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NGM23: Raised stop up to $2.02, $2.10 target.
7:26 Out GCM23 @ $2016, target hit from $2007.
22:54 Long NGM23 2.029...stop 2.00
$2007 Avg., $1995 stop.
22:30 In GCM23 @ $2008.70 Avg., Stop $2004.50; Target $2016.
ULTA Puts
A case study in the criticality of MTF confluence. Starting with the weekly then working down.
First on the weekly: a bearish RAMBO quintet 1/20 to 2/24, heavy pockets of long chasing activity.
On the daily: over a baker's dozen of bearish RAMBOs for 3 months from 11/23/22 to 2/23/23.
Short signals on the 31 Tick:
1) blowing right through the bullish RAMBO (Yellow bar with "R" below) was a very bearish tell 4/4.
2) Immediate pro (blue bars) dumping right after the bell 4/5 then made it immediately obvious the flush was on.
KOLD Daily:
This gives me hope BOIL will finally turn around soon.
a pair of bearish RAMBO hat tricks from 1/25 to 2/1. But it's technically over the $82.81 high of the last RAMBO, which is bullish but $82.81 is a key pivot.
The last buy alert under $20 9/27/22 was a sweet one. Missed it unfortunately.
KOLD Daily:
This gives me hope BOIL will finally turn around soon.
a pair of bearish RAMBO hat tricks from 1/25 to 2/1. But it's technically over the $82.81 high of the last RAMBO, which is bullish but $82.81 is a key pivot.
The last buy alert under $20 9/27/22 was a sweet one. Missed it unfortunately.
ROKU Power Hour Calls Double:
Pros were loading right after the opening bell 4/6. Just 41 minutes after open the pro accumulation under $62 triggered the buy alert noted by the vertical line, the beautiful 4th indi Barry created a couple years ago, I can literally thank it for enabling surgical entries and exits.
I primarily played the power hour calls on the pullback to the 50 ema (green line) for a sweet calls double to close out the short week.
There was one more for a sweet hat trick: CDLX
The 4/5 3 yellow consecutive yellow bars with "R" below show retail short chasers were starting to take the reins in the price action then when they pushed it under 5 there was a vicious bear trap waiting for them. All 8 yellow bars with "R" below were strong warnings that shorts were in the wrong place at the wrong time. Sure enough, the following day they got their faces ripped off.
I played this proven set up with CDLX $5 4/21 calls @ .45 and scaled out the last of them the following day when the exhaustion price pattern (green dot) printed well over $1.00.
That's an ideal best trade, not the norm obviously. My goal is executing trades of that caliber each and every time though.
Happy Easter, Passover, Ramadan, or just day off to everyone in this very special community.
Happy Easter, Passover, Ramadan, or just day off to everyone in this very special community.
Happy Holidays to all, Easter, Passover, Ramadan, or just a day off!
My OCD requires me to clarify I meant board, not thread, you all knew that but it's just it an itch that had to be scratched!
A case study in how I use my signals to trade weekly options:
A trade last week in CDLX:
First of I love posting charts on this thread because regardless if you guys use Barry's indis or not, you all know what's what if you will, so I don't need to explain as if I'm talking about it for the first time, that obviously makes things a lot easier for me to explain so Thank You all for that!
The 4/5 3 yellow consecutive yellow bars with "R" below show retail short chasers were starting to take the reins in the price action then when they pushed it under 5 there was a vicious bear trap waiting for them. All 8 yellow bars with "R" below were strong warnings that shorts were in the wrong place at the wrong time. Sure enough, the following day they got their faces ripped off.
I played this proven set up with CDLX $5 4/21 calls @ .45 and scaled out the last of them the following day when the exhaustion price pattern (green dot) printed well over $1.00.
That's an ideal best trade, not the norm obviously. My goal is executing trades of that caliber each and every time though.
SPY 65K Tick:
It would be very easy for me to say, those blue bars showing the activity of institutions and algos in a short-term top 3/31 to 4/4 mean bulls are screwed. But that's just lazy technical analysis because the big picture shows we're looking at one giant flag since at least January. So the aformentioned most recent batch of blue bars are likely the base of a smaller bull flag within the larger one.
The 4/5 & 4/6 double tap then bounce off the 30 ema (red line) is strong supporting evidence for the above bull thesis. The next step is the clearance and hold of the 4/4 intra-day high about $412.
That is nice. The more different systems that confirm mine the better and vice versa for everyone else also! MANY MANY MANY Thanks for sharing that!!!
SPY 65K Tick
Most relevant are the blue bars (institutions and algos) in the short-term top 3/31 to 4/4.
My gut tells me this is bullish and those blue bars are the anchor of a smaller bull flag within a much bigger one. The double tap then bounce off the 30 ema (red line) is a good start but it needs to clear the supply zone over the 4/4 intra-day high at around $412 for me to be convinced this is bullish.
I always knew you were one :)
Several areas of note the last month on NASDAQ Futures 65K Tick:
1) Pro (institutions & algos shown by blue bars) profit-taking in the short-term top 3/6
2) Retail shorts (yellow bar with "R" below) getting wrong-footed on the heels of the banking crisis 3/13
3) Pro profit-taking 3/31
4) Heavy pro dip buying 4/6
Several areas of note the last month on NASDAQ Futures 65K Tick:
1) Pro (institutions & algos shown by blue bars) profit-taking in the short-term top 3/6
2) Retail shorts (yellow bar with "R" below) getting wrong-footed on the heels of the banking crisis 3/13
3) Pro profit-taking 3/31
4) Heavy pro dip buying 4/6