Showing posts with label 3 push. Show all posts
Showing posts with label 3 push. Show all posts
Tuesday, September 20, 2011
FAZ end of day
FAZ long entry into the end of the day. A 3d setup; Entered on the 1st arrow (to the left) but scratched it. Entered again on the 2nd middle arrow, though a better entry may have been to wait for the 50% retrace (3rd up-arrow. Trailed stop as price tested the open and half taken off at the 100% projection. Second half taken off in the last 10-minutes.
Tuesday, October 13, 2009
chop
Another low volume choppy day today.
The SPY continues to hover at the highs (almost looks like a tri-star pattern on the daily).
Take note of the 3 most recent momentum pushes up creating a bearish divergence, while the most recent two momentum pushes down gave us a bullish hidden divergence, yada yada yada.
We'll see what we get tomorrow in terms of a momentum push, but right now the 30-min is looking a little like a Head & Shoulders pattern.
And finally today, the 1-min SPY with TICK (molestor). A couple divergences that could have been good for scalps or even intra-day swings. Nice job Richard!
The SPY continues to hover at the highs (almost looks like a tri-star pattern on the daily).
Take note of the 3 most recent momentum pushes up creating a bearish divergence, while the most recent two momentum pushes down gave us a bullish hidden divergence, yada yada yada.We'll see what we get tomorrow in terms of a momentum push, but right now the 30-min is looking a little like a Head & Shoulders pattern.
And finally today, the 1-min SPY with TICK (molestor). A couple divergences that could have been good for scalps or even intra-day swings. Nice job Richard!
Thursday, September 17, 2009
GMCR
zoom out on GMCR:
closer up with technical indicators. Lower momentum with 3 impulse pushes that haven't gotten beyond $70. Notice that between the first and the second push momentum registered a lower low, while price put in a higher low leading to a "Slingshot" in price.
That shooting star/gravestone doji type candle seems almost reason enough to watch for increased selling. The only thing that might be able to drive GMCR higher could be some sort of short-squeeze.
closer up with technical indicators. Lower momentum with 3 impulse pushes that haven't gotten beyond $70. Notice that between the first and the second push momentum registered a lower low, while price put in a higher low leading to a "Slingshot" in price.
That shooting star/gravestone doji type candle seems almost reason enough to watch for increased selling. The only thing that might be able to drive GMCR higher could be some sort of short-squeeze.
Thursday, June 25, 2009
Thurs. 06_25
We closed on the highs of the day. Today's tape gave us a 3-push impulse move. The second push giving the highest TICK distribution of the move. After the 3rd push up we just consolidated most of the day. We did get a little shake-out move late in the day on a strong negative TICK, but it looks as though we're back into "buy the dip" strategy.
Curious to see how price behaves with $92.50 tomorrow. Do we hit up against resistance and chop around that area, or just gap above it and use it as support?
Things are looking to set up for another momentum push up, just have to feel it out for how much participation we get.
Another strong day in Treasuries. At the end of the day price based at the highs. I'm thinking it might pullback and come back to base around this $94.50 level, or pop up from here.
On the daily, again, we're at a resistance level. Pop or drop time.
Curious to see how price behaves with $92.50 tomorrow. Do we hit up against resistance and chop around that area, or just gap above it and use it as support?
Things are looking to set up for another momentum push up, just have to feel it out for how much participation we get.
Another strong day in Treasuries. At the end of the day price based at the highs. I'm thinking it might pullback and come back to base around this $94.50 level, or pop up from here.
On the daily, again, we're at a resistance level. Pop or drop time.
Monday, June 15, 2009
corrected
We finally got a healthy dose of correction. SPY gapped-down below the previous day's low (also S2) and didn't even bother testing the gap.
Here's the first 2-hours on a 1-min.
The dollar rally (and resulting correction in commodities) seems to be the excuse for today's sell-off/correction.
SPY registered a most recent momentum low (going back to May 21st)
When all else was down and moving sideways, UNG was having an up day. It based around it's first impulse move up before putting two more impulse moves in (3-push).
Though price keeps pushing up in UNG the 30-min is showing a bearish momentum divergence.
As TLT double-topped today around $91 I'll look into some upside in TBT tomorrow.
Nice how AMZN, AAPL, GOOG, et.al. sit right on their 20-EMA.
Keeping with the theme of the above chart; the Q's show a healthy pullback to the 20-EMA on relatively low volume
As far as I can tell, I think the ultimate trajectory in equities will lie in the direction of the dollar/commodities. For now most things are sitting on their 20-EMA, it can go either way. Whereas SPY put in the highest close of this entire range on Friday, today it put in the lowest close of this entire range...a regular which-way-do-we-go-George scenario. 
Here's the first 2-hours on a 1-min.
The dollar rally (and resulting correction in commodities) seems to be the excuse for today's sell-off/correction.
SPY registered a most recent momentum low (going back to May 21st)
When all else was down and moving sideways, UNG was having an up day. It based around it's first impulse move up before putting two more impulse moves in (3-push).
Though price keeps pushing up in UNG the 30-min is showing a bearish momentum divergence.
As TLT double-topped today around $91 I'll look into some upside in TBT tomorrow.
Nice how AMZN, AAPL, GOOG, et.al. sit right on their 20-EMA.
Keeping with the theme of the above chart; the Q's show a healthy pullback to the 20-EMA on relatively low volume
As far as I can tell, I think the ultimate trajectory in equities will lie in the direction of the dollar/commodities. For now most things are sitting on their 20-EMA, it can go either way. Whereas SPY put in the highest close of this entire range on Friday, today it put in the lowest close of this entire range...a regular which-way-do-we-go-George scenario. 
Thursday, June 11, 2009
fresh highs...whatever
If only for a brief point in the day we made fresh highs for the year, but still remain in this pathetic range.
The morning was a continuation move from the previous late-day move, bringing us right back to where we started from on Wednesday morning. The internals were pretty mixed with Adv./Decl. slightly skewed to the bulls. TICK was mixed, but held onto a bullish bias as well. The high of the day was confirmed with a high TICK of the day, there was no follow-through however. Energy being strong right out of the gate with the dollar continuing it's weak pulse. All put to an end late in the day by the beloved margin calls.
Yup, right back in that $95.50 range
Price based around the recent highs for most of the morning before giving us an impulse move to fresh highs that just couldn't follow-through.
With the Treasuries auction scheduled for this afternoon, TLT was on the radar. Notice the 3-push impulse move. $88.30 was the previous day's level of Support/Resistance.
FCX continues to be in play. It broke out of it's day's range in the middle of the day.
Though the daily chart looks exhausted
The morning was a continuation move from the previous late-day move, bringing us right back to where we started from on Wednesday morning. The internals were pretty mixed with Adv./Decl. slightly skewed to the bulls. TICK was mixed, but held onto a bullish bias as well. The high of the day was confirmed with a high TICK of the day, there was no follow-through however. Energy being strong right out of the gate with the dollar continuing it's weak pulse. All put to an end late in the day by the beloved margin calls.
Yup, right back in that $95.50 range
Price based around the recent highs for most of the morning before giving us an impulse move to fresh highs that just couldn't follow-through.
With the Treasuries auction scheduled for this afternoon, TLT was on the radar. Notice the 3-push impulse move. $88.30 was the previous day's level of Support/Resistance.
FCX continues to be in play. It broke out of it's day's range in the middle of the day.
Though the daily chart looks exhausted
Friday, June 5, 2009
fri 06_05
Quite a messy end to the week during the last hour. We're still chopping around a consolidation level, though we did attempt to break down from it this afternoon.
Price did stay above the previous day's resistance level after testing the lows on the day. The strong (impulse) move down this afternoon gave us an example of a price vs. TICK divergence that hints towards an end of trend.
If you weren't short for the gap-fill this morning you could have taken the opportunity to go short provided by the retrace to the 20-EMA. I mentioned in a previous post a quick scalping technique that suggests shorting a return to the PDC after a gap up (long the PDC on a gap-down). This week provided two opportunities to trade that scalping method.
The numbers on the chart below refer to the concept of a strong impulse in price giving 3 pushes (mentioned in a previous post). Also notice that during the consolidation phase, after legs 1 & 2 of the impulse move, the TICK doesn't get above the zero-line (a hint at possible further downside, and a good opportunity to take a short position), while the absolute bottom of the move occurs on a double-bottom in the TICK.
Later in the afternoon, price tried to break down from its consolidation range which led to an impulse move down. In the chart below the horizontal dash-line represents a support level that coincided with the previous day's resistance level (funny how that works).
This break of support gave an impulse move down in (again) 3 pushes (I actually think I labeled this incorrectly, as I would count the first impulse move as the one that is actually labeled "2", while I would count the 2nd impulse move as that labeled "3" and finally, the 3rd push refused to go any lower, "double-bottom"). What's most important when considering these 3-push patterns is potential S/R levels. The "bottom" of this move not only coincided with the lows of the day, but also the previous day's opening range and key resistance level (today acting as support).
Notice how the TICK made it's lowest low of the day, while price stood still.
Other than that, I made a nice trade in CAH. I got an alert from the "First Cross" signal (green vertical line) and entered after looking at the higher timeframe that hinted at a possible bounce. My entry was the horizontal dash-line and my exit was based on a bearish momentum divergence on the 5-min chart (not shown).
Looking at the faster time frame, price developed a horizontal base along the 20-ema with a lot of volume coming into it. Price broke out of the highs on the day and (yet again!) gave us a 3 push impulse move up. Again, if one were to miss the first impulse move price provided a fantastic entry at the retrace to the 20-EMA. These patterns happen every day, and provide you with high probability trades.
On the daily, CAH looks like it could have some more upside potential as it corrects the lastest thrust down.
Price did stay above the previous day's resistance level after testing the lows on the day. The strong (impulse) move down this afternoon gave us an example of a price vs. TICK divergence that hints towards an end of trend.
If you weren't short for the gap-fill this morning you could have taken the opportunity to go short provided by the retrace to the 20-EMA. I mentioned in a previous post a quick scalping technique that suggests shorting a return to the PDC after a gap up (long the PDC on a gap-down). This week provided two opportunities to trade that scalping method.The numbers on the chart below refer to the concept of a strong impulse in price giving 3 pushes (mentioned in a previous post). Also notice that during the consolidation phase, after legs 1 & 2 of the impulse move, the TICK doesn't get above the zero-line (a hint at possible further downside, and a good opportunity to take a short position), while the absolute bottom of the move occurs on a double-bottom in the TICK.
Later in the afternoon, price tried to break down from its consolidation range which led to an impulse move down. In the chart below the horizontal dash-line represents a support level that coincided with the previous day's resistance level (funny how that works).
This break of support gave an impulse move down in (again) 3 pushes (I actually think I labeled this incorrectly, as I would count the first impulse move as the one that is actually labeled "2", while I would count the 2nd impulse move as that labeled "3" and finally, the 3rd push refused to go any lower, "double-bottom"). What's most important when considering these 3-push patterns is potential S/R levels. The "bottom" of this move not only coincided with the lows of the day, but also the previous day's opening range and key resistance level (today acting as support).Notice how the TICK made it's lowest low of the day, while price stood still.
Other than that, I made a nice trade in CAH. I got an alert from the "First Cross" signal (green vertical line) and entered after looking at the higher timeframe that hinted at a possible bounce. My entry was the horizontal dash-line and my exit was based on a bearish momentum divergence on the 5-min chart (not shown).
Looking at the faster time frame, price developed a horizontal base along the 20-ema with a lot of volume coming into it. Price broke out of the highs on the day and (yet again!) gave us a 3 push impulse move up. Again, if one were to miss the first impulse move price provided a fantastic entry at the retrace to the 20-EMA. These patterns happen every day, and provide you with high probability trades.
On the daily, CAH looks like it could have some more upside potential as it corrects the lastest thrust down.
Friday, May 29, 2009
shenanigans
A typical lull-you-to-sleep market all day long, than BANG! If you caught the end-of-day move today, then good for you. It's soooo frustrating to suspect it might happen only to not be on board once it does...grrrr. Price came within a nickel of the highs, a 1.7% move within 10-minutes, WTF! Of course I wouldn't complain had I been in the move :)
I digress.
popped right out of a consolidation range and sky-rocketed to the highs!
Anyway...something to keep in mind when the market is chopping around all day. Look for stocks that are trending (scan for ADX > 30, with nice, orderly candles) and find a consolidation range to jump on board. Here were two nice ones, notice the "3 pushes" up; push, consolidate, push, consolidate, push:
Well that last minute push in SPY put us right up against the 200-day Moving Average
and right at the top of our range...here's the weekly, looks solid doesn't it?
I digress.
popped right out of a consolidation range and sky-rocketed to the highs!
Anyway...something to keep in mind when the market is chopping around all day. Look for stocks that are trending (scan for ADX > 30, with nice, orderly candles) and find a consolidation range to jump on board. Here were two nice ones, notice the "3 pushes" up; push, consolidate, push, consolidate, push:
Well that last minute push in SPY put us right up against the 200-day Moving Average
and right at the top of our range...here's the weekly, looks solid doesn't it?
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