$ROSE is lower after earnings. Looking at the weekly chart it is range bound in this big rectangle. 16$ is support from lows in late January and mid March. 16$ can be a short targets because of it's snap back rallies to the top of the range. The top is only two weekly bars from the January low and it was above 25$ The breakdown below 32$ in November of last year...
1. Rectangle pattern (buy low sell high) 2. Strong support 3. WW pattern wave 4 almost complete 4. Symmetrical Triangle within WW 5. Play the range 6. Break and close (D1) of support signals SELL OFF Target 1: 1.2605 Take Profit: 1.2690 R
Hi all Fellow Risk Takers, Here is an update on the "Preemptive Break Out Idea for DirecTV" PREVIOUSLY The main concept was to enter long DTV when price was cheap at $84.00, trusting that support buying will come in and push prices higher, leading to an eventual Rectangle Pattern breakout. Three Scenarios, labelled A, B and C were projected. Worst case...
This continuation play is somewhat related (call it the prelude) to the trade idea linked under "Related Ideas". After the strong US jobs report on Friday, this pair became instantly bullish and gained 185 pips. We now have a bullish rectangle developing on the hourly, which could serve as an entry pattern for a continuation of the trend. Inside the rectangle...
Hi all Fellow Risk Takers, Here is an update on the "Preemptive Break Out Idea for DirecTV" (1) The main concept was to enter long DTV when price was cheap at $84.00, trusting that support buying will come in and push prices higher, leading to an eventual breakout. Three Scenarios, labelled (A), (B) and (C), were projected. Worst case scenario (C), where price...
Hi Fellow Risk Takers, Here is an idea that is more complicated and may not be suitable for novice traders or the faint-hearted. It is essentially a “Pre-emptive” Break Out idea and it requires guts and precision to execute. (1) DirecTV (DTV) has been trading in an accelerated up trend line, from March 2013 to May 2014. During this period, price has risen from...
IP has been trading along an uptrend line, from June 2012 to June 2013, reaching as high as $48.68. However from June 2013 to now, price has been consolidating sideways between $43 to $50, for about 15 months. This is essentially a very clear Rectangle chart pattern, which indicates a pause in the upward trend in , with an intention to resume the uptrend in...