.64 The Advance Decline ratio is good 42 to 8. Option Data indicating range of 1100-11500 for expiry. ================================================================================================================================================================== My view for tomorrow Typically, such range breakouts have caused 2-3 days of rally in NIFTY in the last 2-3 months. This time we can expect something different. If it is the last leg of up move, then NIFTY can see sudden surge in next 2-3 days into July 30 Expiry. If it is more like ordinary day, there may be some consolidation confirming the breakout. My plan for tomorrow No clear bias for tomorrow. So I’ll mostly watch opening and avoid jumping into trade in the initial hour. Reversal trade above 11380. If there is a retest, I need to see how it supports the breakout. My July 28 post
NSE:NIFTYLong
by Observe_Think_Act_Think
Trade Log NIFTY July 21My July 20 Trade Log I had said (Link below) Trend is up. There is no resistance till 10269. I’ll mostly trade intraday on upside. As I mentioned in my weekly view, I’ll wait patiently till I see some signs of exhaustion. In line with my Monthly view posted in June, NIFTY is close 400 points away from challenging my monthly view. Hence I don't move fast on either sides. Not much is changed. NIFTY is near the possible resistance zone of 10200-10270. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- My trades today Intraday, I sold the CALL option when opening low broke. That trade was trapped. That was a signal for selling PUT as well. Both positions squared off near the end of the day. I am also holding positional short, which is a risky trade. My observations for today NIFTY closed 1.27% up. Gap up was sustained. BANK NIFTY closed 2% up VIX down 1.15% Advance decline ratio 32 to 18. NIFTY is in it’s 6th week of upside. Also it is near the level which has been measured as the target of the move. That is the first swing from March lows to April High. My view for tomorrow and coming week 1. I’ll be trading with consolidation to bearish bias tomorrow. This view is against the trend but I think 10200-10270 is a good area to start thinking about reversal. 2. I’ll build positional shorts, not aggressively, but with generous time and price stop loss. 3. For tomorrow, if there is a gap up, I think it'll difficult to sustain the gap especially if it is near 10200.
NSE:NIFTY
by Observe_Think_Act_Think
6
Trade Log NIFTY July 20My view for this week My Trades As planned, I did a reversal trade around 11000. I was not quick enough to square it off on the first deep and made losses on the trade. My observations for the day NIFTY did not get rejected at 11000. It closed above 11000 by gaining 1.11% BANK NIFTY gained 1.62%. But It formed a doji candle + Gap opening. VIX increased 2.30%. This shows some sense of uncertainty amongst the market participants. Advance Decline ratio is 30 to 19. Not very supportive of the gains. My view for tomorrow Trend is up. There is no resistance till 10269. I’ll mostly trade intraday on upside. As I mentioned in my weekly view, I’ll wait patiently till I see some signs of exhaustion. In line with my Monthly view posted in June, NIFTY is close 400 points away from challenging my monthly view. Hence I don't move fast on either sides.
NSE:NIFTY
by Observe_Think_Act_Think
Trade Log NIFTY July 17In my yesterday’s post I had said Not much to conclude today. The larger picture does not change. I’ll trade when NIFTY breaks out of the 10550-10820 range. Some intra day short opportunities only below 10640. Overall, for the last 2-3 days I was inclined towards a bearish view. I was proved wrong by close above 10815. =========================================================================================== My trades I bought call on opening when trend change level is crossed, I squared it off near end of the day. My observations for the day NIFTY closed 1.5% higher. It formed a bullish candle and closed above 10900. BANK NIFTY closed 1.7% higher. VIX supported this up side with drop of 4.75% Advance Decline ratio positive 41 to 8 Option data suggests a range of 10700-11200. FII and DII data neutral. Overall, NIFTY daily structure is looking positive. But still overall I think some caution is required. I’ll detail my view out in the weekly view post. Have a good weekend!
NSE:NIFTY
by Observe_Think_Act_Think
3
Trade Log NIFTY July 8Review of yesterday’s view 1. With BANKNIFTY leading, the stage is set for a perfect rally tomorrow. It’s dead simple on charts now that NIFTY will go to 10900-11000 levels. 2. If there is a massive gap up, I won't trade. 3. For brave traders, the reversal opportunity is near 10989. It was a wrong expectation. NIFTY’s price action is bearish on daily charts now. My trades today I did multiple trades today. And survived the last one hour of selling. I plan to do a tutorial post on the same. It turned out to be not so good day for the tutorial trading, as the last 1 hr selling was very strong and not anticipated. My observations for the day. 1. NIFTY closed -0.87% down. It formed two back to back bearish candles. 2. BANK NIFTY also closed in the red -0.19%. 3. VIX rose 4% indicating uncertainty in the market. 4. Advance Decline ratio is 14 to 35. 5. Sentiment has turned bearish confirmed by open interest data. Today’s price action was pivotal in many ways. Though some confirmation would be great in the next 2-3 sessions by big red candle. NIFTY formed dragonfly doji on Tuesday and created bearish engulfing of that doji today. NIFTY closed below the bearish wedge pattern breakout today. This breakout has failed now. BANKNIFTY also formed a bearish candle for the day. All three previous tops had similar price action swing, climax and then fall. My view for tomorrow Tomorrow is a weekly expiry day. I am not sure if NIFTY pauses here for tomorrow or continues and fills the gap. Overall, I’ll trade now with bearish bias for the coming week. 10800 is a clear level which needs to be broken decisively for any thought of an up move.
NSE:NIFTY
by Observe_Think_Act_Think
Trade Log NIFTY July 7Review of my view from yesterday’s post Strong momentum day in trending market. If there is some consolidation tomorrow below today’s high, it is actually a good sign in favour of continuing positive momentum for 11000. If NIFTY rallies to make new high again towards 11000, it is very possible that it is near intermediate top. In that case it is better to trade strictly on very short targets. Better to stay out. Possibility 1 of consolidation. So overall, the setup looks good for a strong up move tomorrow. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- My trades today In the initial few 15 min candles, I assumed consolidation day. I entered short on the break of support and squared it off at gap support. Observations for the day NIFTY closed near high of the day with 0.33% gains. BANK NIFTY completed some lag with NIFTY which will add fuel to NIFTY now. It closed +1.93%. VIX fell to 25.10 Open Interest shows a 10500-11000 range for the week. My view for tomorrow’s session 1. With BANKNIFTY leading, the stage is set for a perfect rally tomorrow. It’s dead simple on charts now that NIFTY will go to 10900-11000 levels. 2. If there is a massive gap up, I won't trade. 3. For brave traders, the reversal opportunity is near 10989. The conflict I expressed in my weekly post is now resolved, and the chart is telling firm bullish sentiment. My Weekly review post
NSE:NIFTYLong
by Observe_Think_Act_Think
3
Trade Log NIFTY July 6In sync with my weekly view posted *************** Possibilities next week 1) BANK NIFTY starts performing in coming two sessions very strongly and NIFTY rushes to 10800-10900 levels. VIX further drops around 22-23 levels. 2) NIFTY fizzles out the rally and drops back or consolidates. Now for trading action, I do not think this is a good enough reading. Hence I wait. I wait patiently till I get some confirmation 1. If I see BANK NIFTY >> NIFTY and VIX dropping, I participate using intra day positions mostly buying options. I’ll avoid it if there are opening gaps. *************** Now possibility 1 played out. And I did action 1. My trades today 1. I bought a 10700 CALL option which was squared off at the first sign of weakness. My observations for the day NIFTY gained 1.47% ~ 5th straight day of higher high daily. BANK NIFTY gained 1.59%. But did not cross earlier high. VIX dropped to 25 Advance Decline ratio is 40 to 10. Option data showing room market participants expect on upside. My view for tomorrow Strong momentum day in trending market. If there is some consolidation tomorrow below today’s high, it is actually a good sign in favour of continuing positive momentum for 11000. If NIFTY rallies to make new high again towards 11000, it is very possible that it is near intermediate top. In that case it is better to trade strictly on very short targets. Better to stay out.
NSE:NIFTY
by Observe_Think_Act_Think
SPY Call SignalSpy might breakout here soon and it has gaps to fill on the upside, very bullish here Target is 312, then 318, then possibly 322 I called this in the group chat at 309.58 The group chat is having a 20% sell for the 4th of july ( Use coupon code: "July4" ) and will go on until sunday the 5th. I would , love to see anyone who supports my posts join our group and make even more money with us as we grow richer and richer by the day: If your interested join through DMing me All you'll have to do is join the discord, then go to free chat room and type upgrade and set up your membership. And of course Direct message me with any questions you have!
AMEX:SPYLong
by GoEasyScoobs
11