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Morning Star

AEO Long - Oversold and now has some momentumThis trade does have down potential as any trade does. AEO has just gotten past the horrible 4th quarter sales from last year, and consumer buying power has risen. I think the stock has over sold, and if you look at June 11th, that looks closely like a modified morning star (bullish). Now- the sad truth is that the very next day the stock went back down on June 12th, and this makes not a true morning star. On June 13 +14 stock prices rose up beyond the opening price of the 12th and I jumped in. Looking at a target between $18.50 and $20.00 as solid gains. Yes, that is a large area, but if you notice at around $19.75 is where the shake out really happens, making that a great short gains target and over $2 of profit. Stop /Loss has been placed at $16.59, the low of the price on June 12th to reduce any horrible loss, and roughly a $1 loss. Let me know what you think. I am not a financial advisor, I just like to share my thoughts and trades with the community.
NYSE:AEOLong
by jeffyanzo
forexTrdr GBPUSD - MORNING STAR & BULLISH HARAMI AHEAD OF GDP Morning traders, We have a British pound versus US dollar trade setup ahead of UK GDP at 9:30 (BST) where consensus is pointing to 1.8%. Should we see a beat then we would be looking for British pound to trade to mid 1.31 area before pulling back lower within the descending channel we have highlighted in our trading view chart. The GDP data lines up with positive signals on the technical front with the pair trading around support levels at 1.30. On the candle pattern front we have had a bullish harami and morning star pattern forming in the past couple of days pointing to a bullish move higher. Additionally we have added stochastic to the chart showing that we are turning up from oversold status. The caveat to this trade is should there be a very poor GDP number then its best to close out the trade early, we however are hopeful for a beat in line with what we have consistently seen with the UK data coming in higher than economists predict. Comments and feedback are always appreciated from anyone in the trading community Good luck trading from the Team at forexTrdr find us on instagram, twitter and Alexa flash briefings
Long
by forexTrdr
BITCOIN - "Morning Star" Made a Bullish Breakout!Around 10 days ago I mentioned that the BTC price will go into the $4,500. Today it is again on 'the table' and I will reveal those technical aspects why I think so! The recent consistency on the Weekly chart is pretty impressive, currently running the sixth week while we may get a green candle. Consistency means that the FOMO (fear of missing out) players might kick in at some point which will help to guide the price higher but okay, let the mid-term technical analysis speaks for itself. First of all, why I think that this scenario is again on the 'table' is the recent price action, actually, yesterday's candle close which was a bullish candlestick pattern Morning Star: Two bottoms (15. Dec 2018 and 7. Feb 2018) are formed with Morning Star candlestick patterns, yes, they are not textbook examples but you will understand what I mean. Secondly, this Morning Star candlestick pattern ends above the historically worked trendline (blue trendline), it ends up above the round number $4,000, and it got a close above the EMA100! Now let's count those criteria which will help to guide the price upwards to the blue box which is around $4,500! ABC Equal Waves Pullbacks and throwbacks consist usually with waves and currently, the ABC wave theory might guide us into the $4,500. So, the ABC perfect wave scenario is equal waves and currently, there are two ABC pullbacks showing that the price may find a next strong resistance just at the mentioned level. The bigger ABC Waves (dark red) The first wave starts from 2018 low and ends up 24. December (point A), a throwback (point B) and currently it is going from B into the C point which is around the $4,500 and the equal means that - from 2018 low to A point is $1,111 and from B to C is $1,111. The smaller ABC waves (yellowish) I started to count this pattern from 29. January and it shows also that the C point is again around the $4,500. So, those were the waves signs which will guide us into the higher levels and if it reaches there then it would be a perfect short area but that's not all... Fibonacci party As You see, then inside the blue box (the area where the price may reach and the area where all signs come together) are multiple lines which all matching with levels around $4,500 and from Fibonacci perspective is there two extension levels and one retracement level. Extension levels: 1. The bigger Fibonacci Extension level is pulled from the last years bottom at 15. December to 24. December high, from there we get Fib. Ext. level and the 127% (-27%) is around $4,500 ($4,539) 2. The second one is pulled from 29. January to 24. February and extension level 127% (-27%) is again around the 4.5k ($4,424) Retracement level: 1. This is more for the short trades but anyways, the retracement level is pulled from 7. November 2018 (just before the drop below the well-known 6k level) to 2018 low and the 38% retracement level is exactly inside the blue box ($4,432)! The parallel channel projection The major counter-trendline is pulled from the bottom (black trendline), copy/paste, drag it above the prices and you get a channel. Currently this is a bit sloppy but still, I think we can give here a slight percentage of error variation because of the manipulations and we get also a channel upper trendline projection into this area! EMA If the price slowly starts to go upwards then the 200EMA will also start to close the gap between the blue box and we can count this also as a resistance mark which will be a sign to short around the $4,500. SUMMARY: If this is scenario doesn't work out then hopefully, it was a bit educational to You! ;) Please, take a second and support my idea post by hitting the "LIKE", it is my only fee from You! Thank You! Have a nice day, Cheers! *This information is not a recommendation to buy or sell, it is used for educational purposes only!
COINBASE:BTCUSDLong
by VaidoVeek
6
BTC current candlestick patterns: Morning star vs. Bull PennantHi all, I've been getting a few DM's and emails on what I think of the current price action. In past videos and written publications I have said that things got into extreme overbought territory on the shorter time frame charts. I mentioned that things could trade sideways and be a little choppy for a few days while momentum rolls back to neutral territory. If the bulls step up you'll see reactivation of the trend as momentum neutralizes before the next push. I wanted to put out a quick educational content on two candlestick patterns and how to handle them. On the daily chart you can see a risk of Bitcoin forming a bearish morningstar reversal. However, on the 2 hour you can see a Bull Flag. So which is it? Are the bulls or bears winning? Classical Chart Patterns: 1. Morning star Pattern - this can be a bull or bear reversal pattern. The current situation is perfectly setup for a reversal if the bears capitalize. It's a 3 candle chart pattern, which I have highlighted below. #1 - You have a bull impulse candle, followed by #2 a doji and then 3rd candle has to break below more than 50% of the bull candle #1. The doji candle looks like a star in this case and signals that the market has uncertainty where it's going as momentum is neutral. So the morning star reversal is confirmed if BTC were to break below the level I have highlighted in the chart. Which happens to be our buy zone. Now of course worst case scenario is that you put your stop loss just under this level and the market reverses only to stop you out and reverses back to a bull. This is where you need to pick a side and accept the fact that you maybe wrong and manage your capital losses. I'm keeping my stop at $3300 for now until I see further breakdowns below the market mainly because I can afford to take such a loss (less than 2% draw down on my portfolio). However you need to do the math and figure out what is the maximum hit you can handle without going over 2% draw down. Depending on your trade size maybe you can afford to keep your stop in safe territory with me because you didn't take on too much risk or you might have to keep it around that $3,500 level. Do the math and figure it out. 2. Bull Pennant Many of you already know the Bull Flag and Pennant pattern here. On the BTC 2 hour chart frame you can see this bull pennant forming. Ideally BTC is supported at $3,600. The way you measure the profit zone on such a pattern is measuring the length of the flag pole and then adding that back on top of the flag. This puts us right at $4,000. Bear flags you do the reverse. Please do your own research and google these patterns and more to build out your knowledge base as a technical trader. Regards, Bobby
COINBASE:BTCUSDEducation
by UnknownUnicorn1615160
3