Trade Review - DNA
When this stock was added to the watchlist, it displayed a bullish continuation setup on the daily timeframe. On the higher timeframe, there was also a potential for downside overextension, suggesting a possible pullback within the larger downtrend.
On the next chart, executions are shown. In anticipation of the trade, I look for a failed breakout against the trend—a failure test—where the price moves outside the lower boundary of an established consolidation. If it then closes back within the range, I sometimes enter before market close. For these trades, I often close a partial position as the price nears the upper part of the range, in case the range holds without a breakout.
Trade Overview
• Structure: Bullish Continuation (D) / Bearish Pullback (W)
• Position: Near Mean (D) / Extended from Mean (W)
• Entry Trigger: Failed Breakout (Opposite to Trend)
Entry Details
• Entry Price: 7.77
• Stop Price: 6.73
• Target Price (Range): 8.72
• Target Price (Measured Move): 11.62
Exit Strategy
• Exit Price: Closed 50% into 9.03 > Rest hit SL at 7.95.
Failuretest
Quantafuel : Hanging man posted at previous failure levelQuantafuel - Intraday - We look to Sell at 32.10 (stop at 34.50)
The hanging man candle on the daily chart is negative for sentiment. Price action has continued to trend strongly higher and has stalled at the previous resistance near 33.04. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. We look for a temporary move lower. The upward trending support line should provide the ideal target and fade level as medium term bulls build positions into the current weakness.
Our profit targets will be 24.90 and 22.85
Resistance: 33.04 / 34.32 / 36.40
Support: 26.50 / 24.90 / 22.85
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BTCUSD 4H BULLISH BREAKOUT OR BEARISH FAILUREBTCUSD 4H is in a range
Price at top of range
Range top @ 7156.6
Long Trade
Watch for a Bullish breakout
Entry long on 15m chart with a break-hook-go pattern
Previous high @ 8287 will be Take Profit area
Short Trade
Range top breakout failed
Price fell back into range
Range bottom @ 6009.6
Range bottom will be Take Profit area
Our pulse system is bullish so all we do now is wait for bullish breakout or bearish failure confirmation
This is our Strike Trader Elite Trading Strategy available on Tradingview now.
Any questions for us please PM us.
Failure Test Below $66USOIL bears couldn't hold below key support level around previous high of $66.66. Failure test is pretty much evident at this point but there's still a shimmering light of hope for bears. Oil bulls have already taken back 61.8% of the correction range, if supply fails to turn the tides around here, bears' stop buy orders will add on to the upward extension and the move could go parabolic.
EURUSD [Daily, Long] False Break/Failure TestMarket has been in a range from the 1.163 level to 1.207 level. Price action towards support at 1.163 is clean. Price took out the previous candle structure low on 7 Nov 2017. There was strong price rejection following this. Sellers who short the break of the support are now trapped, many would sell off their position when price goes to breakeven, fuelling the buying pressure.
Entry: Market order of 1.16373
Stop: I placed a more aggressive stop loss just a few wicks below the candle structure, referenced on the 4hr timeframe as that is where my trade would be invalidated. Also to trade with a larger position to fulfil a 1:2 risk reward ratio.
TP: 1.19 as I foresee price rejection at this region due to resistance.