PennantTrading

PennantTrading

Long and short trade ideas for QQQ. Hard to tell where price is going in the short term, so avoiding swing trades for now. Long Trade Idea Entry: Below previous high and a 1.618 Fibonacci level. Target: A past day's 1.618 Fibonacci level Short Trade Idea Entry: Above the channel drawn on the Daily chart Target: Past day's 1.618 Fibonacci level. Exact...

PennantTrading

Amazon is playing well with this resistance zone. I have a short and long entry set based on Fibonacci levels. Long trade idea: Entry: Above Supply zone Target: A 1.618 Fibonacci level drawn in the past. Short trade idea: Entry: Below Supply zone Target: 1.618 Fibonacci Whither I enter the trade or not depends on price action. KEY: -White Horizonal...

PennantTrading

Price today was rejected at a 1.618 Fibonacci level. I entered a successful short position and intend to get back in for another day trade. Since it previously reacted to a Fibonacci level, it may continue to do so. The 1.618 for Fibonacci 2 happens to be the start of Fibonacci 1, which is also a previous high/resistance point. Price is already headed...

PennantTrading

IWM short worked out well on Friday 1/18/2025. Going to try for it again this week. Entry is right below the supply zone, the stop is right above it. Target is the top of the gap. My decision to enter or exit depends on price action. KEY: -White Horizonal Lines: Resistance levels (multiple timeframes). -Green boxes: Supply or demand

PennantTrading

AAPL is playing well off the yellow trendline drawn on the daily chart. Two trade ideas setup based on the green support zone. Entering or not depends on price action around the entry price. Not looking to take a swing trade in AAPL until it decides to either break through the trendline or bounce away from it. Targets are 1.618 fib levels drawn on the hourly...

PennantTrading

Sharing this on the hourly, but the daily chart is what caught my eye. The 1/17/2025 dip got bought right up. There could be a little but of a head and shoulders patter going on, meaning it may turn bearish, but I think one good bullish move up is not out of the question. KEY: -White Horizonal Lines: Previous High/Low, multiple time frames. -Green Horizontal...

PennantTrading

QQQ reacting nicely to the Channel. I'm short term bearish on this. I think it needs a 2%-3% pullback before it breaks out for good. Since the 1.618 fib is right there, and the wick for Friday's (1/17/2025) candle was rather bullish, I could see a fake breakout to the fib and then break back down into the channel. I also have a long position set up just...

PennantTrading

Short entry at the start of resistance. To enter or not depends on price action. Planned this trade using the daily chart. Target is the gap on the daily which also happens to be around were the 1hr 20ema is.

PennantTrading

ARKG consolidating in a rectangle. Two long entry alerts. One at the bottom of the box for a reversal, and one above the top for breakout.

PennantTrading

Possible entry is based on white support line which also happens to match up with a 1.618 extension on the daily.

PennantTrading

QQQ in downward channel. Two long entries towards the bottom and one short entry at the top.

PennantTrading

Sloppy line chart head and shoulders. Purple line is the neckline. Also drew some previous High/low support lines (white lines). Entry is past support lines and target is 1.618 extension from the last two daily candles.

PennantTrading

Weekly head and shoulders. 1.619 retracement matches up with .50 retracement. Center of channel in a down trend

PennantTrading

$ICPT trading in supply with a head and shoulders pattern. The right shoulder has been consolidating for a while, so the h&S may be rather weak. Also watching for a breakout to the upside if supply is breached.

PennantTrading

$CAKE range bound in between supply and demand. Watching for a breakdown below support for a short entry.

PennantTrading

$MAR consolidating after a big run up. Watching for a retest of the channel/previous supply zone.

PennantTrading

$DXCM up on volume. Looking for a retest here before entry. Still has a couple highs to break through as well as a support zone but the R/R is good.

PennantTrading

$CDNS broke through supply with volume before retesting on decreasing volume. The large red candle after earnings is slightly concerning. Watching for a continuation with strength.