Get started

Breakoutretest

UMABTC 8h long setup; Breakout of 1.5 year downtrendTA explained Starting with the bigger picture for UMA using the 1W TF. A long lasting downtrend (starting at Sept 2020) was broken at the start of November with a very strong bullish weekly candle, after which the price pullback and retested the broken TL. Zooming into the 8H TF we can see two interesting things. First we see the price retested the descending TL twice. Second interesting fact is the second time it tested the trendline it also aligns with the center of the demand zone on the left. Last thing to consider is the break of the local descending trendline. After getting rejected 3 times, the fourth time price was able to break through. With this little pullback we might already start the upward continuation. If not a deeper retracement could happen by retesting the latest low and creating a double bottom which would give us our second entry as well: Trade setup Entry zone: 0.0002022 - 0.0002174 TP1: 0.0003279 TP2: 0.0004411 TP3: 0.0005539 SL: 0.0001745 RR: 9.93 Max leverage: na ————— MDSquared Crypto Lounge ————— Do Your Own Research (of course) Trade at own risk (of course) Only trade what you can afford to lose (of course)
Long
by MattieDsCryptoLounge
$WMT Sitting at strong support going into ERNYSE:WMT Wal-Mart is sitting at what should be a strong area of support going into its quarterly ER this Thursday. Strictly technically speaking, this is a convergence of multiple supports that should provide a stop to the selling pressure. There is a horizontal former resistance that should turn support, an uptrend support line, and the 125 MA all in a cluster right around the 105 area. In addition to this, there is a strong short term bullish divergence in the RSI. Typically this is an ideal area to look for a bounce, when the price drops, bounces slightly, then drops further than the initial drop. If the RSI from the secondary drop stays quite a bit higher than from the initial drop in my experience this provides a strong indication of reversal. One final note technically speaking is that WMT recently broke out of a consolidation pattern to reach its ATH's, and this drop represents what many like to think of as an ideal entry point--the retest of the breakout area. Add it all up and it looks like the spot where I want to take my chances going long on Wal-Mart, even knowing the headwinds retail has faced across the board. Because of the expectations of retail difficulties, any sort of surprise positive result will likely send this thing flying well past it's ATH's. So, I have bought some shares here at 105.25 (only 5 shares) and have also took a shot with Sep 20th C120 at .17 apiece (5 contracts). Total risked is only just over 600 bucks, with possible returns far far outweighing possible losses at this point. Stop at 102.5, selling options either worthless or at WMT 115 by end of August. Happy hunting and GLTA!!
NYSE:WMTLong
by UnknownUnicorn1314136