BRK.B Entry, Volume, Target, StopEntry: with price above 364.63
Volume: with volume greater than 5.4M
Target: 382.41 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up)
Stop: Depending on your risk tolerance; Based on an entry of 364.64, 355.75 gets you 2/1 Reward to Risk Ratio.
This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
Entrysignals
Key Levels and US Market Review for the Asian session open 22/03Share markets continued to press higher as they focus on the coming FOMC interest rate release. Concerns over the banking sector are on the back burner for now and expectations for no rate rise from the US Fed may now be baked into the price action. I expect to see the Fed Reserve raise rates by 25 basis points as they still have to battle higher inflation so we may see a late selloff into the US markets.
Asian markets will open stronger to follow on from the European and US sessions.
A review of the price action from the European session and the US session where I look at some key levels to watch and the price action setups I expect to see play out on the major markets below.
Markets covered :-
DOW
Nasdaq
DAX
FTSE
ASX200
Hang Seng
USD Index
Gold
Oil
Copper
Is the USDJPY setting up for a push lowerThe USDJPY recently pushed lower off the 106.000 zone and we see price is again hovering up at this resistance area. We are watching for weakness to come into the action especially if the USD index holds above the 90.000 area. Key area for us to watch now is around 105.769 and for a lower high shoulder to play out and pressure buyers for a move down.
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USDJPY range bound for now but it will not last longThe USDJPY is stuck between the 106.100 and 105.912 zones as price consolidates. We do not expect this action to last for too long as bulls and bears get on edge. The price could break either way but we are biased up for a continuation move to 106.500. Watching for a washout of 105.912 and then a higher low entry setup.
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ASX200 weakness is squeezing on bulls but will we see a selloffThe ASX200 has rolled over since the last alert and holding lower highs. Price is at an important crossroads now as it holds above 5970 and below 6010. A break up through 6010 will get the bulls excited and lead to a push up to 6200. A hold below 5925 and move down through 5970 will trigger further selling and pressure lower as buyers are forced to close out. We favour the sell side so will be watching for an entry of further weakness but either way, the next few days will be important.
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The NASDAQ finally took a breather off highs to slam buyersThe NASDAQ finally took some heat out of the action with a savage move down from the open yesterday. Price never looked back to continue lower into the close as sellers beat up the bulls. With all the negativity generated into major indexes, the trend up remains in tact for now. Until we see a break down through the 11400 area, expect to see the party continue.
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The DOW falls away from the highs getting bears excitedThe DOW could not push to new all time highs before some serious selling pressure stopped the music. The move down has some buyers concerned that we are about to take a beating but the trend up is still is tact. A move down through 27400 will change the tone dramatically and trigger another selloff but time will tell if new highs are still on the cards in the near term.
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The SP500 had a big move lower but is it time to panicThe SP500 shocked some bears into action with the savage move down off the highs but is it time to panic or just a clean out of late longs positions before continuation higher? For me, price will need to break down through 3390 before we expect to see some shorting opportunities. For now, it is still trend up and happy days until proven otherwise.
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The ASX200 is standing on the edge and looking over the cliffThe ASX200 is having a rough day as sellers beat up the bulls. Price has broken the uptrend but is holding above key support for now. A break down below 5850 and we may have a small problem but it will bring some volatility and good shorting opportunities.
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Bitcoin back down near support so is it going to base??!!Bitcoin was been hit down lower after buyers could not push prices higher through 12230 and ended getting squeezed out of the action on the break below 11000. Price now needs to hold the longer term MA and build a base around current levels before convincing buyers to have another crack at a another run higher.
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ASX200 up at highs as bulls keep the momentum goingIt seems that the ASX bulls are feeling left out as the US pushes to all time highs. Price is hovering just below the 6200 zone and continues to hold higher lows suggesting that a move up through the level is on the cards in the near term. If we see sellers start to get active up at current levels then watching for a lower high and move back down to clean out some weak buyers.
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Short term long with good Risk reward + formations probabilities6500 is being tested for the second time. While it is really early for a reversal, a short term pop to 7500 could be an interesting risk to reward with a stop loss at 6500.
If the second or third test falls just under 6500, then expect a dump and pay attention to where it bottoms out to clearly see what kind formation is coming.
Possible formations and probabilities:
Ascending triangle (35%) (1 week to finish)
Rising wedge (10%) (2-4 weeks to finish)
Price channel (45%) (1 week to confirm, 4-6 weeks to finish)
Descending wedge (5%) (2 weeks to confirm, 4/6 weeks to fin)
Inv head n shoulder (5%) (2-3 weeks to confirm)
quick "death cross" analysis: predicting the bottomWe are about to "death cross" on the 200/50 daily.
Consider that previous "death cross" was never as severe, lasted from 4 and 9 months respectively.
The parabolic downtrend line is about to break, so we might see higher prices in the next 24 hours, before diving down again.
We should fully expect a drawn out "death cross" down trend to last 2-3 quarters at least, before climbing just before elections up to keep trump in office. (he probably doesnt need the help....biden is terrible)
we might see a pull back to 2600 and 2800, before falling to 2000 before ranging, where smart money will likely let us accumulate, followed by a bull trap, before dumping the market to wash out weak hands by testing the 2K low. Once the stop hunt is complete, smart money will move markets back up again.
Going long now could get you stopped out early by another weak stop hunt to 2100 might hit in 5-7 days. Target price of 2500/2600 is good, but high volatility means we position sizing and risk management is more important than ever. better to use ES as a hedge IMO.
BTCUSD 1D ADVANCED TRIANGLE BREAKOUT INDICATORAdvanced Triangle Breakout Indicator shows Short Trade Red Column Signal.
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Advanced Triangle Breakout Indicator shows Stop Loss Signal.
Advanced Triangle Breakout Indicator shows Adjusted Stop Loss Signal.
Advanced Triangle Breakout Indicator shows 1 x 2 risk/reward Take Profit Short Trade Exit Signal.
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