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Neckline

NVDA - Why I'm buying this dipLike many stocks forming a base right now, NVDA is also a victim of false breakups and wild gyrations recently. One may wait to test the next breakup (again) or alternatively, "buy the dips". However we before we buy a dip, we want to check that the bullish bias for the stock is still intact, which is the case for NVDA right now: 1. pullback was within 38.2% fib retracement from its AB upswing since hitting bottom in early October (ie still within acceptable range of a "normal pullback") 2. higher hi's and higher lo's still intact 3. bullish divergence between price and RSI acting out (although I have to emphasize that bullish divergence is only predictive of short term price movement, usually next 2-3 candles) 4. lastly, a bullish morning star formation. Go long at the next candle as soon as we have price trading just above the close of yesterday's candle with initial stop placed just slightly below the low of the morning star pattern (~ 158). The trick to trading is not about being right most of the time but wining bigger when right and losing smaller when wrong. Hence money management (ie stop loss, position sizing etc) are also parts of equation. 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!
NASDAQ:NVDALong
by Juliac
10
NVDA - Setting up (to Long)The semicons have been rising quite steadily since hitting the lows in mid October. NVDA has risen 63% from it's low in October and is now flirting with the 200 day Moving Average and a neckline resistence. Last Friday's candle was an inverted hammer which suggests it could consolidate below the neckline for a while more. With overall market momentum lacking, we are also seeing a fair number of false breakups. Hence always trade a breakup with only "test" positions with tight initial stops just slightly below the breakup levels. A more conservative trader would probably wait for the first pullback from the break up, ensure that the pullback do not invalidate the breakup (eg any pullback that went back below neckline) and then wait to buy the break high of the initial break up (point 4 on daily chart). While this means we are buying at a high level, it also help us avoid many fake breakups which a weak market is often fraud with. 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!
NASDAQ:NVDALong
by Juliac
EUR/HUF - inverse Head&Shoulders - Long - 1-3wA potential inverse head and shoulders pattern on the chart (not the prettiest, but whatever) and on the RSI as a possible sign of a reversal. Let's see if price can rise above the neckline around 415 HUF, if so: Buy in: above ~415 HUF TP: 433 HUF Time interval ~1-3weeks Fundamental background: The European Commission has concluded that Budapest has not sufficiently fulfilled its reform promises in the fight against corruption, and will recommend to member states to freeze €7.5 billion from three cohesion programs at its meeting next Wednesday, according to the conservative daily Frankfurter Allgemeine Zeitung. ( 23.11.2022-13:14) If the Council adopts the Commission's proposals, it would mean 65 % of the funds for three Hungarian operational programs would be withdrawn from Hungary. This would mean blocking €7.5 billion, or around 3,000 billion HUF, which is around the third of the cohesion funding for the budget period up to 2027. HUF weakened against the euro on the news. source: www.faz.net
Long
by Skill4fun
2
BILI - will the next break up succeed?Chinese stocks have been on a roll recently due to a combination of factors: 1. the potential easing of their zero-covid policy 2. hope that the tensions between US and China could be thawing after the recentG20 summit 3. very attractive valuations Preferably we wait for a breakup and a retest back towards the neckline and with higher lows in place. 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!
NASDAQ:BILI
by Juliac
SHOP - formed a baseAfter falling more than 80% from it's peak of 176.29 on 19 Nov 2021, SHOP began to range sideways since May 2022, forming a rounded base. There was an attempt break up the neckline @ 45.43 on 11 Aug 2022 but it failed after filling a prior gap that happened on 4th May. It is now close to making another attempt at breaking up and there is a chance it could stall at the neckline (again). However, now that it is crossing above its 200 day moving average, its odds of breaking up successfully in the near future has increased. Long the breakup with an initial stop just slightly below it's 20 or 50 day moving average. Its momentum is strong as long as it continues to trend up along or above it's 20 day moving average. 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:SHOPLong
by Juliac
4
GBPJPY - Potential Bearish Reversal!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. on DAILY: Left Chart As per my last analysis, we know that GBPJPY is around a resistance zone so we will be looking for sell setups. on H4: Right Chart GBPJPY is forming a head and shoulders pattern but it is not ready to go yet. Trigger => for the bears to take over, we need a momentum candle close below the gray neckline. Meanwhile, until the sell is activated, GBPJPY can still trade trade or even break the resistance zone . Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
2
NZDJPY - Potential Bearish Reversal!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. on DAILY: Left Chart As per my last analysis, we know that NZDJPY is around a resistance zone so we will be looking for sell setups. on H4: Right Chart USDJPY is forming a head and shoulders pattern but it is not ready to go yet. Trigger => for the bears to take over, we need a momentum candle close below the gray neckline. Meanwhile, until the sell is activated, NZDJPY can still trade trade or even break the resistance zone. Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
2
Ltc closes a daily candle above the inv h&s necklineFinally a daily candle close above the inverse head and shoulder neckline for litecoin. Many alts have had an initial neckline penetration that then went back below the neckline for awhile before finally triggering the second time it went back above the neckline so it’s possible litecoin could also follow this same behavior. However we can see the 1day 50ma already starting to curl up here and considering there appears to be quite a lot of momentum occurring across the cryptosphere, its entirely possible litecoin could trigger the invh&s breakout on the first time above the neckline. Worth keeping an eye on. Should know within 3 daily candle closes if it is going to validate the breakout now or later. *not financial advice*
COINBASE:LTCUSD
by DrDovetail
HD - could it break up soon?HD had been building a base for the past 9 months, forming a double bottom. It began to break above the 200 days moving average on 10th November and had sustain above this MA since. Currently it looks close to attempting a break above a neckline @ 327. However with still much uncertainty and volatility in the market, it is safer to long the breakup with a test-sized position. Any pullback to retest the neckline could be a safer place to increase position size if the neckline proves to be a new support and trailing stops should be in place. There is a chance the market could continue to whipsaw sideways for a while more until more economic data comes in. 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:HDLong
by Juliac
2
AAPL - looking vulnerableAAPL had been the strongest among the FAANG (aka MAMAA) stocks. In the past week we saw AMZN, GOOG, META breaking lower, a sign that the Nasdaq isn't on it's way to sustainable recovery anytime soon. While AAPL appeared more resilient, it's weekly chart had been forming lower highs since the start of this year and is now back to testng a critical neckline and horizontal support zone between 129-132. Should AAPL start to break below this "neckline", then expect more pain / volatlity in Nasdaq for a while. Cautious on AAPL at the moment unless it can trade above it's 50day moving average again for a start (preferably a golden cross too). 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!
NASDAQ:AAPL
by Juliac
GBPCAD I Potential Buy from Support NecklineWelcome back! Let me know your thoughts in the comments! **GBPCAD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Long
by BKTradingAcademy
9
K - Cup break upK is a long term investor's dream as the stock continues to be in an bigger uptrend (despite that it has it's fair share of volatility). For the past 2 months, the stock has gone into a cup consolidation and finally broke up last Friday, probably in anticipation of earnngs that is expected out on 3 Nov (BMO). We do not know if this breakup is for real but should there be any near term pullback below the neckline, then I would be watching for a possible "handle" (higher low) which could make the case for a solid cup and handle formation, 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:KLong
by Juliac
CDAY - will earnings be the catalyst?CDAY has formed an inverse H&S and is now trading close to it's 200 day moving average. However, the stock might not be on a sustainable uptrend just yet until it can clear the neckline around 70.80. With earnings expected on 2nd Nov (AMC), let's see if it could propel the stock above the neckline. When it does, it is still prudent to place an initial stop loss (say) just 5% below the neckline (to avoid sharp drawdowns). It is always better to keep losses small and re-enter when technicals look right again. 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!
C
by Juliac
INMD - potential Cup & HandleINMD seem to be a great study on chart patterns and fibonacci retracements! :) The stock first broke out from an Adam & Eve neckline @ 27.20 on 13 July, propelled 42% from here to a high of $38.76 (which was a 50% retracement up of the intermediate downswing AB). It then lost momentum and started a steep pull back, finding support only around 61.8% fib retracement of the recent upswing AB. This steep retracement and subsequent action is beginning to shape into a potential Cup & Handle pattern (a pattern which is a lengthy "pause/consolidation" in a prior uptrend). With earnings round the corner (expected on 3 Nov), will it be the catalyst that propel the stock to successfully break up from this C&H formation? If and when it does, we will have a golden cross (20day MA crossing above 50day MA) as well. Nothing is guaranteed so we can only wait and see! LOL. Earnings can swing both ways although the strong volume accumulation on 13 Oct seem to suggest expectations are to the upside. If and when the stock breaks up, then it further consolidates the stock's recovery is well underway (even if it might still be volatile). Long @ breakup or at first initial pullback towards C&H neckline Initial stop loss with be at most recent pivot low (C&H's "handle's" low) 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!
NASDAQ:INMDLong
by Juliac
2
SAM - Time to bottoms up?After having fallen a whopping nearly 79% from it's peak in April 2021, SAM appears to be finally turning the corner, after forming a rounded base in the past 7-8 months. It hit rock bottom on 16 June, right where it was a former low during Covid crisis (March 2020). A month later, there was a strong spike in volume due to earnings beat (by 1.11%, not too fantastic, but still a beat nevertheless). The stock then pretty much went nowhere until last Friday, after it reported a much stronger earnings beat this time. What is significant this time is that it managed to gap up and close above the base formation neckline @ 396, a 19.7% rise within a day. Weekly RSI is strong and rising. However there is a near term resistance at 407 and we could see some consolidation around there. Buy the dips is probably a good idea. 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:SAMLong
by Juliac
TOST - potential golden cross & inverse H&SDespite the volatility, TOST is still showing superior relative strength to the market, now trading 66% above it's June's low of $12. A golden cross (50day MA crossing above it's 200day MA) might be happening soon, plus it is also trading close to the neckline of now a more apparent inverse Head & Shoulders Base. Perhaps these are signs that earnings (expected on 3 Nov) could surprise to the upside. Let's see! p/s still a very volatile market. trade at own risk. 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:TOST
by Juliac
EURCHF - Wait For The Trigger!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. on DAILY: Left Chart EURCHF is approaching a resistance zone in blue so we will be looking for sell setups. Knowing that EURCHF can still trade higher inside the zone before going down. That's why we don't sell blindly, we always zoom in to lower timeframes and wait for the bears to take over. on M30: Right Chart EURCHF is forming a double top pattern but it is not ready to go yet. Trigger => waiting for a momentum candle close below the gray neckline to sell. Meanwhile, until the sell is activated, EURCHF can still trade higher. Which scenario do you think is more probable and why? Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
17
CPNG - inverse H&SThe techs are lining up quite nicely for CPNG so far with all 3 moving averages (20,50 and 200) about to cross up in the right order. A break up above the neckline @ 21.35 (esp with solid volume) will be a good buy point. However, it is probably prudent to test with small amount first and add if it pulls back to retest near the neckline (or pyramiding up is ok if overall momentum is strong). I will put initial stop loss just slightly below $19 and trail stops up if trade is working out. Take partial profits if it is able to reach around 26.5 (resistance there). Let's see if it works out! 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:CPNGLong
by Juliac