SPY on weekly stays the course LONGSPY on the weekly chart is up 25% in the past six months. This is beyond its historical norms
even during a presidential election year. While there has been some volatility in both directions
the climb is consistent and persistent. The indicators serve to document this. The predictive
algo predicts more of the same. A price cut when the fed gets around to it will serve to sustain
the trend. Lack of it through the summer may cause a fade of momentum. Make hay while the
sun shines.
Bullishcontinuation
Netflix Descending Triangle BreakoutThank you everybody for dropping in on this trade idea setup in Netflix. Bullish descending triangle continuation pattern developing here looking like it's about to burst for next week or maybe this Friday as long as the market keeps going up. I want to make sure that I'm getting into these mega cap stocks because that seems to be the only thing that's really on an uptrend and making plays that are multi day uptrends. Another stock I'm looking at is Amazon because it seems to be basing out but I want to wait a little bit until after I get into Netflix before I jump into any other trades since I have a good amount of position size already allocated in my entire portfolio.
SCUSDT | Ready for Continuation?Market Context
Is SCUSDT poised for an upside continuation? With BTC rallying on positive CPI data, the stage is set for some altcoins to follow suit.
Strategy
The stars are aligning for SCUSDT, and I'm eyeing a high-risk, high-reward trade with a 6.63 RR. This is the kind of opportunity that can move fast, so timing is crucial.
Action Plan
Entry: 1M chart—be quick!
Let's catch this wave and see where it takes us. Stay tuned for a thrilling ride!
MSFT Bullish Continuation out of a Cup and Handle LONGMSFT on the daily chart shows the price action in the bull run out of the Covid lows then a
cup and handle pattern is printed and finally bullish continuation above the level of the cup.
Since the cup has a height of $145 and the level of the lip of the cup is $345, the pattern
forecasts bullish continuation for $ 145 above the cup's lip at $ 345 and so targeting $ 480.
I will continue to add to my MSFT position while watching for pivot lows on the 120-240 minute
charts. MSFT is a major player in the AI space and could even launch its own semi-conductor
division to compete with NVDA and the others. It has a healthy balance sheet and free flowing
cash from which to grow without dependence on interest rates coming down. The RSI indicator
shows consistent strength without signs of being overbought.
CMCM could chasing a Chinese internet stock be profitable? LONGCMCM is on fire with a 90% gain since the earnings report which was not verified by any
outside forensic accounting auditors . The Ciniese economy may be recovering with it
Cheetah.
The price-volume trend is impressive in the past month as a combination of the price moving
up responding to spikes of buying volume and positive volatility. I will enter this as a small
position chasing the momentum using a trailing ATR stop loss currently $.25 per share.
Since I will risk $25 in the trade for this small position I can take 100 shares as a long position.
I will continue to watch for selected Chinese stocks responding to the economic recovery to
exploit for gain.
GOOG- now at ATH completing A Cup and Handle LONGGOOG as shown on the daily chart has completed a cup and handle and has the momentum
of moving up to its previous ATH set 2/1/24 and November '21. This could forecast bullish
continuation to add $50-70 onto current price as so 30% onto the market cap. GOOG has
been relatively stable in the current general market environment. Earnings are coming in
three weeks. Google is dependent on ad revenues primarily and so its income stream is
relatively narrow focused no matter the variety of its services. I will take a long trade
here expecting good price movement heading into earnings with a trim of the position
just before earnings and stop loss adjustments at increments to diminish.
SMCI - consolidated - ? Continuation or ? Reversal SMCI has been on an impressive trend up since the first day of the trading year. On the 15
minute chart It had a healthy 12% pull back about February 22-29 but then rallied again on
a reversal upside to nearly the ATH of $ 1075 set on Friday 2/16. I note that traders like
to trade SMCI on Fridays and likely are chasing same day expiration call options. I know this
because I have been one of them. SMCI is now in a high tight bull flag pattern. Typically
this is bullish for another leg up of equal magnitude after consolidation. I will suppose
the probability of a breakout higher is 75% and breakdown 25%. I may play this with
a set of stop orders. A buy stop at $ 1030 and a sell stop at $ 1005 with a share proportion
set equally. When SMCA breaks from the consolidation one of the two orders will trigger
while the other will be in play until cancelled or triggered. My bullish bias is that the buy stop
will trigger and I will miss only a small piece of the price action in the initial continuation.
I will assess for a call option trade upon continuation. The volatility indicator helps me pick
entries with an alert set for volatility beyond the running mean either bullish or bearish.
TSHA a medtech penny stock pumps on news and earnings LONGTSHA is a gene technology medical company which reported on its clinical trials for Rett
Syndrome which is a neurobehavioral disorder separate from others like autism or
schizophrenia. This could be a breakthrough medication for those who suffer from Rett.
TSHA102 could be heralded as a miracle treatment ( not a cure). Price had trended up
in February and then down in March and is now situated at the mean anchored VWAP.
Relative volumes are 5-10X the running mean. I am taking a sizeable position here based
also on my background as well as the forecasts of medical technology stocks as being hot right
now especially small caps. Risk is definitely on. TSHA has been selling off parts of its pipeline
to fortify its core. This tells me leadership is realistic and has a survival plan which is a big plus
in the world of young and small medical technology companies. The earnings report from
yesterday showed a big earnings beat and a transition from cash burning to positive earnings.
Part of this is from selling off part of its future. Nonetheless, that future may be very bright
with what remains. I believe that TSHA will consolidate and gain consensus as to fair value
but then resume bullish continuation. This may be a buy and hold until the next earnings while
watching for clinical trial news that will give a hint as to the growth path.
EURUSD to 1.1 per dollar??Another one for the forex traders or fiat currency traders.
EURUSD is bullish on weekly as we are currently at Entry for Long Orders,
Then based on this Timeframe, you can execute long orders at current price, i took my entries early but market might correct a bit back to entry.
We have just finished or completed correction, and about to continue going up from here, Initial target is 1.1 dollars, then lock and let the big boy run to new Highs.
NFA as always, awesome trading, Enjoy.
VINC continuation play LONGHere on the 30-minute chart is my idea for the continuation of my VINC idea posted here before
the current breakout. Price is presently in a consolidation ascending regression channel .
The choices for a play are to wait for a break above or below the channel or alternatively
play the price action inside the channel. Since price is currently at the bottom of the channel
I will go long with a stop loss under the channel. Upon reaching the top of the channel I will
close half the position and then watch for a break of resistance or a rejection down and then
trade accordingly. Overall, I believe that this is a high-tight flap pattern and VINC is
accumulating gradually and will move higher when the accumulation saturates as per
Wychoff's theory.
JAN on watch for bullish continuation LONGJAN had earnings but I cannot find the report. It is trading with heavy volume and it shows in
the price action. Price has pulled back in the after-market in a standard Fibonacci retracement.
A pullback is appropriate here as price has gained 250% in a month. I see the pullback
as healthy and JAN is now well positioned for another bullish continuation. Volatility
and volume supports the conclusion. I will set a stop loss at 10% and targets at 50%, 75% and
100% to take partial profits on an anticipated trend up. Alerts will be set onto a set of
moving averages on the 30 minute time frame to detect death cross unders. Once profit is
hits 10% I will change the stop loss to a trailing 10% stop loss and once above 75% make the
trailing loss 5% and once over 100% change it to 3% so I can let the trade run itself from
those orders.
MVIS Microvision breaks higher from earnings LONGMVIS is a volatile penny stock with daily volumes in the 20JK range and a low float. Yesterday
was a decent earnings beat. MVIX was already trending up into the earnings and now may
sustain that trend up. Volatility and volume indicator support my supposition that the trend
is real. The target of the consolidation period of February 8-13's price level of 2.58 is
13 % upside. I espect this to be a long swing trade lasting a few days. Upon reaching the
target I will take half the position to realize that part of the profit and run the rest.
Post Earnings Continuation to 585This idea is an update to my original idea "Earnings Pop to 520" (see link).
NFLX needs to make a sustained break above 569 to initiate the next move higher to 585 (minimum target).
Once we get this break it will take the following path - expected path is the black arrow:
- Run to 585 (by 2/2/2024 earliest, 2/9/2024 latest)
- Pullback to test 577 for support
- Then at least one more leg higher to 600-620 ( point target = 610 by 2/16/2024)
The green funnel represents buying pressure that will drive this higher. The most important channel is the dashed deep purple/blue boundaries w/ solid blue center - this is the demand zone that it will respect during the markup.
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Bigger picture:
If you go back to Jan. 2022, there is a gap down from 563.36 - 566.88. The earnings pop filled this gap and we are currently establishing support in that range.
Confluence at the 585 level as an initial target:
- 0.786 retracement of the ATH (700.99) back in Nov 2021 = 585.80
- larger degree activate markup level at 585, this will act as another bullish driver to send this higher to 610 after 585 is tested
- Equilibrium levels where supply = demand at (2/2/2024, 583) and (2/5/2024, 584)
** Stop loss is a sustained break below 556. It can trade below that intraday, but if it closes below 556 on 2 consecutive days it will assume risk of dropping lower to test 537
Good Luck bears, bulls still have this.
~Jerrymandering 101
PLUG - flagging at rest for continuation LONGPLUG on the 120 minute chart is resting on its trend up. Earnings are about 4 weeks ahead.
The uptrend has been solid. Two bull flag patterns are noted along the way. They follow
pops on the Relative Trend Index indicator also showing bullish buying volatility on the
Relative Volatility indicator. I see the rest ( consolidation) as a good point to add into my
ongoing long position for PLUG which recently got an upgrade and higher target by more than
one analyst. For a basic and simple trade, take the 3rd upper VWAP band at 6.35 as the target
the mean VWAP at 4 as the stop loss for a basic3:! R:r trade. For something better zoom into
a 15-30 minute time frame reset the anchored VWAP and fine tune.
AMZN solid earnings high volume for 10 months Cup and HandleAMZN has risen lately above the lip of the cup of the pattern on this 4H chart. The pattern
suggests $ 50 USD upside or 35% beyond present price. The chart shows the buying coming
in once price reached a rounded bottom an began an uptrend. Earnings beats have been
significant especially compared with the miss a year ago. AMZN is like the massive river with
branches feeding the volume of the river's depth and breadth downstream. Its dominance
and resilience is impeccable like others in the titans of tech. Price is now in the ascending
bullish continuation portion of the handle. I see this as a setup for a long swing stock trade
as AMZN heads into the next earnings. Another long play is call options in five weeks at
$ 156 or six months expiration at $176 strike which is the head and shoulders pattern of 2021.
Mastering the Cup and Handle Pattern in Forex and Gold Trading
In the world of forex and gold trading, recognizing chart patterns can be your key to unlocking profitable opportunities. One such pattern, the Cup and Handle, offers traders a powerful tool for identifying potential bullish trends. In this comprehensive article, we'll explore how to identify and trade the Cup and Handle pattern in both forex and gold markets. We'll provide real-world examples to help you navigate these exciting trading opportunities.
Understanding the Cup and Handle Pattern
The Cup and Handle is a bullish continuation pattern that resembles the shape of a teacup. It consists of two main parts:
1. Cup: The first part forms a rounded bottom, resembling a cup. It typically follows a downtrend and represents a period of consolidation.
2. Handle: The second part is a smaller consolidation or retracement, forming a downward-sloping channel or flag pattern. It resembles the handle of a cup.
Identifying the Cup and Handle Pattern
To identify and trade the Cup and Handle pattern, follow these key steps:
1. Downtrend: Look for a significant downtrend that precedes the formation of the Cup and Handle pattern.
2. Cup Formation : The cup should be a rounded bottom, indicating a period of consolidation or accumulation. The depth of the cup can vary, but it should generally resemble a "U" shape.
3. Handle Formation: After the cup, there should be a smaller consolidation or retracement forming a downward-sloping channel or flag pattern. This is the handle of the cup.
4. Volume Analysis: Analyze volume trends. Typically, there is a decrease in volume during the handle formation, signaling a temporary pause in the trend.
1. Forex - EUR/USD:
2. Gold - XAU/USD:
Trading Strategies
1. Entry Point: Enter a trade when the price breaks out above the handle's upper boundary. This breakout confirms the bullish sentiment.
2. Stop-Loss: Place a stop-loss order below the handle's lower boundary to manage risk.
3. Take Profit: Estimate the potential price target by measuring the distance from the cup's bottom to the handle's breakout point and then adding it to the breakout level.
The Cup and Handle pattern is a valuable tool for identifying potential bullish trends in both forex and gold markets. By understanding its components and following a structured trading approach, you can leverage this pattern to make informed trading decisions and potentially unlock profitable opportunities in your trading journey. 🏆📈💰
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USDJPY, Potential Bullish continuationPreviously UJ took a turn and retraced down to a respected daily supply/demand area @114.929. Currently we are looking at a continuation of the bullish trend, however we must first wait to see if there will be a breakthrough at the 4hr supply/demand area @146.504. If a breakthrough were to occur, wait for the closure above @146.504 price area. Once a four hour candle closes above the @146.504 area, be patient and look for potential areas for pullbacks to then enter a long/buy.
NIO finishing a Fib Retracement Ready to Continue LONGNIO on the 4H chart was on an uptrend into a double top in late July and Early Augus. This
was confluent with the second upper deviation line above the mean anchored VWAP line
which is thick black. Now on the retracement price has hit the mid-Fibonacci levels of
0.38-0.5-0.62. The MACD is sowing an early buy signal with a line cross under the histogram.
I see this as a long trade on continuation with some early bullish divergence with a
the potential upside of 20% back to the VWAP lines whose resistance forced the double top.
I will put this on my China watchlist watching for the pivot low from which to enter.
CTRM High Tight Bull Flag in Consolidation LONGCT
CTRM jumped about 20% with earnings in my idea published as that was occurring.
It is now in consolidation for two days on the 30 minute chart in what appears to be
a high tight bull flag pattern. These patterns are typically predictive of a bullish continuation
with decent reliability. The continuation can can be as much as the height of the flag
pole which is about 0.13 and so a continuation could be in the neighvborhood of 13/57
or about another 22% higher.
My trading plan is I will buy when price breaks above the flag's parallel channel with a stop
los below the channel. If there is a breakdown I will consider going short with a stop loss above
the parallel channel. Longside my target will be 20%. If I go short, I will target a 50%
retracement and so about 10%. For the time being, CTRM is on my penny-stock watchlist
as a long trade.
RAD Rite Aid Bull Flag consolidation RAD recently popped in a big way and on the 2H chart is now settled in consolidation
about 67% above the prior base. That is to say, it is in a horizontal channel awaiting
further volume and direction from traders. The bias is for a bullish breakout of
continuation and momentum. Potentially RAD could rise the height of the flag pole
but this seems unlikely given the current general market. the dual RS indicator shows
support at the 50 level a good sign the retracement is over, The MACD lines are dancing
around under the histogram. I am putting this on watch. If RAD goes over the top of the
channel I will go long. If it goes under the channel I will go short. I could do both and hedge
but that is complicated and with more risk. The stop loss is outside the opposite side
of the channel. My target is a more up or down about 50% of the completed move represented
by the flagpole. I consider RAD a mem stock with a potential short squeeze in process.
Buckle up and drive safely. DYODD.
NKLA Cup and Handle Pullback for Long EntryNKLA on the 2H chart appears in a cup and handle pattern with the full pattern
including the bullish continuation now printed. The pattern predicts $ 2.00 of
upside . While the fundamentals of a change of CEO may be concerning, the
the creativity of finding cash during a slow cash burn without diluting current
shareholders. Perhaps he will have two classes of shares as a remedy. There
are upsides to "fresh blood". NKLA has been on the rise for two months albeit
with some volatility as seen in the price oscillation from the base of the cup.
The uptrend is that of a parallel ascending channel.
The rise of the amplitude on the AO indicator is reassuring and shows the
bullish momentum has the strength of bull legs. I see the pullback in the
last trading session as a buy entry. Let's go long! If you are interested in my
suggestions of the stop loss and targets or an equivalent options trade, leave
a comment. If you found this idea helpful, please like and subscribed.
BTBT- 500% YTD Pullback for Long EntryBTBT, a stock with cryptocurrency mining activities, has been on a long sustained trend up
this year of 500% reflecting the crypotcurrency recovery and resurgence. In the past week,
it has pulled back and is now setup for an entry. This stock is similar to RIOT and MARA but
with a lower price and market cap. It had been trending along the second deviation line above
the long-term VWAP anchored at the beginning of the year. The pullback to the first deviation
the line above VWAP allows for an opportunistic long entry. The ascending amplitudes of the K
/D line excursions on the MACD indicator are confirmatory for the bullish momentum. I will take
a long trade here expecting a 50-100% return over the slow trading of the remainder of the
summer. I believe this will further diversity the portfolio by exposure to the crypto sector.