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Reversaltrading

AMD - Correction of -40% over?NASDAQ:AMD just created a new all time high, however we have to be quite careful now. Volatility is the basis of every major trading position and trading profit. Advanced Micro Devices is just such a stock which offers volatile swings every now and then. Currently Advanced Micro Devices is retesting the previous all time high which is now acting as support. I do expect a move higher but there is simply no good risk to reward setup at the current levels. Levels to watch: $155, $110 Keep your long term vision, Philip - BasicTrading
NASDAQ:AMDLong
by basictradingtv
11
Apple - Caution at the all time high!NASDAQ:AAPL just created a new all time high, however we have to be quite careful now. Trading cycles in an overall uptrend is one of the most profitable trading approaches. You are trying to capitalize on the major upswings and missing out on the major downswings. Apple is currently retesting resistance and probably creating the top of the previous cycle. I am waiting for a move back to support before we will then see the next major bullish cycle on Apple. Levels to watch: $240, $170 Keep your long term vision, Philip - BasicTrading
NASDAQ:AAPLShort
by basictradingtv
10
SQQQ leveraged inverse QQQ LongSQQQ on the 15 minute chart has trended down into a reversal at the end of the last trading session. A snapshot of the 3 minute chart inlaid shows a reversal about 14:45 EDT 75 minutes before market close. I took a long trade of shares and call options striking $10.00 for June 14th at that point. I am expecting a 5% quick return on the shares and far more on the options. The relative volatility indictor is helpful to further pinpoint the reversal for best entry. (red to green) The set of Hull Moving Averages ( 14 and 35) also serves to signal "death" and "golden" crosses which serve to further aid trade entry accuracy. The relative volume indicator ( of veryfid) also helps in that regard. It has extreme volume spikes in black. OF particular interest, the last 15 minutes of the trading week has a volume spike of buying in SQQQ. This comforts me to know that other traders saw what I saw. I am fortunate that I saw it about 45 minutes before them and got a better price. This demonstrates the value of indicators and knowing how to apply and interpret them. Trading is not as complicated as the pundits and the fee for services and trading room coaches will have you to believe to make you financially dependent on their "guidance and assistance".
NASDAQ:SQQQLong
by AwesomeAvani
1
Intel - Retest, reversal and rejection!NASDAQ:INTC has been establishing a slight bullish trend over the past couple of years. A clear trend is the basis of every profitable trade, right? Yes and no. You should primarily focus on trading trends and entering positions during such phases. But Intel is a textbook example of a range bound stock; still there are trading opportunities everywhere. Currently Intel is retesting support and is starting to reverse towards the upside. But please: Manage your risk properly. Levels to watch: $30, $45 Keep your long term vision, Philip - BasicTrading
NASDAQ:INTCLong
by basictradingtv
3
Meta Platforms - Flying under the radar...NASDAQ:META just rallied +500% without any correction and might create a top formation soon. Sometimes the trading gods are sending us gifts from heaven. We received such a gift back in 2022 when Meta Platforms - out of nowhere - corrected -70% and perfectly retested the lower support of the reverse triangle formation. After the +500% rally from there, it is quite likely that we will see a short term retracement. But the overall trend is still clearly towards the upside! Levels to watch: $530 Keep your long term vision, Philip - BasicTrading
NASDAQ:METALong
by basictradingtv
4
Nvidia - Massive rejection soon!NASDAQ:NVDA is clearly overextended after the +1.000% rally and ready for a correction. Trees simply do not grow to the sky. And neither do stocks, especially Nvidia. I know that a lot of people are calling price targets of $250 and beyond, but we still have to respect gravity and the nature of fear and greed. Nvidia is simply overextended a retesting a 6 year resistance trendline. I do expect a correction between -20% and -30%, but also -60% is definitely possible. Levels to watch: $120, $50 Keep your long term vision, Philip - BasicTrading
NASDAQ:NVDAShort
by basictradingtv
50
Gold - Should we take profits now?OANDA:XAUUSD has been heading higher and creating a strong rally; time to take profits. Gold is still clearly bullish, creating higher highs and higher lows on the higher timeframes. But we also always have to keep in mind, that metals and commodities in general are always following anticipated economic cycles. It is actually quite likely, that after the recent rally of +30% we will now see a retracement on Gold, maybe even back to the previous breakout level. Levels to watch: $2.400, $2.000 Keep your long term vision, Philip - BasicTrading
OANDA:XAUUSDShort
by basictradingtv
2
Dogecoin - Last buy before +250% pump!CRYPTO:DOGEUSD broke out of another triangle formation and is preparing a major move. Cycle after cycle after cycle. Dogecoin is definitely one of these assets where you have to look at the higher timeframes; otherwise there is a high risk that you get caught up in short term moves. The trend is clearly bullish and five months ago Dogecoin broke out of a symmetrical triangle formation. We also have a valid break and retest, all indicating a bullish reversal. Levels to watch: $0.125, $0.359 Keep your long term vision, Philip - BasicTrading
CRYPTO:DOGEUSDLong
by basictradingtv
2
Intel - Reversing to the upside!Hello Traders and Investors, today I will take a look at Intel . -------- Explanation of my video analysis: On the chart of Intel there are actually two major horizontal structure levels which you have to keep an eye on. First of all there is quite strong support at the $26 level and just a couple of months ago Intel rejected this support towards the upside. Vice versa there is resistance at the $44 level, always pushing price lower. As we are speaking Intel is also retesting a minor support so there is the chance to capitalize on a short term bounce. -------- Keep your long term vision, Philip (BasicTrading)
NASDAQ:INTCLong
by basictradingtv
1
SBUX found bottom and may reverse LONGSBUX on a daily chart with two sets of VWAP bands anchored to dates back in one year ago and two years ago shows SBUX to be at the same price level as the low pivot of 2022. Price has bounced off the lower most of the VWAP bands and moved up in the past three trading days with higher than usual volume. I believe that short traders are buying to cover and take realized profits in their trades. The more price moves up the more likely short traders will liquidate their positions and contribute to buying volume. A short squeeze could potentially set up here. I will take a long trade of shares and call options to profit from the price movement I anticipate. I will set a stop loss at 71.75 the piot low and a target of 93 under the mean VWAP black lines. The trade is anticipated to last 2-3 months and so the call options wll be taken with a four- month expiration.
NASDAQ:SBUXLong
by AwesomeAvani
GOEV reverses LongGOEV (Canoo) on a 240- minute chart shows an early reversal from a three wee trend down. The chop zone indicator shows the signa over the choppiness in the past few trading sessions. Prc rose from the support of the first lower anchored VWAP line I will take a long trade here targeting the recent pivots as shown on the chart with a stop loss set at the low pivot immediately to the left of current price. This is a potential 50% profit trade if profits are realized in equal thirds at the targets and the stop loss is advanced in regular increments to protect again a momentum fade.
NASDAQ:GOEVLong
by AwesomeAvani
MSTR oversold for a long tradeMSTR is now oversold but has a great earnings beat and the cryptomarkets surging to support a bullish idea. The 15 minteu chart shows price sitting on support of the POC line of the immediate volume profile. With confluence, it is above a fully horizontal lower VWAP line that has no slope. Support and resistance horizontal zones are drawn in for reference purposes. I will close my short position of the past day and switch sides here. The RSI indicator gives reassurance as it has pivoted up from the bottom, especially the faster green line. Selling volatility declared the bottom in the immediate term at the same time the relative volume indicator printed a selling volume spiking black bar both immediately before the regular market closed.
NASDAQ:MSTRLong
by AwesomeAvani
BTC / Bitcoin - Consensus of Indicator Analysis / ForecastOn this highly reliable weekly chart I have placed and added various indicators. My review of them is on the chart. Solely from the perspective of my review and analysis and not at all setting aside the idea of BTC to $250K in 2024, Bitcoin may be overbought with a high RSI and MACD about to cross lines over a relatively thin histogram. Price is higher than the 3rd VWAP band line 3 standard deviations above the mean of the anchored VWAP and the mass index is above the threshold for it to fall to trigger a reversal Accordingly, I will not add to my position and will hold what I have. Further, i will take a look at the NASDAQ Cryptocurrency Index and if it appears to be similar to BTC which is the biggest market cap within that index, I will not add to ETHUSD or any of the other "stable coins". I am prepared to short BTC on a forex exchange with leverage once an established trend is seen on a 60-180 minute chart with checking ADX and DI +.
by AwesomeAvani
💰🔥🔥Are you looking for a new trading opportunity? Check out tAccording to our analysis, SPX500USD is currently in a downtrend in 4H or above timeframes. However, we’ve identified a potential opportunity for a long trade. There was a breakout of Key Level 4756.8, we are waiting for a retest on support levels (as marked as Buy limit levels on chart). If all goes well, we could see a touch on 4775.5 and gain some pips from this Long trade. More take profit levels and the Stop Loss are marked on chart too. 🤑🤑🤑 Remember, this is just an idea and not a guarantee. Always do your own research and analysis before making any trades. Good luck! 🤞 If you found value in this post, please like and share it with your friends and fellow traders. Don’t forget to subscribe to our channel for more updates and ideas. Thank you so much!👋
OANDA:SPX500USDLong
by ICT_Trader_SB
SPY: Don’t “Guess” the Top.We can learn a very interesting lesson by looking at the SPY chart. Anyone who tries to guess the next top or bottom is a gambler, not a trader, and as someone who has gambled a lot in the past, this rally brings back some memories. It's very easy for someone to see such an explosive movement and think: "It's already gone up a lot, it's going to have to come down soon". It's very easy to look for clues in other indicators, for example, and get excited when you see the RSI exploding close to 70. Looking for clues that reinforce a pre-existing belief is common among individuals corrupted by the "confirmation bias", which is something else, and would be content for a future article. Still talking about the RSI, it's important to mention that the RSI was already at 70 when the price was at $450. Since then it has risen by more than $20 (approximately 5%), and there is no sign of a top yet. Far from being a criticism of such an efficient indicator, this is just evidence that the use of indicators should be aligned with what we see on the chart. Top or bottom signals are confirmed when we see a clear breakout from a notorious reversal pattern. As we can see from the SPY chart below, just one or two bearish patterns, even when appears close to clear resistance, is not enough. There needs to be confirmation of a good breakout. Perhaps this is one of the reasons why so many are rushing to sell a possible top, even without confirmation. By waiting for confirmation, you sacrifice part of your profits, and amateurs hate that. To feel like a pro, you have to feel the satisfaction of buying the bottom and selling the top, all the time. Which is ironic, because that's not the focus of a professional. A real trader seeks long-term consistency. Speaking for myself, as far as I can see it's a strong rally in the SPY, and the next resistance is the all-time high at $479.98. So far, there is no clear reversal pattern for me, although I personally would like to see a correction to a support point. What if the SPY made a bearish candlestick pattern today? Just as we see on November 9, 15 and 29, and on December 6, a top signal is plausible, but we need to wait for confirmation via a breakout. Otherwise, it would just be another bear trap. Another thing I like to do is wait for a clear bearish reversal structure to appear on shorter time frames, such as the hourly chart. Uptrends are characterized by rising tops and bottoms, and the reverse applies to downtrends. When a stock is in a clear uptrend, but the hourly chart suddenly makes a lower top and bottom, it's a warning sign. If such a reversal occurs near a resistance area, all the better, as was the case with NVDA at the end of last month. One of the most overlooked principles of Dow Theory is the number 6: "Trends Persist Until a Clear Reversal Occurs". When Charles Dow, founder of the Dow Jones index and the Wall Street Journal, began working on the principles more than a century ago, he never imagined that in the 21st century there would still be traders who anticipate and don't wait for confirmation (again, I was among these gamblers in the past). Therefore, trading reversals is interesting and can be very profitable, but you need to base your decisions on technical reasons. I shared how I like to trade reversals, but there are more strategies that you can use. Feel free to share yours. That's the difference between a gambler and a trader. Moreover, remember to follow me for more content like this, and support this idea if you liked it! All the best, Nathan.
AMEX:SPYEducation
by Nathan_The_Finance_Hydra
9
Will REX revert to the mean ?REX hit a 52-week high after an analyst upgrade. Was this enough to justify a 12% increase in a nonvolatile business, the ethanol production business to support its addition to gasoline to combat air pollution and so global warming. Production and so revenue is not accelerating although it may be a bit seasonal during the summer driving and vacation season. On the daily chart, RE put in a massive bullish bar with wicking above the third upper Bolliger Band set at 2.618 ( Fib level) standard deviations. REX did this on 5/25 and then dropped. I see it doing the same thing again. This demonstrates the version to the mean or "rubber-band" concept. I will stock trade REX short and look at the mid- October put options.
NYSE:REXShort
by AwesomeAvani
BNKU- Triple Leveraged Bank Sector LONGOn the hourly chart, BNKU fell from a head and shoulders in late July , crossed under VWAP lines in a VWAP breakdown and pullback before an inverse head and shoulders type reversal now underway. The zero-lag MACD is confirmatory. I will take a long trade here. Projected stop loss and targets ( TP1-40% TP2 40% and T3 20%) are on the chart. I see this as a very safe trade with an estimated 12% overall profit expected. I am in a WFC trade and looking at ETFs DPST and KRE as well
BLong
by AwesomeAvani