BBVA Approaching Support, Potential Bounce!BBVA is approaching its support at 4.551 (61.8% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 4.832 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 5.3% where a corresponding bounce could occur.
BBVA Approaching Support, Potential Bounce!BBVA is approaching its support at 4.551 (61.8% Fibonacci extension, horizontal swing low support) where it could potentially rise to its resistance at 4.832 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 2.91% where a corresponding bounce could occur.
Banco Santander 5 RRR shortReposting this since TV removed this idea earlier for containing links to my telegram group.
Trading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line .
4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line.
This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
BBVA Im soros from the future - Magic Whisperer Advanced play.Hi
noticie how this bank on spain bounce each time at fib 0.618 , we are in forming a giant symetrical triangle , expect price go up to 6.6 a and i will open a short position with tight stoploss , swimg trade.
Have fun
Whisperer92
BBVA - impresionWont trade this.
third test of support.
looking for a move up.
possible stop-hunt in before
Time to buy Griffols $GRF $GRIFFOLSGriffols is evolving in an ascending canal with 3 support level. The stock has drawn this week a very long hammer (10% length !) on the second support. Griffols has a very good behavior with long shadow hammer with only 1,6% of long shadow hammer not initiating bullish trends. We can predict a rebound in the coming weeks, with target the resistance of the canal (22% gain over next 6 months).
BBVA, after breaking its major short term resistanceWhat we have today is such an impressive dark cloud in forming process. Let's see what the result is after closing today.
BBVA facing its major resistance in the short termResistance has been probe today. In the case of breaking, expectation are to reach 5.90.
BBVA facing its major resistance in the short termIn the case of breaking the following gap/resistance, our expectation is to get closer to the next level in 5.95.
ITX playAs you can see last year we repeat the same pattern , break 200ma and run it up to the deathcross.
SAME PATTERN is going on here :) and with a big gap.
So what i think will happen is the next :
Price will run UP and fill this gap , once it fills there will be a rejection and a deathcross , so go Short !!
M0byy
Inditex boosted above EUR 25,40 - Medium termInditex is facing a great bullish momentum:
Fundamental:
After the downgrade of Morgan Stanley -17%, they have reported solid quarterly results reaching USD 12 Bn of revenue for the first time, remaining its clothing leadership.
Technical :
-Spanish equities negative momentum was sending Inditex downwards, however IBEX 35 is back again above 9.200 level pointing out a recovery of the Spanish Index.
-There is a gap at EUR 27-28 that needs to be covered.
-ITX did not break the FIBO 0,61 level.
Enjoy your trading!
[REPSOL] SIMPLE SETUPSpeculative bearish setup...
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Thank you for support and trade with care!
Prosegur PSG --- Downtrend --- Finishing wave A zigzagBME:PSG
Analysis long time, since 2012, where we are watching the retraitment/run down cycle begin.
Regards.
Jose Luis.
