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Chartpatterntrading

Bearish Flag on USD/CAD @ D1A bearish flag pattern has formed on the daily USD/CAD chart following a peak and reversal in its previous uptrend. The pole and the flag borders are shown with the yellow lines. The stop-loss level (the red line at 1.35296) is set to the highest point of the flag area. The take-profit level (the green line at 1.31309) is set to the pole's length subtracted from the stop-loss level. I will open this short position only if the currency pair closes significantly below the flag's lower border.
Short
by AndriyMoraru
6
NVDA: A Dangerous Pattern Appears.• NVDA is doing a pullback to its 21 ema, which is a normal movement. The problem is that this correction is occurring after it found a strong resistance at 280; • This could be the beginning of a Double Top chart pattern. In order to trigger this pattern, NVDA would have to lose the 263 support line, which is the previous bottom area; • In this scenario, NVDA would seek the 244, the next support line; • In order to avoid this bearish thesis, it is important to see NVDA doing a bullish reaction, preferably above the 21 ema, and breaking the 280 as soon as possible; • So far, it seems NDA is just doing some range trading between its two key support/resistance lines. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
2
TSLA: Trading at a Critical Support Line.• TSLA crashed after earnings, but it seems it wants to stabilize around the 163 support line; • So far, TSLA has been moving with technical precision, as we already discussed this bearish scenario in our previous analysis (link below this post, as usual); • Now, in the daily chart, TSLA just hit its technical support at 163. So far, there’s no bullish reaction indicating that it is doing a bottom sign – but this could change very soon; • If TSLA loses the 163, then it’ll probably try to fill the gap at 146 in sequence. • In the weekly chart, the situation is critical, as TSLA is on the verge of triggering a Descending Triangle chart pattern downwards; • What’s more, the last two candlesticks hit the 21 ema as a resistance as well. This reinforces our idea that it could hit 146; • In order to avoid this bearish scenario, TSLA would need to react as soon as possible, and trigger an extremely powerful bullish reversal pattern – so far, there’s no such sign; • I’ll keep you guys updated on this, as usual. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
6
QQQ: A Dangerous Chart Pattern Appears.• QQQ is trading inside a range, between the resistance at 321, and the dual-support area made by the 21 ema + 313; • Only a breakout would bring something new. If QQQ triggers an upwards breakout, it’ll just resume the bullish bias, and seek the next resistance at 334; • On the other hand, if QQQ loses the dual-support level, it would trigger a Double Top chart pattern, and in this scenario, it could easily correct all the way down to the304 again;; • So far, there’s no breakout yet, but QQQ is approaching its dual-support area. It all depends on how it’ll react around here. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analysis.
NASDAQ:QQQ
by Nathan_The_Finance_Hydra