📉 Head & Shoulders Pattern on /ZN | Chart Breakdown... Bonds going higher is signaling to traders that interest rates will come down #chartpatterns #bonds #technicalanalysis
This hourly chart of the SPY shows that we're in a range intraday which would be the 4th wave according to my analysis and I'm thinking that at some point soon the market breakout to the downside. I have a Put Spread on to trade my bias. I'm long the 381Put and short the 379Put with 3 FEB 23 expiration.
Today $MSFT finished down over 4% on the session making a lower low and making a Bear flag while breaking out to the downside. Short options are all in play with an elevated IVR of 90.
On 08 Dec 21 $AMD retraced to .382 on the Fib Ret and then made a lower low. Fib Ext level of 100% has a price near $117 and that's where I expect $AMD to continue to fall before we see a meaningful bounce.
At the completion of the AB=CD Harmonic Pattern I believe the down move will resume. The completion of a Head & Shoulders pattern should signal major down move in the market.
Hammer Candlestick giving off a Bullish signal to go along with Divergence on the RSI. I bought a Bull Call Spread with 42 days to expiration. You don't need a large move to make money on this move. I bought the 325C and sold the 330C for $2.38
I found this descending triangle on AUDUSD and on /6A futures on the 4hr chart. I'm short on the /M6 Micro Futures. This pattern appears on all charts which reflect the Aussie. You can play the break of the trendline or get short now and place stop at top of pole. I use Fib Ext to take profits.
$UAL had a MACD Bullish cross to go along with an EMA cross of the 20 and 50 day coming off a big green candle the day before. That's enough confluence for me to get long with a long debit
call spread. I even got some positive Theta with this trade at the time the trade was placed.
$MMM Has gapped down off of earnings and is trending down. It pulled back intraday to the .382 Fib Retracement level and stalled today at the .618 Fib Extension. Looking to get one more push to the downside at least to complete AB=CD pattern. It could push further though.
Bears making a move on $CRWD with Divergence at the highs from the RSI indicator. Friday's price action took out a previous low giving me the confidence to short this stock.
$WFC bounced off of lows and made what seems to be a Bull flag. I put a Fib ext on it to get long with a target of $28. I bought the $27 call options with 29 DTE and will look to take profits once my calls go ITM. If you want you could sell puts but it has a low IV percentile relative to Implied Volatility so might be better to buy premium or purchase the shares...
I found what I think might be a nice Head & Shoulder pattern in $BYND. I'd like to see price action break below $125 to get short and possibly look to take profit at $110. If you look left of the $110 price level you'll see where price gapped up. We might get a possible gap fill.
$TWTR has formed a pattern on the RSI with bullish momentum. I like the fact that it found support on the moving average and reacted to it with a bounce. I threw the Fib Ext on it to see how far it can go. I expect it to fill the gap at $38 before we see resistance. I'm be watching it when the market opens on Monday to see how I can get long... Either with...
The SPY has been trading in a range and is beginning to breakout out of the range. I'm using the Fibonacci Extension too to tag possible profit zones. I'm long the SPY with a 1/2/1 323/328/331 Broken Wing Butterfly 21Aug20 expiration. I paid a $1.36 debit for it.
