Too early to say yet but this power earnings gap is a positive step. Like BT, Vodafone has been suffering a significant downtrend, but it may be coming out of it. Wait and see.
Hi All, my main 3 take-outs from this analysis are the following: 1- Despite the huge volumes in the recent drop, I personally feel like this might be a bear trap 2- Inside candle pattern which might mean reversal anytime soon 3- Big descending wedge on the daily chart with take profit projection at all time high. Not a financial advice, just personal opinion....
Hi All, my main 3 take-outs from this analysis are the following: 1- On June 8th 21 price broke the descending wedge resistence (daily chart) with huge volumes. Target for that move is 19.5$. Let's not forget about this 2- Price between 21 and 50 MA, going to probably test the 6.3$ static resistence 3- Bullish divergence between prices and RSI in the weekly...
Just updating before the US session gets going. We have Flash PMI data today, so probably going to get a bit of movement. There is a lot of volumes above, these guys want to get filled, maybe they are closing out the longs before the weekend, we have to wait and see. Not personally thinking it is new sell orders into the market as we're basically in the middle of...
Not sure if we can rally another 300 points today, but there is always that possibility. The more likely scenario is that we come back down and fill the gap from yesterday as seen on the NDX
Again we are talking about low float and high gap stocks with high relative volume (MACD above 0, and KDJ intersect going up), rest is pure garbage. Focus on those criterias I mentioned and go down the list of the scanner to find the ones that meet the criteria.
So the idea is to buy a stock when it has large gap and low float, and then the lines are in the right direction as well. This takes alot of experience and practice but eventually you will understand it.
Gap formations work as important support or resistance levels. They hide behind a lot of unfilled pending orders waiting to be filled. We will look for buying opportunities this week.
Quick video on playing a fade from the current New York session open to the previous day close.
on H4: USDCAD is still sitting around support so we are waiting for momentum candle close above our green area to buy this one long-term on M30: we are currently holding a buy with our stop loss around breakeven.
on DAILY: OIL is currently sitting around a strong resistance zone in green and almost filled the previous gap so we will be looking for objective sell setups on lower timeframes. on H1: OIL is trading inside a wedge pattern (not valid yet) so we are waiting for a new swing to form around our lower red trendline to consider it objective and enter on its break...
on DAILY: USDCAD is sitting inside a strong support area in orange, and almost filled the previous GAP, so we will be looking for objective buy setups on lower timeframes. on M30: Short-term: we are waiting for a new swing to form around our blue trendline to consider it valid and enter on its break upward. Long-term (conservative): we are waiting for a new...
As you can see the GAPfillout and fillin is coming several times. You can trade easily downgrade to up and upgrade to down and finaly 5-10 candles fill in the gap. If you want to know more write here. Thank you. :)