I don’t like that you can’t see the chart that you are publishing. So it can be hard to write what I can’t look at. Or am I missing something? I would not doubt this. Anyway I will post my thoughts in an update below.
I am long CL riGht now. Down wedge for me means upward move though more to it than that of course. But I want to throw this up here and I will explain more later. Right now I am pooped and need sleep. Thanks all! And thanks for following me. I love you all! Ms. Bunny
You can see I took a position right when price hit the supply zone. Upward wedge gives a downward bias. Vertex of wedge ends right at supply zone. This gives confirmation of a valid wedge. Also volume profile gives 3rd confirmation. My target is the demand zone seen below.
I have peaked the trade in green with my target price as shown. I will re evaluate at tip of wedge as they may possibly be a good place to enter short for big profit.
These are three possible entry positions for a short. 1. Enter at top of down wedge. Pretty safe, and having a nice supply zone just above gives you an opportunity to increase position size if it pulls back to here. 2. Enter on retest of down wedge after it breaks through. This is safe but we are limiting our risk reward, but still very profitable. I would...
Here is a head and shoulders pattern and how the neckline can be used as a trigger for either a short or long position. Wait for neckline to declare itself as support or resistance. 2 possible scenarios: 1. Price breaks neckline (resistance currently) wait for retest of what would then be support to enter long position. 2. If price bounces down off neckline then...
Yesterday it looked as if we were headed toward 1700. But then price reversed back into the diamond. However the setup is still perfectly valid. And my thoughts are the same for the most part. However after adjusting my zones just a little, I have seen a path to below 1700. You can follow this with the red shaded down arrows. Personally I will decrease my...
I have entered the GC short trade. Please refer to my prior chart regarding this (see link below). My trigger has fired as break below the diamond and point of control has happened. Albeit, on a smaller time frame than my usual 4 hour. So, did I jump the gun? Perhaps, but I took this risk because all I see short at the moment. You can see my risk reward, and...
I love seeing and showing examples of pattern breakouts. Either failed or successful. This is an example of a perfect breakout of down ward wedge on NQ position I took. I will post more pattern succes and failures as they arise.
This is my set up, for Russell Obviously a short entry has a better risk reward with 3 potential targets. But I don’t get to pick direction. My bias however is long due to the down wedge and strong supply. Price tends to attracted to strong demand or supply zones. Have fun! Please give thumbs up and follow if you find this helpful.
This set up has short written all over it. 1. Diamond pattern- this is often a reversal sign. This could arguably be called a bear flag as well. 2. Although not drawn on this chart an upwedge can be found in the diamond. Also a bearish reversal sign. 3. Down trend line test multiple times since early January 2020. 4. A demand zone that seems to be begging for...
Hello fellow traders! I hope you are enjoying my charts and analysis. As you can see from my past analyses and now this CL analysis, I am strictly a trade by patterns kind of person. Wedges, ascending/descending triangles, pennants, flags, diamonds, double/triple tops, head and shoulders carry GREAT POWER especially when combined with support/resistance and...
Admittedly this trade does not present the best risk reward ratio, but the high probability of success for this trade makes it worth the trouble. Please see my previous GC post (link below) and how price has followed as I predicted at that time. Please support with thumbs up if this is found useful Thank you, Ms. Bunny.
Gold I expect to go to 1750-1760 before dropping back to 1700 - upward wedge indicating reversal - strong supply zone - upward wedge vertex confluent with supply zone (I love when things conflue :) - RSI will likely be overbought or show bear divergence. I drew a possible price path scenario after supply zone is hit If you like this idea please support me by...
My short position was triggered. It possible my entry is a little early because I adjusted my limit order. So risk of trade is higher than originally planned. But at the same time I was worried about missing out on a potential lucrative trade. I guess that would be FOMO, but I will lower my stop if trade moves in my direction to limit risk. Short is supported...
This is a perfect example of a breakout of a down wedge and the power it hold. You could have taken this trade on a breakout or a retest of the wedge. The target target price is equal to the widest part of the wedge.
You can see the formation here of a down wedge within a down wedge (wedge gets a wedgie).this is the yellow wedge and the black wedge. This points to a bullish bias longer term. Though you can see I am a seller right now from 65.10 with target price of about 63.70. This is where the yellow and black wedge intersect. I love this kind of confluence. You can see an...
My short position in the middle is the trade I took. It triggered earlier today and took a while to start moving. If it hits my first target I will re evaluate whether to take profit or keep position.