So far small short until confirmedDescending triangle to push it down
Need to see a trend line break in order to go long term though
SMH trade ideas
SMH Breakout Pattern, Trade UpdateSMH Breakout is on-going as we are holding our long positions into 2021. The motive impulse is still in progress, look to stretch profits into wave (3) upside target 236 and then 265.
SMH - Neutral but Slightly Bearish Nearterm
Not trading advice. Just journaling my chart entry here.
SMH Existing Long Position (Wave 5 Bullish)Notice Semiconductors is leading the charge with the S&P which is positively correlated. Updates on existing longs on SMH that is likely to extend this terminal rally into 220-230 until there is irrefutable evidence to consider the top is in.
Halloween is over - but this is still spooky!Semiconductor ETF (SMH Monthly candlestick chart, displaying a large upper shadow for October.
SMH Existing Long Position (Wave 5 Bullish)Updates on existing Long position on SMH from last week that have moved in the money. SMH is unfolding into wave 5 that could reach 190-195. The key is to stretch existing profits on SMH with the daily chart that shows SMH terminal wave 5 rally is in progress.
SMH Existing Long Position (Wave 5 Bullish)Updates on existing Long position on SMH from last week that have moved in the money. SMH is unfolding into wave 5 that could reach 190-195. The key is to stretch existing profits on SMH with the daily chart that shows SMH terminal wave 5 rally is in progress.
$SMH Chart review$SMH looking great! retesting last month's range and above all EMAs. if we hold, could see ATH test.
SMH Bullish Trade Setup (Potential Breakout) We’re tracking a breakout pattern on SMH as semiconductors are setting up for another wave higher into wave (v). Look to setup Longs on SMH expiring Nov-Dec. Detailed Trade Execution on Video Update.
Breakdown of Semiconductors Simple view of this critical sector breaking through key technical trendlines.
Our first bearish sign was the break earlier in August, which held, and rallied back above the original broken trendline. That quickly stopped as momentum ran out, and it's now breaking through multiple trendlines with bulls at max long. This can potentially fall significantly given the overweight bullish positioning and the stretched overbought price.
SMH/QQQ Ratio ChartMy Favorite Ratio Chart. Semiconductors are a leading indicator of the Tech sector.
Typically has a timely divergence with few false signals.
Best,
RH
SMH on watchLong in and above box. Short below box or wait for long pull back entry from lower targets.
Cup and Handle SMHETF that appears to be trading in a cup and handle pattern
Hypothetical break out is 152.7
Targets : 174 187 197
Stop is set below handle low or mid cup
Be safe!
