danbeaulieu

danbeaulieu Updated 

We're reviewing AAPL on a daily basis for the month of July. This is the second chart study, you can find yesterdays link attached. The goal of these is to teach some chart concepts while creating an actionable trading plan. Comparative Analysis (Compare to broader market) Volume Spread Analysis Conclusion & Trading Plan We’ll skip the Trend...

danbeaulieu Updated 

AAPL is the chart that our members chose in chat for me to review daily. This chart study will include the following: Trend Analysis Comparative Analysis (Compare to broader market) Volume Spread Analysis Conclusion & Trading Plan Please note, my goal is never to predict. It's to analyze the market and produce reasonable trading plans based on my...

danbeaulieu Updated 

Looks like a classic Wyckoff accumulation pattern. I'll be looking to enter long.

danbeaulieu

This price structure looks like Wyckoff accumulation.

danbeaulieu Updated 

I'm looking for a pullback to add to longs for 3000+

danbeaulieu Updated 

On the daily chart I am becoming a bit concerned about overall momentum and this $126.71 level. If we lose that level we could quickly see $111-$112 area. I'll post a new daily chart soon that illustrates my concern. For now, that level hasn't broken so we need to keep our bias in check and play what the chart gives us. I haven't added any new lines to my...

danbeaulieu

On my previous watchlist I was looking for AMZN to pull back but then pick up some momentum, I had the pullback part right, of the two price points I mentioned $1866.01 and 1853.66 , we pulled back deep to 1853.66 area. I'm still bullish on the daily timeframe and find this area to be decent risk reward if we catch a bid here at $1854 area. Look at the chart...

danbeaulieu

AMZN has just secured a higher low on larger time frames and I think we're slowly working our way back towards $1900. I'm cautiously bullish right now and think we can see 1901-1906 today. Watching the volume node on the volume profile, we should see some resistance if we can get up to $1894 through $1906. If we can get above that we can see another attempt at...

danbeaulieu Updated 

I still have a long bias (refer to initial daily chart) but I'm sitting on my hands for the moment. I'm cautiously watching this rising wedge form with the lower indicators confirming consolidation. Volume is fading, which occurs in consolidation and RSI is falling as well. While rising wedges can break to the upside, the implication is a break to the downside. If...

danbeaulieu Updated 

Had a few comments about the number of lines I have here. If you pay close attention they often come into play throughout the day. That said, some are more important than others on a day to day basis, so I've made the more important levels bolder and brighter. So we nailed the bounce a few days back (post linked) but we've stalled out in the middle of the chop....

danbeaulieu Updated 

On Friday, I gave a very clear buy level , I hope some of you entered near $126.71. Today we're in a different situation, we've moved up around $8 since the buy level and we're sitting just below the volume profile's point of control so the risk is now elevated. Based on chart history I think we'll pull back at the open, we'll have to see if the ROKU bulls have...

danbeaulieu Updated 

ROKU is putting in lower highs in this chop. But we're nearing a swing setup as we draw closer to $126.71. resistance We'll clean these lines up a bit over the weekend. The first level up that I care about is 136.81, followed by 139.43 area. I think, if we open bullish but don't have news, we'll struggle with $141.05 if we can even get to that level today. ...

danbeaulieu

At this level I'm cautiously long. I see this price action as consolidation for the next leg up. Momentum has faded substantially on the hourly charts, but we still look strong on the daily timeframe. In my previous update (linked) I mentioned $1917.51 as an important level. Its the first level I'm watching today followed by $1925.56 which is a historic level...

danbeaulieu Updated 

Interesting night last night... pre-market isn't compelling in either direction so I'm not going to try to predict direction. To my eyes, both AMZN and the market could go either way. I will note that we are trading a lot of volume at this price, which would great a good support level for bulls if we can hold above that $1901.82 area. resistance levels...

danbeaulieu Updated 

If you take a look back at my previous posts, we called the rejection area pretty well. ROKU's premarket activity isn't compelling me in either direction this morning. Since we now have a decent amount of levels, I'm making the levels that stand out to me most thicker and whiter. resistance Fist resistance level I'm watching is $141.05, though I do have a...

danbeaulieu Updated 

We've been tracking AMZN for a few days now. View my initial post here : We're sitting on top of our key level the 61.8% retracement level off of all time high ($1901.88). We've respected this level historically and again in recent history. If we can turn it into support , I very much like a swing entry towards $1942 or better from this level. I've zoomed out...

danbeaulieu

Yesterdays move was bold and quite a bit more powerful than expected. Take a moment to review my chart from yesterday, this boxed in area we're currently creeping into should pose a challenge. resistance We have an unconfirmed trend-line to keep an eye on, I've used a dotted line to signify that this trend does not have 3 touches, so it is not...

danbeaulieu Updated 

Summary Provided market stays bullish I believe AMZN poses a good risk reward setup based on an extended consolidation period and high volume breakout with retest. Analysis Let's focus on this light gray box I've drawn that ranges from 1818.89 to 1830.77 and spans the width of the chart. Support and resistance are often fuzzier than one specific line, in...