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TSLA: A Powerful Turnaround is About to Happen (D & W analysis)!Since our last study, we have observed that TSLA shares are trying to resume the medium-term uptrend by attempting to break through the last top at $246.70. The problem is that the price failed to close above this resistance on the daily chart, so the upward movement failed to materialize. The link to my previous public analysis is below this post, as usual. On the other hand, the bears failed to take the price below the support at $226.37, the previous top that should act as future support. TSLA shares would only reverse the bullish sentiment if they made a lower bottom than the previous one, breaking through the last support at $226.37. For now, it looks like the 21 EMA is serving as a very good support point. So, if you ask me, the trend is still up, as the price movement pattern is still one of higher highs/higher lows, trading above the moving average, even if it hasn't officially broken through the last top at $246.70 (and closing above it). And in fact, this is an interesting point, as confirmation of a bottom signal in the vicinity of the 21 EMA could trigger the next bullish rally - and the price is reacting well so far, but there is no confirmation yet. The bearish reversal point would be $226. The weekly chart shows how critical the moment is for TSLA shares: The price has just hit the resistance of its Descending Channel for the fifth time, and as usual failed to break through it. That's why if the price loses the $226 area, we could see a continuation down to the support line of this channel, well below $200. But what if the price reacts and breaks through the resistance to the upside? Then we'll have something new, which in my opinion would be a technical turning point that would take the price to the next resistance on the weekly chart, around $300. There are opportunities in the medium term, but the price needs to react and confirm a breakout of one of its key points, either resistance or support, to confirm a real reversal. I'll keep you updated, so remember to follow me and support this idea if you find it interesting. Remember, we can't predict the future. Real trading is reactive, not predictive, so let's pay attention to the key points mentioned in this analysis. Best regards, Nathan.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
2
#OIL potential reverse Head and Shoulder formationHello dear traders. Let's take a look at the oil chart for today and identify the potential Reverse Head and Shoulders chart pattern formation. As the price reacts to the bearish 4-hour timeframe channel , it seems to be forming a Reverse H&S pattern, which could potentially result in a bullish outcome for the price in the coming days. We observe good synchronicity between the two shoulders around the head, with approximately the same amount of time taken to form the pattern. Additionally, the price has established a well-defined neckline, which, in the case of an upside breakout, can act as support thereafter. As you may know, the H&S chart pattern is considered complete once there is a valid penetration of the neckline ; until then, the pattern is considered tentative. If you've found this analysis helpful, please take a moment to like, comment, or share your thoughts with me.
CAPITALCOM:OIL_CRUDELong
by mohemati
13
BluetonaFX - EURUSD Trendline Support Break Bears Are In ControlHi Traders! EURUSD is trading with bearish momentum after a trendline support break on the 1H chart and is on a pullback, which provides potential opportunities for short entries to take advantage of the potential pullback to target levels near the daily and weekly low at 1.09202. Price Action 📊 After the initial break and close below the support trendline, the market is now on a pullback near the swing high resistance level near 1.27466. Our plan here is to sell rallies and look for exits near the current daily and weekly low around the 1.09202 area. Fundamental Analysis 📰 Later today, we have ECB President Lagarde speaking; therefore, we must be wary of her speech, as what she says may be potentially volatile, especially for EUR pairs. Support 📉 1.09202: DAILY AND WEEKLY LOW Resistance 📈 1.09840: DAILY HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX
2
EURUSD : FOREX Edu for DayTraders 📉Hi Traders, Investors and Speculators of Charts📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year 🏫 For the biggest part, I prefer to trade reactive rather than predictive. Chart patterns really come in handy with this strategy. Here are my top easy to spot chart patterns, specifically focused on bullish chart patterns today. The green highlight dots are to help identify the margins of the pattern and the purple highlighted dot is where entry can be taken. Please enjoy this free educational gold nugget ! Are you also trading crypto? Check out this altcoin idea with bullish upside potential : _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
38
[EDU] Trading the Chart pattern SeriesTrading the Chart pattern Basics and Advanced Concepts Anatomy of Head and Shoulders Head and shoulder could possibly be one of the most common chart pattern we see on the chart. So what makes up this pattern? They are: 1. Left Shoulder: > The left shoulder forms as the price initially rises and then experiences a pullback. This creates the left peak of the pattern. > The pullback is typically less severe than the subsequent pullback after the head is formed. 2. Head: > The head is formed when the price makes a higher peak than the left shoulder, indicating a strong upward movement. > The head is the highest point in the pattern and is often characterized by increased trading volume. 3. Right Shoulder: > Following the formation of the head, there is another pullback in price, creating the right shoulder. > Similar to the left shoulder, the right shoulder is usually lower than the head and is accompanied by a decrease in trading volume. 4. Neckline: > The neckline is a horizontal line that connects the lows of the left shoulder, head, and right shoulder. > The neckline serves as a support level, and a significant break below this line is considered a confirmation of the pattern. This is Shown in Figure 1 Advanced Concept Of course, the world is not Perfect, and so is the financial market. "textbook" head and shoulder patterns would be a small fraction of the head and shoulders formed in the market. Therefore, we should also be aware of "catching" these other variants! Complex head and shoulder Figure 2 > could be one that has more than 1 left shoulder. > Right shoulder made a new Lower Low, tell tale sign this uptrend is weakening Extended head and shoulder Figure 3 > the left and right shoulder showed extended stretch in terms of duration but still it is a head and shoulder in nature > at the same time, this pattern also brings out to yet another variation, head and shoulder no necessarily is a reversal pattern. In this case it is a trend continuation pattern!(if you didnt realize that) :) Head and shoulders pattern as continuation Pattern Figure 4 > over here we have a trend continuation pattern of head and shoulder > 2nd, it has a slanted neckline > other than that it is pretty much a classic head and shoulder. Hope you all learn something from this article! Cheers. Follow and like my post if you find it useful! Thank you!
Education
by Shadowing_The_Big_Boys
1
A possibility of a 100% move in Confidence Petroleum India Ltd.The stock is in a ascending triangle setup on weekly timeframe. The 90-95 zone has been providing some resistance for the stock since 2021 and preventing it from launching above the INR 100 mark. But this 90-95 supply zone is now getting weaker since the constant rising demand for this stock wont let it dip below its previous lows every time and it is thus creating a beautiful upwards rising support zone. The triangle breakout(when it happens), suggests an upward target of around INR180 for this stock. Volume too has picked up this week. It should not take very long now for the breakout to play out. On the downside 80-85 is good support area for the stock. Note*- The views expressed are personal opinions/observations. Please study technicals &fundamentals of a stock thoroughly before taking any financial decisions.
NSE:CONFIPETLong
by neeraj_2_sharma
3
Symmetrical Triangle on USD/CAD @ D1This daily chart USD/CAD formation resembles a symmetrical triangle pattern. It can be used for a trend continuation breakout setup. My potential entry is marked with the cyan line, which is located at 10% of the triangle's base width above the upper border. My take-profit will be at the green line, which is located at 100% of the triangle's base width above the upper border. I will set my stop-loss to the triangle's lower corner (1.36292). Bearish breakouts from this formation are to be ignored.
Long
by AndriyMoraru
4
Costco the case for higher highs maybe probableHI guys. This is an analysis thread to assess the technical developments found in Costco. I will layout some general findings on the macro scale, then update as new developments proceed in the technicals for COST. The purpose is to provide unbiased TA opinions, where i give both bearish or bullish cases depending on facts in charts to help make informed trading/investing decisions. Initial analysis will be on the 1 week timeframe. First things first. The 2 Ascending triangle patterns found. A blue one A black one Notice the Black triangle, this is a larger or more influential pattern developing since May 2022. It holds more wait if signs show we a breaking out of this. Targets would be $680-720 range. Confirmation of a test of support Above the horizontal upper black trendline is needed. This would indicate a continuation of COST previous uptrend, as Ascending triangles when confirmed are strong continuation patterns. The smaller Blue Ascending triangle seems like a intermediate term consolidation area as well. Notice how prices have consolidated Above the Black horizontal trendline of the bigger triangle, for weeks. We have closed Last week ABOVE Blue triangle. We must await confirmation of this breakout. This could mean we are breaking out of both Triangles. Look also to the 21 EMA (Purple colored moving average). We have recently bounced off of a support test. This is a great sign. This can be a future support test area also. But i always look at it as a level of defence. It has moved up to the $550 level. Overall, $550 level is critical support level now. Below it we go back into the larger ascending triangle, if we do go back below, this would indicate a fakeout. An important thing to observe is VOLUME. For this move to follow through, we must see an increase or spike in volume. Which currently doesn't seem like its there. Which could lead to a fakeout. So we must pay attention. Remember Volume can really make or break a move especially a chart pattern. Momentum indicators STOCH RSI and MACD are showing signs of bullishness STOCH RSI has a BULLISH CROSS. MACD is attempting to cross Bullish. If MACD crosses, this will give signs that uptrend is now more likely. Taking positions must be done after COnfirmation or a decisive move Up. Never take positions inside of a chart pattern, always consider entering after confirmation of breakout. __________________________________________________________________________________ Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. Stay tuned for more updates on COST in the near future. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
NASDAQ:COSTLong
by SafofAllTrades