With UWTI currently trading at 7.55 in pre-market, an opening gap above both R1 & R2 is likely. If so, that will also trigger the bullish cross on the 13/33-ema that I was looking for. Therefore, unless this pre-market rally in crude is faded after the open, the odds for a move up to at least the 8.15 levels will increase substantially today.
Long Setups are stocks or ETFs that are in a bullish technical pattern formation that are poised to break-out and provide an objective long entry. This category may also include stocks that have already triggered a entry but still offer an objective entry or add-on, such as a during a pullback to support.
Following the expected reaction of the top of the T1 zone, GDX is now approaching the bottom of yesterday’s gap, which was one of the likely pullback targets posted yesterday. While that is the most likely end-point for a pullback, the former R1 (now S1) [continue reading…]
The top of the T1 zone on the NUGT/GDX trade has been hit, providing a 20% gain on NUGT in under 1 full trading session. As the odds of a reaction off this level are quite elevated, consider booking partial or full profits and/or raising [continue reading…]
UWTI could run up to the 8.15 level & quite possible the 9.55 area, should my call for a drop in the $USD continue to play out. Such a move would provide gains of about 20% & 40%+ from current levels. I’ve just taken a [continue reading…]
The NUGT/GDX long trade has hit the bottom of the first target zone for about a 16% gain in about 2-hours of trading session time. Consider booking partial or full profits and/or raising your stops, according to your trading plan. While a reaction here is [continue reading…]
The EUR/USD broke out overnight, which should translate to a correction in the $USD in the coming days/weeks should this breakout stick. This 2-hour period chart shown an alternative view of the EUR/USD shown as a bullish falling wedge (using the same downtrend line as [continue reading…]
NUGT (3x long gold miners ETF) will be added as an AGGRESSIVE long trade here in anticipation of a breakout in GDX above the falling wedge pattern & the 13.34ish resistance level as well as a breakdown the $USD (see EUR/USD 4-hour chart). Current price [continue reading…]