📈 What’s up investors! 📉
Welcome back to another one of
💡“Mike’s Ideas”.💡
I post as I find signals… these signals are based on the personal rules I have built and follow in order to make up what I call the “SST Strategy”. Follow for more ideas in the future!!
I have 4 levels marked and colour coded on the Chart.
These levels are:
⚪ White = Entry Point
🔴 Red =...
Not financial advice.
The essence of investing & trading is the intelligent and patient preying on the greed, fear, impatience, addiction and ignorance of the majority. It's definitionally Darwinian.
BAC is slowly forming signals that may suggest an up-move to be had. Currently I'm making this TA during market hours so I suggest you wait until market close to see if the TA still holds up. I believe we may see a move to the 44's since we are seeing a ema cross form on the Willy Oscillator. Not only is the willy oscillator forming a trend, but the squeeze...
Rising Wedge breakdown w Fibonacci spiral showing potential areas for downward trend movement
Weekly chart
Large time frame it is difficult to execute trades and lower time frames must be analysed in order for an accurate short.
Ascending Wedge pattern, usually proceeds in waves of three, this is a bearish reversal pattern. It can also be seen that a repeating pattern of a drop followed by a lower high can be present in three different situations, including the 2008 stock market drop, will it repeat itself again? Probably.
BAC is approaching our first resistance where we might see a corresponding drop below this level to our first support level. Stochastic is also approaching resistance where we might be seeing a corresponding drop in price.
BAC is approaching our first support at 17.97 (horizontal pullback support, 50% fibonacci retracement, 100% fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 25.46 (horizontal overlap resistance 50% fibonacci retracement, 61.8% fibonacci extension.
Stochastic (89,5,3) is also approaching support...
BAC is approaching our first support at 22.13 (horizontal swing low support, 50% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 26.34 (horizontal pullback resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also approaching our...
