After a huge plunge in Dec 2021, RETA had been consolidating in a wide range for the past 11 months. It's 200 day moving average has begun to flatten out since 27 September and the stock has also started to trade above this moving average since 14 Oct. The 200 day moving average have been tested a couple of times since and has proven to be the support so far (@...
QQQ broke above a minor neckline @ 284.50 last Friday and looks set to head higher in the coming days towards the 200 day moving average cum trendline resistence around 308-313. The odds of QQQ (NDX) reaching this level has increased as it is now taking the lead among the 3 indices (namely DJI, SPX and NDX). This means traders are now in "Risk-On" mode and piling...
Welcome back! Let me know your thoughts in the comments! **USDCAD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your...
LOCO's decline had been flattening out in the past few months and the 1st hint that the worst could be over was on 13 October when it gapped up 14% on huge volume. Not long later it went into a sideway consolidation for nearly 3 weeks before staging another strong break out of this consolidation last Friday on earnings beat. The stock is now above it's 200 day...
An inverse H&S that formed over the last 5 months cummulating in a breakup yesterday. The marked increase in volume in the past week is encouraing and while the low of 173 on 17July (69% fall form it's peak) is likely to be "the low", it is probaby prudent to only buy small amounts now (in view of overall market volatility) and to add if we we a dip back towards...
$XBI biotech ETF developing a possible inverted head and shoulders bottom formation neckline breakout 93.50
The price action presents a Butterfly Harmonic in process, in pullback to neckline of the Head and Shoulders formation. This micro consolidation seems to be forming a descending broadening wedge before the potential swing downward to complete the 2nd phase of the CB leg down. 14.6% of Fibonacci retracement target.
Hi traders, USDCAD is setting up for a downside move watch price action and look for short GOOD LUCK.
Hi traders, EURCAD is setting up for a down side move watch price action on EURCAD and look for short. NOTE : My view or idea is just a technical base not combined with fundamental GOOD LUCK.
Looking the huge volume accumulation in the last 3 days, there is a chance that ILMN is going to breakout of an inverse H&S neckline soon. So let's watch! If it does break up, it should not retrace below the neckline again (if it does, consider this a failed inverse H&S). Theoretical inverse H&S targe @ 308 (which incidentally is also the 38% fibonacci...
Welcome back! Let me know your thoughts in the comments! **AUDUSD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your...
Short Call! OANDA:NZDJPY Hello! NZD/JPY has been in a good bear run after it got rejected by the Triple Top! Triple Top Neckline Broke! Best of Luck!
Welcome back! Let me know your thoughts in the comments! **AUDJPY - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your...
CROX has the potential for a bigger run as it broke out of an Adam and Eve formation with strong volume, and prior to that there were already several strong volume days (stealth accumulation!) during the base formation. Any near term pullbacks will be opportunity to long, with the neckline likely to hold as immediate support (~$65). Could face some headwinds as...
Hi Traders, I hope you are all doing well today. It is Monday and the start of a brand new week. Let's smash those trades this week! Today I am looking at AUD/USD on the 4-hour time frame. We have an interesting double-bottom pattern playing out. I say interesting because the second bottom of the pattern wicked quite a bit lower than the first peak. Usually,...
Stertools has been on a downtrend since 2018. The stock has made a double bottom and currently at the neck line which is very strong supply zone of 250rs-260rs which coincides with 38.2% fib level. If the stock manages to give a weekly closing above 250rs and sustains the same in the following week, we might see a big upmove in this stock. Keep this stock in radar...
PLUG bounced from the key level 18.47 5x's! The most recent bounce occurred on July 8, 2022. Previous bounces from the key level occurred on the following dates- February 24, 2022, January 31, 2022, May 11, 2021, November 9, 2020. Identified patterns include- "Double Bottom" pattern inside of a "Falling Wedge" IMO PLUG looks good for a swing to the upside....
TSLA recently broke the trendline on the daily chart. It also broke the neckline on the "Double Bottom" pattern (see the daily timeframe). Since the break of the trendline and time of the post, TSLA has moved approximately 51 points above the break. A screenshot is provided below for quick reference. Have a great weekend, MrALtrades00