Based on Trader's Vic book "Methods of a Wall Street Master" (highly recommend) , VALE has now started an uptrend. See my post on PLBY very similar, was a great trade, I'm hoping for the same here ... of course I could be completely wrong RESPECT STOP LOSS . Market has been TOUGH lately. I have a STARTER position of commons.
Things that appear good from a...
Great book by Victor Sperandeo "Trader Vic - Methods of a wall street master" , specifically the section on drawing correct trendlines.
I see a lot of traders (including some times myself) drawing wrong trendlines especially if they are bias to long or short.
Per Trader Vic - For a downtrend within the period of consideration, draw a line from the highest...
Long positions can be taken:
- 123 trend change confirmed above 621.60
- Strong RSI
- Above 200 periods moving average
Enter above 668 or let the price touch the trendline first and then look for a bullish candle.
Trend change confirmed at 21.85 based on 123 trend change criteria.
Ascending triangle is broken.
The stock is above 200 MA
Next entry above 23.75
Target around 32.
Good luck!
Trend change confirmed above 29.20
The ascending triangle is broken in an upward trend
Targets at Fibonacci levels at 38.20 and 50
Potential for huge rewards!
Good luck!
State Bank of India Analysis
123 Trend change confirmed on 9 July 2020 upon the penetration of 8 June 2020 candle. According to Trader Vic method , long position can be taken here with a stop loss below 22 May 2020 candle.
We can see an inverse head and shoulder pattern forming, so we can wait for it to break to enter the trade safety. On 12 August a...
Electrolux trend change confirmed to bullish based on the 123 trend change criteria on 8th July 2020. That also marks as the ascending triangle break.
Entered the trade on 27th July upon re-test completion of the ascending triangle. The overall ascending triangle target is 228.
My first target is at 198, which is just below the area of resistance.
18th August...
