QuickTrade Idea n 237 : XI am Bullish above $25.34 with target at $25.75
I am Bearish below $24.19 with target at $23.71
UUUNITED STATES STEEL DL 1
46.905EURD
+0.750+1.62%
As of today at 08:27 GMT
EUR
No trades
USX1 trade ideas
X Bearish inclined naked calls 18 Nov
Whats The Plan/Trade/Thought
With the housing market facing headwinds with rising mortgage rates soaring past 7% (The highest since 2002). Housing should expect a cooldown as it is tied directly to the rising Fed interest rates.
Risk Mitigation
While there is an S&R line at 22.3, if price hits 24 it would point to me being wrong on the direction short term
Can You Trade The Opposite Side (Y/N)
N
Trade Specs
Sold 156 Calls @ 0.17
Strike 26.5
23% to Strike
BP Used: 32k
Max Gain: 2652
$X - Monthly Candle breakoutIn March 2003, X was $10/share roughly. It then went to $190+ over the next 5 years before topping June 2008. I think we are in a multi-year cycle similar to that. You will look back on these prices in many of these materials, metals, energy, and other stocks and wished you had gotten in. However, even though the idea of a new commodity super cycle is fascinating and wonderful, it also will put massive strain on the economy and people's pocket books. It could be what leads us into a recession in 2024. Guess we have to be careful what we wish for. GLL!
This is not a recommendation to buy or sell. It is for informational purposes only.
X/USDT Monthly Diamond InceptionSo previously we went up from a "Kite Diamond" that I put in blue, later... due to trendlines the pattern is even bigger than before, its potential resets now and we have a massive triangle to potentially mature into and when we pop I gave it new options. Why simply not the original shorter lengths of my rectangular measurements? Well, I added both because as a pattern grows bigger it's "structural relevancy" also increases so it's a possibility it may want to copy the volume well from a smoother perspective we don't have on the monthly. A higher timeframe perspective if you will. I don't have PRO but I can imagine at the very least.
X a decent value stock for a Swing LONGNYSE:X
X has low volatility as a value stock- it has been in a gradual uptrend
with increaing relative volume including spikes the past few days
even during a general market selloff.
I see it as a potential swing long trade now setup for a relatively low
risk trade.\
Education - 5 Simple Rules for Trading Excellence Good Day - hope everyone is good, and enjoying the opportunities currently being presented by the Market.
Aim of the post above, is to highlight simple principles that can propel Retail Investor chances of success, to the next level.
The next level meaning - mental equilibrium, excellent R/R opportunities and the ability to execute opportunities flawlessly.
In this 'game of trades', where Banks & Financial Institutions nourish themselves with the excess liquidity that sub-par Retail Traders enthusiastically provide the when they enter trades poorly (either timing or opportunities), it often comes down to a 'mental game' and excellent rules to follow.
Please share what you think about the 5 rules, above - and take the opportunity to ask me any burning trading-related questions on your mind!
Keep executing flawlessly.
Best,
Figuring Out Finance
X, Textbook LSFB short-sale X, textbook LSFB short-sale case study from the 2022 bear market. Note that $X's PE was 2 (yes, TWO) as it busted the 20-dma in late April, now its PE is 1. Don't let low PEs fool you - they in fact reflect a severe lack of demand for the company's forward earnings stream.
United States Steel Corporation - LongThe daily chart of X (United States Steel Corporation) shows a clear five-wave decline coming to an end. While we might see a small decline still, we recommend going long here as this will be followed by a three-wave correction that could take prices back towards 25/28$.
$X : Is Steel Ready For a Fall or Breakup?It appears Steel has reached an area of overhead resistance and at a quick glance one may assume it's ready for a break after temporary sector distortions due to covid and supply issues that plagued many sectors. We also know there are pressures from "cost inflation" as well that plague mines, as well as builders but it seems too early to tell if price will turn around and head down, fairly, quickly, or will these pressures in supply force prices upward.
It's also been suggested there is enough supply overhead despite, "sheet mills in North America relying heavily on the low phosphorus pig iron from Ukraine and Russia", according to industry publication the Steel Market Update. Russia and Ukraine’s pig iron supplies account for 60% of US imports.
Prices for steel have been falling since the fourth quarter of last year as supply exceeded demand, according to Axel Eggert from the European Steel Association. If supply exceeds demand, it's a no-brainer, however, there's this below:
“Ongoing supply chain disruptions, skyrocketing energy and carbon prices, as well as persisting inflation are putting the recovery of the steel sector at risk. Combined with the current EU climate and energy policies, these are the ingredients of a dangerous cocktail that may drive Europe into a structural crisis and industry out of Europe."
There's a push and pull of we have enough vs we won't have enough because of a, b and c. It's too early to tell. Need to just watch price as that will be the canary in the coal mine. :)
X (United States Steel) - Bearish Double Top & Momentum - DailyX (United States Steel Corporation) stock price has double-topped below $38.57. Bearish momentum (MACD) has down-crossed on a daily time frame.
Entry (short): $37.25
Profit Target +12% (exit): $32.76
Stop Loss -6% (exit): $39.49
Utilize stop loss, profit targets, position sizing, and risk management.
Note: Many stocks and ETFs have already rallied up for the past two weeks, signs of price potentially topping out have formed.
XLB (Materials sector ETF) price has also reached a Resistance Zone and could possibly pull back to the downside.
All content is Not financial advice. Trade at your own risk.
The Rust Never Sleeps B*tchThe earnings. The chart. The retracement. Lordy. Who though US Steel would be one of the best performing stocks this year? Not me. Seeing Gary IN on the other side of Lake Michigan always terrified me, as it does with every other Chicagoan. But now apparently the symbol of American rust and decline is making a resurgence. Pig iron demand has the furnaces blazing again. Flame on!
