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GOOGL - 7.17% Profit Potential - Ascending TriangleAscending Triangle and new support confirmed multiple times in the past 3 days. Target price set at new historical resistance line bounce. - Historical Uptrend - RSI and STOCH above 50 - MACD above Signal Suggested Entry $1592.45 Suggested Stop Loss $1560.3 Target price $1710.71 Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
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NASDAQ:GOOGLLong
by maschera
14
Price Action & Psychology - Pullback after breakout, TrendHello ! Key points : Significant support Pullback after breakout Wide-range candles in the direction of the trend Indecision + volume increasing As I pretty much always do, I went back in time looking for major support and resistance zones. To do that, I switch to a line chart and I take a look at the 1-year timeframe, it's way easier to define the major zones. This is what it looks like : Getting back to our candlestick daily chart, we can see that we've had a breakout : very wide-range candle and spike in volume. Stocks never go straight "to the moon" and after breaking out that much, they usually need to "rest" or "breath". It started by declining quite fast (see the wider red candles below resistance). Then it started slowing down, we can ultimately say that the counter-(down)trend is losing power. In other words, sellers were in control, but buyers are coming back in, since the major trend is an uptrend, as the trendline shows. We saw some more "fights" between buyers and sellers during the last 3 trading session. What tells us that the uptrend is pretty strong, are the wide-range candles we see going in the direction of the trend. Finally, on the last trading session, we have a clear price rejection, with increasing volume. My entry will be around the last close and I'm using the ATR (based on 9 days) indicator to get an idea of the average volatility of the stock. This helps me defining a stop loss. I'm using the previous resistance as the first target for my trade. Considering the setup here, I can imagine the stock price breaking that resistance and making a higher high, but because I can't predict it, I'm going to take some profits at my first target, and then I'll work out what to do with what I've got left from there. Thanks for reading and if you have suggestions or want to discuss the idea, just leave a comment, I'll be happy to answer. ***Disclaimer : This is not an advice to buy the stock. Please, be aware that trading is a matter of probabilities and that it only takes ONE trader to deny your trade.***
NYSE:WOWLong
by UnknownUnicorn6734025
SHOP - 24.86% Potential Profit - Uptrend Corridor BounceUptrend Corridor bounce with target price set at resistance. A very speculative trade with a great risk/reward ratio. However, a trade to approach carefully, despite the attractive potential rewards. - Strong Uptrend - RSI above / STOCH below 50 - MACD below Signal Suggested Entry $1031.17 Suggested Stop Loss $989.53 Target price $1293.48 Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
NYSE:SHOPLong
by maschera
GBP/CAD Long To 1.76565This is a buy trade I took last week and expecting further upside into this coming trading week. I bought at 1.73055 and have targets set at 1.76395 - The reasoning behind the trade was simple for me. We had price come back to retest support which lined up perfectly with the 200 EMA which also lined up with a 61.8% pullback. price was oversold on the stochastics and at the time I executed the trade we had a bullish engulfing candle bounce from the 200 EMA. Although I realise it's a bit late to enter where I did if price were to pull back to 1.73280 that would be another opportunity to go long.
Long
by UnknownUnicorn334611
The Bulls are here ?!! BTCUSDG'day Followers, How amazing has the price action been lately on bitcoin and the Altcoins, It certainly has been amazing to trade these markets lately although so much volatility has come through which could be very dangerous trading for non experienced traders, also if your not applying the correct risk and also using stop losses. Anyway lets get to the chart, So as you can see price has well and truly surpassed the golden pocket area on the daily timeframe from the previous high, and what does that mean? Well usually when price starts breaking above the 61.8 fibonacci level we start to see a trend reversal from the downside, and it being on a higher timeframe is more relevant. Imo I think the bulls are here, It has been a very long bear market in the crypto space since January 2018. And according to the wall street cheat sheet since breaking and closing above to 10k psychological area of (disbelief) We are now touching new highs for the year which we can call it (Hope - A recovery is possible) Once we start reaching newer highs then comes, Optimism, Belief, Thrill and at these stages come institutional investors (mum and dad) investors as we call them. Anyway if you have no idea what i'm talking amount try googling the (wall street cheat sheet) So anyway, I think a pullback to the EQ level at 10500 is possible before we start making new highs, the market makers want more liquidity and I dont think they will want the bulls to start their rally before then. :)
BITSTAMP:BTCUSDLong
by steevyp2820
USOILOil has been an interesting one this year. After seeing price drop below -$30 a barrel and now back to $40, you can definitely say it has been a roller-coaster this year. But when is the right time to buy oil? Let's take a few fundamental facts into this With counties opening back up around the world and transport and business starts to go back as normal, there will be a lot more demand for oil. Now, given there was to much supply and no demand, it may take time to use up a lot of the supply before more demand comes back into it. As I sit here and look at the USOIL chart on my screen, I’m noticing a bullish continuation pattern forming on the daily chart. My idea on this is to wait for daily bullish clove above the $41.35 resistance before continuing higher back to $51 - $52 level.
TVC:USOILLong
by UnknownUnicorn334611
Price Action & Psychology - Double bottom reversalHello ! Key points : Double bottom, cluster of candlesticks on first bottom Narrow range + low (relative) volume Buying pressure on downtrend I'm defining the resistance (previous support) based on the second gap (Gap2), on the distribution area and on the clear 3-candle swing high. To clarify, above the drawed resistance (previous support) we had a distribution period, followed by a move to the downside (see the spike in volume and the wide-range candles). The selling formed a cluster of 3 candlesticks, defining a pretty strong support. The last selling wave, that formed the second bottom, is pretty indecisive, the volume is low, there's always some buying pressure and the candles are narrow, it's following the path of least resistance, i.e falling from it's own weight. Weekly chart : From a weekly perspective, the rejection and the gap up stress the irrationality of the move. PS : I'm defining my stop loss based on the gap up (Gap1) that happened after the move to the downside from March. Thanks for reading and if you have suggestions or want to discuss the idea, just leave a comment, I'll be happy to answer. ***Disclaimer : This is not an advice to buy the stock. Please, be aware that trading is a matter of probabilities and that it only takes ONE trader to deny your trade.***
NASDAQ:GDYNLong
by UnknownUnicorn6734025