Spike-trading
Market getting toppy? Lots of bearish signalsI primarily use TDAmeritrade's thinkorswim platform to trade and I am starting to notice that their intraday data integrity is far better than Tradingview. I use thinkorswim to generate my morning alerts for "spikes" and the bars in the platform are very different from TV. Regardless, the number of alerts this morning gives me a hint that the market is getting a bit toppy today. I had 2 Limit order profits hit and closed 2 other bullish trades manually. I went short AZO and ALL on signals. Here is this morning's list for posterity. This many data points should yield some statistics on the signal.
AGN
ALL
AMGN
ANTM
AZO
BDX
BMY
BR
CDNS
CPB
KMX
CME
CMCSA
GLW
DHR
DRI
XRAY
ETR
FE
FCX
AJG
JKHY
HLT
INTU
IQV
LVS
LYV
MKTX
MMC
MDLZ
MCO
MOS
MSCI
NDAQ
PFE
PPG
PGR
DGX
ROST
CRM
SRE
NOW
STE
SYK
TMO
TRV
VRSK
DIS
XRX
ZBH
CAD signaling a reverseAlerts went off this morning on the CAD pairs (USDCAD, EURCAD, CADCHF) with some intraday price action. Price spiked up on these pairs (down in the CAD) for the first part of the US session only to slam back to below the session opens. I'm going to play this as a confirmation of the countertrend pullback within a full reversal of the CAD's recent run-up. I want to play the move down to a target around 1.38 on USDCAD; the 50% retracement of the run-up.
Smarter than Buffett?"Delta plunges after Warren Buffett's Berkshire Hathaway slashes its stake" is the morning's headline following the announcement. As investments I don't know why anyone would want to own airlines. They are too exposed to all kinds of risk... world economic factors, energy, terrorism, and now plagues. But to trade airlines... the contrarian in me combined with a price action alert makes me want to test for an opportunity. Earnings are this week and I do not expect anything they say to help or harm what is already known; that Delta is burning through a whopping $60 million per DAY! So while there is some earnings gap risk I'm going to keep my position small and exploratory. Let's see if this is the double bottom of the Daily.
Spike Trade USDCADGot a spike alert at the top of the 1pm hour on FOREXCOM:USDCAD . CAD has been a big player in the market's volatility due to the price of oil. Using this alert and setup as a trigger to test for a top.
Getting simple with spike tradingCoded up a highlight for a simple plan to look for price spikes where the candle closes to hold the median line. Stop loss above the spike; targeting a 2 to 1 or 3 to 1.
Potential trade setup: EUR/AUD analysisAs previously mentioned EUR/AUD has overextended into the yearly highs price region, even though we should be expecting a retracement price can be easily manipulated around this region especially ahead of a lot of fundamentals data from ECB and AUD policy details out this week that could easily be a key driver in market activity. Awaiting for a potential 3rd drive into the highs before considering additional shorts to the targeted region to bounce off the trendline which is in alignment with the 50% fib line.
Trade update:XAU/USD analysisprice could tap the dynamic resistance $1342.93 and have wicks rejecting that zone before price reverses and rallies to the targeted downside of $1320.00
Trade Update: EUR/GBP analysis this is the 3rd drive into the highs of 0.89155 which price couldn't break, almost creating a triple top, this is a great risk/reward trade as mentioned before.
Similar SPIKE Upwards, Similar Candle Construction. Breakdown?COINBASE:BTCUSD Is acting as always in algorithimic patterns.
So far I see similar construction from the first breakdown. Making me lean to another breakdown making a "BART" Simson on macro chart of 1week.
