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Inside Bar

Watchlist 2023-01-25Market started with a rest day yesterday, faking everyone out left right and center. However, a late day squeeze flushed a good deal of shorts out so they could drop it in the PM, falling 1.23% at the time. Bias is short today. Looking for retests of key levels. Value area from prior day is 400 - indicated by the grey box and volume profile on the right. Retest level on SPY is 398. NVDA - Inside bar play today. Key level is 181.60, coincides with the insider bar downside level and a key prior pivot top. Two trades on this. Momentum scalp short on the open - looking for flags near key level. Then there is a retest short if the market provides it. However, since this appears to be the start of a new active sequence down, I would favor strong downside momentum and not expect strong pullbacks to reenter/add. W - clear rejection higher on wayfair. Gapping under the day 1 support. Gap fill short to 49 area. NEE - If nextEra Energy can show weakness at 80.32, next stop is 79.20. The risk reward on this is probably not favorable unless there is a shove off the open into resistance at 82. However, everyone for the last few months who bought is now under water. Capitulation type of trade is a possibility as we are down 2.5 ATRs in the PM.
NASDAQ:NVDAShort
by UnclePennybagss
EL - Strong Price ActionEL formed a bullish divergence on the monthly chart after capitulating on 3 Nov. It then began a "recovery" where there were several attempts to break a resistence zone (228 - 231.5), and finally breaking above on 18 Nov. Alas this proved to be a fake break as it went back below the neckline, eventually finding support only at the 61.8% fibonacci retracement of it's recent AB swing. The last 3 candles then showed a decisively bullish momentum in it's "recovery" : a huge bullish candle (30 Nov) on high volume that propelled it above the neckline again followed by small inside day near the previous candle high, and then another strong candle (last Friday) that did a quick retest and strong rebound from the neckline. Clearly it's momentum is bullish now although it could hit into short term resistence when reaches the 200 day moving average in the coming days. Trail stops up according to your trading pesonality (20 or 50day MA, last pivot low, fib retracement levels, trendline support etc). Disclaimer: Just my 2 cents and 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! Take care and Good Luck!
NYSE:ELLong
by Juliac
USDCAD LONGSOff the daily, its not a rejecting pb. Its in the middle and hence a reaching pb. The daily candle is bullish after London session. Makes sense to look for longs on ltf. On h4 , look left and a previous swing low was taken out. This shows a strong origin. On m15, a good number of previous lows have been taken out(More than 2). This indicates a strong origin. We notice bullish momentum to a point that has been touched previously taking out the pre existing orders as the market ranged around that area and we expect a RTO. The Buy order is executed with tp at 50% of the origin and sl at the previous lowest low of the current m15 market. An extra order is added on m1 time frame off an order block and the trade is pyramided for maximal returns. Now we wait to see the trades results. Our work is done as as retail trade analysts. Now we wait. See you on the next trade ideas ladies and gents. Share & follow if this was of value.
Long
by Abraham_Tradez
2
Can $ADM hold support and move higher from here?Notes: * Very strong up trend on all time frames * Good earnings in the recent quarters * Basing for the past ~6 months * Coming up on the right side of its base * Recently broke back above a key level around ~$87.2 and has been holding this level as support with higher than average volume * Printed an inside day with higher than average volume * Bouncing off of its 20EMA Technicals: Sector: Consumer Defensive - Farm Products Relative Strength vs. Sector: 2.78 Relative Strength vs. SP500: 1.55 U/D Ratio: 1.81 Base Depth: 37.27% Distance from breakout buy point: -10.61% Volume 22.31% above its 15 day avg. Trade Idea: * You can enter now as the price is bouncing off of its 20EMA and a key support level around $87.2 * If you want a better entry you can look to enter around $87.2 or if it pulls back closer to the 20EMA * This stock usually has local tops when the price closes around 12.92% above its 50 EMA * Consider selling into strength if the price closes 12.72% to 13.12% (or higher) above its 50 EMA * The last closing price is 4.89% away from its 50 EMA
NYSE:ADMLong
by HaseebKhan_90
Coal India In A Weekly Timeframe Coal India is looking bullish on chart for short term positional trade. The Mother Candle along with Inside Candle Concept is widely used by trader universally. This pattern is considered to be a high probable trade setup and is also one of my favorite trading setups for intraday / swing / positional. One can look for entry between 228-230 provided a daily candle closing above the mother candle. (candle closing above mother candle is a must) Will suggest a tight stop loss of 210 incase the setup fails. (Note: No setup is 100% probable, so managing risk & position sizing is a must) Disclaimer: Not an investment advice. Do your own analysis, research and manage position sizing according to your risk taking appetite.
NSE:COALINDIALong
by mrphil001