Thank me later... 🤑😜🥳 So what happens now? 💲💲
Most people are expecting a drawdown, I however expect this beast to go higher as it is now retesting the demand area at 15 300.
But nobody has ever been able to tame this behemoth of a beast. Let's just wait and see where it is headed. 😋🤷🏾♂️💵
#LetsGo , Secure the bag! 💰💰💰🔥💯
Long trade opportunity as price is at a level with a confluence of supporting factors (Trend Line, Horizontal Support & 200MA)
Indicators and recent price action suggesting a potential bottom being formed (details outline in the chart).
This is a weekly timeframe trade setup - Looking for an entry signal at around 5.50 (in the form of a bullish candlestick pattern) as this is likely to be a strong support level, I will look to take profit on half my position at around 6.50 and then hold the rest of my position to see if it breaks even higher as this is a longer term trade setup.
Stop loss is 1...
Wouldn't be surprised if we see a bounce here as price has fallen back to what I have identified and consider as a major support level, it's a confluence of a former breakout area, as well as a .618 retracement of a recent move... so looking for a buy signal at current levels for confirmation, e.g. engulfing candle or hammer candle for entry.
Setup pretty much speaks for itself but the trade idea is from a technical standing- price has come back into an area of value (Trendline Support) and we have an entry signal from today's daily close printing a bullish engulfing candle, for me this is a valid place to go long at the next session open.
This setup provides us with a 3:1 risk reward ratio which...
Last week I gave an analysis of EURNZD which went exactly as planned. This week I am looking for another entry if we could get another rejection of this trendline/horizontal support, targeting the upper trendline.
While not an Elliott guru looks like a nice abc down into a solid support area. Fib fan along with fibs and a trend line indicate might be a good buy low location. The triangle represents multiple layers of support, a wall of sorts. ROKUs business model isn't broken. People like their stuff and I think they'll have a strong following despite aapl, disney, etc.