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Gapfill

USD/CAD Bearish trend would continue? USD/CAD is clearly in the bearish trend last week. The issue here is that how many times the price will retest this level of support? Double bottom or even triple? Or it could break up and continue to fill up the gap down? 1. Well-respected the bearish trendy line and EMA 20/25, lower high and lower low? 2. Gap down is nearly filled up? 3. This level is critical for demand side, therefore it should be more than two retested price actions at this support level. Therefore, it would not be surprised to see that price will move between the EMA20/25 (bearish trendy line) and its current support level of 1.3488 - 1.3422. 4. MACD 4h is about to revert back to the bearish trend, red zone. 5. USD/CAD should retest the EMA 200 Weekly (1.29566 - 1.32888) on my viewpoint, because this zone is a ''highly demanded'' area and it have not tested this level yet since Dec 2019. Remember that during 2017 - 2019, price action of this pair is well respected this level of support and it would be considered as a fair price or fair value to maintain the balance on this pair. Bearish Bias: Unless price could break the bearish trendy line and move up Higher higher and Lower higher above the EMA 20/25, there will be no BUY or otherwise Bullish confirmation. It could break the support towards lower level of support (around EMA 200 weekly zone 1.3088-1.3222). Cheers and thank you for any supporting comments.
Short
by JokerVN30
GM: Don't bet against Pickemup Trucks!Cyclical stock, truck sales booming online with retail stores closed, lol. Buy em sight unseen, delivered to your door! Downside at the gap from 22.68, could fill, would be a buy opp if it does. H&S pattern evident, stock had unsupportable runup, trades at fair value. Either get a bounce from $25 headed back to $35, then $40 at cyclical highs, or 10% correction to fill gap then bull again IMO. In the Aug $25 calls, short Jul 28s in $3 bull spread for under $2 premium. Keep shorting weeklies against the long contracts to pay for them. Bought shares in a covered write as well. Just an idea; not investing advice; trade at your own risk! GLTA!
NYSE:GMLong
by DaddySawbucks
2
ARCHER 40% OR 23%?Archer Materials Limited (ASX:AXE) A materials technology company developing materials in quantum computing, biotechnology, and lithium-ion batteries, and exploring for minerals in Australia. The Company has strong intellectual property, broad-scope mineral tenements, world-class in-house expertise, a unique materials inventory, and access to over $300 million of technology development infrastructure. I see 2 Scenarios playing out, either 1.) Break out of Descending Triangle and shoot for a 16-40% Target. -Previously Broken out of 2 very Similar Fractal Pattern Triangles. -Recent Share Purchase Plan OverSubscribed. -Recent Sale of Leigh Creek Project. -4hr .382 Fib, 1hr .618 Fib Retracement levels held. -MACD cross anticipation -RSI Neutral -Daily Support Holds 2.) Descending Triangle Completes and we aim for .5 Fib Retracement Support after a 570% Rise (Looking for the Rebound) -10/20 EMA Death Cross (Heading for 50) -Descending Triangle Pattern -RSI Neutral -MACD fails to cross and spreads -Gap fills between .545 - .525 -Daily Support Fails Eyes on... These Ideas are NOT 'Financial Advice'!. Scenarios are based off a mixture of TA and Fundamentals current at the time. All IMO GLTAH. Happy Hunting!!!
ASX:AXELong
by Trader_Johnni
1
AFTERPAY - NEW ATH or 50% RETRACE?AFTERPAY (ASX:APT) New ATH or in need of a retrace (A sign of darker times ahead though IMO) 3 Scenarios to play out in the next week. 1: Now that we have popped back into long term uptrend and with the amount of people using the service due to Covid-19 (with no end in site) $50 mark looking very achievable. -Current Support holding -Bouncing off long term Uptrend Trendline -Covid-19 still taking its toll on the world -Fib Extension 1.272 within Rising Wedge -New ATH territory -Volume still present in the market 2: After a 440% run wheres the retrace?? Is now the time? (Short Term Retrace) -440% run without a retrace -Covid-19 Restrictions 'Softening' -MACD Death Cross inbound -RSI Overbought Territory -Fib Retrace .236 within reach -Parabolic Uptrend will crack -Healthy market run needs good market structure 3: A larger retrace is required - Punch through the Fib .236 and head for the .382 & Strong Equilibrium -Fill GAP between .236 - .382 -MACD Cross and Spread -Crack RSI uptrend -New Market Structure will form LL, LH -Parabolic trend will break A Revolutionary Company that was founded 5 Years ago. with over 40,000 Merchants Worldwide and 7 million users and GROWING, Afterpay has smashed the market post Covid-19 dump with a full retrace as their platform has capitalised on the state of the Global Economy during this time (Someone had to) with over $250 Million in Revenue (JUNE 2019) in excited to see what the End of Financial Year brings for APT. These Ideas are NOT 'Financial Advice'!. Scenarios are based off a mixture of TA and Fundamentals current at the time. All IMO GLTAH. Happy Hunting!!!
A
by Trader_Johnni
1
Holy Grail/ adx gapper/ 80-20 all signals triggeredThis is a triple confirmation on strategies from Streetsmarts... 1. Holy Grail is watching ADX it should be correcting only from uptrend > 30 2. Gap below yesterday's low then reversal recovery in morning at 35.10 3. 80-20 is yesterdays range opened in upper third, and closed in lower third; today's gap down then recovery of yesterdays low, buy > 1st hour bar > 35.25...hold until close or next day 4. technically there's an ABC style correction in a strong uptrend which tips probability that could recover multi-days even if miss low a bit ( call options could be considered if GAPS down to obvious target for C leg...as a re-entry method) 5. 6 days ago was a low, that is also beat > 35.35 showing another reason shorts may 'cover' or take profit...
ASX:BHPLong
by Aussie-scalper
Knowledge about Gaps trade in market:By keeping 287.62 as stop-loss we can trade in this stock, target 313.49 Because the stock has many gaps we will talk about gaps, Gaps are areas on a chart where the price of a stock moves sharply up or down, with little or no trading in between. A gap is produced when on a particular day a certain stock at its lowest price is traded higher, compared to its highest price at which it was traded on a preceding day. Gaps can provide clues about the price movement. Remember that not all gaps are genuine, some are phony as well. Genuine or valid gaps occur when the market skips a price level. Common gaps normally occur in calm and quiet markets, rather trend less markets. There is a common superstition that “a gap must be closed.” It is further molded into “If space isn’t filled in three days, it will be filled in three weeks, and if it isn’t filled in three weeks, it will be filled in three months, etc.”
NYSE:MA
by Trade-Technique
21
Apache: Bullish Triangle Below Bearish GapOil driller Apache is the S&P 500’s top performing stock in the second quarter with a gain of more than 150 percent in the last two months. But it’s also down more than 60 percent from its 2020 high near $34. This may give it more upside potential as the economy reopens from coronavirus. The oil market is at an interesting crossroads because production is plunging at the same time consumption is set to increase. The Baker Hughes rig count has dropped for 11 straight weeks and is now at the lowest level more than 80 years of history. Global drillers represented by OPEC+ have also shown a commitment to production cuts – at least for now. APA could be interesting technically and fundamentally. Technically, it’s made a series of higher lows while staying under roughly $13.50. That’s the bottom of its bearish gap from March 9, when coronavirus really slammed the entire energy sector. Fundamentally, APA is also in the process of a turnaround as management shifts from struggling operations in Texas to newer fields off the coast of Suriname. Traders may want to build positions around these levels and look for the trendline to hold, followed by a potential gap fill. Today’s low could be a price level for risk management.
ALong
by TradeStation
SANTOS 20% INCOMINGSANTOS (ASX:STO) After a great market Announcement on 28.05 (completing ConocoPhillips Acquisition) we have bounced off support of this ascending wedge and its crunch time. 20% to close the major GAP left by th COVID Crash. -Respecting Trend of Ascending Wedge (Haven't broken Bearish) -About to Break Ichimoku Cloud -RSI not Severely Overbought -Conversion Line has crossed Base Line back on 21st APR and is still holding spread -Lagging Line showing us respecting trend but we are approaching a double top -Testing 100 EMA strongly Due to the price Mid Major GAP, Still respecting Trend and testing the 100 EMA strongly. I am confident we will see a break through Ichimoku Cloud and close of gap @ 6.51 which is also a Major Resistance area & lines up with -0.27 FIB Extension Stop loss is below PREVIOUS Structure and Below 0.236 Fib Retracement Level. Risk/Reward sitting at the minimum 2:1 Testing Week for SANTOS. These Ideas are NOT 'Financial Advice'!. Scenarios are based off a mixture of TA and Fundamentals current at the time. All IMO GLTAH. Happy Hunting!!!
ASX:STOLong
by Trader_Johnni