This is a simple idea I've been contemplating, specially appliccable for people using 1broker to trade, while holding BTC. If you trade with no leverage, you can afford to have things move down quite a bit before being hard stopped (losing 84% of the position's value), so this lets you keep a 'cash' savings account, holding BTC and some stock CFDs.
(This same idea ...
A smaller re-accumulation pattern within a larger 6 month long re-accumulation pattern. Culminating in a smaller/larger TSO (Terminal Shakeout). This trade offers an excellent reward:risk profile of 4.5:1 at the current level. Ideally, we wait for a JTC (Jump of the Creek) on the smaller pattern, followed by a BUC (Back Up to the Creek) on low volume; this would ...
D1 - Price moving inside range, bullish divergence is forming.
H4 - If we get this H4 cycle inside the D1 range we can look for buys in the short term, as long as the bottom of the range is holding.
There is already divergence and price reacted from the 61.8% fibo retracement
D1 - Bearish Scenario
In case the range is broken down we can expect the price to ...
BAC
(Code-Name_Virtue) Minor Trend Analysis
Historically price has traded into a three point reversal shown on the chart as a connecting line plotting 3 points (ABC) along the peaks and valleys. Within this three point reversal a Double Bottom chart pattern has formed and broke out. Towards the end of last week price traded outside the neckline of this chart ...
| BAC |
(Code-Name_Virtue)
This is an update for the idea released on 8.10.17 | Price had diverged from the original Falling Wedge formation on 8.10 and reformed a new Falling Wedge right above the cloud. Most of the analysis from 8.10 still applies: Price is still trading in a very strong support zone with a lot of very strong pivot points that has historically ...
BAC | Price has formed a falling wedge and is now resting at a major support zone. There are many strong pivot points in the support zone that has closed price in consolidation numerous times over the past 5 months. There is only 12 cents of volatility left inside the wedge which is indicating a bullish breakout as well as bullish confluence about 30 cents above ...
BAC is at this moment in the 25.00 resistance with a nice shooting star, with a possible double top with the neck at 23.60. Even though we don't have a nice volume, if the shooting star is confirmed I would go short.
KL: 24.80
SL: 25.40
TP1: 23.60
TP2: 22.70
Looking at Bank of America it's clearly been on a bull run since the elections of last November along with the rest of the financial market. As the Conservatives control congress, optimism may well continue to rule the day.
All the banks are looking really well setup for higher prices. Watching BAC for continued upward movement through the last wing high. Will watch for RSI to make a new high as well. Friday volume was really solid.
