We are seeing some nice basing and flagging action on shorter-term timeframes for gold and Tesla, seen below.
The gold ETF is working on a 30-minute lateral base. Seeing the “low” come on the right side of the base is actually promising because it becomes less obvious now that a breakout may occur. Let’s see if bulls can clear $127.75.
And Tesla is flagging since the open, second chart below. Intraday traders may look at a move back up through $210 to go long.
What are you trading this morning?
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“best way to dollar cost average a short? don’t” lol
holding half position in ALXN EXPE AKAM and new starter (1/4 position) in PXD SFUN SPWR – looking to reADD if market cooperates
keeping an eye on the spy 183.70 in the 30 mins chart if it’s just a quick test on the H&S.
BP still rolling.
Still watching GOOG, mostly because puts are cheap and I think as goes GOOG, so goes the Nasdaq. Watching for a breakdown of the 1200 level to confirm the rising wedge: http://i.imgur.com/l6lQabL.jpg