EliteTrader101

EliteTrader101 Jul 6, 2014

It looks like Drys has hit rock bottom and is on the rise again.

EliteTrader101 Jul 3, 2014

This is going to new highs as some many traders shorted yesterday right into a strong support level.

EliteTrader101 Jul 3, 2014

This is an important level because this is when Janet Yellen spoke on June 18. So look for any absorption pins off this level to go long. Very strong support level.

EliteTrader101 Jul 3, 2014

This looks very strong and ready to breakout to the top side

EliteTrader101 Jul 3, 2014

The big players quickly gapped prices above a high volume sell level so that buyers will stay long and be happy with their position. This save them money by not having to buy into heavy selling, so this market wants to go to new highs.

EliteTrader101 Jul 3, 2014

I was hoping the breakout would happen 2 weeks ago, but I got shaken out last week. Going to look for any pull back tonight to enter long as I think the breakout can last for several weeks because this sideways range built up a lot of orders for many months so the move out of this range should be huge.

EliteTrader101 Jul 3, 2014

This trade was a bit tricky for a buy and hold type of trade. I tried 2 times to pick the bottom yesterday and had a feeling that they would trap at previous day's low, but they made the trap move while i was sleeping. After i woke up today i saw the trap and entered long to catch 1/2 of the move. I might buy a tiny bit in this balance zone, then place a huge...

EliteTrader101 Jul 2, 2014

FB had a fast move down to stop out late longs for the next leg up on the 30 min and it was re accumulated at the 200ma by institutions. This is a very strong buy signal for me because the rejection off the 200ma was so quick and is a retest of the previous value area's top edge. This should make new highs with the strong stock market.

EliteTrader101 Jul 2, 2014

I'm going to look for a slow move back up to where this drop began tonight for a short. This is the 3rd week up back into the level where it broke down on a M pattern off the longer term charts. I just want to see a stop hunt on the upside to take out some of the weak shorts before this downtrend continues

EliteTrader101 Jul 1, 2014

Weak buyers have come in and are stopped out so now the bottom is in place. Also a H&S pattern.

EliteTrader101 Jul 1, 2014

If the 1st 30mins closes up, then it means buyers came in at the bottom of this high volume pin bar. The daily looks very bearish on the double top so there are lots of traders short and if this is a trend continuation, we have a lot of fuel to propel this stock to new highs if the sellers stops are triggered.

EliteTrader101 Jun 28, 2014

The quick rejection off the weekly trendline tells me that a lot of big buyers are interested at that level and as you can see, we are moving up now to higher levels.

EliteTrader101 Jun 26, 2014

A huge number of retail traders shorted right on the break at the bottom so this should be enough volume to push prices up to new highs.

EliteTrader101 Jun 26, 2014

the shorts are going to get squeezed soon and will add fire to the upmove to breakout to new highs! Quick rejection off the trap below previous day's low got a lot of retail traders short and their stop is on top.

EliteTrader101 Jun 26, 2014

I really want to be long this bullish pair, I hope price will fall back down to my buy zone.

EliteTrader101 Jun 26, 2014

It's pausing for the market to squeeze shorts

EliteTrader101 Jun 26, 2014

Longs are still in control of this market, and the High volume was tested yesterday with no sellers interested in shorting it, that is why it went up today.

EliteTrader101 Jun 25, 2014

We have a well defined trend channel to play against so I'm going to be placing my limit buy orders down below at the trend line and below previous days low to capture any trap moves on the news release tonight. My target will be new highs and my longer term target is at 1.3700. I'm going to be using a stop loss order 11 pips below yesterday's low.