NASDAQ:PTON :
This trade is purely technical and focuses solely on price action and Fibonacci. The stock seems to have retraced to its 61.8% retracement after a strong bullish surge that indicates a potential HH sequence. The price suggest that markets may start to consolidate for a few days before the next leg up.
S/L is placed relatively tight; placed under a...
NYSE:BE :
Price pullback to its buy zone that aligns with the 61.8% retracement level. I had missed the triple bottom, and decided to enter early into the market. There is also a well formed consolidation (horizontal channel ) around the 61.8% retracement. My assumption is that this industry is a good sector that would probably be trending higher in the coming...
First of the many trade journal entries to keep me grounded. A way to measure the profitability of my setups.
NYSE:NEM :
Price had pullback to retest its previous breakout level around $62.20 and is testing the lows that generated the momentum for the breakout ( support and resistance).
The whole bullish momentum retraced to the 76.4% retracement level. May...
NASDAQ:GH :
Price pullback to previous breakout level around $112. Currently testing the lows prior to the breakout, which is a good support zone (support and resistance).
The level that price is currently testing also happens to be the price of the 61.8% Fib. retracement @ $98.20. This would be a good support zone for price to consolidate before the next move...
Upon reviewing my trade, I decided to zoom out and PROBABLY try to complete the wave pattern. It seems that the original ending diagonal of a 5th wave may be wrong but price may still be trading in the 5th wave, i.e a parallel channel. I also notices that before the start of the 5th wave, there was indeed a correction ( double three) and MAY indicate that the...
There may be a potential sell to ride the next wave down for JPM; seems like a double three pattern may be happening at the moment. Currently, it will (probably) undergo its Wave C of Wave Y (I'm not sure, just speculating). A bit tricky on where it would end; i) could potentially push price towards its previous low or lower (around 92.00); or ii) fall short...
While there's talks of a possible recession just around the corner, came across this interesting pattern. Possible ending diagonal (Wave 5?)
Will continue to check if price enters the trend zone again and continue the Wave 4. Or its a good breakout of the trend line and its a potential BUY for the near future. Opened a sell trade on MSFT.
* I'm a newbie on...
Price have shown a significant pullback to test an important area around 0.88195. Medium term; market is in a uptrend with a possibility for it to continue its trend up to test the 1.272 Fib level. Kept S/L relatively close to the support. A break of the 0.88575 level will clearly support the direction of this trade. Needless to say, fundamentals and news related...
EL has been in an overall uptrend with today's price breaking above resistance @ 145.86. Retest around the resistance turned support was the plan, and placed a buy limit order that got triggered. I have been observing this stock for a long - time and the analysis still supports the long - term buy. Been taking profits( partly due to indiscipline); From the chart,...
INTC is in a major downtrend. A minor pullback into the range before sellers swamped in pushing price below the major support @ 46.17. Price trading below and not breaking above the S turned R, along with moving averages aligning to suggest sellers are dominant, I decided to open a sell trade with T/P placed around the lower low.
NVDA has been trading in an overall uptrend. Price has tested major support and buyers momentum has started to dominate. Overall, the trade is placed early, with moving averages not lining up as planned. But setup looks like there could be a breakout to the upside. Identified two levels that I need to watch closely (marked in red). Price action may be pointing to...
TSLA has undergone a reversal to the buy side. Currently trading within a mini range, probably preparing for a breakout of resistance around 302.85. Market has been in a downtrend all of last week (major sellers market), a pullback was eventually due.
FB showing a possible reversal. Price is trading in a mini buyers market, in an overall downtrend. Currently, the buyers are holding ground and price trading close to a minor support. With 9ema/50ma lining up to suggest a possible reversal, there may be a high chance for a breakout of a major resistance @167.16. and may even go higher. Risky trade, however am...
Decided to test a counter-trend theory on AAPL; price have failed to make new higher highs on the (1H) with sellers momentum dominating. Will keep an eye on price action.
224.43 looks to be a minor support, unsure it will hold steady but major support @ 219.33 may likely be tested. Keeping S/L just above the ATR on the (4H) candle.
Price seems to be trading just above the 9ema, with the 142.63 level broken twice but did not close above suggesting that buyers are probing the area above. Possibility of a higher low sequence developing before strong move up to test T/P level (potential breakout). Keeping S/L wide, considering developments on the trade front.
Currently market is trading in a mini downtrend, but price may start to create higher lows from 175.60, keeping S/L following ATR from (4H) candle around 9.30 open.
There's also a possibility for price to hit the lower lows around 172.00
