INGA - dutch bank - outlookHad a great run with INGA, then the sell-off from the top.
Stochastics on weekly say we have downward momentum still. INGA is holding at the first green line (support) and if it breaks will move to the next green line (1 channel lower) if that breaks.... etc. etc.
If INGA manages to break the red resistance line we will have a breakout and can go in for a swing trade.
I am neither overly bullish or bearish on INGA right now, it could go eitherway. The bank is healthy and well funded, covid is not over yet, let's see what happens and trade accordingly!
Remember, just trade the chart, not the company!
Banks
Commonwealth Bank Long Setup After seeing the Banks in a major consolidation for almost 5 years now it seemed like an appropriate time to back them based on the long term bull channel with strong support levels.
No current material Take Profit in mind with discounted shares bought for long term dividend reinvestment plans being the goal for this one.
Based on where we are in the channel it probably is still a relatively discounted period if that next horizontal support does not cause a turn around.
Do your own research!
Happy Trading
Canadian banks offer high-yielding cushion in a correction.If you're worried that growth stocks (the tech and now healthcare stocks) are just ridiculously valued, then perhaps you should think about Canadian bank stocks as a potential cushion against a potential market correction. Earnings beat analyst expectations. Yields are in excess of 4%. Loan loss provisions will gradually find their way back into bank earnings as the economy recovers next year. The steepening yield curve also bodes well for future earnings growth.
Is $62 in the cards? #stocksBanks continue to surge pricing in a recovery. The Model gave us great trade location so now we are just playing with house money. We think 62 is in the cards which would be a completion of the wave formation.
Ingenuity Trading Model is an algorithm used in- Stock, Forex, Futures, and Crypto markets. The model is a Geometric Markov Model :
In probability theory, a Markov model is a stochastic model used to predict randomly changing systems. Markov Models are used in all aspects of life from Google search to daily weather forecast. The randomly changing systems we focus on are the equity, futures, and forex markets. The geometric element of the model is the fractal sine wave structure you can find on any chart you look at across any market and across all time dimensions.
Our model focuses on the current sine wave formation (current state)- geometric price formation along with its volume and volatility over a given time period and using that information to predict the future state- future price movement. For questions or more information feel free to contact me in the comment section or via private chat
BankNifty 2 Dec 2020Nears to a sub triangle breakout inside the main channel, Looks like reaching an end of a trend
If the market opens With
A gap up there can be a small move uptrend followed by a heavy downtrend
A gap down a retest to the same level is possible followed by a downtrend
Close to prev close, We might see a range market or minor up trend
ASX:NAB Cup and Handle formation ?? 🚨🚨The banks have been smashed since the pandemic started but apparently one of them is preparing to fly higher. That is ASX:NAB bank, from the technical analysis it is showing a promising chart pattern.
From the chart, we can draw a cup and handle formation that has been forming for weeks. Besides the stock has crossed its 200MA after being glued to it for almost 2 weeks and suddenly jumped on a higher volume.
These factors allow us to speculate that this stock is poised to go play in the bulls league.
Although RSI is a bit overbought but from other technicals this stock looks great and it can be lucrative for next few days if not months.
I will keep you updated of all the movements this stock play. Stay safe and have profitable trades.
XTF
Despite recent fines and underperformanceDespite recent fines and underperformance Citi maybe be forming a potential bottom. Bank shares seem to be on the rise so there can be sector tailwinds for the name. Director Jay Jacobs has made the largest public stock purchase in over 5 years. Although the narrative on financials seems to be more positive we will let the model signal when to buy.
FAKEOUT: XAUUSD GOLD SUPPLY ZONE UPDATE 1925.00 CRITICAL LEVELSo now we can see what has happened and what went wrong on our trade yesterday. We can see how price pushed up through the zone to gather more liquidity. The price faked out through our zone, trapped the buyers and reversed. Nothing to worry about - only a 1% loss. IF he had a higher stop loss we could have managed to stay in it. 1925.00 was a key level for gold.
AUDNZD- Valid shorts or market manipulation?As we can see price has now confirmed this lower low, but is it just the markets trying to manipulate us retail traders to fulfil our stops? We need to wait to see how price develops on the 4Hour chart, any wick closes will signal the orders have been met and it is valid to enter a short.
Financials in trouble200sma has been a strong resistance since the March drop. The red circles show 4 times trying to get to it.
Placing fibonacci retracement lines shows confluence with a support level (green rectangle from late June --> early July)
The 20sma crossed below the 50sma on September 27th. (Bearish signal trend model)
Also, if we close at the current price, we are getting a bearish engulfing candle.
I would feel comfortable getting in around $22.7, being fundamentally bullish on the sector.