3E2 trade ideas
etsy hi there.
1st phase : I see this stocks are running some bear motive is active, that's why i see there is 2 phase is on my mind and eyes. causes market is reactive not predictive. at this moment if market close bellow 210 then first drop area is 198.50 but if cross this level 198.50 then market go down 166.02.
2nd phase : if market close above 198.50 and give us a bullish motive then we can easily achieve 250 range.
lest see what happen in market. you can see my previous analysis . see u later and stay with me for future analysis and reference.
link bellow
Trading The Behaviour with Stocks - ETSY perfect exampleIn this quick video recap we discuss using our ElliottWave Indicator suite when trading the behaviour of stocks after profit taking pullbacks. As they say, when its trending - its trending. You just need a set of tools to measure the behaviour in a simple and consistent way. ETSY is behaving very well this last 12 months and is a great example of trading the 5th wave move of an elliottwave sequence.
ETSYETSY 1/10/21 1D TimeFrame
1. Price action traded outside channel, did a pullback and seems like upper channel boundary acted as a good support where price bounce back for a bullish move.
2. MACD lines seems to converge together and histogram shows a weakening bearish momentum.
3. Stochastics looks oversold ready for a bullish move.
Disclaimer
I do not know how the market will move tomorrow. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for practice, informational and entrainment purposes only as I am not a registered investment advisor and do not offer investment advice and recommendation. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.
Etsy downtrend breakoutWhite lines : is weekly channel dating back to March
Red lines : Uptrend channel
Yellows line: downtrend
Volume isn't much to write home about but Etsy might be in play with the news of new stimulus; Ecommerce stocks seem to love it.
Fell off after a nice xmas run but broke downtrend (Yellowline) and found support on top of it weekly channel(Whiteline).
Targets are Greenlines
ETSY ShortEtsy seems to have bounced off its resistance today at 190. The short position for Jan 20 seems ready to go. Looking at its RSI and typical chart pattern, Etsy is overbought at the moment and it reaching newer highs seems unlikely for the time being. I will be looking for it to hit its support of 150.