TNA trade ideas
TNA Short Opportunity Setting UpTwo very strong resistance cues:
(1) you have the former support turned resistance line
(2) you do not have a lot of room for price to advance if it does poke through the resistance line
Here is what I am looking for:
(a) price to breach resistance line to the upside
(b) price to pop aggressively above the upper daily bollinger band
(c) harvesting of the late exuberant bulls before a significant decline
Small Cap breakout during Middle of DecemberI just took profits on my longs on Friday expecting a pullback to the lows or even better a drop below the bottom edge to grab liquidity. I want to see declining volume on the lows to ensure there is no more supply before the rally begins either in mid month or in time for the santa clause rally. Price will probably compress at the bottom during the quiet holiday week with lower volume. On the larger time frames, this is a huge Bull Flag, just waiting to explode especially after they grabbed the stops in October. Take profit at $100, then rebuy on the tap back to $86 area.
At the same time i see that bonds have peaked and gold is continuing its drop after it grabbed liquidity from the weak shorts. The quarterly chart on gold broke below its support and should continue much lower during next year. All commodities are weak because of the strong US dollar.
SMALL CAPS DEJA VURussell 2000 (Small Cap Stocks) back where it was one year ago and several times since.
TNA Bullish for the next few weeksYou could have added to longs with your earnings this way. Bullish fundamental outlook for the next few weeks for stocks. Here's a low risk entry to go long with a tight stop.
TNA abcd in speA quick chart for TNA...abcd could be in the cards.
Has retraced a 61.8 and bouncing.
I'm early in on 1st long position
Safe trading Ladies & Gents
BM
After posting chart: ( The fib should have been at the exactly top - then a perfect spot on 61.8 retrace could be seen)
Double zig zag done? Looks like a double zigzag is in the cards ... but could go lower for the 1,168 fib for completion. A capitulation flush and then a strong bounce up. But i'm hesitating to go in for more than a scalp here. Monday could be the day of good timing after a friday sell off before close.
Time will show
Safe trading here ladies and gents!
BM
