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Pin Bar

ZS - Ripe to accumulateZS tested a horizontal resistence turned support @ 163 yesterday, closing a bullish pin bar. Incidentally a bullish divergence between Price and RSI became apparent this morning as it opened with a gap up. Time to accmulate. However initial stop loss is currently at 160 (just below yesterday's pin bar low), hence position size accordingly to cater for this wide move. Protective trailing stops is always a good practice. However it needs to be wide enough to cater for some volatily so as not to be stopped out pre-maturedly. (money mangagement is important and really an entire subject by itself, guys). Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
NASDAQ:ZSLong
by Juliac
SNAP -another chance to snap some upSNAP's trendline support is still valid. It bounced off this support on 8 March, swung up from 52 to 65 (forming a mini swing AB) before retracing almost all the way test near the trendline again today. After a scary start to the day (when SNAP was down more than 6%) , buying support came right near the trendline and recovered to form a bullish pin bar. It sure looked like SNAP's "supporters" have been eyeing to stake around this trendline! Still bullish on SNAP as long as this trendline is not breached. Current stop loss will be 53.90, slightly below trendline. Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
NYSE:SNAPLong
by Juliac
FTSE100 - Fresh highs incomingThe FTSE is currently sat at strong support. Sellers tried to push price lower, but the index was bought back up to form a pinbar (red arrow). Lower BB also sits at this point (see %B in bottom window). Considering the lacklustre fall from the rising wedge and the subsequent pin bar, we can expect 6800 to break (see how long price spent lingering around the level). The next resistance is ~6838, so a break and restest of the 6800 is likely and will be the perfect high probability entry. An aggressive entry would be at open on Monday (I personally will probably take this based on the pinbar with a stop below the low). Target is the psychological level of 7000, which acted as a strong support throughout 2019. High prob: Entry = 6805 when retesting the level Stop = 6735 TP = 6800 R:R = 3 Aggressive: Entry = 6720 Stop = 6642 TP = 6800 R:R = 4 Happy trading:) follow for more of this kind of stuff!
OANDA:UK100GBPLong
by pasojov
ETHBIDR - Going Long (15/03/2021)Hi guys, currrently I have lost 10% of my investment in just two days. I have blindly set buy order limit in support area, it hit my support area and also my stop loss 👀😅 Lessons learned. I have learn and do the following: 1. Identifying the trend in daily chart 2. Identifying Area of Value via support, resistance or key level. I have missed the last step: Identifying the trigger to buy. Recently I came across the following article: Price Action Entry Rules: How to ‘Enter' at the Break Well you shold google it, I can't attach the link 😅 It have a great advice on how to timing your trade. I recommend you to read the article. Now this idea is an example of me practicing the rules.
ELong
by UnknownUnicorn16802713
SQ - opportunity to accumulate!It is likely that this just just a steep correction (not a protracted bear market) hence we need to look beyond the fear for opportunities that do not come so often! SQ crashed 30% in just a little over 2 weeks. There is a strong support zone at 190-198, little would we expect that it will crash more than 10% today to test this zone before staging a strong rebound. This support zone is a confluence of horiztonal supports, a trendline support as well as the 62% fib retracement of the AB swing up. While it is already forming a bullish pin bar today, there is a chance the stock could retest the low near 190 over the next few days. As long as we do not breach 190, I would sit tight.. That said, pls trade carefully! Cut loss if trade did not work out so that we survive with enough cash for the next opportunity Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
NYSE:SQLong
by Juliac
2
TSLA - time to accumulateThe market "crash" has been hurting a lot of people pretty bad, less so for those who had adhere to strict stop losses. However, one must look beyond the "fear" and keep an eye for good buying opportunities in good quality stocks during such times. Telsa "crashed" into a support zone 500 - 550 today, hitting a low of 539 before recovering to possibly form a bullish pin bar today. This is a zone with a confluence of "supports", namely a trendline support, 61.8% fib retracement and also a "resistence turned support". Adding to these, there is a bullish divergence in the making. For those who thought they had missed the oportunity to stake Tesla, I would venture to stake some now (ideally not too far above 500-550). Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
NASDAQ:TSLALong
by Juliac
9