Uptrend and pinbar on support. Potential reversal pattern and a lot of supply The key is knowing when the setup breaks down and need to get out of a trade
ZS tested a horizontal resistence turned support @ 163 yesterday, closing a bullish pin bar. Incidentally a bullish divergence between Price and RSI became apparent this morning as it opened with a gap up. Time to accmulate. However initial stop loss is currently at 160 (just below yesterday's pin bar low), hence position size accordingly to cater for this wide...
SNAP's trendline support is still valid. It bounced off this support on 8 March, swung up from 52 to 65 (forming a mini swing AB) before retracing almost all the way test near the trendline again today. After a scary start to the day (when SNAP was down more than 6%) , buying support came right near the trendline and recovered to form a bullish pin bar. It sure...
The FTSE is currently sat at strong support. Sellers tried to push price lower, but the index was bought back up to form a pinbar (red arrow). Lower BB also sits at this point (see %B in bottom window). Considering the lacklustre fall from the rising wedge and the subsequent pin bar, we can expect 6800 to break (see how long price spent lingering around the...
hello mates the price is getting too close to the level of a resistance that can be broken or go lower that previous level the target and the stop loss level is available in the video.
The daily chart formed yesterday a bullish Pinbar at a support level. There tends to be a continuation after a pattern like this. The FOMC meeting today will determine if there will be any.
This is why I think that this 4H pin bar may fail.
I take long position in ZIL Why ? - There is a confirmed pin bar candlestick - I set the entry to 23.6% fibonacci retracement - I set my take profit 61.8% fibonacci retracement, confirmed by the trend line that it still make sense
This is based on what I have learned on my failed setup (linked below). I have lower my target profit. It's not a good risk reward ratio, but we will see. Btw, I have wrote my own pinescript to detect pin bar candlestick hehe.
Hi guys, currrently I have lost 10% of my investment in just two days. I have blindly set buy order limit in support area, it hit my support area and also my stop loss 👀😅 Lessons learned. I have learn and do the following: 1. Identifying the trend in daily chart 2. Identifying Area of Value via support, resistance or key level. I have missed the last step:...
Sell DJI. Correction imminent. Trade at your own risk, GLTA!!
It is likely that this just just a steep correction (not a protracted bear market) hence we need to look beyond the fear for opportunities that do not come so often! SQ crashed 30% in just a little over 2 weeks. There is a strong support zone at 190-198, little would we expect that it will crash more than 10% today to test this zone before staging a strong...
The market "crash" has been hurting a lot of people pretty bad, less so for those who had adhere to strict stop losses. However, one must look beyond the "fear" and keep an eye for good buying opportunities in good quality stocks during such times. Telsa "crashed" into a support zone 500 - 550 today, hitting a low of 539 before recovering to possibly form a...