Barclays (USA: $BCS) Showing Bullish Divergence On The Daily! 🌅Barclays PLC, through its subsidiaries, provides various financial products and services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK and Barclays International divisions. It offers financial services, such as retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services. The company also engages in securities dealing activities; and issues credit cards. The company was formerly known as Barclays Bank Limited and changed its name to Barclays PLC in January 1985. Barclays PLC was founded in 1690 and is headquartered in London, the United Kingdom.
BCS
BCS, Barclyas bullish trend continuation patteren spottedI believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be continuation or reversal.
It requires attention and care. Rather than turning out to be a factory of producing signals, it is better to sit down and look for a setup. Setups are important because we are planning a trade and execute them on time. If you fail to plan a setup, then you are planning to fail.
Another advantage of trade setup is that we know where to get out and the right time to go in. Know the market. Study the price movements and make your trades.
My charts use price movements, patterns, structures and indicators such as moving averages and oscillators. Trading intelligence is combining multiple knowledge to produce a favourable trade setups and plans.
CAT kills a Bear - What happend...Initiated this BCS bevor price broke back in the fork again (hint hint hint ;-) )
This is me, being impatient (proof: I'm human).
Because this is a risk defined trade, I leave it on with "hopium" that price come back again, below my strike of 90 (...LOL...good one Dude...).
Meanwhile I sell some puts to reduce some of my loss.
Next...
P!
BARCL: Ample downside to be seen in BarclaysThe chart speaks for itself, we have a very clear downtrend here, after breaking below the key earning levels above after the 'Brexit' induced volatility spike. We can enter shorts for continuation here, and look for prices around the 70 handle, without being overly optimistic (or pessimistic on European banks).
Price has to stay under today's high for this setup to remain valid, otherwise it would consolidate before eventually resuming the accelerated decline towards the lows.
Check out my updated track record here: pastebin.com
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: www.tradingview.com
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
TRADE IDEA: BCS COVERED CALLThis little fella was one of the plays on my lengthy post-Brexit list ... . Here, due to the cheapness of the underlying and my not wanting to be married to the trade longer than necessary (it might have further downside), I'm going covered call and tight in with the short call (also, if you go further up with the short call, you can't get squat in premium to reduce your cost basis in your shares). Here are the metrics:
100 Shares BCS at 7.34
1 Aug 19th 8 Short Call
Whole Package: $686 debit (6.86/share will be your cost basis)
Max Profit: $114 (if called away at $8/share)
BCS stuck in downward channel. FX probe doesn't help.Barclays and other world banks are currently battling a probe regarding their manipulation in the forex markets. Unlike other banks, Barclays has refused to settle and wishes to battle it out. This could have long term negative implications for Barclays. The loss of a license would be a painful disaster.
Technical:
Barclays has been stuck in a long established downward channel for over a year now. The stochastic indicator has been behaving in a very sinusoidal manner and the recent sell signal in the stochastic indicator suggests we are headed back to the resistance line. Wait for a cross in the 10 Day EMA and the 21 Day EMA for a more reliable confirmation. My low price target is $13.10. My highest price target is $14.86-$15.26.