TSLA Enthusiast. Human Futurist. Trading equities since 2009. Everything I say and write is merely my opinion and is not to be construed as Financial Advice.
Planet Earth, for now.
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Tracker retweeted
As soon as $IWM bottoms (any day now) data centers, miners, etc. will slingshot.
When I was warning back in June that we had bearish divergences building and we would see a retrace no one was listening.
Now that the RSI has completely reset no one is listening yet again ☹️.
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Don’t do this @tradingview.
It’s not a cash grab. It’s a nuclear option that will result in a MAD loss of users.
Why would you drive away your most dedicated users after all the work your teams have done to make the platform so useful?
This usurious “Technology Fee” is a declaration of war on your own success.
TradingView just snuck this into their Terms of Use... Not live yet; no announcement.
Over 100 users on your invite-only script?
$29.95 per user, per month. From you.
This platform is cooked.
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Where following this $SPCX blue Gann arc began:
$SPCX 1-hour Gann Square chart, showing the three-way battle taking place on the log scale price retracement move of this stock from the ATL towards the ATH.
Price will choose one of the two lines: green 45 degree angle up, or blue arc down. So far it's been trying out both while ending up stuck on the 0.5 log middle.
It's been boring Since September 17, but upcoming excitement is guaranteed.
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$SPCX 4-hour chart, showing the same Gann Square, but also all of the lifetime log retracement Fib levels from the ATH to the ATL.
So far, price seems to be vectoring away from the 0.5 Fib and walking back down the blue Gann arc to initiate a new round of support testing lower.
A new lower low than the last higher low of $142.50 confirms the trend.
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$SPCX There are a lot of shares trading, but so far, all buying is getting absorbed into the price just under the 1-hour MA75 on top at $150.41 in this screenshot.
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$SPCX 1-hour Gann Square chart just after the orbit scrub was un-scrubbed and put back into play.
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$SPCX now. $153.80 above remains the critical resistance to watch.
Otherwise we’re likely to get a continuation down the arc to $140.51.
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This is a terrific visualization of the size of the Mechazilla catching and re-launching platform!
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Great thought processes laid out here by @xenomecha
"When should I sell $SOFI?"
There's no real way to answer this, but I'll try my best to.
The quickest way to get a good estimate for when it would be a good time to sell or trim is to use Fibonacci extensions.
The 1.272, 1.414, and 1.618 are the most common ones, with the Golden Ratio being the main focus. If you're not familiar with these or not sure what I mean, watch my free Fibonacci Masterclass in the highlights section on my profile.
With that said, this is not the only metric I would use. It would be a starting point.
I would then monitor the stock on a weekly basis, check what the candlesticks look like, check what the volume says, and check for any potential patterns that are forming.
I wouldn't even consider selling or trimming unless we are near these key levels.
$47, $62 and $91
The other vital component to spot an exhaustion or trend reversal is not just volume fading, but also the Bollinger Bands.
When Bollinger Bands stop expanding and instead start contracting, particularly on the monthly chart, it's a tell-tale sign that the momentum is slowing down and that strength is decreasing.
What else?
I would look for a steep decrease in Whale Accumulation week over week or month over month, combined with some kind of RSI divergence.
At the end of the day, no matter which way you cut it, there are a thousand ways to skin the cat. You can use as many indicators as you like.
For me, I like to stick to what I'm familiar with and what I understand.
And so, to wrap it up, depending on what is happening with $SOFI, here's a basic playbook:
Safe: I would trim some at 1.272, trim even more at 1.414, sell the rest at 1.618
Medium Risk: Do nothing at 1.272, trim some at 1.414, sell fully at 1.618
High Risk: Do nothing until 1.618, then sell fully.
Notice I say "some" because the % you trim is always up to you, and I don't give any advice on that.
Please also note that in all examples I mention getting out entirely, that's because I don't plan to hold $SOFI in my portfolio forever. The case might be different for you. So act accordingly.
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I’ll be watching this Starship launch closely. I have high hopes for its success!
Starship’s 14th flight is set to launch on Monday, Sept 28. The 75-minute launch window opens at 7:15 a.m. CT. Live coverage of the mission starts ~35 minutes before launch → nitter.net/i/broadcasts/1qxvvenMP…
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This is such a masterful 20-minute argument by @cantonmeow for the power of the 0.886 retracement back-test.
I highly recommend watching it. It could blow your mind! 🤯
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Tracker retweeted
Wife didn't know anything about technical analysis.
She's 40% through my cantonmeow.com course and is extremely impressed, and she's not easily impressed.
This picture from my Wyckoff lesson did disturb her last night though, even though it was there to make a point.
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Tracker retweeted
No matter how good you think you are, there will always be an Asian who's better than you.
In this case, it's @cantonmeow lmao
I think he's Cantonese, based on his username, at least.
I think that still counts?
The sort of dude to make you think you have imposter syndrome with technical analysis.
I question my entire skillset after watching his vids bro 🤣
His way of finding things that none of us would notice is something else, his foresight is incredible, and I don't think there's another person on the platform as knowledgeable as he is when it comes to market analysis.
Anyway, yeah, great video. I've got nothing to add.
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