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Gapfill

TSLA - stars are aligned for a sustainable reboundI guess we can say that Elon's offloading 10% of his shares was in great part responsible for TSLA's plunge of nearly 29% in the recent weeks and it doesn't help that US markets have also been correcting during this period. There are now a confluence of technical factors on Telsa' chart that gave conviction to Telsa's rebound yesterday: Telsa finally hit into a strong support zone around 890-900 on Monday before staging a rebound on Tuesday. I suspect the worst is over for now. How is this a strong support zone (890-900 region)? Due to a confluence of : 1. a horizontal "ressistence" turned support at 895 2. gap close at 900 3. 50% fibonacci retracement of the BC swing up 4. 100% of the AB retracement projected onto C Incidentally it appears that Elon is also about done offloading his 10% and the US indices also staged a rebound. With so much aligned, I guess Telsa is looking brighter again in the coming days. :) Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
NASDAQ:TSLALong
by Juliac
TSLA into Dec OPEX with 38% of gamma expiring FridayTesla $TSLA has 38.25% of gamma expiring this Friday Breach of 908/900 would fill gap lower to 895. Previous upside nine from Jan 885 could act as support. 875 is a previous upside nine on the daily from Oct 18, bottom of that range is 850/843 and lower Fib support is near 815. MACD / RSI currently over sold with ATR expanding after selling volume came in after recent ath print. It is worth noting that major players, institutions and commercial traders are avoiding the over head risk of Elon Musk selling shares. We would want to see bulls hold these support levels and then we could focus on upside resistance as key levels to break. Depending on repositioning in the market post Dec OPEX we could see the stock reverse or continue the price downgrade cycle. With interest rates expected to hike + EV names being generally expensive in the market, anything can happen. It is best to size light and play Tesla with profits, always expect 0 if trading weeklies and try to enter at key levels. Best of luck trading! When the stock doesn't hold the level containing the largest OI (1000 strike) You see dealers start to offload shares as the otm calls become less risk to them.
NASDAQ:TSLA
by Freshly_Snipes
1
AMC -- The Road Up Goes Down, Part 3So, where are we headed? Well, the descending wedge that has formed points to the 8.392 fib @ $13.74. However, I do not see us playing out the entire wedge. That gold box seems like a reasonable zone to aim at, and I wouldn't be surprised to see a touch of $16.95 to satisfy the gap that remains from the June run, but at a minimum the golden zone sits just above the tip of the descending wedge. I can imagine a scenario where such a move ignites volume, wakes up a latent demand zone which will look like a long wick on a daily candle when all is said and done.
NYSE:AMCLong
by squarerootof9
$UPST - Gap Fill SuccessfulOver the past couple of days, $UPST has regressed heavily and filled the gap it made back in August. With Fed meetings over, and the newly bullish momentum in the markets, this name is primed to make a hefty reversal. We have a small handful of resistances overhead, but I'm confident we'll be able to surpass them given enough bullish volume . If we run hot enough, we even have a huge gap to fill above 270! I'll be keeping a close eye on this one heading into the new year. ONG swingtrading swing support Supply Zone gap gapfill reversal bottom
NASDAQ:UPSTLong
by FluxTrades
$NZDUSD Can Finally Reverse And Rise For A CorrectionTraders, NZDUSD has been falling without any supports and has reached a level where it can finally stop, take a pause and reverse for an upward correction. At this level: 1. It has past structure 2. 78.6 Fib 3. Gap which has now been closed after a period of more than 1 year!! :) 4. Extended M pattern completion All these factors present us with a good opportunity for a long position. The trade idea is on daily time frame so it may be slow and can take days, possibly weeks. Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade set ups and the updates of this analysis ✅ Don't hesitate to share your ideas, comments, opinions and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
Long
by vikinsa
1
Anatomy of a Day Trade: Entrances and ExitsO FGS! Dammit! They gapped it up overnight, what should I do?!? Well what gap is this? Three weeks ago we had Initiation Gap: These often do not fill, don't short them! It's suicide, lol! This has hallmarks of an Exhaustion Gap; it will fill intra-day or within a few sessions at most... a great short opportunity! See my related post on gaps FYI. But, when should you enter?! If you foolishly short it at the open be prepared to wait for hours and watch your position dwindle... ow!! Should you buy calls at the open?! Maybe it will run higher?! Of course it CAN, but it can also run lower and gapfill quickly, within minutes. A long position taken first thing is high risk... as are early shorts! So, when can you enter a position with reasonable expectation of profit?! In fact, ANY position taken in the first 20 minutes of the trading day is very high risk, I do not like to open new positions right away! So, you Watch and Wait! Looking for opportunity... in the first hour price ran higher and calls had been profitable, but we didn't take a position with no signal, we like good Risk/Reward positions with clear signals, not gambling on the opening price. After what seems like an eternity, price begins to consolidate and gives us several warning signals, first a pinbar appears, with a needle doji and tall wick followed by a red candle, a bearish signal; two spinning tops follow, but price clings to the opening price support line tenaciously as the bulls struggle to push higher... finally the price breaks below the support from the opening gap. This was the price support that market enjoyed from the open, as buy order imbalance filled, RSI weakens and money flow decreases until... price breaks under the opening price, signaling downtrend moving towards the gap. Notice how RSI moves from overbought, signaling weakness? This is a short entry high R/R position. You can buy daily puts here with confidence they will increase in value rapidly and immediately. You do not want to get stuck holding these dreadful instruments more than half an hour, you can see the value drain out as expiration nears! Well we see the gap filled, not completely to yesterday's closing price, but it sold down to former resistance at the high prices from last session. This often is all you get on a fill, it won't always close precisely! Sometimes price will dip below the gap and go negative for a few minutes. When the gap fills, you close position, we can't afford to gamble on whether it's gonna get lower or not... Suddenly an impulsive bright green candle appears! Gosh I hope you sold those puts! Notice how RSI has moved nearly to oversold? It's gonna bounce!! NOW is the time we make the best money. This was the candle we saw on 7 October, pullback ran to 13 October; another one appeared on Fed day at 2PM, pullback was just minutes then it bulled up and up... these are the money makers! Learn to recognize this chart pattern and you WILL make money on option trades. You can take a moderate sized position here, I like to trade lots of ten, when I see this candle I'm gonna start with 20-40 calls depending on cost, and add more as price moves in favor. I do not like to add when price moves away! USUALLY Dollar-Cost Averaging in options just leads to magnified losses!! The more you take the greater the loss you might experience, remember when you enter an option trade you assume the total risk for premium paid, a sudden price change can wipe out your position before you can even set up the closing trade. So risk what you are willing to lose, and no more. After the first impulsive move, a retracement nearly always pulls price back to ~2/3 of the impulse height. Here you draw the fib extension to get your target price projection; Fib Extension tool has three buttons, first at bottom of green candle, second at top, and third at bottom of the retracement. Chart your fibo and target the 1.618 extension, this is where your calls will take you! They might take you farther, but that involves more hand-wringing, nail-biting and screen cursing while you wait and watch the time value run down! Do not hold these any longer than necessary! So there were TWO good R/R day trades in Friday's session on 11/5. A short, and the subsequent long. You could have taken other positions, but R/R would be poor, most 'trades' without signals are just gambling. Be a trader not a gambler! Most of the time you want to stay OUT of the market! Look, today's trades involved about two half-hours out of a 6.5 hour session! The rest was just noise and risk. Notably, in 'Power Hour' at EOD, there was not enough bullish energy to lift price back to HOTD... this is Bearish, in a long bull run Fridays typically close at HOTD and short-covering rallies into close are typical, we didn't get that today and daily calls ran down to expiration worthlessly. You might consider taking a longer-term short in weekly or monthly contracts, to catch a move MOnday if the price weakness persists and a gap down follows the exhaustion gap up... if you dare. Remember Buffet's rules of trading: 1) Never Lose Money. 2) Never break Rule 1. Hopefully this post will be of some value of increasing clarity in trading. When you're in the market watching the numbers flicker it is so easy to get lost and miss the forest for the trees... Get ready for some amazing trades as this parabola rolls over and the cascade ensues... always exciting!!
TVC:SPXEducation
by DaddySawbucks
7
$PYPL PayPal under heavy fire, where is the bottom??Paypal got destroyed over the last couple of months, after it made it's double top on July 26th. It has lost 35% of its value since then. Paypal gapped below the support at around 222ish$ today and that triggered even more selling, since that support held for almost a year now. The next area, where i see heavy support is at around 184-190$ I feel like that support must really hold, if we for example would gap below that support too and keep selling off, there is a gap that would be closed at 130$. Overall, the $PYPL chart really got some technical damage done to it, and it will need some hard work of the bulls to repair that damage. We ripped a big down gap today, so i expect somewhat of a recovery rallye, also to work off that oversold RSI, but i would not be surprised, if we see another leg down in the $PYPL chart afterwards, since there's alot of fear in this stock now, and holders might use a recovery rallye to rebalance $PYPL in their portfolios. Definetly not the stock, that would blindly go long on now, just because it got sold off, there's potentially a lot more selling to come in $PYPL
NASDAQ:PYPL
by 10xTrading