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Nasdaq - Sharp drop in momentumNasdaq's unexpected drop in Momentum suggests further choppiness ahead and sharp moves in either direction should be met with skepticism. If this wave count is correct, we're in a double 4 which corroborates the aforementioned forecast for price action. Sharp movements to the upside should find strong resistance at the Fibonacci extensions whilst downside movements should find support around the GAP level indicated. For the meantime I think the short MA will offer substantial resistance whilst the intermediate MA plays catchup.
TVC:NDQ
by csmottola71
TSLA: What is the worst-case scenario in the short-term?Hello traders and investors! Let’s see how Tesla is doing today! First, in the 1h chart, it is behaving as we thought it would in our last study. The support level around the $ 708 worked until a certain point , but now Tesla lost it. So, what’s next for it? It seems the $ 693 is another support level to work with, and if lost, hardly Tesla would hold itself before the $ 667 - $ 668 area. If the Nasdaq Index corrects a little bit more in the daily chart, then this scenario would be easily materialized. However, if the $ 693 holds the price, we might see something good in the next few days. Let’s see the daily chart for a better perspective: The trend is clearly bullish, as we have higher highs/lows , and the situation favors the bulls. Tesla is in a buy zone right now, as it is near some support levels, but we have yet to see a bullish reaction to confirm our thoughts, along with an increase in volume . In the worst-case scenario, Tesla would hit the $ 667. Then we’ll need to see if it’ll react or not. Since we are in a bull trend, the odds are that Tesla will do a bullish reaction. Even in the worst-case scenario, Tesla would remain bullish , and it could offer a brilliant buy opportunity. But regardless of how Tesla will behave from now on, the $ 821 is the next target to work with in the mid-term. If you liked this analysis, remember to follow me to keep in touch with my daily studies, and please, support this idea if it helped! Thank you very much.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
16
AMC: Another target hit! What's next?Hello traders and investors! Let’s see how AMC is doing today. In our last study, we discussed the Triangle pattern, along with the targets and strategies to use here, and AMC did exactly what it was supposed to do. If you missed our previous study, the link is below. First, in the 1h chart we had an upwards breakout from the Triangle and it hit the next target at the green line ($ 11.52), and it even defeated it, as we discussed in our last study. Now, the green line is supposed to work as a support in the short-term, following the Principle of Polarity . If the green line doesn’t hold the price in the short-term, then the 21 ema might do the work. I’m not considering that AMC will crash again because we are in a short-term bull trend , and we have higher highs/lows in the 1h chart. In this scenario, pullbacks are just opportunities to buy. What’s more, it is important to notice that AMC did a breakout from the Triangle by doing a gap, which in turn becomes a Breakaway Gap . The daily chart will offer us more clues: The stock is breaking the green line, which is good, and it seems the volume is finally starting to increase as well. This can create a new bullish leg, and the next target is the blue line at $ 14.54. The support levels mentioned in the 1h chart are more than enough to hold the price in the short-term, but in the worst-case scenario, AMC would drop to its 21 ema in the daily chart, which is almost the same point the Breakaway Gap in the 1h chart is. If AMC drops, even the worst-case scenario wouldn’t be too much of a problem, as the bias would still be slightly bullish. But in order to make it fly again, AMC must hold itself above the green line. And if you liked this analysis, remember to follow me to keep updated about our daily studies, and please, support this idea if it helped ! Thank you very much!
NYSE:AMC
by Nathan_The_Finance_Hydra
4
Looking for 3930You can see that ES has broken down from up wedge and I got a really good entry. I love a perfect entry, making you feel good from the start. Exit though is harder. Once entered it is difficult to get exit. You want to hold on as long for possible and get most out of this as you can. Generally the longer you stay in the better (timeframe dependent) but alway exit early if things don’t go your way. There is very little support until about 3930 (at least price action wise) MACD strong negative divergence Gap down below to fill. This might be a good place for a second entry if it finds resistance here. Stay tuned! Love all you PuckBunny fans 💜
CME_MINI:ES1!Short
by UnknownUnicorn11430563
4
Week 17: ZSK2021 No point of return sighted (yet)Last week right after the Asian market open, the weekend gap was filled, our $1440 Decision Point level was breached and it went up to the moon. There were no sign of weaknesses yet, bullish momentum was strong on each upward push. Today the market was opened with a gap up again and as I am writing this, there is no sign of reversal yet; therefore we stay put and see the price action in the next few candles. My new pivot line is at $1536. Let me know if you have other views or comments.
CBOT:ZSK2021
by machintose
3
BPTH Case StudyI remember seeing this move live in real-time when it happened. It was amazing! Thought of doing a study case of this pattern. The chart is self-explanatory. First, you wait for the first part of the pattern to happen ----> Huge gains + Huge Volume Second, you watch it does the first pullback, and keep an eye on the HIGH. Third, when the stock is making a new high, you enter with momentum, risking to the previous low. The previous low is almost 50% away but it is fine, it is safer this way, being conservative protects you in the long run, putting 1 unit of risk on this trade. Either to take profit on the way up somewhere when the profit seems substantial, or according to the gap theory, or take profit when touching the EMA, or when you see the move is drying up. You can see that the move is drying up when there is no substantial volume on the rallies + the rallies don't follow through. Note to self: I noticed that when there is a downtrend on drying volume, odds that the downtrend will continue ---->>> POTENTIAL SHORT SETUP *** Could possibly look at options if they are profitable or not for this trade.
B
by ZoharCho
1
TSLA: Next targets and some scenarios to work with!Hello traders and investors! Let’s talk about Tesla today! It’s been a week since our last study, so we have a lot to update! The link to my previous analysis is below this post, as usual. First, in the 1h chart, Tesla filled an open Gap around the $ 777 and now it is dropping again. We have a short-term bear trend, as since the $ 777 Tesla has been doing lower highs/lows, and maybe we have a Descending Channel (purple lines). But it seems the $ 708 is the most important support level for the short-term. We also have a pivot point at $ 737, and if Tesla holds itself around the $ 708, and breaks the $ 737 it would be a great sign. Now, let’s see the daily chart for more clues: Yes, the support at $ 708 is visible from the daily chart too, and what’s more, it is quite close to the 21 ema as well, making it a Dual-Support level. Yesterday’s reaction was nice, and today’s drop shouldn’t be something scary, as TSLA might be just doing a pullback in the 1h chart before it triggers the pivot we mentioned. But if Tesla loses the Dual-Support zone, then the next target will be the red line at $ 667 , which is the next support level to work with. But Tesla is still bullish, and even if it drops to the $ 667, it is not going to ruin the bullish configuration, it will only delay the next bullish leg, and offer another opportunity to buy or increase your position, at a cheaper price. Let’s monitor Tesla closely and remember to follow me to keep updated about my daily studies, and please, support this idea if you liked it! Thank you very much!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
12
Gap TheoryThe gap theory is short and simple. Not everything needs to be lengthy and laborious. "Everything should be simple as possible, but not any simpler" Break-Away Gap Once a new cycle has begun and you see a breakaway gap in the STARTING of a move, you get confirmation of this new cycle. HOLD. Run-Away Gap Once the trend is continuing for some time and then you see a second gap, this is a confirmation that you are somewhere in the MIDDLE of the move, so you know a further movement in price is expected. HOLD. There is a possibility that you can get multiple runaway gaps. Exhaustion Gap After a move in price had already happened, a gap that signals the END of the move happens. If this is your 3rd gap on the, you should look very closely to distinguish if it is a runaway gap or exhaustion gap. SELL. How do you tell the difference between the exhaustion gap and the runaway gap? Easy, if after the gap happens the price shoot straight up without closing the gap in the next few days ---> runaway gap. HOLD. if after the gap happens the price is closing the gap in the next few days ---> exhaustion gap. SELL. If you like it, follow and like so it will be saved in your saved ideas for future reference.
AMEX:MJEducation
by ZoharCho
5
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
PLTR: Teaching Technical Analysis to us!Hello traders and investors! Let’s see how PLTR is doing today! First, as we discussed in our last study, PLTR found a support level at $ 22.84, it reacted very well, a nd it broke the green line at $ 24.45 . This is a great sign, and likely PLTR will seek higher levels now. To check our last study, the link to it is below this analysis. Yesterday’s movement was important because PLTR is now free from the previous congestion , and what’s more, it seems the $ 24.45 is going to work as a support next, following the Principle of Polarity . Now, let’s see the daily chart: In the daily chart, we see a nice Ignition Bar yesterday, breaking the 21 ema along with the $ 24.45, and a nice increase of the volume . All of this, in addition to the bullish signs seen in the 1h chart, tells me that PLTR is going to fill the gap (yellow area) at $ 31.34. The only problem is if it is worth an entry point, and if the R/R ratio makes sense. It seems we have a Gift pattern today, which is just a correction seen in smaller time frames, translating into a small black candlestick in the daily chart. This could offer an opportunity, indeed, but there’s a right way and a wrong way of trading Gifts, and we must wait until the end of the day for more definition. If this analysis helped you, remember to like it! And I invite you to follow me to keep in touch with my daily updates. Thank you very much!
P
by Nathan_The_Finance_Hydra
15
PLTR: How to proceed and what's next for it?Hello traders and investors! Let’s see how PLTR is doing, and if it has been moving according to the technique and to what we discussed last week! First, yes, as we already figured out, this is an annoying congestion , indeed, and the support level at the blue line ($ 22.84) has been holding the price quite well, at least until now. But that’s ok, as this congestion at least broke the bearish bias seen from March 15 – 30. We talked about all these points in previous analyses, which you may find the links below in this post, if you are curious. Now, if PLTR loses this blue line, then probably it’ll fill the gap (yellow area) and hit the $ 22.06, then we must wait to see how it’ll react there. Otherwise, if it defeats the green line at $ 24.45 again, then PLTR will probably reverse the trend to bullish in the daily chart: The green line is a pivot point , and PLTR would also break the 21 ema as well. There are good chances that it will hit the $ 22.06 again, but if it reacts and triggers this pivot point, then PLTR will have everything to fly again. The volume increased recently, which is something to notice. If we see a correction on the Nasdaq Index, hardly PLTR will fly right now, so, keep in mind that this stock might test our nerves in the next few days, before it can give us any interesting sign. Remember to follow me if you liked this analysis and to support this idea with your like ! Let’s follow PLTR closely from now on! Thank you very much. Have a great week!
P
by Nathan_The_Finance_Hydra
13