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HD: RECTANGLE PATTERN AND FULL TECHNICAL ANALYSISHD ( HOME DEPOT ): Consumer Cyclical - Home Improvement Retail. Home Depot is included in the Down Jones Industrial Average. My technical analysis on the stock: The current downtrend took the stock 37% of its all time high of January 2022. On June 23, HD initiated a strong bounce to $333 off the $265 level. On August 17, HD initiated a huge drop back to 265, to bounce back again to the 330 zone where we currently are. The stock is currently down 22% off its all time high. Is this a buy? No one knows, but let's look at technical analysis to help us make a decision. As we see from the chart, the 265-269 zone is acting as a strong support while the 328-333 zone is acting as a strong resistance. All of the above has created a nice range in the shape of a rectangle. A rectangle is formed when the price is confined to moving between the two horizontal levels, creating a rectangle. The pattern can indicate a few things: - that the downtrend has paused and the stock is now consolidating before a continuation down. So back at the bottom of the rectangle and break down. - that the downtrend has stopped and we're looking at a change of trend. Kind of bottoming pattern. So basically it can keep ranging for a while and break to the upside OR break to the upside in the next few days. The rectangle ends when there is a breakout, and the price moves out of the rectangle. Considering the above there are several ways to trade it: 1. If you think the price will keep consolidating within the range, you can short the stock at the top of the range . Your target is the bottom of the rectangle, with a stop just above the rectangle. 2. if you have a more bullish view, you can wait for a breakout off the rectangle and go long the stock , with a stop below the top line of the rectangle. All targets are mentioned on the chart (blue lines). Rectangle ultimate target being $400. I'm leaning slightly bullish here because moving averages have started to rise, and I like the triple bottom, but who knows. Whatever your opinion is, best is to manage your risk. Trade safe.
NYSE:HD
by Elpidaldo
2
Is Volatility the New Normal? Hi I'm Goose and I'm apparently obsessed with the VIX this week. I would say I've reached a point of borderline stalker, going through historical data, working up average all time range theories, and ultimately writing a script that will give me a bar count inside and outside of a date and price range and the percentage of time during that period that the VIX has gone wild. I used this script compare these statistics across the daily chart in different sections of time. Now, I did this because I am anticipating a return to mean with the VIX any moment now. I'm tapping my fingers and getting impatient. And not because I'm waiting for a rally, I mean, a rally would be cool, but because this has gone on long enough really. So I decided to compare the 2008 Crash historical data with the more recent Covid data. If you haven't read the in's and out's, the timeline and the reasons why, go do that right now. Or just watch The Big Short a couple of times for the cliff notes. But for the sake of this chart, I marked up some of the important moments during what is now known as the Housing Crisis/Great Recession. Theoretically I could have made arguments to drag this period out to 2014, but comparably it makes little sense and frankly, even further drives my theory, so I ended the period when the market had recovered its 50% losses from pre crash peaks. Keep in mind, current markets recovered and S&P Futures made a new high in just under 6 months from the Covid Crash. So this is already an unfair comparison. And that is kind of my point. Comparable factors like unemployment and U.S. Homeownership are actually contradictory for the most part if you omit the summer of 2020. And if you're in the group, as I am, that believes low unemployment numbers promote higher inflation numbers, then we could argue inflation begun, albeit transitory, in May and July of 2018 when unemployment dropped below 4% and really got a foothold in 2019. All it needed was a supply chain interruption. And I know Covid takes the blame for that, but that had started also. China trade, pine beetles, metal shortages, coffee , etc... So when Covid whooped the employment numbers 10 points from March at 4.4%, to April at 14.7%, it basically created a sling shot effect with equities. Come August of 2020 when those numbers rapidly dropped to 8.4% we made brand new highs. And within a year we had dropped back to where we started in the upper 4% range. I know I'm on a tangent, but why is this important? Because in the Covid Market, we turned those numbers around in 1 year, as opposed to the 5 years it took to recover AFTER the end of the Recession and its 5 year recovery. Soooo... That's why I'm not counting that period, and why I'm calling out VIX on is behavior. So lets get to my point. Is the new normal volatile AF ? As it currently stands, and based on a range of $10-$20 dollars which I determined to be fair visually for the initial part of this work up, the VIX has spent 5% more days above the standard range. Now 5% isn't a deal breaker. We can find dramatic headlines that will excuse random volatility but I will argue we are at a crossroads. If we continue to stay above $20, we risk having to work hard and longer to get that figure back down. Remember calculating your GPA , but in reverse. Eventually the shock and awe of a +$30 VIX won't induce the same FOMO reaction and things may get really weird. When VIX goes into the new year, the powers that be will need to reign her in to avoid decoupling on any given Wednesday instead of just low liquidity holidays. My theory actually goes further down the rabbit hole when I narrowed down a true 50% average range, wait for it.... $10 - $16.75! YES! The overall, from inception, average high of range sits at $16.75. And pop on the tin foil hat because with that range, both the Housing Crisis/Great Recession AND the Covid Market are sitting at 91% above range. I checked that 3 times to be sure and I did not include that in the frame of this chart as it already had enough scribbling all over it, but if you explore to the bottom of the chart you will see a smashed up mess of it. So if your listening Market Makers, shut it down, shut it down now. And if that is what you are setting up to do as I have already speculated in a previous work up, well done! Keep it up. I know for a fact that the VIX is heavily relied upon by many successful traders in many different products for directional bias, let's not ruin it shall we... On this chart you will see the table bar counts for inside and outside of price range for the specified period as well as the total bar count and the percentage of bars outside of that range. That means up OR down so the period between the Recession and Covid has 12% outside of range, but you will notice that it goes below the range as well. When the price range was moved down beneath the lows to $8, it lowered the percentage by 3 points. I have also labeled some fun facts that occurred during the historical period to show a bit about why I choose the dates that I did. Leave a comment for a heated debate, or to tell me how cool I am, or that I'm just a silly Goose. en.wikipedia.org www.statista.com data.bls.gov
TVC:VIX
by goofoffgoose
AMC: Range trading! What if it breaks this congestion?• Since our last analysis, AMC has been just doing some range trading, trading above our support at $6.80, but below the 21 ema (the link to my last analysis is below this post); • It seems we have another resistance to work with, the $7.89 (Sep 07 low, yesterday’s high). Along with the 21 ema, this creates a dual-resistance price area; • AMC will only engage in a bullish momentum if it breaks this dual-resistance area, as long as it trades below it, nothing new will happen; • In addition, the $6.80 is still our main support, and only if AMC loses it (and close below this point), we’ll see the continuation of the bearish sentiment, and the next target would be the $5.96; • Either way, AMC looks interesting, but it must do a breakout from this congestion first; I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
NYSE:AMC
by Nathan_The_Finance_Hydra
AMZN: Next targets + Trend analysis!• AMZN is doing some range trading since September 23; • Its support is at $112.06, while its resistance is at $118.70; • The momentum is still bearish, and we don’t see any reversal pattern confirmed yet. In this case, we can assume AMZN will lose the support and seek the next target at $102 (the next support level); • Is there any chance of a reversal? Yes. By breaking the resistance, it’ll trigger a technical mid-term reversal, and the next resistance at $136 would be the next target; • The open gap near the next resistance will probably help the bullish thesis. Remember, gaps work as magnets during reversals; • For now, AMZN is neutral, and the volume confirms this, as it stabilized along with the price; • To whatever side AMZN breaks, I see a good movement in sequence. Let’s pay attention to these key points for now. I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
NASDAQ:AMZN
by Nathan_The_Finance_Hydra
BTC: Rangebound?Bitcoin Intraday - We look to Buy at 18613 (stop at 18221) Price action continued to range between key support & resistance (18500 - 19500) and we expect this to continue. We look to buy dips. We are trading at oversold extremes. 18521 has been pivotal. Support is located at 18500 and should stem dips to this area. Expect trading to remain mixed and volatile. Our profit targets will be 19584 and 19884 Resistance: 19500 / 20000 / 20500 Support: 19000 / 18500 / 18000 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’) . Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
VANTAGE:BTCUSDLong
by VantageMarkets
1
Bitcoin range play: upside potentialWe see on the daily chart that support at the June-July range low, 18.8k, (which is also the 2017 high) is very strong. The candle is very bullish and is accompanied by powerful volume. Further downside at this point seems much less probable than more upside. Therefore, my analysis concludes we will be continuing the range upwards now. 21.6 seems the obvious next level and a *safe* TP point. 22.3 is more of a high-conviction play and not improbable, but in these environments I think safe plays are not a bad thing. Once we get to those price-levels, which is to say: the top of the June-July range, it will be easier to evaluate whether we will be rejected again to continue the June-July range downwards, or whether we will push through to 24.4. I still believe 28k may be on the charts for a bear-market rally local top, and it would be the perfect bulltrap. But first things first. Aggressive profit taking is always recommended in these environments. Hope it helps, and enjoy your day/night!
by mapav
1
BTC: Rangebound?Bitcoin Intraday - We look to Sell at 20448 (stop at 20902) Price action continued to range between key support & resistance (19500 - 20500) and we expect this to continue. Daily signals are bearish. Preferred trade is to sell into rallies. Expect trading to remain mixed and volatile. Our profit targets will be 19444 and 19044 Resistance: 20500 / 21000 / 21500 Support: 20000 / 19500 / 19000 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’) . Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
VANTAGE:BTCUSDShort
by VantageMarkets
IMARGINABLE's Fibception Challenge - BTC potential plan to $300KHello GamblingView, If you like this idea on BTCUSDT , please boost 🚀 or drop a comment, thanky! - OVERVIEW - Trade the ranges/breakout/breakdown shown on the chart and keep it simple. Prices sub-$17K not worth mentioning at this point since it's not part of this plan. - EXTRA NOTES - Anything below $17K will mark this plan as invalid. If price holds anywhere below $17K, I will be looking for other trading plans. So, technically speaking, at this point $300K is the valid target, possibly a fantastic time to enter some longs just in case this plan works out. - CONCLUSION - Trade the ranges between the Golden Pockets (~0.618 -> 0.5 -> ~0.382 -> 0.5 ->~0.618 ...) Anything below $17K is the invalidation point of this idea. Anything above $70K could be a non-stop continuation to $300K. Best, me.
Long
by protogon
2
Bitcoin on the way to 24.4k as first target$BTC still following the levels & on track to $24.4k as main target. Volume rising too, so no signs of weakness there. Once at $24.4k main question is if we will push to $28k, or go down to continue a range. If rejected, this will be an easy rangetrade for swing traders. That said, $28k is not that unlikely IMO. And if we do go to 28k, the VPVR indicates the move will be quick (meaning: it will be a steep climb, rather than a gradual one). $28k will be a bulltrap if it happens, though. Sentiments will be affected quite heavily when we near $30k as people turn bullish, but it will be the local top of a bear market rally. So I will be aggressive when it comes to profit taking at the important levels. Using this 1D chart as orientation for now, and serves me well. Hope it helps you all too. Have a great day!
by mapav
BTC/USD : Reached the price void! BINANCE:BTCUSDT BYBIT:BTCUSD BINANCE:BTCUSDTPERP Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it! It's time to judge the momentum again! $BTC has reached an S/R zone and above it, There's a Price Void located at $22000 - $22555. So, There's less chance for $BTC to climb straight above into the higher S/R zone, Cause there're big selling orders located at $22000. But if $BTC manages to cross above it, Then there won't be any resistance till it gets to the higher S/R zone. Have to mention that, If $BTC fails to break above $22000, Then it might dive to the lower prices at $20175 to search for more bullish volume into it! Price Void: Similar to Liquidity Void, But it's calculating the Void between the existing Liquidity Void and the filled Liquidity Void. Hope you enjoyed the content I created, You can support us with your likes and comments! Attention: this isn't financial advice we are just trying to help people with their vision. Have a good day! @Helical_Trades
BYBIT:BTCUSD.P
by Helical_Trades
12
Possible short entry on Bitcoin rangeSeveral hard rejections at resistance (see red dots). Rounded formation at resistance – indicated buyers exhaustion, favoring shorts. Candle has yet to close and a lot can happen especially in those last ten minutes. Possible resistance at 19760 - could be a first TP point. If bullish reaction there is weak (watch volume), I would let it run to 19620, which is where a high volume node is located (which often acts as support). I expect strong support at bottom of range. If we do get there (we may not break through the high volume node) then it’s a good entry for long position. !!Still, it depends on how current candle plays out!! Watch that for confirmation **NFA**
by mapav