The momentum indicators continue to lag behind gold prices as GLD (gold ETF) pushes higher within this 60-minute bearish rising wedge pattern. GLD 60-min Jan 16th The recent breakout in EUR/USD has occurred with potential divergences forming on the PPO & RSI which increases the chances that this breakout might soon fail, sending [...]
Member @murphydoc inquired as to whether or not the new cannabis stock etf, MJX (ETFMG Alternative Harvest ETF), looked like a buy at current levels. At first glance of the chart, I immediately noted some fairly well-defined support & resistance levels as well as potential negative divergences building between prices & the momentum indicators on [...]
Member @dazi requested an update on gold & the precious metals mining stocks. My recent outlook for gold has been largest based off my analysis & bearish outlook for the EUR/USD (Euro/U.S. Dollar forex pair). Since the last update, EUR/USD reversed exactly off the bottom of my bounce target zone while not coincidentally, gold futures [...]
Those that viewed the XLP Consumer Staples video earlier today would have noticed a price alert that popped up on my screen while recording that video. The alert was triggered on a breakdown below the primary uptrend line/bearish rising wedge pattern on INGN (Inogen Inc), which was covered as a short trade setup in the [...]
My family and I returned home to Fort Myers yesterday. I was unable to post any updates until now. Power is still out and maybe for quite some time although I'm hoping to have my internet access restored soon. If so I'll be able to work off generator power or at least tether off my [...]
Just a heads up that front page posts & trading room commentary/replies will be on the light side over the next several days. I will be preoccupied with making last minute preparations for Hurricane Irma as the storm approaches S. Florida. Hopefully it will be back to business as usual next week with any power [...]
The following notes & chart outline the entry criterion, price targets, suggested stop & beta-adjustment to the position size for a swing trade on CIE, Cobalt International Energy Inc.