IngenuityTrading

IngenuityTrading

The stock has been in a range since August but earnings could be a catalyst for a further move higher

IngenuityTrading

The trend is lower so I am going to assume the move to the downside will continue but I am going to use the downtrend line as a guide over the coming weeks. Below the range and trendline = bearish. Reversal back into the range and above the trendline = bullish

IngenuityTrading

aud/nzd has had a great run but if it breaks this uptrend line within the next week or 2 there could be a short term reversal back into the range

IngenuityTrading

As we break through the range lows we will either have continuation to the downside or a reversal back higher into the range. Range highs and lows are the most important action areas and offer the best risk reward setups

IngenuityTrading Updated 

If price can clear the downtrend line as well as hold the lows of yesterday (126.50) then we could see a bounce at least for a day. Ideal target would be 127 but lets see how it plays out.

IngenuityTrading

The Chart: Price has fully reversed from the bottom of the large range (rectangle) and has now broken out of the top end of the range. Despite todays rough down day I am comfortable with my position as long as price can hold above the 59 area. The Narrative: Banks are taking a bit hit on earnings but the quarterly results we not as bad as the price drop may...

IngenuityTrading

The Chart: price has entered back into the weekly range into the near term support area. As long as price stays above 0.7080 the trend is still to the upside. Below that level the low end of the range (0.7000) will be in play. The Narrative: The stimulus plan has been outlined and recent inflation numbers and retail sales have been announced. The short dollar...

IngenuityTrading Updated 

After the huge run in the Russell I am using the index futures to hedge against long equity exposure in the portfolio. I am not bearish on the market on an intermediate term (weekly) basis but in the short term I think its a prudent time to protect against any potential volatility spike or profit taking in the market especially going into a long weekend. My stop...

IngenuityTrading

The Chart: If price can break this down trendline I am looking for the stock to move higher back into the range. Looking for the opposite of the downward reversal back on December 8. The Narrative: Despite the reopening online sales will continue to grow. Although Amazon is increasing becoming a competitor, the shipping market is largely a duopoly and as the...

IngenuityTrading

The chart: Ethereum broke the down trendline in the support area I posted about earlier and as long as it stays above 1050 the trend is still to the upside. The Narrative: The crypto space is continue to grow in demand even potentially from bigger financial institutions. There will always be enormous volatility but as long as the demand out paces the supply and...

IngenuityTrading

I was wrong about natural gas last week but I am taking another shot here with a stop above 2.900. Maybe this time it will reverse.

IngenuityTrading

BABA hurt me on that huge gap down but I am willing to take another shot here with a stop below 210. If this trendline break marks the bottom, the stock could head back to the 280 area. FXI has been strong and KWEB so the stock may have some tailwinds. Not sure about the Jack Ma situation but it might not matter.

IngenuityTrading

My attempted reversal trade in the usd/cad has gone against me and is nearing my stop. On any close below 1.2625 I will be out of this position. I was confident that the rate of change move and the big bounce early in the week had the makings of a larger trade to the upside but so far now luck. Part of me wants to reverse from long to short on the breakdown but I...

IngenuityTrading

This recent move in GME has be extraordinary to say the least but what matters now is when to temporarily put the controller down and take a break. On a short term basis I am watching the regression channel from the past two days. While we remain in the channel the game is still on but below the channel means its time to rest your fingers

IngenuityTrading

eur/usd has fully reversed down to the bottom of he range (rectangle) so the trade has worked out so far but the questions is what to do next. I am watching the downward regression line. As long as we stay below the downtrend line then I will hold the short position. Hopefully the monthly rate of change continues downward as we break below the low of the range....

IngenuityTrading

After my buy call (reversal trade) on January 11 WISH has exploded higher and is now sitting at the top end of its IPO range. Given its success over the past 3 days I think its prudent to know when and where to at least take partial profits. If this breakout past IPO highs holds that would be fantastic but we have to see how the stock closes today. The level I am...

IngenuityTrading

Selling copper here with a stop at 3.7500. After the failed breakout attempt last week I think the metal could reverse lower toward the bottom of the range- 3.4780. Inflation is certainty a topic that is widely discussed and copper has been a big part of the story, but in the near term the rate of change (22 days) has slowed and it is still below the most recent...

IngenuityTrading

On the break of this trendline eur/cad could continue down to the low end of the range (large rectangle). As long as it remains below the down trendline, I think it will eventually get to 1.5300 and maybe beyond. Rate of change breaking down would also be a sign the lower prices could be on their way