SANATA AND HIS REINBULLS ARE COMING TO TOWN!! (doesn't feel catchy, but it fits.. I guess?)
Next weeks(possibly even months) outlook is looking pretty dang clear.. The bulls are in full force!!
-Shorts squeezed out
-Good Ol' Cup n Handle formation
-Break through the 50D,20D, moving averages, bounced back with 100% recover.
-Heavy long volume accumulated in the Value Zone( Volume Profile - Point of Control)
Excluding the recent drop, there's been 4 weeks of balance between November and December between 4650-7010 price area. With that being said, I believe there's still long-term holders that accumulated in the Nov5-24th + the 3 day balance between Dec8th,Dec 10th. There's a ton of bulls in the game right now!! With the recent drop and recover, it's apparent the bears couldn't shake the bulls and the longs are back in FULL FORCE. An explosive move up has been bottling for sometime now and it's ready to POP! The coming weeks should be pretty straight forward, its clearer than ever that this market is going up..
Looking to end the year strong, I'll be entering with heavy conviction and heavy options futures contracts this month. Here's a look at a trade im entering coming into Monday:
Enter at pullback: 4687(Value Zone + .382 Fib Correction from last leg up on 30m chart)
Targets: 4800(Long Term TL,) 4874(1:1 Fib Ext)
Stop: 4681(Break below value zone + violation of the baby cup n handle formation and likelihood of further chop n balance)
This could top my chart for one of my best trades if it plays out. I may or may not get the desired entry at the pullback as it's definitely likely we could see a gap up Sunday/Monday. I'll take the entry at the break of balance either way and adjust my stops.
A little helpful link to check the historical average gains/losses of specific months, take a look at December: 53 up years; 18 down years; ave. return = 1.39%. Here's the link: www.moneychimp.com/features/month...
30m chart:
Next weeks(possibly even months) outlook is looking pretty dang clear.. The bulls are in full force!!
-Shorts squeezed out
-Good Ol' Cup n Handle formation
-Break through the 50D,20D, moving averages, bounced back with 100% recover.
-Heavy long volume accumulated in the Value Zone( Volume Profile - Point of Control)
Excluding the recent drop, there's been 4 weeks of balance between November and December between 4650-7010 price area. With that being said, I believe there's still long-term holders that accumulated in the Nov5-24th + the 3 day balance between Dec8th,Dec 10th. There's a ton of bulls in the game right now!! With the recent drop and recover, it's apparent the bears couldn't shake the bulls and the longs are back in FULL FORCE. An explosive move up has been bottling for sometime now and it's ready to POP! The coming weeks should be pretty straight forward, its clearer than ever that this market is going up..
Looking to end the year strong, I'll be entering with heavy conviction and heavy options futures contracts this month. Here's a look at a trade im entering coming into Monday:
Enter at pullback: 4687(Value Zone + .382 Fib Correction from last leg up on 30m chart)
Targets: 4800(Long Term TL,) 4874(1:1 Fib Ext)
Stop: 4681(Break below value zone + violation of the baby cup n handle formation and likelihood of further chop n balance)
This could top my chart for one of my best trades if it plays out. I may or may not get the desired entry at the pullback as it's definitely likely we could see a gap up Sunday/Monday. I'll take the entry at the break of balance either way and adjust my stops.
A little helpful link to check the historical average gains/losses of specific months, take a look at December: 53 up years; 18 down years; ave. return = 1.39%. Here's the link: www.moneychimp.com/features/month...
30m chart: