ADBE coming back into the range, strong short squeeze potential
Updated
Trade active
Currently at $278, into the pullback zone. I have not taken a position yet but am closing monitoring.
Ideally I would like to see price exit the pullback territory on the downside and come back into it.
Then I would gauge an entry.
Note
Price wicked down to support just above $274. If buying at the end of the week is your thing, nice low risk/high reward play. I'd rather wait to see what until Monday/Tuesday to see what the new week holds.
It's too risky holding over the weekend in this environment, in my opinion.
Trump can too easily tweet something stupid over the weekend. Not to mention a potential military conflict with Iran is just a breath away.
The potential for a broad market quick significant downside is much greater than a quick significant upside.
Wait until early next week.
Trade active
Trading range has expanded below the pullback entry zone. A re-entry into the pullback zone, along with a 4 hour close above last week's open ($275.93) is my trigger to take the trade.
Target remains just below $310. (12% gain)
Stop will be an actively managed stop at/near/about the low from September 10th ($272.34). (1.3% loss)
R/R ratio: 9.23.
Unusually large R/R but very possible with the short squeeze that will ensue.
Trade active
Patience awarded those who waited until the new week. Trade is still off the table. Deeper potential pullback entry near $247-248 but yet to be determined. Need to see how this downturn shapes up.
Trade active
Keep an eye on a 4hr close above $279.32. Any entry above a 240min close of $279.32 with a protective stop of $276.63 is an excellent risk/reward trade. Determine your level of risk. Short-term target of $283.40. (5/1 risk/reward ratio)
Mid-term target of $290. (11/1 risk/reward ratio)
Longer term target is to blow out of short stops above old weekly and monthly highs to fuel price to new all time highs. (30+/1 risk/reward ratio)
Look to add with new highs on the the 240min and move up your protective stop as we go.
You can always re-enter if you get stopped out and a new entry presents itself.
Happy trading.
Note
Afterhours gap up to $295. Didn't get an opportunity for get a 4hr close above $279.32 during regular hours.
Looking for panic short covering on the open.
I will be using lower time frames to place trades.
Would be best to wait until the close of the first 60 min candle on the bottom of the hour but a low risk opportunity may present itself shortly after the open.
Trade active
ADBE full time frame continuity to the upside (monthly, weekly, daily, hourly). Trade is now a strong buy until the time frame continuity is no longer fully to the upside. Each hourly to the upside can be added with appropriate descaling below. A new 3Day bar prints tomorrow. Strong momentum to the upside by days end sets up potential for a strong gap on a new 3day.
Note
Full time frame continuity to the upside. Target 309.xx in sight.Trade closed: target reached
Target 309.xx achieved at $309.06. Trade closed.
Trade active
Trade back on the radar. Price attempting to continue expansion to the upside. Entry above $309.67 with target of setting new all time high at $313.12.
Stop under $308.
r:r 2.08 with blue sky breakout potential +++
Note
Previous entry triggered at $309.67.Add at continuation of $309.88.
Move stop to $309 (loss of 0.28%)
Target $313.12 (profit of 1.05%)
r:r 3.74
Trade closed: stop reached
$309 hit, stopped out. Reevaluate next week.
Note
On the radar:Pullback entry on the horizon.
Inside 60 min bar formed on a pullback.
Entry: $302.81
Stop: $299.50
Target: $330? (r:r 8.24) continuation of blue sky breakout into the highs, to be determined, approximately $330, expanding price to the trend line from set from the Sept 2018 high and July 2019 high.
Trade active
Entry: $302.81Stop: $299.50
Target: $330? (r:r 8.24) continuation of blue sky breakout into the highs, to be determined, approximately $330, expanding price to the trend line from set from the Sept 2018 high and July 2019 high.
Note
Trade management update: stop moved up to $302.50.Trade closed: stop reached
Stopped out 10 minutes before the close. 0.10% loss.
Tomorrow is another day.
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Back on the radar. $306.76 gets my attention to evaluate.
Note
Gapping on earnings above the breakout entry of $310.91 into new all-time highs. Full time frame continuity to the upside.
60 min entries into blue sky tomorrow.
Trade active
Note
Slap the ask on the 240min at $321.73.Stop at $319.40; target 333.xx with plus breakout potential.
Risk of 0.72%.
R:R 4.88.
Note
Pressing the gas above every new 60min upside break. Scale out with a 60 min break to the downside.
Definitive stop loss @ 3day lows, currently $327.26. Move up with new 3days.
Note
Trimming on 60min downside breaks. Next: $330.18.
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