EA - Head and Shoulders Possible short play if this is a legitimate head and shoulders pattern. There is a long term uptrend, which makes me skeptical of this actually occurring; but there is always that possibility. Best to wait for some buildup or a pullback to a possible drop.
There was a similar pattern around Dec 2019-Feb 2020, which resulted into an initial short drop, but a subsequent strong pullback to the previous highs—before the sharp drop to 88.4
EA
09/08/2020 EURAUD - WEEKLY PLAY LONG TF H4Welcome,
Below you will find our trading notes:
Monthly view - BULLISH
Weekly view - BEARISH
Daily view - BULLISH
Previous week LOW - 1.6386
Previous week HIGH - 1.6558
Previous week profile - BEARISH, ACCUMULATION
News this week:
11/08 TUE - 3.30
13/08 THU - 3.30
14/08 FRI - 1.30
Where to focus:
LONG SIDE SETUPS ONLY
LIQUIDITY BELOW : 1.6340
SUPPORT STRUCTURE : 1.6355 -> 1.6385
SUPPORT LOWER STRUCTURE : 1.6310 -> 1.6340
LIQUIDITY ABOVE : 1.6550
RESISTANCE STRUCTURE : 1.6610 -> 1.6690
Weekly scenario:
We expect pullback to one of our defined support structures, where we'll look for entries long.
If first support structure is broken, then we focus on entries on the lower support structure.
If second support structure is broken, we will move to side lines.
If we'll see push from our long side zones, then first TP is 1.6550 but over all target is 1.6610
Protection strategy:
SL up to 20 pips below support structure
REMEMBER!
NEVER BE GREEDY AND DON"T FALL INTO EMOTIONS :)
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HAVE AN AMAZING DAY!
ENJOY
EA good for Long-Term. Here's Y:NASDAQ:EA P/E: 11.46 PEG: .94 Price action above 20, 50, 100 day averages, EPS Past Five Years: 165.3% , EPS Q/Q: 36.6%, ROA, ROE, ROI all above average and high positives, Gross Margin: 75.3% , Profit Margin... Cons: None. Stay at Home kids buying video games. Great pacifier for overwhelmed parents
Activision - New lows ahead?With equities being enormously stretched to the upside in recent months, it is wise idea start preparing for some short exposure.
One idea, I am looking at is NASDAQ:ATVI $ATVI
After halving in later 2018, during 2019 it is building what looks like a major bear flag. Wave structure, with price near 0.618 level, also suggest that the top might be near and reversal may start relatively soon (probably though we will get gap fill at first).
For entry some support trendlines also need to break first, and I will be watching for this development.
P.S. NASDAQ:EA chart is somewhat similiar $EA