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Falsebreakout

It almost hit our target today! What's next for us here?TSLA is doing very well, as it did trigger the buy sign we’ve been talking about, and it is flying right now. All the points we talked about in our last analysis are working pretty well. It did a false breakout from the bearish pivot point in the 30min, and it did a hammer that closed above the 20ma, a buy sign for sure. But a correction to the 596 is expected, and TSLA was pretty overbought today. Anyway, TSLA just broke a pivot point, and the trend is now bullish. We have a better view about the importance of the 596 in the 4h chart. Tesla might seek it again, but since it just broke the pivot point in the 30min, this could reverse the trend in the 4h chart as well. Anyway, TSLA almost hit our target at 626, but I think it’ll still hit there, let’s just give it more time. If TSLA breaks the 626, the 683 is the second target. If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
NASDAQ:TSLALong
by UnknownUnicorn21312077
NIO: We must watch this Pivot Point!Hello traders and investors! Let’s see how NIO is doing today! First, in the 1h chart, we see that NIO defeated the bear trend, when it broke the purple trendline , and it is not doing lower highs/lows anymore. But there’s no bull trend yet , and it seems we only have a congestion in the short-term, as the 21 ema is flat. The $ 32.58 is a support level, and it must react quickly in order to make a new bullish movement. In the daily chart, we are in the lower part of a congestion , and NIO did a false breakout from the $ 31.92 last week. Again, if NIO doesn’t react quickly, it might retest the light green line area once more , and even trade slightly below it. In order to fly again, NIO must defeat the $ 34.78, as this is a pivot point for us, and would lead the price back up to the $ 43.13. Let’s watch NIO carefully in the next few days. And if you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if it helped you! Thank you very much!
NYSE:NIO
by Nathan_The_Finance_Hydra
2
Seeking the $39!NIO was already oversold, but we didn't have any buy sign until now. Now we have some nice confirmation, and NIO is doing a good movement. It briefly lost the 34, but the buy force was incredible! Now NIO is trading inside a range in the 30min chart, but the 4h chart looks good: NIO did a false breakout from the 34, the most important point we were watching since yesterday, and it was close to the lower band at the same time. In addition to today's movement, the 61.8% retracement at 39 is a good target to aim next. There's a little gap above the 39, which could be filled too. But watch out for the 32.25, as NIO must not lose this point, ok? If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
NYSE:NIOLong
by UnknownUnicorn21312077
2
Understanding the NFP EU PumpHere are some questions I put out to my community group the other day followed by the answers. The reasoning being the move has been annotated on the chart. Why did price slowly decline prior to NFP? - Price had to decline slightly before NFP to mitigate the impulsive move created earlier in the day. - Price had to stop out break and re-test buyers with a tight stop loss - Price had to lure sellers into the market before NFP Why did price reject the exact box marked before skyrocketing? - Price skyrocketed because it had gathered enough liquidity from stopping out the buyers. - It utilised the previous order block to skyrocket to take out the impulsive sellers before NFP.
Education
by AlkalineFX
EURUSD | Perspective for the new week | Follow-upWe have been on standby since my last publication on this pair as it took price over two weeks to come to our proposed Supply zone (see link below for reference purposes). The last few days of last week trading session witnessed a strong Bearish pressure mounts as the price rejects the $1.21500 area which is represented on the chart with a bearish engulfing candle. A plunge on Friday saw the Greenback strengthened amid a dismal market’s mood which could be related to end of the month profit-taking by participants who took advantage of the Bull that began the month of April 2020. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Reversal pattern | Channel Observation: i. It is completely obvious that price is within a pattern formed from two downward trendlines drawn above and below price action represented by resistance and support levels since December 2020. ii. The Demand level which held price "supported" @ $1.20000 in the 3 months was finally broken (March 2021) giving way for Sellers to push price below thereby respecting the Descending Channel. iii. A breakout of the Channel that occurred on the 20th of April 2020 is yet to be confirmed successful or not as a rejection/breakdown of my Key level in the coming week shall help me make a decision. iv. The Channel Breakout shall be regarded false if the price closes below Key level hereby confirming an opportunity to sell the Euro in the coming week(s)... Trade consciously! Trading plan: SELL confirmation with a minimum potential profit of 350 pips. Risk/Reward : 1:4.5 Potential Duration: 10 to 20days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
PLTR: Targets to work with for the short/mid-term!Hello traders and investors! Let’s see how PLTR is doing today! In our last study, PLTR was looking great, but the Gift pattern didn’t work this time, and now it is just heading to the next support levels. Now, we have a short-term bear trend in the 1h chart, and no reaction sign ahead. The only way PLTR could reverse this bearish sentiment would be if it does a bullish structure, like a bullish chart pattern, or triggers a pivot point. The $ 22.06 is a nice support level, and if PLTR closes above it tomorrow, the market may see a false breakout form a support level, but it seems this is not going to happen, and PLTR will seek the next support at $ 21.07. Now, let’s see if the daily chart offers more clues: The interesting thing here is that PLTR is dropping in the past few days, but the volume has been decreasing too. This shows exhaustion form the bears, and any bullish reaction will be more than enough to reverse this trend. The $ 24.45 is a resistance to be defeated in order for it to seek the gap at $ 31.34. In the worst-case scenario PLTR will seek the support at the red line again. Remember to follow me to keep updated about my daily studies, and if you liked this idea, please, support it! Thank you very much!
P
by Nathan_The_Finance_Hydra
7
SNDL: Each analysis, we hit a target! Let's see what's next.Hello traders and investors! Ok, so, our analyses on SNDL have been quite precise, as it nailed another target that we talked about in my last analysis. In fact, SNDL did hit all our targets with an astonishing precision. Let’s see if we can understand what’s going on again. And of course, my last analyses on SNDL were public, and you may just check the links below for more details, if you are curious. In the 1h chart we have what seems to be a False Breakout from the resistance at $ 1.64, as the price went above it, but couldn’t keep up and close above the black line. Now the odds are that SNDL will seek one of its supports, and a good candidate is the area between the 21 ema and the $ 1.47 (red line, previous top). Now, the daily chart: The thing is, we have earnings soon, and this surely will bring some volatility and could ruin the short-term reading of the charts. But this doesn’t change the bullish bias seen here, as we have higher highs/lows in the 1h chart, and it is above the 21 ema in the daily chart, and the volume increased yesterday. This means that pullbacks are opportunities to buy. Let’s see how SNDL will behave in the next few days. Remember to follow me to keep updated about SNDL and other stocks I analyze every day. And if this idea helped, please, support it with your like! Thank you very much.
NASDAQ:SNDL
by Nathan_The_Finance_Hydra
24
Clover Health Will Show A Technical Growth In Channel To $9.92After a false breakout due to a correction in the broader market, $CLOV has re-entered the falling channel it has broken out of and closed within it. From this area, I expect growth towards the resistance zone around $9.92 to $10.00. However, do note that this zone of resistance that we are heading for is a very strong area of resistance. In this area, we see an intersection of: 1. Dynamic resistance created by the upper parallel line of the falling channel 2. Fibonacci resistance and Horizontal resistance 3. Former $10 SPAC price floor which acts as a very strong psychological resistance Regardless, I expect a move towards it first. Would have to see how the market reacts to this level first before deciding on our next course of action. This is not an investment or trading advice so please do your own due diligence! Support this idea with likes and share your thoughts below.
NASDAQ:CLOVLong
by AntrePoint
1
Gold setting up a trap move? $1715 and $1725 are key to watch.I am a trap move and liquidity trader, I look for them all day every day, so I don't expect this idea to align with the majority BUT Gold still looks a little sketchy to me. Based upon my rules, those weekly lows will/should get breached, whether it's this week or next week, next year I don't know. But there is liquidity sitting around $1660. What I like is the fact the weekly is still bearish, and we have a very obvious W pattern forming, this could be potential bait to get people long, and now they would be placing more SL's just below $1680...where all the other weekly liquidity is currently at. The banks could be setting people up. Gold could very well just smash $1725 and make a beautiful run, but based on my rules, I am thinking twice about long right now, another bullish day then I'd probably switch to long bias. But right now we just cleared two prior daily highs at the NY open, plus the stimulus news confirmation should be coming out today. If the price remains under $1725 and then closes below $1715...we are most likely going to get a steep drop hunt. Just simply observing XAU right now. Let's Elevate, Gio
OANDA:XAUUSD
by elevatedinvestor
4
AAPL: Key Points that we must keep in mind!Hello traders and investors! Let’s talk about AAPL today! First, it hit the bottom level of the Descending Channel we talked about in my last analysis. The sentiment is still bearish, and it lost the red line at $ 120.45 as well. But there’s a light at the end of the tunnel. Right now, AAPL is reacting very well, and if it closes above the red line, the market may see this movement as a false breakout from a support level. This is better seen in the daily chart: Yes, we had a H&S chart pattern , and the target was already hit, at the previous support level, which is the same $ 120.45 (black line). Yesterday, AAPL closed under this support level, but if it closes above it today, then we’ll see a false breakout, and this could be very frustrating for the bears. The investors may be attracted by AAPL, as the R/R ratio is very good near this support level. But the bias is still a little bearish, so, let’s be careful and wait for more confirmation. Remember to follow me to keep in touch with my daily analyses and updates, and if this idea helped, please, support it! Thank you very much.
NASDAQ:AAPL
by Nathan_The_Finance_Hydra
2
PLTR: Light in the end of the tunnel?Hello traders and investors! Let’s talk about PLTR today! Let’s begin with the daily chart, then we talk about the weekly chart. First, the problem with PLTR is that it is losing its support level at $ 22.50. This would be dangerous, as PLTR has no other clear support levels below this point (maybe the $ 17, but I’m not sure). On the other hand, now would be the perfect time for a reaction. If we see a bullish sign on Monday, or a strong reaction today, the market may see a false breakout from this support level, and this could be a buy opportunity. Movements like this are buy opportunities because the Risk/Reward ratio is very attractive, and investors like good R/R ratio. But we must see a good reaction quickly, otherwise, the bear trend will persist. Now, the weekly chart: PLTR is not only near a support level in the daily chart. In the weekly chart, the stock just dropped to hit its 21 ema (it is a brand-new 21 ema, yes, because PLTR is a quite new stock as well, but we can’t deny we have one 21 ema now). We have 2 support levels in different time frames, and this is why I see this moment as a good opportunity for a reaction. It is not a buy, but it is not a sell either. We must patiently wait for more signs on PLTR. Given the high volume during the recent sell-off, we can assume that PLTR will not react and fly again. Scenarios like this are very unlikely after a sell-off with high volume. The volume must decrease first, and the stock must do some accumulation patterns before it can fly again, in my opinion. Let’s follow PLTR closely from now on, and if you want to keep in touch with my daily studies, remember to follow me . And if you’ve made this far, it means you found this analysis good in some way. If that’s the case, please, support it! Thank you very much, have a nice weekend.
P
by Nathan_The_Finance_Hydra
13