Same idea as LCID, Look in the left how the last bear flag played out, and again we are seeing the same pattern.
The only difference is that it seems that price broke below the bottom of the channel.
Could see 8.60
Being in the daily Time frame, i will probably wait until wednesday to see what happens, but a rejection off this bottom trendline, could play long (with time, maybe Octover calls) and try to ride it to the top of the channel,
Downside comes if the flag breaks down, targeting 13.40
Beautiful descending triangle pattern.
For the downside scenario, price must break below 69 which has been strong.
Below that we might see an acceleration to the downside towards 64
A break above 71.54 could have price moving towards 74
Keep both directions in play
I hope everyone had a great weekend.
AMD. Here is a quick review of a few possibilities and ideas.
I have been tracking this very large ascending channel (black line)
Last Friday, price broke down below the trendline, we can consider a quick retest on smaller time frames (not a strong retest) and price kept on moving lower.
One of my rules to trade breakouts /...
A couple of things to track on BA
1- Ascending triangle on the hourly chart with resistance at 141.40. This level has rejected many times now. Above that we could start moving higher towards 143.40
2- There is a rectangle that has formed while consolidating sideways with the same resistance level 141.40
I will be watching this name to see in which direction it...
Massive descending channel on ZS with a possible retest of upper trendline.
If you zoom in on a smaller time frame (1HR) you can clear see some resistance at 163.94 / 164 level. This level has been holding for a week now.
If that level breaks, there is not much resistance until 186 which is 5/22 lows and trendline from the highs in December. A great R:R trade.
Coming into the next few sessions, SPY is all about the 406.35 level in my opinion.
This level was resistance late May and have become support (2x) last week. Price also broke a trendline from the 380s lows last month.
If we come to retest this level again, I am not so sure it will hold.
Below 406.35 we have 404 and below that 398
Long would be only above...
Price for a while couldnt break 411.50 support (left) and after it broke, it tried to reclaim it many times and trade above it, but the level proved to be a strong resistance and pivot to the upside.
Supports: 347.16 - below that can see 325.15 and below 308.23
Only interested in the upside if we break 411.50
From left to right on the chart.
Price established support at 151 / 152 level and after it lost it, price dropped to a new low at 140 (also psychological)
From there we had a mini rally towards 150 forming an ascending wedge. Once the wedge broke,(great short trade) we saw price just collapsing and not only retesting the bottom of the wedge but making a new low...
Seems like an inverted head and shoulders is forming on TSLA (1hr)
The left shoulder and pivot price being $680.20
A failure of that support to hold, we might retest lows at 615 (strong support, head) and 600 (psychological level)
If market bounces and we can form a right shoulder at $680 (rejection and support) we could push higher towards 785 (base)
SPY has been playing out nicely the past few weeks.
As I mentioned before, I am not holding positions over night, only day trading and the levels and patterns have been on point.
Since the last pattern I posted (Inverted Head and Shoulders) SPY just moved as i expected. From the Inverted H&S break it formed an ascending channel which broke on Friday to the...