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Pennant

Macy's Option Trade TAI noticed Macys( NYSE:M ) was way oversold and was overdue for a run at least to 12. This is my documentation for charting this play. I purchased Oct 12, 2023 $12 call. Sold for ~25% profit. I should have sold the call on Tuesday or Wednesday cause I hit my 20% profit quickly but I was being greedy. Having faith in conviction is one thing but to be a successful trader you need a trade plan and to follow it. Faith gets you posting loss porn on r/WallStreetBets. I have learned to be happy with this cause being greedy has cost me way more money. Note: The TA was done and tracked on the 5 minute chart but you need to have a time frame of at least 15 minutes when you publish ideas. That is why you see some funny UI glitches.
NYSE:MLong
by HotsauceShoTYME
2
Watching AMZN break of 139.64 for continuationThe headline chart is a 15 min chart, but it's easier to see what's really happening on the 5 min chart where it broke a wedge downwards and remains to reject entry back into the trend: I'll be watching for breakdown entry under 139.64 only if it retests it and confirms resistance. I would be looking for 138ish. Already played NASDAQ:AMD for +20% today. Continued to +50% on strength. Welcome to follow for more insights. Of course, this move is cancelled if it breaks 139.98 and becomes support. Thanks for reading.
NASDAQ:AMZN
by kingdips
2
📈 AUDJPY: Watch This Textbook Bullish Flag Breakout!Full-time trader. Follow for more free tips & like/ share this idea. Thanks in advance! Bullish flags typically typically show some profit-taking after a strong uptrend without any violent selloffs. The pole needs to have an impulsive and violent move upwards. The breakout from the flag should be followed by a volume spike. This is exactly what we have on the FX:AUDJPY Watch how this plays out in the next few weeks. Learn from it, then do it again on another pair. Possible max target at 101. Of course, like with any currency or stock, expect bumps and dips along the way. Look for higher lows which would void the bullish flag. First resistance break (see chart) should cause an impulsive move upwards, as many traders will spot the pattern and FOMO into it. The lower timeframe shows a nice trend forming. This strong trend can help break resistance faster than expected: If you don't have experience trading this pattern, it's better to sit this one out and watch it unfold and take notes. If you trade stocks, you'll love our community. Link below!
Long
by kingdips
Pennant - DXYPrice for USD is forming what looks to be a Pennant Chart Pattern! Pennants are known to be Continuation patterns where price typically will break out the direction it was heading prior to entering the pattern! BUT everyone knows MARKETS CAN DO WHATEVER, WHENEVER! DXY has been stretching up since July 14th! Lets see if the BULLS have what it takes to push further up out of this pattern OR if the BEARS are ready for the downslide! *BE AWARE: Fundamentally USD has Building Permits (19th), FOMC (20th), Unemployment (21st) and PMI (22nd)
TVC:DXY
by Novi_Fibonacci
Bitcoin can start decline to support level and try to break itHello traders, I want share with you my opinion about Bitcoin. Looking at the chart, we can see how the price fell firstly to the 25700 support level, which coincides with the buyer zone, at once bounced up, and some time traded nearly there. Also soon, the price declined to the buyer zone, and then it rebounded and made impulse up to the current resistance level, but soon rebounded down and in a short time declined back to the buyer zone. Later, BTC broke the 25700 support level and declined to the support line of the pennant, where it at once bounced and made a strong upward impulse higher than 25700 26450 levels, to the resistance line, but when it reached this line, Bitcoin rolled down below. After this, the price continued to rise and soon reached the 26450 level again, which coincided with the support area and even later broke it. As well, the price reached the resistance line again, but at once rebounded and made corrections to the support line, and then continued to move up. But a not long time ago, Bitcoin exited from the pennant, and at the moment it trades very close to the support area. In my mind, the price can start to decline to the support level and try to break it. After the breakout, the price can make a retest and then continue to fall, therefore I set up my target at the 26000 level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
13
TESLA next bull run analysis you have to see.Telsa after long bearish trend pushing prices with higher high and higher low patterns indicating a near bull run scenario to be take place. the convergence from point 2 to point 5 can act as bullish reversal and can push price to 1k USD or even more upside probably making tesla a multi bagger stock. As fundamentals are strong and TA giving green signal you can invest in a SIP manner or one can start invest for long term once the raising wedge correction is finished . best price for entries are from 200 ranges. Thank you.
NASDAQ:TSLALong
by Zakir-Ahmed
1
UK100 Bullish SeptemberDaily chart of UK100 is expected to Break up weekly resistance and trendline to follow a Bullish September Seasonal behaviour. Take Long positions after retest and new orderblock formation Dow theory HHs HLs: Bullish Candlestick Pattern : Bullish forming three soldiers Support &Resistance: Orange line formed on Weekly chark Trendline: Resistance approaching expected to breakup Fibonacci: Bullish Touched 50% on daily Seasonals: Bullish Divergence: Bullish on 4hr Pattern: Bullish Penant on Daily
CAPITALCOM:UK100Long
by maberl
1
COP - excellent breakoutFollowing a five-month decline from its all-time high in November 2022, ConocoPhillips ( NYSE:COP ) has spent the subsequent five months consolidating within an area of value in its long-term upward channel, establishing strong volume support. Historically, we've observed COP forming triangles and making measured movements on breakouts within this channel. If the breakout we're witnessing this week aligns with past price action, we could anticipate a new range extending as high as $124. It's worth noting that the analyst consensus 12-month price target stands at $130. In a previous post, I mentioned that the gold/oil ratio relative to energy was signaling a bottom, which further confirms this opportunity with COP. I'm already long on COP. My strategy involves additional accumulation between $108-110, profit-taking between $123-125, and setting a stop loss between $97-98. As always, it's crucial to monitor market trends and adjust strategies accordingly.
NYSE:COPLong
by Ben_1148x2
Bitcoin can rebound up, thereby breaking resistance levelHello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price a few days ago prices bounced up from the 25800 resistance level and started to trade inside the range. After the price reached the top part of the range, it started to decline and fell back to the 25800 level, where it some time traded near and then made a strong upward impulse to the resistance line of the pennant. Also, the price exited from the range, and then BTC rebounded from the resistance line and later made a downward impulse below the 25800 resistance level, which coincided with the buyer zone, thereby breaking it. Next, the price bounced from this line and rose higher than the resistance level, but recently it backed up below and now continues to trade very close to this level inside the buyer zone. In my mind, Bitcoin can exit from the pennant, break the resistance level, and make a retest. After retesting, the price can continue to rise. For this reason, I set up my target at the 26500 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
15
Ripple can rebound up from support line and exit of pennantHello traders, I want share with you my opinion about Ripple. Observing the chart, we can see that the price some days ago price rebounded from 0.5080 current resistance level and started to trade in a big range. Inside the range, the price made the correction and later rose to the 0.5340 resistance level, which coincided with the seller zone. After this price broke this level, thereby exiting from the range and reaching the resistance line of the pennant. Then Ripple rebounded from the resistance line and in a short time declined to the support line of the pennant, breaking 0.5340 and 0.5080 levels. Later price rebounded from the support line and rose to the resistance line, but recently it rolled back and now it trades very close to the resistance area. In my mind price can rebound up from the support line to the resistance line, which coincides with the resistance level, and try to break them. After the breakout, Ripple can make retest and continue to move up. For this reason, I set up my target at the 0.5200 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
3