013A trade ideas
Arrows say it all.... hopefully JD oooooooooo JD are we creating a cup n handle? because it really looks like were creating a cup n handle short term Flag forming will drive price to 33 to finish the cup but then quickly turn after earnings on the 8th to start the handle formation bring the price to around 24 and a 22 for an extended correction wave. Obviously like most patterns this could be rejected and turn into something else but i like to think this plays out :)
White lines are resistance and support aswell as the fib lines being support for the handle.
overall view of past year
yellow lines are for the previous trend breakdown of the triangle but can be used as trend resistance/retest. It looks to have hit target if we played that previously (which I didn't) just showing it since it played out in purple.
If the cup and handle DOES end up forming correctly we should see a growth to a range of 45 and 46 doll hairs within the coming months shown in the white boxes.
enjoy everyone remember play whats already in front of you so the flag first flag breaks out play the head and shoulder top if it forms etc etc.
careful trading everyone and lets make this bread bread
Leroy out!
oh yeah and if the Cup n Handle fails I expect something of this nature because the volume in the middle of the dish has me a bit worried that this is a false pattern.
Awaiting confirmation for JD.COM, Currently in a nice uptrend chJD.COM has formed a pretty nice cup and handler pattern and successfully breakout.
Based on wyckof, to confirm a breakout, it has to retest back the previous resistance (current support) to assure that the stock will continue to rally
Technical Wise;
-Currently well rallying in an uptrend channel
- Forming a nice spring/hammer at the edge of the uptrend channel
Summary: A confirmation needed tomorrow to assure this counter will starts its next rally up !
Long $JDtomorrow looks like maybe a slight pullback to support just above $30/30.10
if it holds, some solid upside, otherwise it may continue in that descending channel. Looking for a bounce for an early entry, then sizing in if we can get a convincing breakout.
Let's go JD
ps. peep the golden cross that's imminent on the daily candle. Loooooong
JD: Strong bottom ideal for swing trading AND longer-term holdsJD.com Inc. has a solid and strong bottom formation that is working on completion, which will provide strong support for the next uptrend. These technical patterns are ideal for momentum and swing trading, position trading and also for long-term investing because the long bottom formation is built on Dark Pool accumulation.