RIOT trade ideas
Trading idea for next week: Look for mondays biggest gainersThen these gainers should make new highs and then provide a low risk entry on a prior day low / POC with taget 100% or fridays close
All Time High$riot pushed an all-time-high today. Will the run continue into Friday's session? I'm looking for a push pre-market to see what the price action brings.
Short MARA. Way overcookedWhen you compare MARA and FTFT to bitcoin, FTFT has stayed in-line with bitcoin while MARA has had a meteoric rise. I believe it has gotten out way past its skis.
For MARA, a company tied heavily to Bitcoin has outperformed it by an astronomical amount. This is not sustainable. Expect a pullback to at least the $28 range, which was previous resistance.
The 50-day moving average is uncomfortably ahead of the 200-day moving average indicating the trade could be overheating.
BTC to the Moon! To the MOON! But where is the moon right now is the question? Looks like eye level for another half day. Could definitely take a healthy dip and then shoot. I'm here for it! Tell me what you think!
RIOT and previous highToday RIOT smacked the previous high and stop like it hit a wall. Lets see this baby break out and it will be off to the races. Look at the beautiful long term basing pattern. The stock has been strong and this could explode
First Green Day$riot had a nice set-up pre-market with another strong rising wedge pattern that has been a notable chart pattern for the largest movers this week. Key elements: 52-week breakout gapping to new all-time highs, pre-market breakout gap-up at open, first green-day, and my favorite pattern that I call Post-Pennant Expansion. The chart seems to 'expand' after breaking through a wedge/pennant apex. The price action is bound within the diverging support and resistance lines of the wedge/pennant post apex. Acceleration can be high during these moments and is perfect for weekly gamma plays. 45c 2/12 entered at 169 exited too early at 183 for 8% gain. Trading wasn't as organized as I hoped for, but the contract had a morning high of 280 so I left 57% on the table. 8% is still a win.
Crypto SympathyAnother strong wedge pattern that seems to be working the past few weeks. $riot is moving in sympathy to crypto news catalysts and is looking to break out to a new 52-week high for Wednesday, February 10, 2021. Resistance at 42/43.
Price action game
The most real choice than bitcoin itself.
the blockchain with the two engines the price action and the volume will fly very high
RIOT $50did a retake of this one after I watched previous video and previous resistance coming ~$50.
Its already doubled off its low and outpacing bitcoin right now. going to be more cautious around the $50 area.
want it to hold $35
not financial advice
RIOT option call March/26th 28$ strike why riot?? well
that tesla dude tweeted and bought a bunch on BC sooooo i decided to buy in butttt not BC i like the company that mines that shitttt
its almost a no brainer, i see some solid momentum and im always down to ride a wave baby.
its also a cheep stock for young traders to push up.
the ticker symbol alone is funny LOL
RIOT stays below $20 for Feb monthliesThe RIOT Feb 19 $20 Calls have the highest open interest, and are 65% on the call side. And the shorts don't lose them all.
Now I acknowledge that BTC could go bananas and maybe RIOT simply follows, but volume has come down. I expect a consolidation period and that we don't see big movement until after the $20 calls expire.
Overall, bullish for the next 90 days - PT 22/25/30. But think it takes the next 20 days to reset.
RIOT update from FEB 5My apologies, new here and thus have been flagged for not following house rules and suggesting everyone check out these amazing indicators, don't do that, and I will no longer be asking for you to do so... Lesson learned, moving on...From now on just enjoy these charts, hit that like button and follow if you want more ideas. I will be posting more trading ideas/instructions with my main focus being area of value trades and breakouts like this one!!!
From my post Friday (this same chart here) we now have a 50% gain (a 7X move on the option...) be ready for a pullback but I am long RIOT in the age of crypto...
I entered the FEB 19 calls before close friday. Cheers to all who got in!
Riot Blockchain month to date"Riot Blockchain Inc. focuses on bitcoin mining, supporting the bitcoin blockchain by participating in Bitcoin’s consensus system through proof-of-work mining, racing to find the next block and building upon the chain. We aim to be one of the largest and lowest-cost producers of bitcoin in North America." (source: RIOT website) "Riot Blockchain, Inc. operates as a digital currency company. The Company focuses on buying cryptocurrency and blockchain businesses, as well as supports blockchain technology companies. Riot Blockchain also maintains its existing biotechnology business segments." (source: Bloomberg) Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny a day for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
www.tradingview.com
RIOT: Bullish FlagBullish Flag
Pros:
Descending volume during formation
PPS above 50MA and 200MA
RS above 0, but descending
ATR Ascending
R/R ratio above 8
200MA ascending
250RSI above 50
PT = 49.32$
$RIOT - I am inI like the beak, I like the hammer today, I like the unusual call buying for September @$40 strike price
I grabbed commons, will add as the levels present themselves.
RIOT TO 14 or 28So I originally argued this would go back under 20.
Using the old chart, it shows both RIOT/Mara are simple to trade, they follow technical lines.
So Riot was down to as low as 16.
Is it possible if bitcoin is trading sideline, Riot and Mara would go down to 14?
If so guys, load !!!
