Well everything went bananas after the rate hike and with NDX up over 4% at close still potentially in a corrective area I am guessing there may be some whipsaw in the pipeline over the next few days.
For that reason I've exited NDX related crypto stocks and also that BTC looks overextended.
On RIOT chart there is a big gap down at $5.7 and my guess is it fills before moving on up.
It may go higher short term but if it did happen have topped today then a 1:1 ABC takes it down to $5.5.
A little overshoot would take it down to 0.618 retracement.
And the coloured band is the long term shakeout reversal zone which I would now consider an accumulation zone.
If it did happen to get to $5.2 at the top of the band I would like to buy more and short more puts there (to take advantage of high options IV).
Short denotes potential trend direction - NOT SHORTING.
Not advice.
For that reason I've exited NDX related crypto stocks and also that BTC looks overextended.
On RIOT chart there is a big gap down at $5.7 and my guess is it fills before moving on up.
It may go higher short term but if it did happen have topped today then a 1:1 ABC takes it down to $5.5.
A little overshoot would take it down to 0.618 retracement.
And the coloured band is the long term shakeout reversal zone which I would now consider an accumulation zone.
If it did happen to get to $5.2 at the top of the band I would like to buy more and short more puts there (to take advantage of high options IV).
Short denotes potential trend direction - NOT SHORTING.
Not advice.
Nota
RIOT pushed on a bit but with looks very corrective to the upside here and also considering indexes and BTC looking bearish, the gap is going to fill i think then i will buy and/or short more puts.Nota
Looking bearish af here. That little pop up out from a bearish pattern is a classic wyckoff distributive trick.Gap is going to fill i'm quite confident.
Nota
I was very early on this one and as they say on "early is wrong" however I made profit on RIOT and that gap will fill.
Your FA guru can't read a chart💭
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Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.