Island reversal pattern forming for Home Depot NYSE:HD ?
Started in Feb 22 almost a year ago after earnings report.
If it completes, exceeding 339, then it will be a bullish reversal and 400-420 will be in play. So for next earnings it's possible that price will gap higher. Still watching though.
This is not advice. Do your own research and trade your own plan!!
I've been tracking a TSLA long term short from a prior idea and was greedy expecting price to trace back to 150 levels. With the bearish nature of the past couple day's moves, a gap down creating an island is just what the doctor ordered for TSLA to continue its downward path.
TLDR Open gap down I’m super bearish. Continue to range in this 190+ zone I will...
High timeframe so this could take several months to even get back to the gap fill but very nice high RR on this if it comes to daddy. Classic bearish island top into potential H&S as per Edwards/Magee.
It seems like a good annual report triggered hype around Tesla.
The chart forms island reversal with 3 price gaps. I will wait for movement start cause I don't know for how long it continues but volume started decreasing.
Islands form when 'prices gap up to the formation and then gap down at the same price level' this is what traders would call an island top, where the initial breakout is upward, forming the island seen, and then a drop back down to the water follows so to speak. With a 23/23 success rate in a bull market according to 'Encyclopedia of chart patterns' islands are a...
KHC is forming a bullish Island Reversal. Recently the stock gapped down below 29.00 and never filled. Today it gapped above 29.00. Could this be the bottom. It is a retest gap so I will give it a few days to a week to retest to take a small position.
Island Top in play almost exactly similar to January 1994 Platinum.
Wait for an inverted Hammer Doji at the end of the downtrend to confirm the reversal.
in my opinion, if no manipulation happen this is the healthiest way to break the 8K resistance and the beginning of 12K scenario.
Boeing (BA) have being printing Wyckoff distribution patter for long time followed by an Island Reversal pattern. I believe it is at the beginning of a lengthy down trend.
From the Daily chart we can see a text book Double Bottom pattern emerge just before the breakout and continued uptrend begins.
When we take a closer look at the hourly and 30 minute charts we can see two possibly three island reversals which make taking a trade extremely risky when a commodities price could gap down and leave us stranded. This will further...
I'm gonna let this G20 bullish mania settle a bit and see how these indices react to these gap ups before making a move but this looks like a clear cut reversal head and shoulders coming off an island bottom. Looks bullish. Might miss some of the move if it keeps running from here but if it actually ends up being a valid reversal there will be plenty of profit...
Dangerous for all Longers!
Until now FX:USDJPY shows no clear direction. This can build an ISLAND TOP. If the market does not rise efficiently there will be a greater pullback.
Another candle pattern could be an abandoned baby which also leads to a strong bearish behavior.
APPLE: AAPL Island reversal from the top has still not been filled - so this stock is still vulnerable to sell offs on each rally for now. The entire formation at the high is is a minefield of pin bars. Leave this stock alone until the technical picture improves
A big fat island reversal on the daily chart. It could leave it in the dust and attempt new all-time highs. Or it could chop down and fill that gap. The MACD crossover indicates the former may happen.
