It's bullish baby!!! It will rebound.I am working outside my comfort zone today! I usually stick to the DIA or the SPY or SLV, but I am trying to expand my horizons . I may even try another chart if I have time.
You should be able to trade any stock or asset regardless of what it is. All charts are the same. It just has a different title on it. I got this stock suggestion of it being bullish from a group I joined.
So using the information I have gained over time and based on this chart, I will try to analyze this chart.
I am using the Heikin Ashi candlesticks.
1) They show more of a directional movement within candlesticks.
2) They tend to filter out the market noise so you can see the market direction better.
3) It reduces false signals, allowing you to stay in the trade longer.
4) And, it also gives you a smoother appearance making it easier to see trends and reversals.
But I often switch between regular candlesticks as those are the candlesticks I started trading with and I still do get a little bit of information from the regular candlesticks.
I think we had an descending triangle forming on the ATD with the tip forming on Friday, August 15th.
Usually, the chart can exit 2/3 before the tip. So it can start exiting the triangle before now and August 15, 2025 usually with some fundamental trigger.
It can either exit up or down at the tip but I suspected that the market will exit up given the daily indicators suggesting a move upward.
The DMI on the daily chart is indicating abullish move.
The Stoch RSI is just crossing over to a bullish move, and
The MacD has just started to indicate a bullish move with a bar color change.
TARGETS:
Targets:
7 point move: 75.54
0.618 to 0.786 fib move
12 day move: August 29, 2025
**If it hits one of these targets, I am out of my trade.
STOPS:
1) the low of the previous Heikin Ashi candlestick,
2) 2 red Heikin Ashi candlesticks,
3) a specific dollar amount for a total loss for my trade or
4) a specific dollar amount per contract.
**If it hits one of those stops, I am out of my trade.
My trading plan only entails me to use 10% of my total account. If I am wrong on this trade, I will not implode my account.
Trade at your own risk, make sure you have both targets and stops in place, a trading plan in place and only use 3% or less of your account on each trade.
Happy Trading Everyone!
