GOOGL
GOOG: Some scenarios to work with.Hello traders and investors! Let’s look at Google today!
The hourly chart tells us that we are in a short-term bull trend, after GOOG did a double bottom pattern at the purple line. Now it is doing higher highs/lows , a characteristic of a bull trend.
The black line at $ 1,476.10 was a pivotal point , and the previous resistance, which now is supposed to work as support. Under this line, the situation starts to get dangerous for Google, and if it loses the 21 ema, would be even worse.
But as long GOOG continues to trade above these points, it will seek the $ 1,520, attracted by the gap.
Now, let’s see the daily chart:
The problem is that Google still must face the 21 ema in the daily chart , and this is the only thing that could ruin the short-term bull trend.
The trend is quite bearish in the mid-term, but at least it is trading above the black line at $ 1,464, which is an important point for the stock. If GOOG loses it, along with the supports in the hourly chart, the target would be a retest of the purple line at $ 1,410.
The situation is not easy to analyze, but these are the scenarios we can work with GOOG now, and if this analysis helped you, please, support it ! And follow me to keep in touch with my daily analyses.
I wish you all the best of luck.
GOOGL Daily S/R|200 MA|Hidden Divergence|Swing High|Price ActionEvening Traders,
Second analysis – GOOGL – testing key 200DMA where a bounce into Daily S/R is probable,
Points to consider,
- Bearish Price Action
- 200DMA (Support)
- Daily S/R Resistance
- RSI Hidden Bullish Divergence
- Increasing Volume
GOOGL’s immediate Price Action from swing high is bearish where a back test and respect of the Daily S/R will establish a bearish retest.
The current 200DMA is supporting price, this is a technical pivot where a bounce is probable.
The RSI has a valid hidden bullish divergence, indicative of strength and a potential short term reversal.
Current volume profile nodes are increasing; this is expected as price trades at a key technical level.
Overall, in my opinion, GOOGL is a valid short-term long into Daily S/R with defined risk. Price action is to be used upon management/ discretion of trade.
Hope this analysis helps
Thank you for following my work!
And remember,
“Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached... always keeping your eyes on the long-term picture.”
― Yvan Byeajee
GOOGL Swing TradingNASDAQ:GOOGL has broken its trend channel and seen some major downside. Due to TikTok news and the tech slide GOOGL could possibly rally next week before facing more downside into the week of its earnings. Pictured are Elliots wave and its correction along, the thickest line was taken from the weekly chart and has proven as a key level over the years.
Drop it Like its Hot.GUH.
September Short.
Convergence of Nikkei, Shanghai Composite, NDX.
Quad Witch
Rebalance
Fear
Every Rip is Sold
Big Tech AntiTrust Probes
JPMorgan, Bloomberg Trying to Crash Market.
Fed Pump of 500B of 10/14 will come too late (RIP Powell)
Potential Trade War Tensions
Corona Resurgence
Spain
Max Pain of Options is 280
Linear Regression
Election
martinshkreli.com
the only way we go up is if softbank or some big bank buys a bunch of far OTM calls for cheap to lift markets. and then stonks only go up and then we get free tendies.
Opening Idea:GOOG facing Difficulties to go higher (explanation)For 4 times, the stock has tested the blue line which was a support and now a resistance, and delivers some bearish signals looking at the upper shadows and the strong volumes.
- For trading: you need to wait for the breaking of the highlighted rectangle, the bearish signals are encouraging to break from below and maybe reach the lower red level of PITCHFORK.
- For investing: I'm still bullish, If you analyze the stock from the beginning of the explosion of prices till now, you will see that the chart is doing an angle of 45° approximately, so it is very difficult to go down, and very risky to go against the trend.
GOOGL 1D BEAR FLAGBear Flags are Ranges that are repeatable trading chart patterns.
Bear Flag chart patterns will have a directional bias depending on the previous incoming trend (short trade).
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
Whatever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.