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Necklinebreak

ILMN - Inverse Head & Shoulders Looking the huge volume accumulation in the last 3 days, there is a chance that ILMN is going to breakout of an inverse H&S neckline soon. So let's watch! If it does break up, it should not retrace below the neckline again (if it does, consider this a failed inverse H&S). Theoretical inverse H&S targe @ 308 (which incidentally is also the 38% fibonacci retracement of it's peak to bottom swing (AB) Manage positions with trailing stops 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:ILMN
by Juliac
1
AUDUSD Will complete "W" pattern - LONGWelcome back! Let me know your thoughts in the comments! **AUDUSD - 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
10
AUDJPY Correction and More Downside!Welcome back! Let me know your thoughts in the comments! **AUDJPY - 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
Short
by BKTradingAcademy
1
CROX - Adam & Eve breakupCROX has the potential for a bigger run as it broke out of an Adam and Eve formation with strong volume, and prior to that there were already several strong volume days (stealth accumulation!) during the base formation. Any near term pullbacks will be opportunity to long, with the neckline likely to hold as immediate support (~$65). Could face some headwinds as it hit around $84 eventually. But after some consolidation, should it be able to break above $84 then a longer run is definitely underway. p/s watch out for Earnings expected this Thurdday (before market opens). Any selling on "news" could be opportunity to stake if it hold above the neckline @ 65 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:CROXLong
by Juliac
2
AUD/USD Double Bottom Pattern On The 4-Hour ChartHi Traders, I hope you are all doing well today. It is Monday and the start of a brand new week. Let's smash those trades this week! Today I am looking at AUD/USD on the 4-hour time frame. We have an interesting double-bottom pattern playing out. I say interesting because the second bottom of the pattern wicked quite a bit lower than the first peak. Usually, I wouldn’t call that a double bottom but because of the clear divergence we see across the MACD, it enticed me enough to wait for an entry on this setup. Notice how the histogram and the MA lines across the MACD are both sloping upwards. This indicates true divergence as we can see that the sellers or the bears have been weakening, so we were waiting for the bulls to come back in and take control. I have highlighted the neckline in yellow. I wanted to see a break and close above this yellow neckline zone, which we clearly can see. Now I am waiting for a retrace back into the neckline to confirm that this area has been flipped from resistance to support. My long entry will be triggered once we see that retrace. I have used the trend-based fib extension to find my two targets. Notice on the chart how these two areas line up perfectly with previous areas of support and resistance. Target one is around the 0.6915 price level and target two is around the 0.699 price level. Remember, depending where you place your entry and your stop will result in your risk to reward fluctuating. I always aim for a minimum of one to two risk to reward. If we can get more than that’s great! But make sure your risk management is carefully monitored. Don’t risk more than needed. There are always further opportunities. So, let's see what happens with this one. As usual, I like to see lower bearish volume to accompany the retrace, otherwise, this bullish move could potentially just be a fakeout and we do not want to be caught on the wrong side of the trend. We are seeing some green today across the forex board so let's see if we can capitalize on these moves. I usually like to wait for Tuesday before jumping into any positions, but that clear divergence across the MACD interests me. However, if that retrace does not happen then so be it. We move on to the next one. Trade safe out there! Enjoy your Monday! The Vortex Trader
Long
by TheVortexTrader
Sterling tools near its supply zoneStertools has been on a downtrend since 2018. The stock has made a double bottom and currently at the neck line which is very strong supply zone of 250rs-260rs which coincides with 38.2% fib level. If the stock manages to give a weekly closing above 250rs and sustains the same in the following week, we might see a big upmove in this stock. Keep this stock in radar for a good positional trade since volumes have increased in previous few weeks
NSE:STERTOOLSLong
by chartistamey
PLUG Bounced from Key Level Five Times! PLUG bounced from the key level 18.47 5x's! The most recent bounce occurred on July 8, 2022. Previous bounces from the key level occurred on the following dates- February 24, 2022, January 31, 2022, May 11, 2021, November 9, 2020. Identified patterns include- "Double Bottom" pattern inside of a "Falling Wedge" IMO PLUG looks good for a swing to the upside. It has strong potential to build (especially if it breaks the upper trendline on the chart). You can trade this one 2 ways. The first way is trade it to the upside with the break of the neckline (the neckline broke recently). If PLUG closes above the neckline, I will enter a swing today with next week's contract. The other play would be to wait for a break above the upper trendline. Expected move- Max move to approx. level 25. Measurement from bottom to neckline is approx. 6. Therefore, a measurement from neckline up ($6 move) is about 25. PLUG is a stock I typically don't trade but I will "plug it in, plug it in" (if you remember the old Circuit City commercials comment below lol) on my watchlist! This stock will be a fun one to swing and trade next week. I started a small swing position (20 C 22 JUL 22) on it yesterday (Friday, July 9, 2022) with an average fill price at 1.05. Plug it in, MrALtrades00
NASDAQ:PLUGLong
by MrALtrades00
BTCUSDT wants to retest the Neckline?The price createad a W pattern on 4h Timeframe inside an ascending channel, and now the price is testing the 4h support above the daily structure. the market could retest the W neckline How to approach it? IF and ONLY IF the price is going to lose support, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
12
Easy trading Setup For APPLE (AAPL) – Triple BottomHi Traders, Looking at Apple Stock today on the 1-hour time frame. We see a nice potential triple bottom playing out. Price has been respecting the descending trend line as well as the neckline of the triple bottom. Once the price broke out of the neckline as well as the descending trend line, we had a nice bullish volume bar to accompany it. Once the market opens, I will be looking for a retracement back into the neckline. My long position will trigger then and my targets are previous resistance. Let's see how this plays out. ( I'm not a massive triple bottom trader however, this one has me curious haha ) Have a good Tuesday! The Vortex Trader
NASDAQ:AAPLLong
by TheVortexTrader
1
Short Term Setup For NETFLIX – Inverted Head & ShouldersHi Traders, Looking at Netflix in the 1-hour time frame. I see an inverted head & shoulders setup. There is divergence on the MACD Histogram as well as the MA lines and currently, the price is making its way above the neck zone. We have some nice bullish volume to accompany this break and close above the neck zone. If we see a calm retrace down to the neck zone, I will consider taking a long position with my targets being previous structure that has not yet been tested. Have a good Trading Monday, The Vortex Trader
NASDAQ:NFLXLong
by TheVortexTrader
AUDUSD Short Setup - Double Top 4 HourHi Traders, Happy Wednesday! Today, I am looking at the potential double top we have playing out on AUD/USD in the 4-hour time frame. We can see that price has been in an ascending channel and following along the ascending trend line. We may have broken the trendline but we need to see full confirmation by seeing an impulsive close below the yellow neck zone. If price and volume show a decent impulsive move that closes BELOW the neck zone, I will then be waiting for a retracement back up into the neck zone. If the retracement happens, I will then and only then open up a short position with two targets. Remember, volume is key. We have divergence on the MacD, We see buyers are weakening out on the MA Lines as well as the histogram. This just adds confluence to our setup but we need to see that impulsive close below the neck zone. First target – 0.70 with a risk to reward of 1.3 Second target – 0.695 with a risk to reward of 1.5 Trade safe out there! The Vortex Trader
Short
by TheVortexTrader
BTCUSDT Key level to SHORTCorrection in progress. Retest @ neckline w/ optional TP1. Head and Shoulders in validation, highly reliable. Timeframe predicting with applyed Fibonacci spiral. 70.7% Fibonacci retracement as an average good turning point from expected micro pullback. Expecting a slowing downward. Oscillators: Fisher Transform turning point and trajectory of price action predicted; Ehlers Stochastich Center of Gravity hidden bearish divergence. All reversal signals in confluence withe trendline resistence rejected. NONE bullish.
Short
by firmestudio
4
WKHS - bottom is inAfter hitting a high of 42.96 on 4 Feb 2021 (more than a year ago!), WKHS was on a long term decline until recently when it looked like WKHS has finally bottomed out, forming a mini inverted Head & Shoulders pattern and has since broke up decisively above this neckline yesterday. Any near term pullback is likely to be supported at the neckline @ 3.90. And when this happens, it would provide a 2nd opportunity to long at low risk. Initial target is at 5.20 (inverted H&S target). I'll put initial stop loss several ticks below the neckline @ 3.90. We do not know how much it can recover (am certainly not expecting anywhere it's ATH of 42.96 lol). Trail stops up along the way and let's see how far it can go. 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. Please your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Cheers.
NASDAQ:WKHSLong
by Juliac
GBPCAD Analysis I It will continue to fall Welcome back! Here's an analysis of this pair! **GBPCAD - Due to fundamentals over Russia Ukraine tensions, expect more downside to support. 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
Short
by BKTradingAcademy
1
CRWD - more downsideLager trend is still down despite the strong rally during the 1st half of Febuary that brought it all the way up to retest the neckline & 50 day moving average. Near Term suppoat @ 152 coming up but likely to fail. Negate bearish views if it manages to go back above the 50day moving average in the near term. 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. Please your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you.
NASDAQ:CRWDShort
by Juliac
EURAUD Bounce from Resistance and More UpsideWelcome back! Here's an analysis of this pair! ** From the daily perspective, the market has completed an "M" pattern and broken above the neckline of the pattern. We can expect a retest of the previous support before a potential rejection to the upside. Do you agree? Let us know your thoughts in the comments! Please support this idea with a LIKE 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
by BKTradingAcademy
4