LCID has another falling wedge breakout LONGLCID is making its move while Fisker got halted and will be delisted. LCID has a rich uncle, a
Saudi billionaire running the national wealth fund there. Fisker lost its suitor in Nissan and tried
to raise cash by selling cars under cost. I would be afraid to buy a car from a company about
to head into bankruptcy. Anyway, time to buy LCID for now, it has a vaccine against the
contagion. I happen to be very fond of falling wedges especially when they repeat. My skills
in Elliott Wave analysis are nil but this is one to analysis. In the meanwhile, it's a buy ( no
I am not a fan of Jim Cramer.)
Fallingwedgebreakout
LCID Long Trade Setup VWAP and Falling Wedge BreakoutsLCID on a 30 minute chart showed a falling wedge from mid-December to late January then with
breakout which took it 30% in one and a half days. This was a previous idea. I believe the news
catalyst from Saudi Arabia prompted a burst of trader interest. The following day, the price
began another falling wedge pattern for one week. It then broke out for a 10 % move in a short
time interval.
The chart also demonstrates the bigger moves are centered around VWAP band lines where
trading volume and volatility are the greatest. The relative volume and volatility indicators
help emphasize this point.
At this point, LCID may be turning down into another albeit smaller and lower-duration
falling wedge and is well positioned for a brief short trade. The target would be the
mean anchored VWAP at 3.25. For a better entry selection, a zoom into 3-10 minutes would
be helpful
SOUN breaks above falling wedge LONGSOUN has been falling since March 21st and in the past week in a falling wedge pattern.
It broke out above the wedge early in the 4/4 session and I opened my long trade position
soon after in three separate pieces. I have set targets based on pivots or consolidation levels
on the trend down including a standard Fibonacci retracement. The trend up will be
slow perhaps due to the general technology market recovery of the correction made for
the ambiguities of the rate cut. I am projecting a trade profit of 30-40 %.
UVXY - VIX Futures ETF- rises from a falling wedge breakout LONGUVXY on the 30- minute chart is now in an establish falling wedge breakout. Increasing
volumes lend support for bullish momentum as does the fear that rate cuts may be postponed
the the market's bullrun may stall and correct. This chart is left clean with only trend lines
drawn in recognizing that quite a few traders only have a basic subscription on Tradingview
without the luxury of multiple indicators, alerts and so on. A rise in the VIX may be a signal to
start trimming long positions or hedging with short trades.
EXK ffalling wedge breakout after silver mining earnings LONGEXK is a silver mining company with operations in USA Canada and Mexcio. On the daily chart,
it has been in a falling wedge for more than six months. The earnings report was a 40% beat on
earnings and 2% on revenue. Price broke above the wedge one week earlier. The price action
has been supported by higher volumes. The Price Momentum Oscillator and Relative Trend
Index indicators provide further documentation of the bullish momentum. I will initiate
long trades of shares and call options here. I am targeting 3.5 for 40% upside. I will take
off 1/3 of the trade upon reaching 3.0 and convert the stop loss to a trailing 5%.
KOLD triple leveraged inverse ETF for Natural Gas LONGKOLD on the 15 minute chart shows a prior uptrend followed by a large falling wedge pattern
from which in broke out then to form another smaller falling wedge. Anchored VWAP bands are
added showing price is now just above the support of the mean VWAP line also confluent
with the Fibonacci retracement of the uptrend of the first 20 days of February. The RSI
indicator shows relative strength low and less low time frame lines near to the 50 level.
I see this as an excellent setup to take a long trade in KOLD with the target and stop loss
on the chart looking to capture 15% upside.
The Rising Sun - SOLARA ACTIVE PHARMASolara Active Pharma went thru a Turmoil after its Ex-CEO resigned almost 2 years ago citing reasons for his failure to manage the company's profitability
After the new management took charge - it took 18+ months to stabilize and now to turn the stock to Bullish mode.
Technical Pattern:
On Weekly - Solara BO of a Falling Wedge Pattern from Jun 2022, but after BO it faced major resistance at 450 levels forcing it go down and Retest the BO zone
After Successful Retesting, the price took a strong Bullish Reversal and today trading approx 11% higher and testing the 450 zone again. This time, it has formed a Strong Rounding Bottom Pattern. A strong BO above 450 WCB will take the stock to 550 levels quickly, but this is not the end - there is much more distance to Cover for Solara
the subsequent targets given at 840, 1200++. Its a Multi-bagger in the making. Don't miss out this Master Blaster
Disclaimer:
3+ Years Teaching Experience in Stock Market - Technical Analysis, Advanced Patterns, Emotional Management, News based Trading...
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XAUUSD FALLING WEDGE BREAKOUTHello traders,
Gold has broke out of the falling wedge pattern, the fair value gap has been filled and the chart is balanced. Gold has been forming a higher highs and higher lows which is a plus for the Pattern. Live a like and comment down below what you think about my analysis.
Enjoy!
2310: SAHARA INTL. (Falling Wedge Breakout and Retest)Price moving within Falling Wedge for quite some time.
Breakout and Retest is observed
Formation of HH, HL
Support from MA 50,100 (Cross) -->1H TF
Support from EMA 200 (Cross) -->1W TF
Fib Levels and Horizontal Suppport Levels are marked for TPs
possible formation of AB=CD in process
Trade with Stop Loss
Ride the trend with trailing stop loss
2010: SABIC (Falling Wedge Breakout)Falling Wedge Breakout in play
Entry at current price (Aggressive)
Wait for HL formation/Retest of trendline (Conservative Entry)
Dow Bullish trend in continuation
Above 50 EMA
Strong Horizontal supports (Weekly) are specified; Watchout levels as S/R
Fib Levels are specified for TPs
Trade with proper stop loss
Ride the trend with trailing stop loss
Do proper risk management