checking out XLF and saw banks are down again today , we can continue selling into tomorrow thus I checked out one of my favorite bank stocks $BAC . break below 41.08 (or 41 if you like flat numbers) we can see 40.18 , even down to 39.85 . 40.5 cons are at .16 / 40p are .08
that's just my humble opinion though , do your due diligence . NFA
SNIPER STRATEGY (new version)
It works ALMOST ON ANY CHART.
It produces Weak, Medium and Strong signals based on consisting elements.
NOT ALL TARGETS CAN BE ACHIEVED, let's make that clear.
TARGETS OR ENTRY PRICES ARE STRONG SUPPORT AND RESISTANCE LEVELS.
ENTRY PRICE BLACK COLOR
TARGETS GREEN COLOR
STOP LOSS RED COLOR
DO NOT USE THIS...
SNIPER STRATEGY
This magical strategy works like a clock on almost any charts
Although I have to say it can’t predict pullbacks, so I do not suggest this strategy for leverage trading.
It will not give you the whole wave like any other strategy out there but it will give you huge part of the wave.
The best timeframe for this strategy is Daily, Weekly and Monthly...
-Bearish engufling candle today
-Bearish MACD cross
-Continued weakness going into year end
-Looking for gap fill to $27.50ish
-Then move to $27ish
-If $26.30 breaks, could see move back down to $25
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...
