Daytrading with Consensus

[Ares]

TNOG gtc buy order at 0.004 filled.

[Ares]

Hourly ascending triangle on SKF with a 5 minute wolfewave?

[Ares]

TD update:

UYG
#1 at 29.11, open
#2 at 30.55, open
#3 at 33.45, open
#4 at 36.25, open
#5 at 34.56, open
#6 at 32.10, open
#7 at 32.05, open
#8 at 31.51, open
#9 at 30.58, open
#10 at 30.09, open
#11 at 29.12, open
#12 at 29.01, open
#13 at 28.71, open
#14 at 27.91, open
#15 at 27.66, open
#16 at 27.52, open
#17 at 26.47, open
#18 at 24.56, open
#19 at 23.12, open

SKF

#1 at 133.11, sold at 136.99

Looks like I sold SKF too soon yesterday.

[Ares]

TD update:

UYG
#1 at 29.11, open
#2 at 30.55, open
#3 at 33.45, open
#4 at 36.25, open
#5 at 34.56, open
#6 at 32.10, open
#7 at 32.05, open
#8 at 31.51, open
#9 at 30.58, open
#10 at 30.09, open
#11 at 29.12, open
#12 at 29.01, open
#13 at 28.71, open
#14 at 27.91, open
#15 at 27.66, open
#16 at 27.52, open
#17 at 26.47, open
#18 at 24.56, open
#19 at 23.12, open

SKF

#1 140.39, open

[Ares]

TD update:

UYG
#1 at 29.11, open
#2 at 30.55, open
#3 at 33.45, open
#4 at 36.25, open
#5 at 34.56, open
#6 at 32.10, open
#7 at 32.05, open
#8 at 31.51, open
#9 at 30.58, open
#10 at 30.09, open
#11 at 29.12, open
#12 at 29.01, open
#13 at 28.71, open
#14 at 27.91, open
#15 at 27.66, open
#16 at 27.52, open
#17 at 26.47, open
#18 at 24.56, open
#19 at 23.12, sold at 24.49 (feels good to have sold 1 cent from the hod)

SKF

#1 140.39, open


UYG made a recent higher high and higher low after an unsual volume with the 21.94 low.
The low of 22.97 was pretty close to my buy area of 22.87 (-2.618 fo the 15 minute opening range ( which was not filled).

Slow stochastics and rsi2 looks to be showing some signs of strength in an oversold condition.

MACD histogram showing some upward momentum and MACD flat/diverging while price made a lower low (low of 21.94 compared to previous low of 23.83).

I was looking for a candle that made a lower low (that ended up higher than the previous day's high - but cannot find it in the chart posted below).

If UYG makes a lower low tommorow, will that mean a  wolfewave in play already?

If it makes a higher high, will it just touch the ltl of the descending trendline (25.23/25.45 area) (that means points #1 and #4 will have to be redrawn) then move down?

or

Will it move towards the 26.98/ 27.26 area for a possible inverse head and shoulder pattern?

I enjoy speculating but it is what the market's decision that counts.

Let's see how the market reacts on June 26.

[Ares]

TD update:

UYG
#1 at 29.11, open
#2 at 30.55, open
#3 at 33.45, open
#4 at 36.25, open
#5 at 34.56, open
#6 at 32.10, open
#7 at 32.05, open
#8 at 31.51, open
#9 at 30.58, open
#10 at 30.09, open
#11 at 29.12, open
#12 at 29.01, open
#13 at 28.71, open
#14 at 27.91, open
#15 at 27.66, open
#16 at 27.52, open
#17 at 26.47, open
#18 at 24.56, open
#19 at 22.23, open

SKF

#1 140.39, sold at 142.99

Sold SKF too early earlier.

Not sure but there seems to be a 7 point 5 minute bearish wolfewave.

Watching if the wedge (blue) breaks down.

[Ares]

TD update:

UYG
#1 at 29.11, open
#2 at 30.55, open
#3 at 33.45, open
#4 at 36.25, open
#5 at 34.56, open
#6 at 32.10, open
#7 at 32.05, open
#8 at 31.51, open
#9 at 30.58, open
#10 at 30.09, open
#11 at 29.12, open
#12 at 29.01, open
#13 at 28.71, open
#14 at 27.91, open
#15 at 27.66, open
#16 at 27.52, open
#17 at 26.47, open
#18 at 24.56, open
#19 at 22.23, open

The blue line (wedge) on SKF 5 minute chart didn't break down yesterday and went higher instead.

UYG made a lower low and sent towards the rtl of the descending channel.

Would there be a volatility expansion or a bounce from the rtl today?

About 8 minutes to market open. gl

[Ares]

TD update:

UYG
#1 at 29.11, open
#2 at 30.55, open
#3 at 33.45, open
#4 at 36.25, open
#5 at 34.56, open
#6 at 32.10, open
#7 at 32.05, open
#8 at 31.51, open
#9 at 30.58, open
#10 at 30.09, open
#11 at 29.12, open
#12 at 29.01, open
#13 at 28.71, open
#14 at 27.91, open
#15 at 27.66, open
#16 at 27.52, open
#17 at 26.47, open
#18 at 24.56, open
#19 at 22.23, open
#20 at 20.58, open

Possible Wolfewave on hourly SKF?

[Ares]

If the SKF hourly is not a wolfewave, I'm looking at UYG as a possible 3rd down day entry with RSI2 below 30 and Slow stochastics oversold.

If it goes down, how low will it go?

If it goes up...

We shall see.

[Ares]

TD update:

UYG
#1 at 29.11, open
#2 at 30.55, open
#3 at 33.45, open
#4 at 36.25, open
#5 at 34.56, open
#6 at 32.10, open
#7 at 32.05, open
#8 at 31.51, open
#9 at 30.58, open
#10 at 30.09, open
#11 at 29.12, open
#12 at 29.01, open
#13 at 28.71, open
#14 at 27.91, open
#15 at 27.66, open
#16 at 27.52, open
#17 at 26.47, open
#18 at 24.56, open
#19 at 22.23, open
#20 at 20.58, open


UYG currently have at least 3 down days.

First up day today or more downside?

Someone from the yahoo message board mentioned about fund managers may want to start loading up starting on the fresh quarter ( which is today).

Let's see how this unfolds...

[Ares]

TD update:

UYG
#1 at 29.11, open
#2 at 30.55, open
#3 at 33.45, open
#4 at 36.25, open
#5 at 34.56, open
#6 at 32.10, open
#7 at 32.05, open
#8 at 31.51, open
#9 at 30.58, open
#10 at 30.09, open
#11 at 29.12, open
#12 at 29.01, open
#13 at 28.71, open
#14 at 27.91, open
#15 at 27.66, open
#16 at 27.52, open
#17 at 26.47, open
#18 at 24.56, open
#19 at 22.23, open
#20 at 20.58, open


Melf's target of 19.05 was pretty close to yesterday's low of 19.00
Temp-brenda's (yahoo message board) entry of 19.02 was sweet.

I was tempted to get in at 19.01 (for the round number) but felt that I wanted to give some room from my previous buy of 20.58.

I was looking at the -2.618 of the 15 minute opening range which was at 18.78 - and wanted to low ball with a bid of 18.51 - which was not filled.

UYG chart seems to have created a volatility expansion.
If it creates a higher high, how high will the recovery rally be?
Time to look for an ftt soon?

Who knows, it may make a lower low too.

I kept the blue line target in the drawing (just in case it may be a wolfe wave)

[Ares]

With yesterday's higher high, UYG kept on breaking its intraday supports but failed to touch the 0.618 of the previous day's candle before close.

Let's see what the day brings today.

Another higher high or a new lower low?

[Ares]

TD update:

UYG
#1 at 29.11, open
#2 at 30.55, open
#3 at 33.45, open
#4 at 36.25, open
#5 at 34.56, open
#6 at 32.10, open
#7 at 32.05, open
#8 at 31.51, open
#9 at 30.58, open
#10 at 30.09, open
#11 at 29.12, open
#12 at 29.01, open
#13 at 28.71, open
#14 at 27.91, open
#15 at 27.66, open
#16 at 27.52, open
#17 at 26.47, open
#18 at 24.56, open
#19 at 22.23, open
#20 at 20.58, open
#21 at 19.00, open

Yesterday, I thought of buying UYG near the -1.618 of the previous day's candle but ended up buying UYG at 19 because it was near the -2.618 of the opening range at 18.92 just to see it drop some more.

I then decided to place another order at 17.51 ( 1 cent above the -2.618 of the previous day's candle which - was not filled)

What I did notice though (after I bought at 19 that price bounced at the rtl of the hourl descending channel at 17.90).

I do not know where the bottom is, but I feel that SKF is quite high already ( which may still go higher).

While waiting for SKF to pull back, I've been nibbling on UYG.

[Ares]

Here's yesterday's chart:

Will price trade above the pivot, make a higher high, or make a new low?

[Ares]

TD update:

UYG
#1 at 29.11, open
#2 at 30.55, open
#3 at 33.45, open
#4 at 36.25, open
#5 at 34.56, open
#6 at 32.10, open
#7 at 32.05, open
#8 at 31.51, open
#9 at 30.58, open
#10 at 30.09, open
#11 at 29.12, open
#12 at 29.01, open
#13 at 28.71, open
#14 at 27.91, open
#15 at 27.66, open
#16 at 27.52, open
#17 at 26.47, open
#18 at 24.56, open
#19 at 22.23, open
#20 at 20.58, open
#21 at 19.00, sold at 20.49

UYG closed above the 8 ema.