pivotaltrader

pivotaltrader Updated 

Declining volume on rising price, combined with weak momentum on macd, divergence on RSI I can see a blow off top potential spike up and then down. But now is a great time to build short position and leg in if we get a rapid spike up. Im looking for targets much lower. Look for retracement to .618 level of 12884. Elliot wave pattern ABC retracements should be...

pivotaltrader

Silver looks to me that we are in a consolidation phase for a large move higher. The rounded bottom formation is what I show in the chart. We break 30 and its free sailing towards 50 dollars. Combine this with the 1.9 trillion in stimulus and a weakening dollar and you have rocket fuel for Silver. WE need a close above the 27.80-28.00 level and were looking...

pivotaltrader

GS looks good here for a long opp for earnings. Gap fill potential at 230 level highlighted in rectangle. .786 fib 235 is my target by Friday. Could over run based on blowout earnings and test 250 level. Chart broke out of long downtrend line and we are testing that old resistance as new support. The jury is out on holding that level as support. But GS looks...

pivotaltrader

this past week you had your chance to add to your positions at .90c and even below it on a few days this past week. I see the .50 fib level at 1.24 as next target. The financing is in and there is some questions regarding dilution with the shares outstanding. I think the market will figure itself out on price and should see this stock run much higher as gold...

pivotaltrader

This week we broke out above that .90cent ceiling and tested the 1.09 level. I anticipate a retest of the .90 cent ceiling as the new floor and then we move higher. I did see a thousand lot option trade this week on the 1 dollar jan 2021 calls. They were bought/sold for .25cents. I find that interesting as the bid ask spread was higher throughout that day. I...

pivotaltrader

This is monthly chart. I wanted to look at the 50k ft view here to see the trend. I think its pretty obvious where this is going. We cleared the resistance level of .90 cents this week. I would not be surprised to see a retest of .90 as the new floor but it can just keep running higher. I am targeting 2.50 level as a major support area. There is also support...

pivotaltrader Updated 

Check out TRX, small junior mining stock that is now in production. I have position and think it could really take off here if financing is put in place and the production results exceed expectations. I see the .618 is very reasonable first target from here. Also have a small position in the 1 jan 21 calls. There are other investors who are buying calls as...

pivotaltrader Updated 

I see 5 wave impulse up on daily ES with declining volume as you will see in chart below. We can move higher but we did close right above the .618 fib level. The 5th wave can extend up higher towards the 2950-2980 level. Fed with its massive stimulus policies i guess can push this market up to .786 fib which would show a V recovery. Interesting times we...

03:28

pivotaltrader

Hi Traders, long Nat Gas @ 2.14, stop at 2.05, looking at TP @ .50 fib retracement @ 2.39 Cheers Pivotaltrader