6Z1 trade ideas
Head and Shoulders Price has broken neckline. There is not a confirmed downtrend yet.
Previous head and shoulders pattern noted. It appears there was a double bottom, then price resumed and uptrend before forming another head and shoulders pattern.
This pattern does best in a bear market as the neckline is a strong source of support, until it is broken. Then it becomes resistance.
No recommendation, sorry for the lines versus candles, but I can not get my candles back right now for some reason.
Just a bad day I suppose )o: I am tired of seeing bad patterns as of late.
Airbnb does not look good right now!Looking at the chart from a technical perspective, Airbnb seems to be heading to the lower end of the downtrend channel, as the Lower High and Lower Low Pattern indicates.
RSI would need to calm down as well and even dip into the oversold area at least on a daily basis.
Next stop imo is around 120 USD
If there are no new events like "COVID is gone" or anything in that direction, I do not recommed to go long on #ABNB right now.
What is your opinion? Help the community and comment.
PS. No financial advice! Just my opinion.
abnb breaking out, a little resistance around 175s🧐abnb broke downtrend resistance, did a retest and successfully bounced off previous resistance.
Now we are approaching strong resistance at 174.24-177.03 these would by my short term price targets.
If it breaks 177 it could hit 187.76 before we see a big pullback.
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LONG - AIRBNB (ABNB) - 1DDECISION PROCESS
Trend is degressive (logarithmic selling strength to target price level)
Strong selling exhaust (price is moving strongly with volumes)
Buying pressure (First buying signal appear on support levels) + Volume pressure but I prefer to wait two signals on two different candle (otherwise it could be already an entry).
Contradictory strength (Second buying signal (and confirmation of first one) appear with a buying volume candle)
TIPS
- If market is lateralizing and didn't took direction until the 61.8% extension of the last mouvement (red vertical dash), exit or target breakeven of the position need to be think of.
- On r/r=1 breakeven of the position need to be think of.
- Always stay aware of economic news and movement of the engulfing market (Here ES1!).
PS : Pay attention to reversal signals on yellow line, it could occured an anticipate exit.
ABNB WILL FIND SUPPORT 151 ALT 142 FOR A TRADE LONG SIDE It appears that we will find support in abnb BEAR MARKET into 151 to alt 142 . I would cover shorts now And long to buy calls for spring , market over all is acting as per forecast For wave C down . nearing the near very soon watch for my posts