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SCHW Trade RecapEarlier this week, I took a trade on SCHW on the 30 minute chart. Found it had been rallying on higher time frames (HTF) from a pullback. I decided to scale down to a lower time frame chart to find an entry. Preferably a pull back. Decided to enter on a bull flag. The previous day had shown strong bullish buying pressure as indicated by the bullish candlesticks closing near their highs during the rally. The first flag that I entered on was a 2-legged pullback from the highs with a High 2 breakout. When the breakout bar closed on its high, indicating strength from the bulls, I took a long position. My exit strategy was to trail my Risk Units. (For example, when risking $100 on a trade, $100 is 1 Risk Unit (1R). Therefore for every $100 move in profit, or every 1R move, you'd move your stop loss up 1R behind it.) I bought more shares, equal to my first entry, on every bull flag that had occurred in the bullish trend. Therefore, I bought additional shares twice over the course of the trade. This increased my chances for earning bigger profits as long as it continued to go in my direction. I bought my first additional shares after my stop loss had already been moved to 1R. Effectively eliminating my risk. Since I bought the new shares around 2R, my 1R stop loss was now breakeven. Due to share price averaging. So I was at no risk of losing any money. As the trade continued to move in my favor, I continued to move my stop loss up, locking in profits. I bought my last shares near 3R after the final flag in the move. Again, for the same amount of shares I had bought in my original entry. My size was now 3x bigger than my original entry. After the trade had reached 4R, I moved my stop loss up to 3R and got stopped out there after the stock had came back down. Even though I got stopped out at 3R, I walked away with a 4R profit, due to buying additional shares on the way up and my risk never being greater than my original positions stop size due to my trailing stops.
NYSE:SCHWLong
by Trade_Soup
I was wrong but now what ?Btc has suprised me ive made many great prediction but this one i failed to be able to correcly predict . I'm still confused on why it happened in the first place but i think i'm confident enought to say what's next. Btc has done what's called a double bullish flag it's extremely common and most of the time bullish flag are in pair. But after that we can expect 2 thing . First it can crash right now like many other or it will go high to the last resistance and then crash to me i'm still extremly bearish 23k is still the goal !
BLong
by rynstick
8
Potential falling wedge breakout on AMCAMC is currently forming a falling wedge on the daily and weekly charts. With earnings coming next week, there could be a possible catalyst for a move to higher prices. As you can see, the wedge is coming to a close. Bulls may start buying if they see AMC as undervalued and bears could start covering their shorts since this would be a good place to take profits for them. After that, AMC will start feeding on itself and move higher. Could we possibly see a high 3 breakout? Probably something worth keeping an eye on over the next couple of weeks.
NYSE:AMCLong
by Trade_Soup
$PTON making bullish signsI missed this stock last year but I think is giving me a second chance with this setup. Bullish divergence with the MACD, while making a head & shoulders pattern; that's a clear reversal sign for me. The price is on the path to making a great breakout. Price above the 200 day MA and the neck line of the head & shoulders pattern. And, would also be a breakout above a flag pattern. Also NASDAQ:PTON is a clear leader of the Leisure-Service Industry, being rank 2nd by IBD; just behind NASDAQ:CAR , and has a 79 Relative Strength rating. But that's against the market, I plotted the quotient PTON/LIV to see the relative strength against its industry and is being rising since the stock bottomed on early May. AMEX:LIV is an ETF that has +4% allocation of NASDAQ:PTON . With a buy near $128 I would have a sell target on $154 for a +20%. But, if everythng goes well and that target is reached, I think I would let it run a little further to the resistance level on $168 with a stop on breakeven. I will be counting the up days against the down days to verify that trade.
NASDAQ:PTONLong
by dpuleo19
Price Action Analysis of AMD (1hr)AMD has provided us with amazing trading opportunities over the past several days. Largely in part due to it's breakout to ATH and surpassing $100 for the first time. This has been quite a large breakout, giving us a nice and tight bullish channel on the lower timeframes. Of course, this rally has to come to an end at some point to form a larger bull channel. Yet, based off this chart analysis, I do believe that AMD may make another leg upward tomorrow. This is only valid if it holds the channel line. It could just as easily break the trend and begin it's descent . AMD has given us flags that begin forming near the end of the day and continue forming in the post/premarket. Each time they move to higher highs the next day. We'll see if AMD can continue this trend for at least one more day.
NASDAQ:AMDLong
by Trade_Soup
AAPL thought progression.this is my idea of what is happening with apple. It's important to understand what my thoughts were leading up to current price in order to understand what potential biases I might have carried with me for too long, or ignored to detriment. But it's a nice bull flag pattern. This is my favorite pattern, and I am fully convinced traders could eat well trading this pattern alone, were they so disciplined. I would personally suggest looking for bull flags on the lower time frames. They appear more frequently, and you can often catch the beginning of an impulse.
NASDAQ:AAPLLong
by emehoke