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$PRA can fall in the next daysContextual immersion trading strategy idea. ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The share price fell after bad earnings. Looks like it will continue falling. The demand for shares of the company still looks lower than the supply. This and other conditions can cause a fall in the share price in the next days. So I opened a short position from $15,91; stop-loss — $18,00. Information about take-profits will be later. Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision. Always do your own analysis before making deals. When you use any materials, do not rely on blind trust. You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy. If you like my content, you can subscribe to the news and receive my fresh ideas. Thanks for being with me!
NYSE:PRAShort
by KozakHlib
2
Dow Jones.Alright for all these people who have no idea what actually happens right now. We are at the beginning of the biggest recession we've ever seen. We have roughly lost 55% on the DJ after the housing bubble popped. So my estimation with about a 50% decline in DJ doesn't seem far stretched off right?! We even have a big support line there?! Coincidence? I don't think so. So my target for a healthy correction would be about 15k DJ If you draw a fiblevel from 2009 low to 2020 high. You can even see 0.618 around that target. Then again we have many factors to take in. Will covid-19 magical disappear or will it mutate and get even more dangerous. I'm no doctor, but if we need at least a year to finde a vaccine I could see us drop even more crazier. Perhaps to 2nd support level. Until then with best regards Health is more important than wealth (I prefer to make videos so I don't forget everything I have in my mind. I edited this text like 5 times after release. Gonna stick to videos for the future)
TVC:DJIShort
by Juba1337
BAC AnalysisI expect chart patterns in the current market to be statistically less reliable than in a calm market. For that reason, any trading decisions made solely based on support-resistance, harmonics, Elliot waves, and other technical strategies are relatively useless for traders who operate on holding periods between 1 day and 1 week. The mood changes with each day's news, and it is obvious from looking at the chart since the initial crash that the market is less fearful, but very cautious. Be mindful of the current situation. Those who are polluting the internet with their extreme theories of market direction are to be ignored. The SP500 is not going to zero. It is also not going to make the full V-shaped recovery as quickly as it crashed. We have a long road ahead before any certainty can be derived, and so I am planning my trades with that long road in mind. In this moment, I am looking for stocks that have overreacted along with the rest of the market, but have yet to really feel the effects that the current state of the world will bring. I think that the financial sector fits that mold, so I am mostly trading banks at the moment. The large banks have been piling on reserves for loan losses, indicated by their collective, extremely low EPS for 1Q20. JPM, BAC, WFC, and others are preparing for the inevitable results of the record-shattering unemployment claims due to COVID-19. Banks will most certainly feel a lot of heat in the coming months. I think that they will have between 6 and 12 months of hardship after the COVID situation is managed or eliminated. Therefore, while bank stocks are in a sort of price consolidation on the charts, their recovery may not yet be upon us. All this is to say that I expect a move toward the YTD low if we don't experience a breakthrough in virus treatment, testing, or immunity in the next few weeks. University seniors will be graduating in the next couple of weeks, entering a job market that is, at the moment, several times worse than what the graduates in 08-09 dealt with. Student debt will continue to pressure many of them, Trump will almost certainly have a second term, the Fed is holding up the market with an unprecedented cost to the public, interest rates will be at virtually zero for at least a year into the future, and an already-struggling retail industry is being crushed. These are just a few of the factors that I think put a lot of downward pressure on bank stocks. Looking at the chart, BAC is trying to make a decision near the bottom of its channel again, and I don't think it will make a decision before market close today. Monday it could open higher with a bounce off the channel, but that will not signal anything about how it will move through the summer. It seems to be running out of steam on its hard climb up, and I expect that it will move to flatten through this month. If the market's uncertainty causes the stock to move laterally for an extended period of time, it will present opportunities for traders to capture short-term swings. The only thing that can send it higher is control over the virus situation, but I still believe the stock would be defeated at the heavily resistant area from $26 to $29, and that will be the story of it for the rest of the year.
NYSE:BAC
by HSCM
Bitcoin UPDATE - Take Profit Hit - What next? (Banks, ...)Hello Traders! Cheers Guys we hit our Take Profit on Bitcoin. It is the weekly Supply Zone. What next: Now we should definitely wait for the weekly close. Also we need to watch the lower timeframes. We need to see how the market will react on this weekly Supply Zone. Why should I care about Supply and Demand Zone? On this zones banks and financial institution will jump into the market. The previous down move was caused by them. Therefore there is the possibility that they have orders left at the Supply Zone. We should try to swing with them again to to the downside. The Take Profit should be the weekly Demand Zone. Check out my previous Bitcoin Analysis and Cheers my friends. The analysis went right. Updates will come soon. That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions. Thank you and we will see next time - Darius.
BITMEX:BTCUSD.PShort
by DariusFxTrading
Must go down to go upWe are still in an uptrend after that small breakout from the diamond top. The 4hr chart clearly show's we're still in the process of completing the ascending/rising wedge, a bearish chart pattern that breaks DOWN 68% of the time. We should get another move up for another test of the upper trendline, or 1:1 Gann Fan (highlighted in GREEN). It makes sense to go back up to this area, otherwise it will leave a CME gap that WILL eventually get filled. Going to wait for a break out above or below the upper/lower trend lines before making a move. Hope you're all having a great weekend! If you agree, please give me a THUMBS UP and/or a comment :) If you disagree -state your case below and let's put our brains together on this!
BITSTAMP:BTCUSD
by BitCapJNY
Future of Financial Instruments and CryptocurrenciesIn the article from Sep 28, 2016 , I talked about the fact that over the next 5 years there will be a financial crisis, but how events will unfold for the existing global financial system is difficult to say but we will try to analyze and draw conclusions. We see that in 2013 a new financial bubble in the economy was launched, it is based on completely new instrument and technologies. This is no longer real estate, not precious metals, not stocks, not oil. This is a new period in the global economy. The international system is undergoing a paradigm shift in determining the value of money. A completely new type of financial instrument is developing in the global economy; it is a Cryptocurrency based on Blockchain technology. This is a currency endowed with value, based only on the number of people who agree to use it as a payment instrument without the participation of intermediaries in the form of banks. In this financial system, the emission of cryptocurrency does not depend on the activities of the Central Banks, but on the activities of the users themselves. By connecting your processor to a collaborative network, performing certain calculations for the needs of the system, you are rewarded by receiving cryptocurrencies into your account/wallet. Imagine that soon a wealth of all nations will be determined not by gold and foreign exchange reserves, not by a wealth of minerals, but by an amount of computing power of computers in a given state and the people involved in the system. We can see it happening right now. In the coming years, we will see cryptocurrencies of large companies (Google, Apple etc.). Telegram (TON) is already at the final stage, Facebook (Libra) is in the process of developing its cryptocurrency. The immediate benefit is clear because all of them immediately have a huge number of users for their cryptocurrencies. The need for stocks as an instrument of the old financial system will disappear since cryptocurrency is both a means of payment (money) and a means of investment (stock) - Security Tokens. What is the significance of cryptocurrencies and the system of involving people in the general calculations of the new global network (Blockchain)? When cryptocurrencies absorb a large part of the money supply in the form of investments, payments, purchases, loans, the need for “fiat” money (dollars, euros, etc.) will disappear. This will entail a collapse of a classical banking system and its replacement to a new one. This incident will have adverse consequences for all countries. As is usually the case, the value of all instruments, including the cryptocurrencies themselves (for a short time) will collapse. In the future, money and financial instruments based on blockchain technologies will recover so much faster than classic currencies. It will be possible to wait out this strong crisis and reboot the financial system in gold and especially in silver in the form of ingots, which will grow XX of times for a short time. This scenario will be implemented until 2025 . Those countries who will understand the prospect of replacing fiat money with cryptocurrency the quickest way will become the new world leaders (e.g. China). In the meantime, you can simply follow or participate in the creation of a new global financial system. Today we add to our portolio BTC Best regards EXCAVO
BITSTAMP:BTCUSDLong
by EXCAVO
110
XLF Strong compared to other sectorsTicker: $XLF Huge gap up open and bulls ran with it. The only reason why SPY was so strong is because of the financial sector. XLF closed above the All time high (30.33)! We need more bull volume to confirm it is a clear break or else I would still consider it a double top with 30.33 if we reject. If we consolidate pre market and bulls open with fire, that would be ideal for bulls. If we consolidate hard, expect a 4 hour high low to form because retesting the All time high of 30.46.
AMEX:XLF
by DerekTradeEZ