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Shooting Star

TSLA: Two Pivot Points to keep in mind!Hello traders and investors! Let’s see how Tesla is doing today! Friday’s reaction was quite intense, but today Tesla is trading near its resistance, trying to breakout this Triangle chart pattern again. So far, it seems the stock lacks the strength to do so, and I would only believe in a better reaction if it trades again above the $ 433.60 (green line). By triggering this pivot point , Tesla would have the strength to hit the $ 461.88 again, and the gap would help to drag the price up. On the other hand, if Tesla loses the $ 415, it will trigger a bearish pivot , and if that’s the case, the $ 360 seems to be a reasonable target, especially if we look at the daily chart: The volume seen on Friday may be an indicator the bull trend will have problems from now on. Today’s candlestick is quite mysterious, and it shows a level of uncertainty on the market. You may say that the Triangle’s base would be a better target than the $ 360, and I wouldn’t disagree, but since it already did a false breakout last week, I wonder if this Triangle is as strong as we think. If Tesla loses the $ 415, probably will lose the 21 ema in the daily chart with it, and it would trigger the Shooting Star candlestick pattern seen on Friday. All of this would make Tesla quite bearish in the short/mid-term. To sum up, we have two important pivot points to keep in mind right now . And if you like this analysis, please, support it ! And follow me to keep in touch with my daily analyses. Every day I share some thoughts with you, and I’m sure you’ll find something useful around here. Stay safe.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
17
JSW Steel ltd from 21 August 2020The stock has been continuously going up for some time in an aggressive manner and has reached the previous high (supply zone) ... . Shooting star pattern has been formed though the upward wick is small Expecting a healthy retracement till 240 level when crosses 270 mark while going down Trading Strategy: Safe : sell PE above 290 at good cost ... AUG and SEP month --> strategy with breakever above 300 is safest Heart of Steel: when crosses 270 level ; buy 240 PE and Sell 270 CE ---> collect premium and exit at good profit use calendar spread with different month expiry to get good profit MFI is in overbought zone for some time expecting it to cool down now
NSE:JSWSTEELShort
by Trade_with_yash
AUDCAD Short Term ForecastD1 - Bullish trend pattern. The price has reached a key resistance zone formed by the 161.8% (0.96314) fibonacci expansion level of the first wave and the 61.8% (0.98591) fibonacci expansion level of the second wave. Shooting star candle pattern, potential bearish divergence. Expecting corrections to happen now. H4 - Engulfing candle pattern. The price has created a false break of the wedge pattern. Expecting the price to continue lower further in the short term.
Short
by VladimirRibakov
4
RSRBTC4H. Ready for another leg up?Looking at the possibility of a retest of 10775 where there is reasonable support correspondent with the Fibonacci 0.382 position. Also, price is under the 21EMA & in a bearish descending channel currently. The daily closed 21st July with a reasonably proportioned 'Shooting Star' on the daily. I'm looking for slight decrease in price from here to then springboard back up. All this but on the hourly one may chose to take a position earlier. Sometimes waiting for retests never happen and off the train goes leaving one on the platform to wait for the next opportunity.
RLong
by iDoji