MrDiamondHands

MrDiamondHands Updated 

Sellers came to play in the last two weeks, forming a classic shooting star doji two weeks ago followed by a confirmation candle last week. Given the time period, this is extremely strong evidence of a near term pullback. Unless some unforeseen news breaks in the next week or two, I am forecasting a couple of tough weeks for the stock with a draw down to $300.

MrDiamondHands Updated 

Stop Loss: 9300 Take Profit: 7800 Bulls took the price right up into this pivot and volume went through the roof as the price hit 9200. Within minutes, everything is unwinding and there is plenty of room to fall.

MrDiamondHands Updated 

Classic continuation pattern Stop loss: $8,700 would be a rejection Take profit: length of the "pole", in this case around $7,200

MrDiamondHands Updated 

Take profit = $1220 Stop loss = $1325 Currently sitting on a short term 50% fib retracement to the downside. Also resting slightly below its monthly pivot point (standard).

MrDiamondHands Updated 

So many indicators showing signs of reversal here: Linear Channel Regression Breakout (dotted yellow lines) Cross up and over the 100 Day MA (lime green solid line) Cross up and over the 1D Ichimoku Cloud (not pictured in my chart) Most notably, the inverse head & shoulders pattern has been confirmed. Might retest neckline, but based on the angle of this...

MrDiamondHands Updated 

Extension take profit level is $200 Stop loss is $110

MrDiamondHands Updated 

Getting this chart up for a long entry at $45.41, based on the 50% retracement holding at $44.68. Based on the prior scorching downtrend, really wanted to make sure that this held first. *My fib retracement tool is reversed to show extension levels* Take profit: $49.33 Stop loss: $43.75 Floor trader pivot gave support on S1 at around $42.50-$43. Someone pointed...

MrDiamondHands Updated 

On any given time period, you can place a box from a wick and span it across the chart. No interference of a price level usually means that outstanding orders still exist. Thus, buyers or sellers may be present at that level again to fight opposite of the trend since they were just pushing from those levels before. It's a great gauge to understand how much price...

MrDiamondHands Updated 

After the recent breakout from $285 to $170, price has consolidated and begun to converge between $195 and $225. This movement is causing a pennant or flag formation which usually signals continuation of the trend. Thus, I am looking at a downward breakout below $200 to enter a short position and take profit at $85. Take profit level is decided by reducing price...

MrDiamondHands Updated 

This pattern is not complete, but it is getting close. Confirmation of this pattern will occur if index closes below 23400. If that happens, we will likely be entering a mid/long-term bear market for many stocks. More info on this pattern can be found at: www.investopedia.com

MrDiamondHands Updated 

61.8% Fibonacci Pullback held a few months ago at 1.24656. Shorting then would have been perfect. Since the trend is still in early stages, I will short now with these stop loss and take profit levels: Take profit at 0.92344 Stop loss 1.1850 (see previous chart showing Inverted H&S forming. If 1.1850 level is hit, H&S would be formed and I would look to reverse...

MrDiamondHands Updated 

Reversal in progress, expecting a steady climb and potentially harsh upward breakout out of this short-term downward column.

MrDiamondHands Updated 

Price is showing solid support at $220, so it is possible that this is the bottom of a bear flag. With a bounce up toward $230, price is still in a middle ground where a clear direction can't be decided based on this pattern. Pending further price movement for a breakout above $250 or below $215.

MrDiamondHands Updated 

Standard descending triangle forming, and a clean break downward would mean selloff continuation. Enter breakout trade shorting at $270, distance between upper and lower trendlines is about $60, so take profit would be $210. Other patterns that can be drawn include bearish flag or bearish pennant. These theories use the length of the flagpole to establish take...

MrDiamondHands Updated 

Reversed my Fibonacci Retracement Tool to show the extensions. 61.8% pullback occurred at 88.951 and held perfectly. I didn't post a chart back then because I just noticed this pattern and how key that level was for a hold. The index moves so slow, it is still early enough to get in on long USD trades for the foreseeable future with leverage. Watch out as DXY...

MrDiamondHands Updated 

Shorter-term H&S confirmed, breakout should head to about 1.10. Take profit level depends on the height of the "head". Since its slanted and on a shorter time frame, I've measure about 0.04 worth of movement below the neckline. Stop loss at top of right shoulder.

MrDiamondHands Updated 

61.8% Fibonacci Retracement on DXY at 96.44. As you can see, my Fibonacci tool is reversed to show extension levels so the 38.2% indicator is actually the 61.8% pullback. Stop loss slightly below 61.8% if it is not bought up here; this last fib level is usually very precise and does not require a wide stop loss.

MrDiamondHands Updated 

S&P Futures just opened this Sunday afternoon about 40 points up, based on results from the meeting between USA and China at the G20 Summit. Beta of Ford Stock is 0.7229, and S&P Futures are currently up 45.50 points (1.65%) from Friday's session close. Of course, we will keep an eye on /ES futures as they continue to trade up until the market open tomorrow, but...