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Horizontalsupoort

SQ - opportunity to accumulate!It is likely that this just just a steep correction (not a protracted bear market) hence we need to look beyond the fear for opportunities that do not come so often! SQ crashed 30% in just a little over 2 weeks. There is a strong support zone at 190-198, little would we expect that it will crash more than 10% today to test this zone before staging a strong rebound. This support zone is a confluence of horiztonal supports, a trendline support as well as the 62% fib retracement of the AB swing up. While it is already forming a bullish pin bar today, there is a chance the stock could retest the low near 190 over the next few days. As long as we do not breach 190, I would sit tight.. That said, pls trade carefully! Cut loss if trade did not work out so that we survive with enough cash for the next opportunity Disclaimer: 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. Thank you. Feel free to give me your thoughts ! :)
NYSE:SQLong
by Juliac
2
BBBY - found support (speculative!)BBBY crashed back to earth after the recent short squeeze that sent it from $25 to $53.90 in just 4 days. It now appears to have found support back at 25.00 (78.6 % fib retracement support as well as a rather significant horizontal support). Coupled with bullish divergence now forming between price and RSI, it looks like a "safe" zone to test water again with an initial stop placed several ticks below yesterday's low @ 24.59. Warning! This is a speculative stock (think "wallstreet bets" & potential "epic short squeeze #2" lol). Do make sure to have a stop loss in place and trail your stops up diligently should the trade work out. Disclaimer: 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. Thank you. Feel free to give me your thoughts ! :)
NASDAQ:BBBYLong
by Juliac
2
GME - 2nd chance to stake Since GEM has broken out from a base formation @ 6.62, it began a strong move cummulating to short term peak last Friday before falling sharply as naysayers doubts began to kick in. However technically this chart pattern has room to go..! Who would have thought there is still a chance to stake this guy after it shot up so quickly to 14.80 last Friday? It was a low risk opportunity to accumulate as it dipped close toward 11.15 (horizontal support there) or 11.32 (61% fib retracement of the recent swing up) this morning! Disclaimer: 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. Thank you.
NYSE:GMELong
by Juliac
LMND - finding support soon?Lemonade has retraced from a recent high of 188 to 138.80 today. It is now close to a strong support @ 137 (confluence of a horizontal resistence turned support as well as the 61.8% fib retracement level). There is also a potential bullish divergence between price and RSI. Dipping my toes in @ 138-140 with initial stop loss just below 134. For those who prefer to wait for more confirmation, wait for firmer reversal signs, eg harami or piercing candlesticks etc on the daily chart (ideally should happen without breaching the support @ 137), or wait to see a rebound above 145 before entry. Target wise, I am looking at a retest of the recent high at 1.88 or trail stops up with room for some volatility. Disclaimer: 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. Thank you. Feel free to give me your thoughts ! :)
NYSE:LMNDLong
by Juliac
2
📖 How to trade horizontal levelsHello! If you like this analysis, please make sure to like the post! Today we are going to focus on horizontal levels (HL). ➖HLs and other instruments are based on MA, they are used only for determining support and resistance levelling. They are plotted depending on where the price movement stopped, where the price made its important high/low/close. Higher timeframes are used to find horizontal levels and lower timeframes are used for more accurate measurements. Monitoring the weekly level of graphs throughout a working out day, 3D or 4H is called “synchronization”. 🧐You should determine the horizontal level using at least two points, since the consistency and reaction of the price should be checked. You should note that the usual “the more price rebounds from the level, the stronger it is” rule is not working in this case. Actually it works in the opposite way, as the number of attempts increases the higher the probability of breaking the level. 💡 For example, now it is very important for bitcoin to have a level of $10,000, which was formed in May 2018. It held the price several times throughout several months, but in the end it was broken upwards. Now it is the most powerful psychological support for most of the traders. ❗️ There is another advantage of horizontal levels — the longer the level holds the price, after breaking it, it will work in the opposite direction either as support or resistance. 👉HLs are important psychological markers to which price is returning to for testing. While reaching the level, the price movement may slow down, as many traders are fixing their positions close to it. 👉In general, there are a few HL trading strategies. You should always remember that a strong tool such as TA is just a guideline. You have to see the correct price reaction, and simply buying or selling depending on the level without any confirmations — is just a lottery. 📌By saying the correct reaction, we mean that there is a trade above or below the level, as well as strong candlestick patterns. By the way, a combination of HL and trend. Lines can form patterns, like triangles...
COINBASE:BTCUSDEducation
by I.T.Analytics
5
EUR/USD The Buy Area You've Been Waiting For.Wow. What an opportunity here on EUR/USD based on technical analysis. The price has hit this horizontal resistance before. I put the behaviour of that area and overlayed it with the current price (slightly squeezed to make it fit). We can see a very similar pattern, and that's something that we can monetize using technical analysis. Place your stop loss not under the current support, but under the level 2 support. We don't know if the price will fall further, but the second level of support is much stronger than the first one. This gives us some slack and room for error. Exit the trade underneath the horizontal resistance for maximum profit compared to risk taken. If you would place it above, you would risk the price not being hit and rejected by the zone. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Long
by Trading-Guru
5
Are trendlines mostly a creative waste of time ... or useful?Here's my trading opinion du jour: Trendlines tend to break and when they do, they get ever so conveniently re-drawn by the chartist. Hey if they don't put the Art in chart then who does? I've learned a lot this past year, re: trendlines. Basically, they're a massive waste of your time. Just like most patterns. Not that they don't exist. Just that you can create them any way and anywhere you want, practically. Which kind of makes most of them have little to no insightful value about where price action may or may not go. And the trendlines and patterns that seem to really actually possibly matter, generally seem to line up with the big Fib and/or S&R lines. Especially when it comes to trading bitcornz and other cryptocurrencies. In other words, trendlines and patterns are probably best suited ... for memes and other humor and cultural color commentary. What seems to work, is the "boring", tried and true method of trading according to simple support & resistance levels, powered by various critical indicators that generally every trader should know if they've studied and learned any good technical analysis course. Happy Trading!
BYBIT:BTCUSD.P
by stepstones
BTCUSD back to 8K. Crypto twitter shitty pantsHappy to see typo here, guys and gerlz! While crypto twitter is shitting thy pants all over the place yelling about how ugly the weekly bar is before it has even completed... I have been patient and sticking to my plan! The price revisited neckline and found support at 7700-7900 zone (I marked 7600 previously). Daily close above 8050 will provide a strong bullish engulfing that will reinforce my #long #bullish scenario Targets remain the same: "If H&S works out this supposedly will send price to 9Keks where there is also a thick OB." Mid-term levels: Support: 7700-7900 Resistance: 8700-9140 Please please please!!! DO NOT forget to comment and like my analysis, agree or disagree, regard to disregard! Action is better than no action! Appreciate it!
BYBIT:BTCUSD.PLong
by rfelchuk
1