tangman

tangman

This morning had a sharp fall in Oil price. I expect Oil's ICL drop to continue here. I missed the short from early February. Bought DRIP 14.7, hard stop 13.7. Looking for Oil to make a lower low below $60, then we'll see.

tangman

After a very deep, almost exact 78.6% fib retracement, Novo is now showing signs of bottoming. Inverse H&S pattern. MACD divergence on the daily. I highly doubt a favorite investment of Eric Sprott could crash even further than 78.6% retracement. I already bought the low and am holding a small profitable position. A breakout from the inverse H&S would be a...

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As Canada's largest cobalt miner it is undoubtedly positioned to benefit from the massive demand coming from electrification of cars & homes. In technical terms, I see a Wave 1 with 5 clear subwaves with Wave 4 testing the top of Wave 1. Then, a completed ABC correction that could be Wave 2 in this potential large wave formation. If true, a powerful Wave 3 is...

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Large 4-Year Inverse Head & Shoulders Smaller 1-Year Inverse Head & Shoulders continuation pattern Currently consolidating, current pullback is fairly light volume. I bought a small position with a stop around the 50 ma. I will add more on a bullish pullback or if it breaks out higher, for a long term hold. A trip to prior highs puts this between $55 and $62....

tangman

In January I got pretty burned out trying to trade Vechain. I made an incorrect call that VENETH would not drop below 0.0054. In addition, I made no effort to sidestep the drop in Bitcoin by going to Tether or something. In order to stop trading losses, I stopped trading and just held VEN, because I strongly believe in its fundamentals. Looking back and...

tangman

This one was an insane firecracker during the Nov/Dec run up in crypto. It ran up about 1000%, it was insanely hard to ride with it up 30% multiple days in a row. Whenever a chart corrects back to a "past high", that is suggestive of a Wave 4 correction that reaches to the limit of the prior Wave 1 peak. One possibility is that a Wave 5 rally is to yet to...

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RIOT's bounce off support lends toward interpreting the latest decline as an Elliot Wave 4. That's because one of the rules is that Wave 4 does not decline past Wave 1's peak. If we zoomed in, Wave (v) of 3 in this chart also has 5 clean subwaves, with 4 testing the top of 1. Elliot Wave could be accurately mapping the emotions behind traders on this...

tangman

Seeing bullish MACD divergences on the hourly charts, I believe this first decline is nearly over. On the daily it shows a fairly clean 5 waves down. I believe there needs to be a 1 or 2 week hope rally before there can be further downside. That said, I am slightly long SOXL for a short and convincing ride.

tangman

In the past, the CCI has pointed to strong rallies in silver. It is doing so again. With respect to this indicator, silver is more bullish than gold. It is oversold, but it CAN get more oversold. The safest trade would be to wait until a swing low and place a stop under. However I am already partially invested and holding quite a few bags here. I'm...

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The last couple of days I SWORE to take longer term, higher probability trades with better risk management). That said, being a compulsive gambler, I traded the morning weakness via UVXY for a quick profit from 22.29 to 24.38. I feel slightly ashamed, but also $700 less poor. My outlook for stocks is that they are in a corrective wave that is about halfway...

tangman

CLF is an iron ore producer which services US Steel production. If Trump gets his infrastructure spending, or defense budget increase, steel utilization should remain strong. The year-long correction and consolidation looks like an Elliot Wave 2, and offers compelling a support level. As of right now it is being rejected by the 50 and 200 ma, so it is still...

tangman

This high consolidation is strong. NEO is a very compelling dapp platform. Using Elliot Wave, it seems to have completed a double combo flat corrective wave. It could continue to consolidate (make a triple), or fail (like ICX), or whatever the hell it wants. But a breakout should be bought. Currently long but not really interested in trading. I may even...

tangman

That buy volume is the biggest it's ever seen in a short time frame, and we are at a strong price support. Plus, the media and SEC hearing are really legitimizing cryptocurrency and blockchain. People are getting interested. Bitcoin needs to put in a convincing rally before it can go lower. Even as a bull trap, it can do this and still remain bearish long...

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ZClassic, before the correction, was an explosive crypto. Still is, potentially. The wild markets have taught me I need to up my game. I spent some time learning Elliot Wave and will continue to learn. Utilizing Elliot Wave, it could be nearing the end of its high consolidation, and will proceed to an ending wave 5 rally soon. After that, it could put in some...

tangman

A Canadian Cobalt miner. Cobalt is a major component of lithium batteries, and the world wants to electrify. A small position could be started here with a stop under the 200ma.

tangman

A yearlong consolidation (similar to precious metals complex) provides compelling support to this chart. It is also not a "precious" metal which is under heavy manipulation. The last few days, it is down with the entire market, so this dip may not be reflective to the cobalt industry or company's health. This would be a long term play (over a year or more)...

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So, admittedly, my last bottoming call was early. Not like I expected to be any good at this. This long horizontal range has allowed bulls to quietly accumulate. They would love for it to continue, or drop lower, but other bulls are starting to show up. It is well oversold and in a support range. CCK is stirring the rumors. I'm gonna make "a call" here. ...

tangman Updated 

This crypto has been strong since the new year. The chart speaks for itself, looking like it wants to make new highs against BTC. If it breaks out of this ascending triangle, it could run.