As growth starts to keep a bearish trend, I expect this breakout to continue on Oxy. I have been layering into call spreads for about a month since the local lows. Lots of room to run on the weekly stochastic RSI rising from low volatility. This stall candle we just printed is bullish and I expect continuation next week since we strongly confirmed this break out....
I remain short AMD after this major pivot. NVDA simply will continue to outperform this company and the stock based compensation relative to cash flows for AMD is pretty bearish/reckless. Key zone 1 has been rejected after an attempt at a strong bounce, I believe the next test will also fail and the monthly demand zone will capture. This is about another 15%...
I added PIN a few weeks ago after watching it for a while and my downside price target of 2$ hitting. Now that this is listed on another exchange its crazy to see how volatile it is. I will be adding more if we can more thoroughly dip into this demand zone I drew on the daily. A simple fib extension calls for a 3.4$ Pin in coming days/weeks if we continue...
The time is now, this is the same as when I traded AVAX with size a few months ago on the upswing. I believe SOL is about to have a massive move. Stochastic RSI has reset, BBWP is contracting. The golden momentum fib has been taken with conviction. A nice round number target is 350$. My plan: I have entered a large spot position at current prices, I will add...
NVO has sold off brutally after breaking the macro momentum trend. This stock was indeed overheated but sold off even worse after a miss on projected weight loss percentage of a new med. We have hit the golden pocket correction. BBWP is maxed out, and stochastic RSI is bottoming. This is extremely overblown, this new med is not even adding to their already massive...
Sofi had a nice pullback as we expected. Note the firing off BBWP. This will reset volatility and momentum. I would love to see this stock hit the golden pocket like my other option selling stocks. I would also like to see stochastic RSI hit below 10-15. My plan: Short-term bearish to 13ish Sofi I like to simply buy LEAP calls and slowly sell and march them...
Hims like the rest of the market had a nice fib rejection and pullback. The hot growth stocks are all pulling back to the golden pocket. This demand zone is already being tapped into but I would expect a more violent wick this week. This offers a nice reset to the stochastic RSI. BBWP also needs to drop for a bit for some contraction. My plan: short- term bearish...
Tsla had a strong rejection around 490, just short of a massive psychological level that is 500$. I have long since expected some level of a pull back but the stock just kept ripping. A reasonable zone for this to bounce is around 350$. This is the golden ratio, a golden pocket correction. Very likely during such a bullish trend, an opportunity. The stochastic RSI...
SPX looks bearish in the short term, these demand zones have a habit of being visited multiple times in the ebbs and flows of the market. Even the prior weekly demand zone had a re-test last year despite how bullish people were. A further pullback of 5% would bring is right into the most recent weekly demand zone. Funny how these play out long-term, these zones...
Sofi is prepping for a massive cup and handle projection. I expect this thing to correct for two more weeks alongside most markets. I believe SPX will correct another 3-4% into Jan 13th. I will be adding to my LEAP setups as we approach 13-14$. My target for this cup and handle projection is 24$, this may take some time. If the market remains macro bullish in...
Ondo is a different looking beast, I covered it during the prior cup and handle and it has since played out that move to my first target of 2$. A nice cool off has begun but the BBWP did not flash red, this is good, this means there is a lot more leg room long term. A simple fib extension provides a price target 2 of 3.15$.
Over the years I have learned that crypto "fundamentals" dont matter. Category, and trending against BTC is all that matters if you want to make money. Do not get yourself sold by the story, look at the chart, this is internet money, not stocks. Sui I added back around the 2$ mark and I have been adding with size as I cut my slower movers (Near, AKT, INJ)....
As I consolidate my losers against Bitcoin a few tokens stand out that I have been adding weight to. As a general rule, if you internet money is not trending higher against BTC then it most likely will underperform through May of next year. I have taken a few of my slow movers specifically NEAR & AKT & INJ and divived those profits into the three I will cover...
Zooming out from the four-hour to the weekly (my favorite timeframe). It is easy to note that the chart does not look quite as bearish. The BBWP and stochastic RSI needed this cool off zone for a few days/weeks, this allows for continuation. BTC did not quite hit my target before the expected downturn. This remains my PT1. I believe we will see around 140k my...
BTC is pretty bearish right now as it cools off. I do not usually share 4 hour charts these days, look at the resetting BBWP and RSI. This is a much needed cool off. This correction will allow whales to get that final under 100k entry before the Q1 pump. I expect more capitulation, and a daily wick to my initial target. Volume has dropped off making this easier to...
As I continue to practice and learn Elliot wave, it is fairly apparent PLTR is overheated using other metrics. The stock has blown past the 1.618 Fib, the BBWP remains extremely overheated, and the stochastic RSI is overheated as well. I believe we will see a mild forth wave followed up a dead cat bounce. This 5th wave rejection will lead to the correction PLTR...
Observe this chart. You will note how powerful weekly supply and demand zones can be. Strong buying came in in the green box (demand). Strong selling arrived in the red box (supply). These are some of my favorite strategies for my most preferred setups which are multi-week/month. I would not be surprised to see a test back into the demand zone on this diltuted...
SUPER essentially hit my target for the month early and on that wick. I think we get a nice bounce in the prior resistance zone as support. This is a healthy reset and needed for the next leg. Summary: Short-term pullback into the zone First week of Jan likely to enter that circle