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Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the...
Entered a long position on CNX Resources Corporation $CNX.
Timeframe: D
Target: ~$23.50
SL: ~ $19.95
Reason: bullish break of a daily inside bar, in the direction of weekly trend.
CNX bounced off the 200 EMA on the daily and has broken out of a downward wedge. A move over $21.00, and a reclaim of the 50 EMA should send this back up to test the highs. Looks even better on the weekly chart imo. Target $23.50
CNX has shown great strength recently and broke over $23.33 pivot to hit new ATHs yesterday; volume has also increased, having shown volume dry up during the accumulation phase. The U/D ratio on this ticker is also good and suggestive of institutions buying this stock up.
CNX is looking strong just now. U/D ratio is close to 2, suggesting institutions could be interested, we had a launchpad set up a few days ago but was followed by increasingly tight price action. Blue skies over 23.33 and this is a strong sector as well
Hello Traders! CNX is making a valid pull back in price (Retracement) and I'm waiting for strong reversal candle stick pattern before entering a position:
1. Inside bar candle stick pattern
2. Piercing line
Hope you enjoy my analysis and hope you smash the like button
Weekly Uptrend Consolidation
SMA 20/40 as support
OBV> OBV40
Entry 13.9
Stop 12
Target 27
Risk management is much more important than a good entry point.
The max Risk of each plan should be less than 1% of an account.
I am not a PRO trader. I trade option to test my trading plan with small cost.
Day long from over but looking like a solid breakout underway. Oil stocks are strong today.
CNX Resources Corp (CNX)- PRODUCES UNCONVENTIONAL SHALE FORMATIONS, PRIMARILY THE MARCELLUS SHALE AND UTICA SHALE IN UNITED STATES.
CNX looking to breakout soon.
I am establishing a small position now before breakout and will look to add to it if it can hold the breakout.
Expect a breakout in the coming days.
CNX has been in a downtrend since August but it's coming into major support at $8.35.
It has also been consolidating since early this year. Consolidation = energy.
The longer the consolidation, the bigger the energy released will be to the northern or southern direction. Cannot predict which way the energy will be released.
Trade setup 1 (long): Break and...
- This stock made its way onto our watchlist with the first bullish pin bar just below the 200 day EMA (First green arrow)
- We then drew up the trade plan with a bullish bias when the multiple inside bar pattern began to form with a stop loss below the formation and an initial target of $12 (previous event area)
- The trigger for entry was a break of the mother...
