Still a range bound Market. But a healthy one with defined supply and demand zones. I am net long, since last week.
#Fibs at work! Remember, it's favorable to short at resistance (red lines) and long at support(green lines) $SPY #rdt #reddeviltrades
ES Bull flag on daily .. We can play both long and short based on setup!
Trade idea on $NQ for a long and short setup. Bull flag and breach of TLs.
Breaking upwards of 3965-3970 with good volume, should indicate an long entry. #NoTradesYet but ... The consolidation is "interesting".. to say the least .. #PaytiencePays #RDT #RedDevilTrades #RedDevilCharts
COST is primed for a move out of Pennant. Wait for break of Pennat to determine direction. It’s lost the 9ema on weekly. A slight bearish bias #RedDevilTrades #RDT
TSLA wait for the break of pennant. #Paytience #BigMonetMoves #RedDevilTrades #TSLA
Trend break to the upside !! LFG !!! #NoBiasTrades #RedDevilTrades
Watch out for the break of the pennant either side. That's how big money is made. Payyytience ! #NoBiasTrades #RedDevilTrades
GDP numbers could be the catalyst for a significant VXX move.
Double bottom break on daily will take the price to 87. Opened a long position with stocks in addition to my swing trading calls! Chart symmetry is an integral part of Technical Analysis!
Long over 20(200MA on daily).. - Broadening formation - RSI oversold - bounce of TL support - PT1 23.18 - PT2 28.11 - PT3 30.45
SPY is at Trendline support here! But there is also a bearish wedge forming ! If the price breaks the wedge to downside.. What's the trade here ? #RedDevilTrades - Short SPY if 380-379 support breaks - Cover 25% at 368-369 zone - Cover 50% at 356-358 zone - Cover rest at 328-330 zone. For the market's sake & our 401Ks let's hope it doesn't come to 330. But...
Here are the levels I'm watching for a relied rally on SPY. For any true reversal we need to close over 385 with volume. #RedDevilCharts
This will be a long swing trade for me. Lumber is in good demand too :)
$BCC showed good relative strength on a red day yesterday. Have this one on your WL today !
Excited to be testing out a new trading system called PowerX from Markus Heitkoetter. The indicator is available free on TradingView. Give it a whirl, if you are curious.