$RMO PT 30 and higherRomeo Power, Inc., an energy storage technology company, designs and manufactures lithium-ion battery modules and packs for commercial electric vehicles in North America. The company operates through two segments, Romeo Power North America and Joint Venture Support. It also offers battery management systems; and design, research and development, and other engineering related services. Romeo Power, Inc. was founded in 2014 and is headquartered in Vernon, California.
Patterns
MRNA going back down to $120?As mentioned in my last analysis, Monday will be the deal-breaker for MRNA again, and it failed to hold that resistance.
Using historic data this will most likely drop down to $120 again before going back up to the $130s so this can be a great swing trade.
BUT! Watch out for support at $126, using the previous downward channel trend resistance this can act as support so watch out for that.
Reasons for bearishness:
-Historic data of the resistance and dip (influenced the most)
-EMA's crossing right now
-RSI was oversold
It's a clear bearish sign that probably won't last for long so look for a nice swing trade here.
(I am not a financial advisor)
GOOD VS BAD REJECTION PATTERNSHello Traders and welcome to out channel. GOOD VS BAD REJECTION PATTERNS. If u like this educational content please support it with a like so we can keep posting more content like this. If you have any additional questions let us know in the comments and we will provide you with the answer! SharkFx wish you a wonderfull weekend and successful trading week ahead!
👨🏫 Continuing Pattern: ✅ Triangles👀Triangles are among the most reliabiable of the continuation pateerns. There are 3 types of Triangles with forcasting value.
Ascending Triangles
Descendung Triangles
Symmentrical Triangle
$QS PT 64-70 and higher...Long Term InvestmentsQuantumScape Corporation, a development stage company, engages in the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.
QuantumScape Jumps on News Volkswagen Will Invest $100 Million
QuantumScape (QS) - Get Report shares soared Thursday, after the electric vehicle battery maker said it met conditions for Volkswagen (VWAGY) to invest another $100 million in it.
“The milestone required Volkswagen to successfully test the latest generation of QuantumScape’s solid-state lithium-metal cells in their labs in Germany,” QuantumScape said in a statement after the close on Wednesday.
“This will be the second and final closing under the May 14, 2020 stock purchase agreement between VW and QuantumScape that provided for a total $200 million investment," QuantumScape added.
QuantumScape recently traded at 50.94 It has skyrocketed 420% over the past year amid investor mania for all things electric vehicle-related.
"We are pleased to report that the QuantumScape cells met the technical milestones in our labs in Germany that we had previously agreed upon," said Frank Blome, head of the Volkswagen Group’s Center of Excellence Battery Cell.
"Achievement of this milestone is an important step for QuantumScape and we look forward to receiving and testing subsequent generations of cells, with the goal of getting solid-state technology into series production," Blome noted.
Last week, QuantumScape began a public offering of 13 million Class A common shares.
“QuantumScape intends to use the proceeds from the offering to build a larger QS-0 pre-pilot line than recently announced; to cover its full share of equity contributions to its joint venture with Volkswagen for the previously disclosed 20-gigawatt-hour expansion of QS-1 joint manufacturing facility;" and for working capital and general purposes.
On Feb. 17, the stock jolted higher after QuantumScape revealed a breakthrough in its battery technology and after billionaire George Soros’s investment firm disclosed a stake in the company.
$THBR Advent Technologies Inc. to combine with $AMCI AcquisitionAdvent Technologies Inc. to combine with $AMCI Acquisition Corp., creating a leading next generation Fuel Cell Technology Company
$THBR update: Combination with Thunder Bridge Acquisition II on Track to Close Early Spring 2021
Clears Hart-Scott-Rodino Transaction Hurdle
Company Sees Strengthening Autotech Demand and Sustainable Order Pattern
Reaffirms Strong Revenue Outlook for Above Market Growth
Current Industry Shortage of Automotive ICs Underscores Strategic Market Opportunity
Banknifty should be in a overall overhaulingThere can be bit of upside in banknifty but a good R:R for a SHORT entry is to be realized.
SPY Rounded TopsAMEX:SPY
I'll keep updating this chart as it does look like we are seeing some bear action.
$MJNE Sky HighhhNow that $MJNE will be under their own 4 licenses, they will realize 100% of the revenues and receive rent and royalties from their LOI with MKC. They have water rights and zero debt. Roger and Paris - “Our cost to grow is second to none.” Test results showing highest terpene levels...
The future of cannabis is wholesale. Don't let the number of retail dispensaries fool you. This is just needed for the time being. Eventually you'll see these products at Wal-Mart and Costco. You are the early investor.
"Mexico Cannabis Sales expected growth up to 2 Billion"
Mexican Legalization Has Prompted Banks To Raise Price Targets On Cannabis Firms With Significant Exposure To Mexico
BOEING INVERsE HEAD & SHOULDERS 1HThe S&P 500 retreated to its trend support this last week and bounced big time back near all time highs. That being said, I'm bullish on the market this week. Boeing has a very nice looking chart on the daily time frame finding support after a swing high and I've discovered a very clear inverse head and shoulders pattern form on the hourly chart. A break of the neckline will be the trigger for me to look to go long. I'll be buying the pull back after the break this week for a swing trade. Reference my chart for a further breakdown of this trade idea. Thanks for reading and good luck out there!
GBPCAD SHORT OPPORTUNITYIf you're a chart pattern trader, you'll most likely be able to spot what looks likes downwards channel which we anticipate a short move to the downside. A multi-timeframe analysis should give sufficient confirmation for a sell setup. You may decide to enter at current market price or set your pending orders below.
My preferred timeframe of entry is the 4 hour timeframe.
Any comments, suggestions or contributions are welcome. Have a lovely weekend and look forward to a new pipsful trading week ahead.
SNDL-Repeating PatternsOn this analysis, we can clearly see the repeating patterns that SNDL been forming on its chart.
-It is pretty clear how SNDL is in love with the Ascending Triangles.
-While some triangles took days till the breakout (rise), some took months (purple triangle). So it really depends on market sentiment and investor's confidence.
-The recent big rise again followed by a nice drop which brought the potential for another Ascending Triangle formation.
-Another fact about the patterns is that every rise was followed by a bigger rise! But also every drop was bigger (in percentage) than the previous drop.
For ex: While the first 2 drops were 24% and 40% big, the next 2 ascendings had a drop of 60% and 50%. And lastly, the recent drop was 70%. So each time,
the returns are bigger, but the risks are getting bigger too!
-Currently, the length of the triangle is 1 month and 14 days. The longest time it took to break the triangle (purple triangle) was 2 months. Looks like we are going
for the 2 months long triangle formation again!
-With the given lost confidence among investors due to the market volatility and rising bonds, it is more probable that SNDL will wait for couple more weeks to fill the 2 months period for another breakout and rise.
-ATR is also getting close to its Volatility support level, but still has some space to drop. Probably will cause a little more drop in SNDL price as well.
USD/CAD Short trade 3/24A simple trade with simple rules and targets that range from modest to aggressive
TGT price target of 204$TGT broke out from a falling wedge and the price target is around 200$ to 204$ before we experience some turbulence.
SXP/USDT-A cup with a handle or a potential head and shoulders?Hello everyone, analyzed the SXP/USDT pair
In addition, I attach the SXP chart in a pair to the dollar to the recent forecast, which was paired with BTC
It is worth noting that the open interest in this coin is very high, this can be seen both in the volume and in the news background
It makes sense to look at it in the medium term.
Here, too, a huge pattern is almost formed for the continuation of the uptrend " Cup & Handle"
Now there is a final stage of formation in the form of the final element "Handle", the philosophy of this action is to accumulate positions, that is, accumulation, before entering the " price liberty zone"
The green block on the chart 3.26-2.8$ is the buyer's block, the red block on the chart 5-4.32$ is the seller's block and the final resistance.
The chart also shows hypothetical options for further price movement, the meaning of which is the same in the end, just with a different structure of the final accumulation.
Why I do this analysis, and point to a possible "head and shoulders" pattern, is because many traders see the "cup and handle" formation.
Expectations of a breakout of the level or a payoff from the green block are seen by everyone, so be careful and open a position only when you see a confirmation for yourself, in a particular position.
Trade wisely, do not overestimate the risks in trading.
Trade with your trading system, do not overestimate the lot in the position and do not overestimate the risk management.
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SPX (1D) 2007 VS 202107/08 VS 21, looks pretty much indentical, and if there is something about charts it is that they almost always repeat themselves over and over again, we've seen it numerous times, and its how i myself even trade on a daily basis. Now you may be wondering why? Well let me tell you, chart patterns work by representing the market's supply and demand. This causes the trend to move in a certain way on a chart and forms a pattern. Another factor that helps with building patterns is algorithems, many of them are built to trade of patterns (less complex ones) thus selling and buying on price action creating patterns.
But always have in consideration that news is almost always the biggest factor for patterns not moving as planned. That being said, dont go full on bearish bcs of a pattern, I recommend doing fundamental analysis, techincal analysis & macro, a pattern may never always be spot on and alot of the times scare people out just before it melts up or down.
$QCOM in ascending triangle pattern$QCOM has a reversal in place with an ascending triangle formation. Very beautiful setup to enter long on this one.
Short Term Target: 144
Short Term Target 2: 152
GBPCAD - ANTICIPATING SELL SETUPSLooking for more downward movement after the completion of the flag formation.
How To Lose Money With CONFUSION (timeframe mixing) The issue for many new traders is understanding the correlation between timeframes. We often get caught up in indicators, news hype, chat room posts, and various other things.
One of the biggest challenges I see when talking to new traders is simply the lack of "experience" in reading multiple timeframes. This causes confusion and even self-doubt. The issue with the internet being so vast is there is a lot of info - but what do you go with & why?
In this post I have tried to "dumb it down" - the simple idea is to pick your timeframes based on your trading style.
Now if work gets in the way and you need to trade end of day or even swing (Longer-term) then really, you shouldn't stress so much about a 15 minute candle. A lot can happen throughout the day. But on the opposite side of the spectrum, if you are sat in front of your screen every minute the market is open. (scalping) then trying to work out what the monthly is doing whilst you hold a trade for an hour is not going to affect your trade (in general).
To give you a great example of this - I trade COT data as it's swing, with Monthly and weekly bias. I will have a mentee say something like "COT is a buy, but the price has dropped". Yes if you're looking at the 4-hour candle. If you think what institutional players can manage in terms of drawdown, especially using hedging techniques. It's far greater than the guy investing £5k of savings into Bitcoin.
If a hedge fund buys Bitcoin at 45k and the price drops to 22.5k - the likelihood is they have a hedged position & will be buying it all back at fair value. Whereas Mr £5k has lost some sleep & half of his capital - bailed, only to see the price shoot back up above his original entry.
You think of someone like Elon Musk - if his entry of a Billion Dollars was at 40k (example) and price drops to 20k, he has a paper loss of 500m for sure, it will hurt. But again if the Tesla share price drops from 800 to 700, he has a paper loss of (say 20 Billion) - a 500m loss on paper is less of a concern. *** You get the picture.
Investors & traders know that things don't just moon! they have dips, impulsive moves and so on.
So take the charts into account - You have an idea of what timeframes to pick based on your own personal availability or your style you have already identified. As a scalper it's easy to use 4 hour or even a 1 hour candle for your bias - a 15minute for a local area of interest & an entry on a 1m - 5m chart. (example only).
If you trade swing trades (depending on the overall time & expectations) a weekly bias, a daily interest and a 4hour trigger could be what you look for.
Here are some examples;
In these examples - all I have done is used 1 tool. This is only to show the idea - If stochastic is up then I want to be Bullish, if down I'll consider Bearish moves. Keep in mind this could be anything from above/below a moving average, a key price level or a magnitude of other things. Even other tools like RSI for example.
Example of step down
The idea is this gives you a directional bias.
Then we look at the area of interest.
And finally - we want to look down on the next timeframe for the trigger (entry)
Traders can easily get confused with one timeframe saying one thing and the next timeframe up or down saying something else. If you can treat it like a tick sheet, you can step down with confidence and work on a strategy favouring your directional bias & that's in confluence with the time period & your expectations.
This really is an oversimplified breakdown. Just to give a general idea.
Have a great week!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
