SIX - Head & shoulder formation, Consider Jun 55/60 Puts SIX seems forming a head & shoulder pattern. And now rolling over beautifully. The H&S pattern has potential to decline all the way down to $42.
To play this we would consider $55 Jun Puts, currently $1.48 or $60 Jun puts for $3.69
Please check back for Trade updates. (Note: Trade update is little delayed here.)
G-channel
SPY (S&P500)- 525% profit in 1 day!! You didn't see that coming!Last night we talked about a Head & Shoulder on the SPY, and discussed Taking 238 Put option position on SPY.
As entry criteria we discussed SPY to run upward around 237.50 - 238 to form the Rigth shoulder & drop from there.
Surprisingly SPY went up at 237.50 in the morning. We considered to take a 238 March 24th Put option for $0.64.
After that SPY ran all they way down to our target are 234!!
Put went up from $0.64 to wapping $4, that was 525% return on a single day!!!
Hope you joined us in the party.
(For entry clarification please check our relevant SPY post yesterday)
SPY - H&S formation short from $237.5 t0 $233 (238 Put option) SPY appears to be in a short term H&S pattern. It may reverse to $38 area to form the second shoulder & that will be place where we would look for shorting opportunity. At the break of H&S it can decline to $233-34 area.
* Trade Criteria *
Date first found- March 20, 2017
Pattern/Why- Possible Head & shoulder formation
Entry Target Criteria- Break of $237.5- -$238
Exit Target Criteria- $$233-$234
Stop Loss Criteria- N/A
Option - Speculative trades may consider $238 Spy Puts.
Please check back for Trade updates. (Note: Trade update is little delayed here.)
GPRE - Big insider selling Possible Short from $24.00 to $14 GPRE seems forming a Long term double tap Head & shoulder formation. It also has a lot of insider selling. Aggressive trades may want to enter into Short trade now, but we would like to wait a bit for perfect entry.
* Trade Criteria *
Date first found-March 16, 2017
Pattern/Why- Long term double tap Head & shoulder
Entry Target Criteria- Break of $24 or lower
Exit Target Criteria- $14
Stop Loss Criteria- $24.73
Please check back for Trade updates. (Note: Trade update is little delayed here.)
GBP/EUR Short at Channel ResistanceWe are approaching the top of an upward channel, this key area of resistance is a good area for a sell opportunity. This is supported by divergence, that suggests that the next peak will be lower than the last - which would fall at the top of the trend line. Before placing a trade wait until the candle closes, if the candle closes outside of the trend line the set up is invalid. Finally, this upward trend has a bias to break to the upside, so this opportunity needs to be considered thoroughly.
EUR/GBP Short Opportunity - Channel ReversalThe top of the bearish channel is a good opportunity for a short position. This type of trade gives a good risk/reward ratio, stops should be placed outside of the channel. It is key that stops still allow price to move above the trendline and not be too close to the trendline, therefore the 0.85570 zone is a nice level for this. Targets could be the bottom of the channel or at the middle of the channel where a support level is visible
$MU Regression Channels: currently in an uptrendThis post is a supplement on my previous post on the (Wyckoff) accumulation phases.
Linear regression shows $MU is currently in an uptrend.
Gold regression since 2013 collapseGold is trading at the upper extreme of its regression channel since it broke down in April 2013.
Deduce what you will based on your own trading strategy, some may view this as a potential break-out, others might play the mean-reversion.
I'm agnostic for $DXY related reasons, so I will watch closely.
Triangle pattern and uptrend regression LONG indicationNot much to say here. We see an obvious regression going on indicating an uptrend is about to take place, however it's also possible the stock price follows the triangle pattern plotted breaking through the bottom (bearish) or top (bullish). It's any mans guess at this point.
Suspicious. Bitcoin misses Christmas?The mainstream press like CNN, Bloomberg or The Guardian thinks that Bitcoin is dead by simply comparing the price change from December 2013 to 2014. Bitcoin is far from dead, but there is a risk of a new downtrend if the price falls below $315
- Bitcoin Bears Say Told You So As Digital Currency Falls (Bloomberg. December 15, 2014)
www.bloomberg.com
- Bitcoin stalls after hitting record prices in 2013 (The Guardian. December 15, 2014)
www.theguardian.com
- Is Bitcoin over? (CNN International. December 15, 2014)
twitter.com
FDX breakoutFDX is another one of our preferred trending stocks and has been discussed in our private forum a few times.
Price broke out of the regression trend channel almost 2 weeks ago and continued to trend upward. Yesterday price closed above the resistance level and this has now been placed onto our bullish watchlist.
Wewill wait for a chart pattern to set up any long positions.
