Eighty_Street_Capital

Eighty_Street_Capital

Gold has been in a downtrend since it's high on March 8. Things to note: - we have a bearish alignment of the SMAs i.e. short-term moving averages below long-term ones - bearish cross of 100 below 200 back on Aug 10 - bearish cross of 100 below 300 back on Aug 25 - bearish cross of 21 below 50 on Sept 5 - price is holding onto 9SMA + major LT support between...

Eighty_Street_Capital

ETH just got a bearish cross of the 9 below the 21SMA on the 15 min chart. This is good IMO, as it will give us lower entry points & cool-off the RSIs on the lower TFs, allowing us to push higher over next few days. Bottom target anywhere between $1730 - $1750, if lower all guucc. The 4HR TF is about to get a nice bullish cross of the 21 above the 200SMA, so...

Eighty_Street_Capital

#BTC has had some nice upward action over the past few days. The bulls have a bit more work to do than with #ETH, as BTC broke below it's BF support channel and will find resistance there on it's upward move. Things to note on the daily TF: - 9SMA potentially to cross 21 over next few days - 50SMA is next resistance, followed by 100, then BF channel - 50 looking...

Eighty_Street_Capital

ETH has been on a run & managed to break through the downward slopping resistance from the Nov ATH @ $1750. Things to note on the daily: - 9SMA is gearing up to potentially cross above the 50 in the next few days - bull target #1 $1805 - $1820 Golden Pocket - lower TFs are very overbought, so lookout for a back-test of $1750ish if we do hit the Golden Pocket...

Eighty_Street_Capital

Quick re-cap on the long position that I closed @ midnight EST last night: -I was hoping that price would break out beyond downward slopping trendline @ $1745, but could see pressure slowing - RSI on the 4HR TF was getting pretty overbought - no re-test of the 50SMA on the DAILY TF since we broke above it on Sept 9 I decided to take profits on the 20 ETH @...

Eighty_Street_Capital

ETH had a nice rip to the upside after breaking through the 50 & 100SMAs. As I mentioned previously, I took my first long when I saw it breaking through the 50 & 100, & noticed that there was going to be a Golden Cross within the next 8 hours. I then noticed that the 9SMA was turning up and looking to start ripping through the higher SMAs, which it ended up doing,...

Eighty_Street_Capital

I won't share price targets here as I covered that in the daily, but there are some important things to note: - the 50 is looking to cross BELOW the 100. This would NOT be good for the bulls - the 9 crossed above the 21 BUT price action remains below it. Bulls will need to get above the 9 to push higher up to our bullish gap targets

Eighty_Street_Capital

The NDX had another green day, gapping up @ open and closing up +2.17%. Things to note: - we hit & filled our 1st gap target @ $12.6K - closed slightly above 50SMA (needs to hold for bullish continuation) - the 9SMA is looking to turn up - had our Golden Cross (50 above 100) on Tuesday The downward slopping trendline & 21SMA is our next major resistance,...

Eighty_Street_Capital

The $QQQ has not yet, but most likely will, fill our gap target @ $307.50 by EOD. Things to note: - 9 looking to cross 21SMA on Monday (bullish) - bull target 1 about to be hit - bull targets 2 & 3 remain unchanged

Eighty_Street_Capital

We hit our first bull target today @ the $405 gap. Things to note: - bullish cross of 50 above 100 to occur Monday - bullish cross of 9 above 21 to occur Monday - targets remain the same for now

Eighty_Street_Capital

Update on ST #ETH Trade My 1st TP level hit successfully @ $1725. I've decided to increase the 2nd TP level from $1750 to $1830 because the 9SMA is about to cross the 300 on the 4HR chart, which is super bullish. The cross will occur @ 12PM EST. Remember, the price could go higher but as a trader it's always wise to take some profits, especially during times of...

Eighty_Street_Capital

Things to note: - price broke above 9SMA briefly today but was rejected by bear flag channel (so far) - we had a Golden Cross of the 50 above the 100 on Tuesday (bullish obv) - bull target #1 gap @ $307.50 - bull target #2 Golden Pocket FIB @ $317.82 - bull target #3 gap @ $322.72 + downward slopping resistance I'm holding SEPT30 $330 $QQQ CALLS to play the...

Eighty_Street_Capital

$QQQ Update 4HR TF As with the $SPY, the $QQQ is seeing some relief after multiple weeks of downward price action. Things to note: - price has broken above & found support on the 9SMA - bearish rejection of the BF channel & 21SMA (so far) - bullish cross of the 100 above the 200SMA back on Tuesday The reason we analyze the lower TF is to catch price direction...

Eighty_Street_Capital

There aren't as many bullish signals on the daily TF, but this is normal because the 4HR will catch them first as it is lower TF. Things to note: - possible bullish cross of 50 above 100SMA tomorrow - expect the 9 to start to turn up if this happens - bull target #1 gap @ $405 - bull target #2 Golden Pocket FIB retracement @ $415 - bull target #3 gap @ $422 +...

Eighty_Street_Capital

The #SPY has been in a downtrend since the high of Aug 16, but has been getting some nice bounces this week. Things to note on the 4HR TF: - price broke back into BF channel and is holding the 9SMA as support - attempted to break above 100/21SMAs but failed so far (stay tuned) - looking at a possible bullish cross of 100 above 200SMA by EOD - 9SMA turning up, if...

Eighty_Street_Capital

Here's an update on the trade that I entered last night as ETH was breaking out on the 4HR: Position Size: 10 ETH Entry: $1,589.87 TP 1: $1725 TP 2: $1750 SL: $1480 My reasoning for entering the trade is as follows: - I saw that we were going to get a Golden Cross (50 crossing above the 100SMA) - the 9 also looked like we were going to cross above the 21...

Eighty_Street_Capital

The SPX saw a juicy +1.83% bounce today after the past few weeks of downward action. Things to note: - broke back into BF channel - attempted to break 9SMA (will see if it happens tomorrow or Friday) - price action still below major SMAs which is bearish - 1st bull target still @ $4050 gap - bear targets unchanged, see chart Just as with the NDX, my LT thesis...

Eighty_Street_Capital

#NDX daily close update for Sept 7. NDX got a nice +2.07% bounce today after a couple weeks of downside activity. Things to note: - price attempting to test BF channel but failed to do so. Let's see if it does tomorrow/Friday - got a bullish cross of the 50 above the 100SMA yesterday - bull target #1 remains @ the $12.6K gap - bear targets are all the same & can...