I'll post some quick TA from today (11/7)
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5% in the US. Putting in my notice tomorrow!
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2-1 TA (Post Market):
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2-1 TA Midday update (SPY, CRM, AAPL)
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Hey - any updated TA on CRM?
Full time trader checklist for those interested.
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Overall - still many bullish setups as the market price action has been uber bullish, but don't go heavy on longs as the market has been hitting new ATHs daily. Have some cash or some hedges.
Thanks for the insight. I’m trying to learn technical analysis and wondering how you determine which time frames to analyze for each stock? Like why use 1hr charting for one and 12hr for another?
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Its just perspective. I focus on the 4h / 8h charts to get an idea of the price action and overall trend. That way, I don't focus as much on the intraday swings when thinking about entries and exits. However, I do drill down to the 1h or 30 minute charts to see momentum or to get a better look at the price movement. Using 1h charts obviously provides some insight that a 4h chart doesn't, so I'll use it to get a better understanding of what the price is doing. And I use smaller time frames when scalping / day trading as I look for support/resistance and pivots.
The 12h charts I only used to fit the chart on one screen haha. Otherwise I don't use these.
There is no science to it, its all personal preference based on your trading strategy.
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DKNG - 4h - bounced at the 43 level, now hovering back around that .5 FIB level, which almost coincides with $50.
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MGNI - 2h - got in this trade today after the short seller news broke. Found support just below the $23 level, where I entered a call position. Finished the day nicely, but hoping the rally resumes. $21/22 would be strong support if it fell again.
Like this a lot at $22. Isn't their Investor Day or some event coming up, too?
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PLTR - 2h - got the break above the downsloping trendline - is this the next leg up for PLTR? I got into a short term call position, will take profits quickly as the lock up period ends in Feb.
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Out of PLTR for 20%, was a smaller play and trying to take some profits this week
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AMD - 1h - bullish break of the horizontal line (was the ATH back in fall of last year). On smaller timeframes it technically retested that level, but maybe it will come back and retest tomorrow before continuing up.
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AAPL - found support around 127, and resumed up. Got back within the rising wedge, looking to continue up to 135 range.
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QCOM - 4h - got a bullish break of the wedge. Look for a retest and resumption to go long.
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SPLK - 4h - based around the 161 level and looks like price action may be turning bullish. Going to wait a bit longer on this one though to pick up steam.
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SQ - 4h - had a major rally to get back above the LT trendline. See reply for 2h chart. May consider a ST spread here for next week expiry.
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SQ - 2h - had the break and retest of that line, but maybe it will retest it again.
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TTCF - 4h - 24.2 is proving to be strong resistance. Break above would allow a run to 26 area.
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TSLA - 2m - Scalp opportunity. I called this is the daily thread in the other bowl, but 812 was the level I was watching that TSLA rejected 4 times throughout the day (3 time in the afternoon). Also formed higher lows, showing that the number of sellers is steadily decreasing and the buyers should eventually win. On the break, TSLA jumped $6 in the last 10 minutes. Was a nice quick profit play.
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GLD - 12h - not much update, still cooling off from Tuesday. Got into a gold call position today for March
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Cut Gold - got hit hard today, and technical set up is no longer there.
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SLV - 12h - same as gold, not much change.
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SLV holding support at 24. Broke through the uptrend though.