wolfstreetswinger
Long

LONG - NBR - JUST SOME POINTS TO CONSIDER

NYSE:NBR   NABORS INDUSTRIES LTD
132 5 5
4 months ago
OK SO HERE WE HAVE A DECENT LOOKING TRADE - GRANTED THIS ISN'T THE BIGGEST TRADE IN THE WORLD THOUGH JUST A COUPLE OF POINTS TO CONSIDER

LOOKING AT THIS CHART WE CAN SEE THAT A STRONG AREA OF RESISTANCE HAS JUST TURNED SUPPORT

PRICE HAS CROSSED THE MOVING AVERAGES AND THE MOMENTUM NOW LOOKS BULLISH TRADING ABOVE THE 50,100,200 MA

SO WHAT ABOUT FIBONACCI ? FROM THE OVERALL DOWNTREND WE HAVEN'T YET RETRACED TO A FIBONACCI LEVEL A 0.382% RETRACEMENT COULD BE OUR FIRST TARGET (ALTHOUGH WE COULD EXPECT MORE JUDGING OFF PREVIOUS REVERSALS) ARE THERE OTHER LEVELS OF RESISTANCE IN THIS AREA? YES OUR TARGET IS JUST IN RANGE OF A GOOD PIVOT AND RESISTANCE AREA .

FROM THE CURRENT PRICE PATTERN WE BROKE THROUGH RESISTANCE AND RETRACED 0.618% AND BOUNCED OFF THE NEW SUPPORT, LOOKS TO ME WE COULD HAVE AN AB=CD COMPLETION WHICH WOULD COMPLETE AT 1.272% RIGHT ON OUR 1ST TARGET POINT THE 0.382% MARK

PRICE ACTION DO WE HAVE AN ENTRY - I WOULD SAY YES WE HAVE CONFIRMED THAT THE MOMENTUM IS NOW BULLISH AND WE HAVE A 3 WHITE SOLDIERS PATTERN WE CAN ENTER AT THIS LEVEL.

CAN WE CONFIRM WITH INDICATORS ITS NOT COMPULSORY BUT JUST LOOKING AT THE MACD WE HAVE GOOD BULLISH CROSS ON THE SIGNAL LINE

VOLUME - WE HAVE HAD SOME HIGH VOLUME LEVELS COMING INTO THIS BOTTOM AND HAS NOW BEGUN TO DECLINE THIS COULD ALSO CONFIRM WE ARE GOING UP HERE

FOR OUR STOP HERE ON THIS TRADE TO CONFIRM WE HAVE A GOOD SIGNAL WE CAN USE THE LOW OF THE PREVIOUS DAY IF WE GO LOWER THERE OUR SIGNAL WOULD BE NO GOOD

THERE ARE MORE POINTS I WOULD LIKE TO CONSIDER BUT I'M OUT OF TIME
SO HERE ARE SOME BASIC GUIDELINES I USE BEFORE TAKING A TRADE

What stage is this stock in?
Is this stock in an uptrend or a downtrend?
Is the stock at the beginning, middle, or end of the trend?
How strong is the trend?
Where are the trend lines?
What wave is this stock in?
What do the moving averages tell me?
Was there a breakout recently?
Is the chart "smooth" or "sloppy"?
Are there any chart patterns?
Are there wide range candles in the direction of the trend?
Are there any gaps in the direction of the trend?
Are the pros selling strength or buying weakness?
Where are the support and resistance areas?
Do we have any divergence?
Is this stock at a Fibonacci level?
What does volume tell me?
Price action do we have confirmed entry?

4 months ago
Comment:
snapshot
4 months ago
Comment: BULLISH HAMMER AFTER THE THREE SOLDIERS ORDERS IN 12.75 TARGET 14.60 FOR ME
4 months ago
Trade active
4 months ago
Trade closed manually: almost hit target happy for now closed up
3 months ago
Trade closed: target reached: target was reached nice easy trade still looks good to $15
3 months ago
Trade closed: target reached: target reached hope somebody caught that morning star on the dip sorry been pretty busy to update all charts
3 months ago
Comment: topped at the 50%fib will look to jump back in after a nice sell off
G13Man
4 months ago
snapshot

right at long term line
another watch ,
but ur short term lines , another good one
+1 Reply
wolfstreetswinger G13Man
4 months ago
thanks @G13Man, i like your charts nice and clear. It is we could have picked this one up at a good time here hoping to reach that $22 mark at least will see
Reply
G13Man wolfstreetswinger
4 months ago
@wolfstreetswinger,
thank you ,
i have been told my r& s are good , but using the line @ where the support or resistance started cleared up a mess and shows where it started for quicker reference
Reply
G13Man G13Man
4 months ago
@G13Man, ps green line is the IPO price , and / or , when a trade is recommended and i got in
Reply
G13Man G13Man
4 months ago
, ps , like the fibs
Reply
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