IngenuityTrading

IngenuityTrading

Like most crypto currencies Ethereum has been on a tear. I haven't participated in the rally but I have my eye out on some key levels that will determine my next trade. Each green rectangle is likely a support zone. If Ethereum ever corrects those are the area I am interested but will be waiting to see how price and rate of change behave before I pull the trigger.

IngenuityTrading

After the aud/usd breakout from the range (rectangle) in early December the stock has been trending upward in a channel steadily. For now the trend is definitely still to the upside but I am waiting to see if the channel breaks to the downside and through the near term support pivot at 0.7642 in the coming week. If we get a break to the downside then we may test...

IngenuityTrading

I did a post outlining my perspective on gold earlier this week but todays price action has changed the game. Gold started of the week on a positive note holding above the weekly range around 1910 (rectangle) but within the past couple of days it has sold off and now looks to be breakout out on the downside. The monthly rate of change has now also turned negative....

IngenuityTrading

Snowflake has been a widely discussed stock over the past couple of months due to its huge move right before and after coming public. The stock has given up a lot since the highs of November and has entered into the larger range from the highs and lows of September. I am going to take a shot a buy here/ within the green rectangle with a stop below $266. I am...

IngenuityTrading

Nio powered through the high end of the range today and there is a potential breakout opportunity setting up. As long as we get a close above the range high (top end of rectangle) and the stock can hold above the $49 area (smaller green rectangle) in the coming days and weeks then the trend is still to the upside.

IngenuityTrading Updated 

#russell2000 Real-Time Algorithmic Trading Signals. Stay curious

IngenuityTrading

EUR/USD has been a strong performer in recent months but there could be potential short term play to the downside. As we break through the trendline and enter back into the range I am going to sell here with a stop above yesterdays high (1.2350). If there is any us dollar strength we could see 1.2100. Tomorrows economic new might be a catalyst but we will have to...

IngenuityTrading Updated 

Our short earlier is already a loser since the market bounced this morning but listening the model when its time to hedge against all our long equity exposure is a necessary to preserve gains in the long term. It may seem obvious that we would bounce today but unless you have a crystal ball I don't think you can believe that you knew. Today could have easily been...

IngenuityTrading

Bitcoin has been a great breakout trade back in mid December and now I am watching to determine the levels to take profits at least partially. Eventually it will have a pull back and like in times past, that pull back might be hard and fast. Todays low is a good pivot area to watch. Any close below todays low would be a good time to take some profits (at least...

IngenuityTrading

Tcom has a great reversal setup unfolding. A buy here with a stop below 31.19 looking for a play back to the range (rectangle) high and then hopefully toward 37. Recent absolute rate of change has been choppy but there was strong momentum November into December so hopefully the speed to the upside will continue. There could be great breakout potential here if this...

IngenuityTrading

Chainlink has lagged some of the other names in the space but it could be next to see highs. Given yesterday breakout above the smaller weekly range/rectangle price might be headed toward 20. The breakout trade buy range is here or lower- green rectangle. The stop is 14 area below todays low.

IngenuityTrading

On days when the market and my overall portfolio is doing well I cant help but concentrate on the losers. I guess that's the trader in me upset that everything isn't working. My mid range play has been beyond bad. Because the position is small and the stock is volatile I have a wide stop at the lows back in November at $113. As we approach the low end of the range...

IngenuityTrading

Google has been dancing around the range high (1725 of rectangle) for 2 months now. Most of FAANG has underperformed recently. The reflation trade has begin to show real signs of life and tech has seemed to be where people are leaving. The question is how to trade the next move? At range highs and lows is where I like to make decisions because they are defined...

IngenuityTrading

Facebook has been a holding in the portfolio since late November but has been a slow moving loser. The low end of the weekly range (rectangle low 264) was tested today but price responded well. I have been looking for all-time highs but its recent performance has given me doubts. For now we just sit and wait. The company is definitely not getting the love it once...

IngenuityTrading

Taking a on a range breakout play to the downside. Stop above the high of the day. Hopefully we have some acceleration to the downside

IngenuityTrading

After todays close the trend is bearish. If you wanted to sell you could use 1.2798 (green line) as your stop. That same green line would also be a buy entry for a reversal back toward the the high end of the range. At range highs or lows daily, weekly, or monthly are pivot areas that provide great risk reward opportunities to either play breakouts, reversals, or...

IngenuityTrading

This is one example of how the breakout aspect of my strategy works. We had a weekly close above the monthly range (rectangle) and have now drifted back into the range. Despite the recent selling, the stock remains above the weekly low pivot at 311 meaning my bias is to the upside. If the stock can turn upward with some positive rate of change, it would be a...

IngenuityTrading

Gold has been a great performer to start the week and is nearing a monthly range high set back in November. I wish I had caught this breakout but now we wait and watch. I want to see how price reacts to the range high before I make any moves. Rate have change has been strong so there is potential for continuation but I dont want to chase price before it reacts to...