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Piercingline

TSLA: Possible scenarios and complete weekly analysis.Hello traders and investors! Let’s see how Tesla is behaving today! And since it is Friday, we'll do a complete Multi Time Frame Analysis on it. First, we may have something new on it: Tesla triggered a pivot point at $ 398. Now, Tesla hit its resistance at $ 408 as we thought it would in my previous analysis, and now it is struggling around this point, which is a natural movement for the stock. The 21 ema is flat, which indicates some indecision about the trend, but the situation is still quite dangerous for the stock. If it trades again under the $ 398 the market may understand this movement as a false breakout , or even worse: A Dead Cat Bounce. Let’s take a look at the daily chart for more insights: The sign is not the greatest, as the resistances are holding the price very well, and yesterday’s candlestick pattern was not a proper Piercing Line pattern , as it left an annoying shadow above its body. It could just retest again the $ 359 region, but the signal will be given first in the hourly chart, if it trades under $ 398 again, by doing a false breakout from a pivot point. As we also discussed in my previous analysis, if Tesla loses the $ 359, it will seek further supports, like the $ 329. Now, let’s finish our studies by looking at the weekly chart: There’s nothing surprising going on here, but if the weekly chart says something to us, is that Tesla could drop more, at least to hit the 21 ema, and this wouldn’t ruin the long-term bull trend! But again, it must lose the $ 359, which is probably the most important point for Tesla right now. Tesla will only enter in bull territory again if it trades above $ 408. Then the reaction will be better, and it may have strength to hit the All Time High at $ 502 again. Now, if you liked this analysis, please, support it ! And follow me to keep in touch with my ideas. Every day I share a few thoughts here, and you may find something helpful around. My best regards. Have a great weekend.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
24
TSLA: Bloodbath after the Battery Day! Now what?Hello traders and investors! So, it seems the famous Battery Day was already priced after all. Now Tesla is dropping sharply, and this happens very often after hyped news in the stock market. I always orient my group to not buy anything solely on news. It could work very well, yes, but sometimes it doesn’t. We always must stick with the technique , and in the end, it doesn’t matter the short-term noise, and we must focus on the big picture. I’ll keep my position and continue from where we stopped. Since TSLA lost this purple trendline , the bull trend started to get weaker, and now it lost the red line at $ 408, which was an important key point. Now, the support at the green line didn’t hold the price as we thought, and Tesla is going to seek further supports. The black line at $ 360 is the next support in the hourly chart, which coincides with our target in the daily chart: The purple line at $ 359 worked as resistance and support in the past, and now is a good target to aim in the next few days. As long Tesla continues to trade under the 21 ema, the buyers will have a hard time. Only a very good reaction in the daily chart would keep Tesla away from the bearish momentum now, like a Piercing Line pattern, or Downside Tasuki Gap, for instance. The reaction must be clearly seen in the hourly chart as well. These are the most important points to keep in mind for now, and if you like this idea, please, support it ! And follow me to keep in touch with my daily analyses! Every day I share a few thoughts with you, and I’m sure you’ll find something you like. But, since Tesla is in a bull trend, the sitution favor the buyers, and there's no clear reversal sign yet, not in the daily chart at least. We can't discard the possibility of a sharper pullback, but this is a topic for another analysis. Meanwhile, let's see if Tesla will recover, at least to the 21 ema in the hourly chart in the short-term. Either way, stay safe.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
11
EURUSD - Chart went up nicely today as expectedLooks like we got ourselves a nice bullish jump as expected. 1D: For now we see a comeback to the ascending trendline that start on may 14th. For now today's and yesterdays candle stick patterns combined seem to show a trend reversal. Why? because today was a good day and markets we're pushing prices up, but also because the candlestick pattern shows us a 'piercing line' which is a possible trend reversal signal. Let's see where we're standing tomorrow. Also checkout my previous TA linked below for a multiple timeframe analysis. Trade safe, stay safe! ______________________________________________________________________________________________________ I'm purely a beginner in technical analysis . Please hit like, follow if you like my ideas or place a comment if you wish. Any of your feedback is my motivation to keep going and to learn more about Technical Analysis!
Long
by AlgoSurfer
12
SPX: Will we defeat the ATH? Let's see here...Hello traders and investors! So, SPX is doing some interesting movements! Let’s what’s going on. First, we failed in defeat the ATH, which is the black line. But SPX didn’t lose the purple line we talked about yesterday, which is a previous bottom . In a bull trend, supports offer opportunities to buy, and the buyers where there to hold the price. Ok, but the movement was not strong enough to hit the ATH again, and it left some huge shadows above the two last candlesticks. And right now, SPX is in a decisive point. If it loses the purple line again, the odds are that it will trigger a bearish pivot that could lead to a sharper pullback. But if defeats the ATH, the trend will resume as usual. Now, let’s see the daily chart for more clues: Today’s candlestick is bullish and could be a Piercing Line candlestick pattern. If it were closer to the 21 ema, would be a buy for sure. Right now, since it is close to the ATH, I think is just a bullish candlestick, and nothing changes. Only if SPX loses today’s candle low or the purple line we talked about in the hourly chart we will a further pullback. Until then, SPX will just go up without rest. Now, if we see a pullback, the red line is a natural target for SPX, as the 21 ema. If we see a bullish sign near any of these points, is just opportunity to buy, or buy more/again. And if you found this idea interesting, please, support it! And I invite you to follow me to keep in touch with my daily analyses. I don’t post too much, so, I won’t bug you. There’s nothing indicating that the trend will reverse. There are no bearish pivots, no descending tops and bottoms, nothing. A pullback is more believable, but since the bull trend is so strong, we can’t count too much on it. Tomorrow we will have more clues. Recent public trades (links below): XP: +30% AAPL: +10% LB: +45% UKOIL: +62% Congratulations to all of you, my dear subs, who believed in my trading methodology, and challenged the world by being a bull! We deserve to celebrate! BECOME A MEMBER! Remember to follow me , I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
SP:SPX
by Nathan_The_Finance_Hydra
4
The UKOIL SNIPERS.Our trade is doing nicely here, giving us more than 30% profits now, as my entry price is U$ 21.10. If you missed my call on UKOIL you can check it bellow the moment we saw an opportunity, and the reasons that drove us to buy. Also, follow me to keep in touch with our trades and analysis. The moment when we long UKOIL: Now it’s not the time to buy, neither to go short. If you want, you can sell partially your long positions, but personally I would wait for a more bearish sign. The last candle could scare a little, after all it is almost a Doji near the 21 ema. But no worries, in the end was just a correction, and the hourly chart can give us more details about it: The price did a descending triangle pattern, and recently broke up and is resuming the trend. If the price went under the U$ 25.75 zone (black line), you could assume a further drop, but that didn’t happen. But for now, nothing else to do but wait. Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
TVC:UKOILLong
by Nathan_The_Finance_Hydra
9
UKOIL - The game is on.There’re no surprises here, UKOIL is doing exactly what was supposed to do. In case you missed, in my previous analysis I pointed out that Piercing Line pattern, and if triggered, it’s a long trade. Here’s my last analysis: If you like faster trades, the hourly chart gave us a nice and very technical trade. Yesterday I pointed about this pattern, Adam & Eve Double Bottom, and today reached its target. Check it out: I confess that I would like a stronger candlestick today, with a closure way above that blue line, which served as support and resistance in the past, but that’s fine. Let’s be patient here. Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
TVC:UKOILLong
by Nathan_The_Finance_Hydra
UKOIL - Are the bulls ready?* Remember to support with LIKE and FOLLOW me for more analysis * The UKOIL did a Piercing Line pattern today, and if confirmed tomorrow, the price will have the strength to breakout the U$ 22.38 zone, which is an important one, as it served as support and resistance in the recent past. The stop would be the piercing line’s low, and the target could be around U$ 36 (previous top). Also, there’s a gap that could help to lead the prices up, but we should wait for more information. Let’s look at the 1H chart: It seems we have a double bottom here (Adam & Eve type), which was triggered, and the price did find a support at the U$ 20.15 (the peak between the double bottom, serving as both support and resistance now). This is a very good sign. UKOIL is doing a very technical move here, and it seems the bulls are going to show up. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
TVC:UKOILLong
by Nathan_The_Finance_Hydra
Did UNT Just Give Us a Reversal Signal?It's FRIDAY. On the watch-list for next week is UNT. Unit Corporation is an oil company out of Oklahoma. I believe it is about to reverse it's downtrend for some good profits and here is why. 1) The candle closed the day with a pattern called a Piercing Line. I won't get into the details of what makes it a Piercing Line, Google is your friend, just know that it is one and is an early indicator of a reversal. I'll link information at the bottom for you to research on your own. 2) Volume is bullish and above average confirming that today's price action is legitimate and there is good liquidity at this price level. Good volume matched with the candle pattern is compelling evidence. 3) The Relative Strength Index, or RSI, is OVERSOLD. It has just bounced off support with a double bottom and is tracking back up to the top of a downward resistance trend line. If RSI breaks through that it is another indicator that this downtrend is over for the time being. 4) Not shown here but the Stochastic oscillator had a bullish cross. If you're interested in seeing that let me know below. 5) Not shown here but the Parabolic SAR is about to make contact, another bullish signal. If you're interested in seeing that let me know below. 6) Not shown here but the Demand Index has created a BUY signal as of TODAY. If you're interested in seeing that let me know below. Final Thoughts: Today's price action and candlestick patterns are an EARLY warning sign, a good warning sign for bulls, that a reversal is coming. However, to differentiate trading and gambling, you have to be patient by waiting for confirmation. So how do we know when this reversal pattern is likely to be real and confirmed? MONDAY MORNING GAP UP OPEN followed by continuation for the day. You may pay a slightly higher price to get in but your probability of it being a "good" trade are exponentially higher. Good Luck. My price target is the low $13s from where it sits now at $9.62.
ULong
by BlakeNorthcutt