IngenuityTrading

IngenuityTrading

The beauty of swing trading (especially with a rules based strategy) is the potential for great risk reward ratios over long periods. Now obviously risk/reward ratios can be applied to any time frame but swing trading allows you to capture much larger gains over a set time period and are easier to manage. Let me use this trade taken back on October 21 as an...

IngenuityTrading

Back on October 27th I made a post highlighting a potential reversal as we approached the range lows from back in June. Over the future months the stock tested the lows, found support, and is not heading toward highs. Range highs and lows and major support and resistance areas have value because they indicate where there is likely to be heavy order flow. In this...

IngenuityTrading

Buying here with a stop at 187.00 looking for 210 hopefully. VRSK has had a pull back so far this month but the macro trend remains positive.

IngenuityTrading

As long as price remains above 30,000 - 27,700 pivot area the trend for me is still bullish. Bitcoin has definitely been in a range/consolidation phase for the past couple of weeks which is healthy based on the huge rally it had in the month of December and early in the year. Rate of change has slowed but remains positive. Let me know what you think

IngenuityTrading

Atlassian has been a great performer over the past year and that trend might continue into 2021. Going long with a stop at 219 looking all time highs is a decent risk/reward opportunity. Earnings could be a catalyst as well.

IngenuityTrading

As long as gold remains below 1920 I am still a seller. After gold broke down below the range the trend for me remains bearish. Despite this up move price still hasn't retraced even 50% of the most recent down move. On top of that monthly rate of change is still negative. Let me know what you think

IngenuityTrading

TDOC has gone from a range reversal trade to a potential breakout. I am very happy holding for now but I am watching how price reacts to the top end of the range. As long as price can hold above 220 the trend is still positive even if there is a little profit taking to come.

IngenuityTrading

USD/MXN has been in a range since early December but I think its getting ready to breakout to the downside. As long as price stays below 20.0000, I could see a move all the way down to 18.5000 near the pre covid lows. I think the FED has been clear about its policy and any reflation should positive for the peso. The move in crude oil should also be a tailwind.

IngenuityTrading

Cloudera has been consolidating near range highs and could be a breakout candidate. If the stock can hold above the 12.39 area over the coming weeks, the next move might be 16.

IngenuityTrading

Although the recent action has been choppy the trend is still to the upside. Support zone 140-115 has held and until it breaks below I think we can expect higher prices. Ethereum strength has been encouraging so maybe litecoin can join in the advance.

IngenuityTrading

Decent risk/reward play to the upside. Trendline break + rate of change divergence. No opinions on the euro fundamentally but I feel like the CHF is overvalued in a post vaccine world. That opinion means nothing for this trade other than the potential for a move even beyond the high end of the range (rectangle) if the trade ends up working

IngenuityTrading

So the reversal trade back toward the bottom of the range worked out well. Now I am watching the recently broken downtrend line and the down regression line. If we can clear both then I will close out the remaining short position and flip to long for a reversal trade in the opposite direction. Not sure how things will shake out, but this might end up be a great...

IngenuityTrading

Google held the range high support area and is bouncing strong today. If 1700 holds the stock could be headed to all-time highs. Google can face regulatory pressure but no where near the amount Facebook potentially will. The company also has many more levers to pull and in the worst case a breakout could actually be positive for the stock.

IngenuityTrading

As wynn retests the range high support zone, I am looking for a further breakout toward the 120 area. As long as 100 holds the trend still appears to be bullish. Obviously the digitization of gaming is a huge secular shift but it doesn't mean that the incumbents like wynn wont prosper in the new environment. And I cant speak for anyone else but a weekend at a wynn...

IngenuityTrading

I am definitely not trying to Zoom post the COVID vaccine but what I am trying to do or how I feel means nothing to the market.

IngenuityTrading

Trend is bearish unless price can clear resistance at 126.32

IngenuityTrading

The stocks run has been incredible after the range breakout. I don't have a fundamentally bearish view of the company but a pause seems imminent especially if the rate of change has peaked.

IngenuityTrading

AMD has broken down back into the broader range and is showing relative weakness. If we can get above Fridays close we could see a move back toward the high end of the range and a breakout but if the near term resistance holds we will see a move down. Earnings will definitely be a factor but are still a couple of weeks out.