Short on Turtle soup new high then reversal
Looks like its bullish run may need some consolidation,
anticipating due to daily candle reversal after GAP to new high failed and old high penetrated.
I may hold this fora week if follows through...
tight stop loss above recent high...this seems like a lower probability, but also low risk trade.
Streetsmarts
Signal is momentum pinball and The Anty
I see some upside potential in DASH, due to the following signals:
1. Momentum Pinball shows very oversold levels, which historically has led to a good sharp rally
2. The ANTY is triggered today on a break of yesterday's highs.
3. The 1 hourly chart shows a clear spike on opening bar for the week, and volume interest is Higher than average.
strategy:
4. I will add to a test of recent lows about -5% below.
5. If price can rally past the DOWNTREND line at about $74.50, I will move STOPLOSS to BREAKEVEN.
6. I will hold multidays for a retest of recent highs around $89.50 for a profit of +25%.
Turtle Soup / The ANTYThis is a new 20 day low failure of breakout - with a confirmed reversal on daily chart ( high of yesterday broken) to upside.
Obviously risky as counter-trend, but high risk is compensated by tight stoploss -77 pips for +225 projection and
volume point of control line target. Also equals last rally on dailies.... ( Double drive theory).
Turtle soup plus 1 - reversal of new 20 day low
1.Seeing to take advantage of a failed breakout on a new 20 day low, the next day reversal ( plus 1).
2. There is a 'modified' ANTY signal - taking advantage of wave function 'oversold' levels' in a corrective technical action
3. modified ' momentum pinball, as not quite reached 20 line but again at levels where up cycle occurs - looking for 2-4 days only swing trade
The Anty signal - with technical bear signsThe ANty signal- from StreetSmarts '
Also technically;
1. A double top;
2. a double drive up corrective termination
3. The Anty shows a mdified Stochastic function with oversold fast line, and slow line sloping downwards taking advantage of some wave swing up & down...
4. holding time 2-4 days only for swing trade down...
Anty buy set-up if breaks yesterday high...
With the ANTY set up - oversold on modified Stochastic, and new up sloping slow line,
possible buystop entry if breaks above Friday's high. Expect a 'pop' with short covering of at least 90 pips...
stoploss below recent low -65 pips.
This potentially could form a 2nd higher low on daily charts, which ceases to be strongly bearish and attracts buyers.
OIL looks to be topping at new highs and forming a lower high threatens a correction....this would be negative for CAD.
Lots of IF's here, so only entering if market strengthens, otherwise kill order tomorrow if sustains downtrend and look for a new 20 day low that reverses sharply ( Turtle soup)....
WES - neutral to bullish strategy : Bull Put Spread ( options)
The Consumer discretionary sector is correcting in a Bull leg - it has done 'normal' correction so far in length and time;
SO looking at a stronger leading stock in the sector - we have a similar action.
As this places a slightly higher probability of the stock at least holding 'above' support zones below - a neutral to bullish options credit spread can take advantage of slightly higher options implied volatility for the past 30 day ( 33% vs 27%) ;
and with only 14 days left on June 25th expiry can get the 'time-decay' before it closes below credit leg strike of 40.75.
Bull Put spread June expiry : -15 shares @ 40.75 strike ( european) = -0.74
+15 @ 40.06 = +0.53 diff = + $ 464 premium paid
no stops required as if stock expires 'in the money below 40.74, I will buy the stock after being exercised and hold for a recovery of any losses on the table whilst doing a covered call strategy for extra income & hold for dividend payment in 2 months time.....
The entry strategy : Firstly, the consumer discretionary sector is down three bear bars without too much overlap,
and it has equaled the largest correction recently of about -9.5%. As its a fairly strong uptrend, I anticiapte it won't drop to much further or if so, it will recover fairly quickly to AT LEAST present levels for the next two weeks.... ( neutral)
This is because this sector is defensive in nature, and coming to end of June Quarter should see ' window dressing' by FUNDs on the conservative side.
Stock analysis : WES has a similar corrective degree though only -7.5%, and is the 'Leader' in terms of strength in this sector.
The entry signal is based loosely on 'The ANTY' which takes advantage of catching brief corrections in a larger trend.
The modified Stochastic indicator shows its cycled down to corrective part of cycle creating a disparity in price to averages.
I only haven't waited for 'confirmation of next day recovery because I wish to use an options - spread as ' protection rather than a stoploss, and I want to enter on a down- day to get the most oomph in the put premium I can sqeeze out given only 14 days left for time-decay to do the rest of the errosion in premium ( and thus my profit being a credit spread).
WPL : CFD's- Turtle soup plus 1 day with momentum pinball entry
This is a second entry after scratching the first turtle soup entry a few days ago....
This time it went lower to a new >21 day low yesterday, then opened above that old low of 21.07
As rallied from morning, I noticed it showed another signal on /momentum pinball because I missed that low entry due to gapping up, so I entered on the break > high first 1 hour bar...
Looking for follow through of a few days.
I have a tight stop of below yesterdays low....only risk is a gap below that low by much....?
neutral to bullish BXB ( asx) - bull credit spread
This is based on ' The Anty' strategy in which after a normal correction degree, there is at least the same or better recovery in price - a neutral to bullish strategy is bull put spread ( paid a credit) and with only 8 days until expiry benefit from time-decay at a fairly high probability scenario....it needs to close below 10.98 at expiry ( using european style options) so get exercised and forced to purchase stock at this price ( 500 shares contracted). There is put protection below at 10.48 so if really falls hard the most I can lose is -$500 ( fixed loss). Of course I would hold the stock until at least recover the loss as an attractive price over 3 months...
Long on ADX 'Gapper" signsThis is from 'Streetsmarts"
ADX Gapper strategy > It gaps down below yesterdays low and then recovers...
place buy stop at old low with stop below todays low.
I think its fairly high risk strategy, but low risk / low probability profile is acceptable if have a
compensation of reward being much larger ( eg > 2:1 )
See how it goes today.
Some added comfort that its made a new 11 day low, which may add some 'break-back' potential power...
Turtle soup plus 1 : short at new 20 day highThis new high seems climactic...selling a break-back below older 20 day high level for a few days hold correction only.
As a CFD trade, I will re-assess at close of trade today and if not in good profit may add a 'Guaranteed stop ' premium to avoid any surprise GAPS after weekend upwards.
Scalp on oversold NZDJPY : 80-20 strategyLooking to see a reversal here using 80-20 strategy : previous day in overall bullish on dailies then have :
1. Open in upper 20% of previous days range & close in lower 20%
2. start of asia, a slight lower low by 10-20 pips then reversal back into previous days low
3. stop loss below today's low by 10 pips, should go into profit quickly
* low probability / low risk opportunity
WPL ( ASX) buy day trade : many strategies ticked
This looks a little over-sold today : Sure, energy sector smashed today -5% and worst performing sector on asx,
however, Its very over-stretched on the down side today.
So this leading energy stock is good to BUY as a day trade only. Not holding over weekend.
Only buying small ( about 1/3rd normal size) with a tight stop under low of day.
Strategies ticked ( all Street Smart strategies...)
1. Turtle soup > new 20 day low, with buy stop just above old low 20 days ago> false break possible
2. momentum pinball> RSI/ROC function is < 30; buy on break of high of first hour @ 21.40 stop under this bar
3. The Anty > the modified Stochastic is stretched down side in a larger daily uptrend, hitting -38% retracement, usually a 3 day strategy
Looking to exit by close today in profit....