Goldtent TA Paradise

UVXY

1. EagleSeagle says:

   September 18, 2015 - 3:03 pm at 3:03 pm

   UVXY has breached the upper trend line and is riding a backtest of the line. IMO UVXY is getting ready to explode. DO NOT TRADE UNLESS YOU CAN WATCH.

2. EagleSeagle says:

   September 18, 2015 - 3:24 pm at 3:24 pm

   Breakout goldtenters…

3. JUDlll says:

   September 18, 2015 - 5:48 pm at 5:48 pm

   Good call Brent !

4. EagleSeagle says:

   September 18, 2015 - 6:48 pm at 6:48 pm

   Thanks James, I dabble with many charts during the day. I still have your 2 hour chart.
   Been using this one:
   http://stockcharts.com/h-sc/ui?s=UVXY&p=30&yr=0&mn=1&dy=0&id=p05815729951&listNum=1&a=421174637

5. JamesBrrando says:

   September 18, 2015 - 7:05 pm at 7:05 pm

   I fully expect a test of $100 by Mid October.

6. EagleSeagle says:

   September 18, 2015 - 7:43 pm at 7:43 pm

   Agree James, the next few weeks will be very volatile. It’s about having the guts to ride this bronco once it heats up.

7. Tim says:

   September 19, 2015 - 12:27 am at 12:27 am

   What made you think a breakout was coming? I noticed that the OBV took off right when price broke out on the 5 min chart. Apart from the actual channel break and backtest, this is the only thing I can see that signalled a change of trend, except for the %R 500 which crossed over the 50 at the breakout. OBV and %R 500 were the only real clues. TSI, Stoch 14 as well as 144, RSI, and CCI all seemed to have high but not unusual readings on the 5 minute chart. A bullish environment, but not much different from the rest of the morning. Bollinger bands expanded, but only after the channel break.

   What I’m thinking is that the OBV and channel lines, along with the Heiken-Ashi candles could be a good set of indications to watch. On the other hand, it might just have been this one instance.

   HA candles on the 30 minute chart show an almost textbook perfect example of a change in trend signalled by a single red spinning top in the middle of a series of descending, then ascending candles. Like a pinwheel

   Actually, RSI 5 on the 30 minute gives a slight clue to the breakout but not on the 5 minute.

   I’m going to check the past charts for OBV and %R 500 signals. Thanks for the charts and commentary; I’ve got a better grip on this than I did at the beginning of the week.

8. EagleSeagle says:

   September 19, 2015 - 11:16 am at 11:16 am

   Tim, besides all indicators on buy for the 30 minute chart Friday. Price action stayed above the 13 EMA. On the 2 minute chart, a horizontal channel formed and this is usually a consolidation pattern before the next leg up. Toward the end of day the stoch and RSI curled up and crossed up at the 50 level–sign of increasing momentum. Also, the stoch 144 was above 80 for the majority of the day. SPX was selling off and Fridays tend to sell the end of day. Thursday was a black spinning top (30 min chart)that penetrated the lower Bollinger band, that signified the turn which I denoted on Thursday. Careful long UVXY now, because the 30 minute stoch is in overbought territory. I was flat EOD.

9. Tim says:

   September 19, 2015 - 1:30 pm at 1:30 pm

   I see what you mean. The RSI (14 and 5) for instance on the 3-min (tradingview doesn’t have a 2 min chart) made lower lows until 1pm and then higher lows afterwards. Trending downwards to 1pm and upwards after. The price action doesn’t reflect the downward trend (negative divergence) but the later, upward trend is reflected in price action, but it’s very subtle unless one looks closely at the trend on the RSI which changes at that 1pm low point. The RSI, 14 and 5, dove significantly after about 3:45 which supports the overbought Stoch reading. It’s a bit like weather prediction, I guess. It’s a matter of increasing probabilities, favorable conditions, watching for changing patterns.

   http://ambaka.com/charts/UVXY%203min%20indicator%20trends%20Sept%2018.png