NASDAQ : New uptrend in sightObserving the price dynamics of the last daily candlesticks, we see that from the high of February 2nd, the market has started a retracement movement, creating bearish swings that have brought the price back within the dynamic channel, reaching LuBot's TrendCloud.
We now see a bullish signal with large volatility closing above all major moving averages after the last swing low hit the ema21 Weekly and creating a new positive swing from which the positive swing count could restart.
Considering that the candle closed on the resistance level, I could expect a short retracement that could bring the price around 12150/12050, a movement that I will use to enter my Long entry with stop loss below the last swing low and take profit in the maximum area at 12700.
Observing the Weekly chart below, we see that a beautiful price dynamic has formed which shows how the breaking of the high of the following weekly candle would trigger a trigger that could bring the prices to the 13500 area where we find the next more resistance area important.
Let's keep an eye on it in the next few days because there could be several signals of following the trend.
For this analysis I mainly used the LuBot indicator with signal settings set to "MultiSignals", Signal style = 1, no limit on signals.
If you want to use it too, you can ask me for a free 7-day trial without obligation.
Best wishes and happy trading to all
Allin1
GOLD : Long trade with LuBotHi Traders,
today I am sharing a trade setup that I entered into my portfolio using the LuBot indicator. Below I explain the reasons.
1. The indicator shows one last Long signal so I decide to follow bullish trades only.
2. The main trend of the last few months is up so I prefer to follow the operations in Trend
3. In the last few days we have seen a short-term negative trend that brings the price action to the ema100 which acts as support, generating a bullish reversal candle
4. From February 7 to today LuBot shows continuous signs of reversal. We are therefore in an area of strong oversold.
Although the trade could have a strong probability of success, I prefer to remain cautious and place a stop loss immediately below the low of the daily candle with a lower risk than that usually used.
Although we are in an uptrend, the swing highs and lows are decreasing and we could still see a negative trend development. We must always be ready for any situation.
In this regard, I have entered a very tight Take Profit, on the closest resistance area that matches the ema21.
I then insert Buy stop entry on the break of the high of the Daily candle.
The signal setup that I used for this analysis is:
Swing Signals, signal style = 1, limit signals type 3.
In this way I have a broader view of the signals that appear only when there is a change of direction to follow and never entering directly on the signal.
DOW JONES: Long setup with LuBot indicatorAs can be seen on the graph, a good entry setup has been formed on the Dow Jones index through the use of the LuBot indicator.
We have several points in favor of a Long trade including:
1. The last signal shown is Long, in this case we will only follow the entry setups for purchases;
2. TrendCloud is positive and supportive
3. Price returns to TrendCloud and closes above ema21
4. A new Swing HL (HigherLow) is formed so we have a higher low than the previous one
5. ema100 higher than ema200, this indicates a bullish configuration
6. The color of the TrendCandles candles are green thus favoring the Long setup
By Cons we have only the trend channel that intersects with a resistance level . This could slow down or limit your ascent. So I recommend caution.
The Trigger would occur at the break of the previous high where a Buy stop order can be placed.
I enter the Stop Loss below the last 2 swing lows and the Take Profit on the next resistance level .
The risk-return of this short-term operation is 1:1.3
The position will be managed according to the next movements. If the market shows no strength to reach the take profit you could close the trade manually.