Daily demand Zone was Confirmed
Trendline Break, and re-test
Target: 75; risk/reward=1:4
I am not a Pro trader. I need few months to work on rule based trading strategies.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate consistently.
Appears to be trying to roll up after losing primary channel (blue). Generally bearish bias, with MACD bearish and RSI bearish as well.
Short term potential for a wedge breakout, rolling up into a volume shelf at the 52-53 level which could act as resistance, as well as previous support lost at 54.50 which would also act as resistance. Like to see these...
XOP Oil & Gas Production long term down trend was confirmed on 06-12-2020. This technical analysis was conducted using Swing•Genie Cycles on a 2-day chart.
Price is currently under several down gaps (red fill), Fibonacci 0.5, and 200 SMA (blue falling line), which will act as resistance to price moving higher. Support is provided by Fibonacci 0.382, Volume Point...
Add "MM_SMA_Swing" with input: Show SMA(50), Div (2.5%)
Drew trend lines, Verify the price action:
1. Wedge breakout to up side,
2. Pull back to re-test the trend line
Stop: 49; when trend line break
Target: 57; risk/reward=1:3
This is a trading school homework. I need few months to practice trading plan.
If you like it, thank you for your...
As always, idk what I'm doing. Just want to save this idea for the future. Let's see how it plays out. Let me know if you think I am way off base, or don't know anything.
RSI headed south while price still moving up slowly. Will the MMs fill that gap next week only to push it up again?
Looks like MMs averaged down in price earlier this week. May happen again...
In w/ Back Ratio Spread on this.
What do I have to lose. If It moves to retest $40. I will make $$$, If it goes ape **** and runs away to $60 I will keep the tiny $ credit from the spread.
As long as it doesnt chop in a range. I make $, whether it is $ or $$$$ is a waiting game.
Exploration & Production (E&P) stocks have rallied nearly 90% in just a month and a half but their recent relative strength vs Crude Oil would suggest it could still have much further upside.
The correlation between the E&P vs Oil ratio & E&P Stocks has been very strong historically and is recently at its lowest level of all-time.
In order for this relationship...