Long
PLTR: come to make some $ today 7/18
Where it might be headed today.
Trendlines:
There are upward trendlines indicating an overall bullish trend on the 4-hour chart.
The price has recently pulled back to touch the lower trendline, which might act as support.
Volume Profile:
The Volume Profile shows significant volume nodes around the $28.35 and $28.00 levels, indicating strong support/resistance in these areas.
Moving Averages:
The 50-period moving average is acting as dynamic support/resistance.
The price is currently near this moving average, which might act as a pivot point.
MACD Indicator:
The MACD histogram shows a potential bullish crossover, which can be an early sign of upward momentum.
The MACD line is approaching the signal line from below, which can indicate a buy signal if it crosses.
Support and Resistance Levels:
Support: Around $28.00 and $27.00 (previous lows and volume node).
Resistance: Around $29.00 and $29.50 (previous highs and volume node).
Technical Analysis and Predictions
Support and Resistance:
Immediate Support: $28.00
Immediate Resistance: $29.00
Price Action:
The price is consolidating near the support level of $28.35. If it holds, we can expect a bounce back towards the next resistance level.
If the price breaks below $28.00, it might test the next support around $27.00.
Indicators:
The MACD suggests a potential bullish move if the crossover completes.
The price action near the moving average and trendline support indicates a possible reversal.
Trade Plan
Intraday Strategy:
Entry:
Long Position: If the price holds above $28.35 and shows bullish momentum, enter a long position with a target of $29.00.
Short Position: If the price breaks below $28.00 with strong volume, enter a short position with a target of $27.00.
Stop-Loss:
For Long Position: Place a stop-loss below $28.00.
For Short Position: Place a stop-loss above $28.50.
Profit Target:
For Long Position: Set a profit target around $29.00 and $29.50.
For Short Position: Set a profit target around $27.50 and $27.00.
Swing Trading Strategy:
Entry:
Long Position: If the price shows strong support at $28.35 and the MACD confirms the bullish crossover, consider entering a long position for a swing trade.
Short Position: If the price breaks below $28.00 and shows continued bearish momentum, consider entering a short position.
Stop-Loss:
For Long Position: Place a stop-loss below $27.50.
For Short Position: Place a stop-loss above $28.50.
Profit Target:
For Long Position: Set a profit target at $30.00.
For Short Position: Set a profit target at $27.00.
Summary
Bullish Scenario: If the price holds above $28.35, we might see a move towards $29.00 and potentially $29.50.
Bearish Scenario: If the price breaks below $28.00, the next support levels are $27.50 and $27.00.
Keep an eye on the volume and the MACD crossover for confirmation of the trend direction. Use the outlined entry and exit points along with stop-loss levels to manage risk effectively.
Trendlines:
There are upward trendlines indicating an overall bullish trend on the 4-hour chart.
The price has recently pulled back to touch the lower trendline, which might act as support.
Volume Profile:
The Volume Profile shows significant volume nodes around the $28.35 and $28.00 levels, indicating strong support/resistance in these areas.
Moving Averages:
The 50-period moving average is acting as dynamic support/resistance.
The price is currently near this moving average, which might act as a pivot point.
MACD Indicator:
The MACD histogram shows a potential bullish crossover, which can be an early sign of upward momentum.
The MACD line is approaching the signal line from below, which can indicate a buy signal if it crosses.
Support and Resistance Levels:
Support: Around $28.00 and $27.00 (previous lows and volume node).
Resistance: Around $29.00 and $29.50 (previous highs and volume node).
Technical Analysis and Predictions
Support and Resistance:
Immediate Support: $28.00
Immediate Resistance: $29.00
Price Action:
The price is consolidating near the support level of $28.35. If it holds, we can expect a bounce back towards the next resistance level.
If the price breaks below $28.00, it might test the next support around $27.00.
Indicators:
The MACD suggests a potential bullish move if the crossover completes.
The price action near the moving average and trendline support indicates a possible reversal.
Trade Plan
Intraday Strategy:
Entry:
Long Position: If the price holds above $28.35 and shows bullish momentum, enter a long position with a target of $29.00.
Short Position: If the price breaks below $28.00 with strong volume, enter a short position with a target of $27.00.
Stop-Loss:
For Long Position: Place a stop-loss below $28.00.
For Short Position: Place a stop-loss above $28.50.
Profit Target:
For Long Position: Set a profit target around $29.00 and $29.50.
For Short Position: Set a profit target around $27.50 and $27.00.
Swing Trading Strategy:
Entry:
Long Position: If the price shows strong support at $28.35 and the MACD confirms the bullish crossover, consider entering a long position for a swing trade.
Short Position: If the price breaks below $28.00 and shows continued bearish momentum, consider entering a short position.
Stop-Loss:
For Long Position: Place a stop-loss below $27.50.
For Short Position: Place a stop-loss above $28.50.
Profit Target:
For Long Position: Set a profit target at $30.00.
For Short Position: Set a profit target at $27.00.
Summary
Bullish Scenario: If the price holds above $28.35, we might see a move towards $29.00 and potentially $29.50.
Bearish Scenario: If the price breaks below $28.00, the next support levels are $27.50 and $27.00.
Keep an eye on the volume and the MACD crossover for confirmation of the trend direction. Use the outlined entry and exit points along with stop-loss levels to manage risk effectively.
Note
All targets hit at 29.50. We have closed both scalping and intraday positions. I had previously posted in the wrong place on another TA, so I'm reposting here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.