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Falsebreakout

ABT Long, add position to existing trading plan (05/15) Condition: 1. False breakout stopped most of the positions bought in the demand zone. 1.1 After big down move 1.2 consolidation in Demand Zone 1.3 Break through the Demand Zone 1.4 One bar down, next bar up, closed Higher than previous high. 1.5 Up bar closed Higher than Demand Zone; 2. Down Trend line break. 3. 60 min demand zone confirmed Entry: 90 Stop: 87.5 Target: 98; risk/reward=1:3 This is a trading school homework. I need few months to practice trading plan. If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate. From now on, if I got more confirmation, I will begin to add position to existing trading plan.
NYSE:ABTLong
by PlanTradePlanMM
Dow Jones - false breakout to start the selloff - Sell in May?30 Apr 2020 recap - yesterday Dow had an increase of supply together with bearish price action, with the close above the support level 24270. Yet the futures during the London session now has broken the support level and currently testing 23880 level. A break below swing high at 24270 presents a false breakout scenario. If 23880 was broken, we should see a correction to 22950. The next important support level is at 22500 if 22950 was not defended. Bias - down Key levels - 24270, 23880, 22950, 22500 Potential setup - a rejection from 23880 should present a good opportunity for a short entry, with the take profit targets at 22950.
DJ:DJIShort
by mingjong
S&P 500 plunges with a false breakout - daily market analysisS&P 500 futures ( CME_MINI:ES1! ) continued yesterday's selling and plunged more than 2% below 2850 as of the London session now. The price action today before the US session revealed a false breakout on S&P 500. 30 Apr 2020 recap - Yesterday session had seen an increase of supply in synchronization with the bearish price action dropping 1.3% off the top for S&P 500. The only relieve sign was the close was above support zone between 2880–2900. The first support level at 2850 was broken during the London session. Inability to rally up above 2850 would likely to see S&P 500 to test the swing low at 2715. The next level of support is at 2635 if level 2715 is broken. The key level is at 2850. A recovery above 2850 could hold on the long-waited correction. Bias - down Key levels - Resistance: 2850, 2880-2900, 2960 (swing high); Support: 2760, 2715 (swing low), 2635 (axis line) Potential setup - A rejection off 2850–2860 should present a good chance for a short entry, with the take profit targets at 2760, 2715.
CME_MINI:ES1!Short
by mingjong
2
Price Breaking resistance after days of consolidation,***** ^-^Stock price still in consolidation, Price crossed over the 50emv and should be consolidation in the current support and resistance. For confirm position the price should rally the current resistance, 50emv crossover 200emm all together with the price for a confirmation for the execution. mentioned false breakout due to the consolidation period but it may not end up a false break out, if the stock consolidated for a two weeks periods or so on and the price rallied up or down it will be a strong confirmation Further study to be done. Thank you Localogist
NYSE:PWR
by localogist