AdvancedPlays

AdvancedPlays

I've been sharing a lot of bullish silver ideas lately and have been accumulating for a few days. So far no movement. This is another look at the 1hr, nice looking bull flag in addition to many other confirmations. Starting to wonder if it's going to move soon or not but we'll see. A break should should lead to a move back to 31.50 at least.

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VX has broken above 17 and is trying to sustain above. Looks like some bullish consolidation on the 15m, I'm expecting a break up to 18.40. That would likely lead to a new session low and more downside for ES. Opposite happens if it falls back below 17.

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We sold off more than I expected today, but we're finally coming back into the $585 area which I have been waiting for since the post election rally. Looks like a great spot to pick up some longs with solid risk/reward. If it doesn't hold, could turn into a good short idea on the retest. For now I full expect a bounce here into the early parts of next week.

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Silver is another interest rate sensitive ticker with a bullish pattern heading into next week's fed decision. It has a nice bull flag on the 1D. It did have a fakeout below, but the lower trendline is still being respected and it closed at the top end of the flag last week. If it breaks above, I'd expect continuation to at least 32.50. Final target will be...

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Nice move for ES this morning up off the bottom end of the range. Now it's all the way back to the top. I expect a rejection here, but if it breaks at least I'll know it's time to exit shorts. Next upside target would be 5955. If it works out, downside target will be 5900 first and then we'll see if it can break any lower. Lots of things lining up to make this a...

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NVDA is retesting the $144 area along with a trendline it broke below recently. I like the short side here down to $140 and potentially lower. Stop above $144 or high of day with an upside target of the trendline above/ATH.

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Silver had a nice downtrend breakout after some recent weakness and looks poised for another leg up if it can hold this area. This is by far my favorite trade in the market right now. Targeting $32.50 and beyond. Stop around $30.70.

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Will be watching this wedge on VX throughout the week for directional bias on SPY. VX is near the top end now trying to break. If it does break up, first target is 16.60 followed by ~17. To the downside, it has critical support around 15.25, we could see another big leg up for SPY if it breaks below and continues falling. Will be cautious with longs if VX breaks...

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ES is threatening to break below the uptrend from early August. It has been respecting this trend pretty well except for the fakeout below in late October. I expect a bounce here, but it's worth noting today was the first close below 6k since ES broke above it. It needs reclaim quickly and hold this uptrend, otherwise we could see another leg down to the 5900 area.

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NQ gas been consolidating after breaking above its longer term wedge. Nice looking bull flag here on the 4hr. I think an upside break would likely lead to another new ATH. If not, strong support below with demand and some longer term trend support. I think any moves down to the 21k-20.8k area will be bought but if not we could see a lot downside and quick.

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TNX failed on the first breakout attempt but quickly reclaimed and is now looking poised for another leg up. Many are calling for a move back up to 5% and I personally think that is likely to happen as well. We may get a reaction tomorrow morning after PPI and jobs data and I expect it to be up for now. I refuse to believe stocks will be able to go up in unison...

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VX looks primed for a move up to 16.60 after a descending channel breakout and retest. Makes me wonder if CPI is about to come in hot or have a negative reaction. We'll find out soon enough. 16.60 will be key for VX to get above and stay above for bears to have a day. I'll have bearish bias until VX falls back below 16. Ideally we'd get a long opportunity on SPY...

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We have potential for a big day tomorrow up or down with CPI being released before open. Right now it looks like NQ is forming an inverse H&S. We'll see if it plays out over night. Could be getting ready for a bullish reaction to CPI. If so, I'll look for longs, specifically on a hold of this neckline and if it can reclaim the highs from the last session near...

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We have a nice bull flag/wedge here on the 15m. I'll be looking for a break to the upside to enter longs targeting the recent swing high first. Could also be good to wait for a break and retest to enter. For shorts, could look for an entry if the wedge breaks to the downside targeting the gap fill at $322.70. The best trade would probably come on a retest of the...

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META has potential to break out here and continue higher after holding, but if it doesn't I'll be looking for longs near $573.19. Tight stop below, final downside target would be demand/previous ATH near $544.45. First upside target for the long would be around $588. Shorting at the gap fill near $588 has potential as well.

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We got a bearish break on some shorter term timeframes, but I'm still looking for dips to buy until bears prove themselves. Ideally ES would come all the back down to demand and 6,000 for a long. Another potential support area is around 6,020. I'd prefer the long at 6,000, especially if VX is near resistance at the time. However, a long could work around 6,020...

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NVDA is retesting a previous ATH now, I think it's important for bulls to hold it here. If it breaks, I'd expect a move down to the fill the gap around $140. If bulls can hold it, it should be a good long for a move back up to ATH at least. Pretty good risk reward in this area, wouldn't want to be caught on the wrong side of it when it picks a direction.

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I consider cup and handles to be a trap for most new traders because they are quite rare and often times when you see people posting cup and handles, they aren't real cup and handles. Cup and handles can't don't exist on a 15m or 1hr chart and most certainly not on a 1m or 5m if you ask me. That being said, this is a pretty nice cup and handle here on the 1W that...