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MERCADOLIBRE INC. DL-,001MM

MERCADOLIBRE INC. DL-,001

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MLB1 trade ideas

MercadoLibre $MELI making the reversalI see a lot of bullish signs in NASDAQ:MELI . The MACD is showing a bullish divergence making higher lows, the volatility has decrease with lower and lower volumen and the price is making a "cup & handle" patter; a classic reversal pattern. The only thing that doesn't meet my criteria is that the MAs aren't align the way I like. But, other han that everything looks very good. With a buy above its resistance in $1,600 you could have a price target near $2,000 for a +24% profit with a 8% risk. That's a fair deal to me.
NASDAQ:MELILong
by dpuleo19
MELI Analysis showing possible drop.1d Time-Frame Analysis Lets start with the bigger time-frame, with the bigger picture. NASDAQ:MELI is at level 2 rise, meaning it's missing one more leg to the upside. Then, why short this? Just checked the cycles and I see that MELI does level 1 rise, retrace, level 2 rise, M formation, drop. So instead of level 3 being the peak formation before the reversal, level 2 is the peak of the cycle, and now we are in level 2 with an M formation! 4h Time-Frame Analysis 4h time-frame seems to be a copy paste of 1d time-frame. We can see the cycle to the downside, with only 2 levels and the second level being the peak formation, and now we can see two levels to the upside, with this level 2 being the possible peak formation. Trade light Be careful guys, trade light. I'll set my SL at 1918.59, because if price touches that price level, the M formation will be possibly invalidated. Though, I'll wait for the close of the candle to be sure I'm not closing a stop-hunt rise. On the other hand from 1874.80 to our SL we have 2.34%, so playing big would mean a big loss. I will use a 2.5% of my entire account. Take Profits Close 30% at 1742.83 Close 35% at 1674 Close 35% at 1583 Happy trading!
CAPITALCOM:MELIShort
by chutireality
The breakout has not happened yet on MELI. This is our plan.Let's take a look at MELI. We can see two relevant aspects on the chart. a) The price has broken an ascending trendline that has been working since MAY 2020 b) The price has been correcting for the last 4 months almost, and the main structure we can observe is a descending Wedge. Based on those two items on the daily chart, this is our trading plan. -We can see a clear resistance zone at 1600 - 1650 that has been tested 3 times. Therefore we don't want to take any setup below that level. So, we will wait for the price to reach it first. IF that happens and we see a move above that level, we want to observe a clear corrective pattern. Here we have defined an ABC structure (what we are looking for is something with similar proportions as the previous corrective structure that happened at the same level we are waiting for this one. -If all the scenarios are aligned, we plan to take a setup, as you can see on the chart. The two levels above the resistance are the broken ascending trendline (working as a dynamic resistance) and the previous ATH. We think that a setup like this one can provide us with a 1.7 risk-reward ratio and a resolution between 10 to 20 days. Quick Questions And what if this never happens? - We don't trade, darling Ok, smart guy, and what if you wait for all this and suddenly you have a stop loss? - We just take it with 1% of our account with a smile on our faces. Stop losses are a fixed cost of trading; start dealing with that instead of avoiding it. Why don't you buy it right now? - Because Momentum trading / Swing trading is about waiting for confirmations and creating scenarios with a good risk-reward ratio (which means defining stop levels) so after 40 setups, you can have an edge (or a statistical advantage) Thanks for reading, guys! all your questions and ideas are more than welcome in the comment box! Have a great week.
N
by ThinkingAntsOk
2
Mercado Libre (MELI) could be close to start an impulse waveAssuming that the wave count is correct, Mercado Libre could be close to completing a corrective wave to start the fifth wave of impulse, which could send the price to the range of 2,500-2,700 and high at $ 3,000 in the fall of this year. It is currently at $1,400, the $1,200 is a key support level, more than that I doubt it will go down, if it does touch them, it could be used to buy more. Both the awesome oscillator and squeeze momentum are at the oversold point and have previously served as good entry signals. For its part, although the money flow index is close to 50 points, it still has room to rise after the low of March 8. Therefore, if the indicators and the count do not fail, we should expect a next rally in this stock. NASDAQ:MELI
NLong
by amateur_trad3r