revers h and s fib out the right shoulder 280 ticks in the bag. exit door at the 4.26 shop pull and the diverged 3 sisters trip. top cheers, s
Casino stocks have come a long way - which means they could have a long way to fall when they break. China is the growth engine driving this group, and econ. reports out of China have been anything but encouraging... If we enter a full-blown "risk off" period, WYNN LVS and MGM will be prime short candidates
Head and shoulders type formation in SLV... violent high volume breakdown across entire PM complex on Feb 29th... bearish macro prospects for PMs on prospect of "risk off" retail liquidity rinse / portfolio contagion dump + flight to safety USD strength in hostile environment... clear break below clustered 50, 100, 200 day EMAs... 3/19 last day of countertrend retest, 3/20 resumption of downward momentum. It's our standard practice to combine technical precision (price action validation) with fundamental backdrop / macro awareness for targeted entries on both trend and swing trades. Similar process for buying VXX breakout on 05/14.
Surprising that a 3.4% rise in existing home sales wasn't enough to give LOW at least a little bounce Tuesday... Don't look for much support until we approach the $20 / $21 area.
Aussie Aussie Oi Oi! (I just love this freakin' chart... and Oz too... Sydney Harbor and the Great Barrier Reef are amazing / must see)
GREAT CHARTS!! I am a firm believer daytrading is a very bad idea for most but trading dailies and weeklies are a much better bet... I do trade the AU a lot but still find it hard to hold over a day... (spend too much time around short-term scalper traders) getting better hopefully... My idea has been to TRY to sell a portion and keep a runner that must be allowed to become a scratch if the big run does not materialize.. Do you consider every trade potentially can become a great run? i.e... always keep a runner.. or are you all-in-all-out? I am guessing the large pattern typically improves the odds of a good run.