ADI breakout to the downside!!higher time frame is showing defined downtrend and exhibiting trend strength- using moving averages as dynamic resistance/
support
-intermediate timeframe shows trend alignment to the downside and price pull back to short term moving average
-looking for it trade to pivot low of 78.58 and breakout to the downside on intermediate timeframe
-on the shorter time frame- it is also showing trend alignment and favors a higher probability favoring the trend to the downside
-price is also pulling back to the .236 retracement level of 78.98..would look to initiate position in that area to the ride back down and setting a tight stop over 79.0x area
-as price resumes downtrend on the intermediate timeframe- it should also translate to the lower time frame and breakdown past the pivot low of 78.58 and along with increased selling pressure towards the path of least resistance to 74.7x area (.618 extension level)
Trade ideas
ADI: Potential Bullish Setup, Low RSI Good Buy
My third post:
RSI < 40
Support of trendline
Potential Gartley Pattern setup.
If pattern completes, potential first target, 77.72.
I would enter long here despite gartley pattern not completing.
Hope you can give me some comments! would love some interaction!
Analog Devices on the hop?ADI has to overcome the consolidating downtrend.
If ADI could trade above the last valid mangenta "2" a longsignal would be generated. TPs on the way up could be 65,5 / 68,5$
Trading above 68,5$ will accelerate the upswing-move.
The Chart turns beraish with Prices below the last mangenta "3?" and in particular below the last red valid "2"
If you like it -like it!
$ADI pullback into support within uptrend = long opportunity1) ADI has retraced back to a validated uptrending support level
2) ADI has pulled back while pushing through its lower bollinger which should be viewed as a high volatility pull back long opportunity typical of most uptrends
3) Both the 100 simple moving day average and the 200 simple day moving average remain in a bullish configuration with the price above both
4) There is potential for horizontal price support to be validated at this level too (old resistance)
As always DYOR
Analog Devices - $ADI - Long from support zoneToday we have seen a drop of 2% with below average volume behind it.
This indicates to me that this move down is just a small correction and I will look to get a long position from my buy zone which is highlighted green.
Quite a simple set up and not much more to say about it!













