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Flag Pattern on Delta Airlines - Bullish breakout expectedToday we will make a Daily and a 1h analysis on Delta + the setup we will take on this asset. Daily Chart: On the daily chart, we can see a Clear support zone and a resistance zone. The price is above the support zone, and we can project a bullish movement towards the next zone (Resistance) On the 4hs chart, we will understand the setup: Here we can see a Flag Pattern above the support zone. Flag Patterns are considered continuation structures. That means that if we have a breakout of it, we can expect a continuation of the previous trend. Our entry-level is a stop order at 42.88 / Stop level is at 38.25 / Break-even level is at 47.01 / Take profit at 50.76 The risk-reward ratio on this setup is 1.7, and we expect a resolution of 30 days. If the price goes below the stop level without executing the setup, we will consider that the view is no longer valid. Thanks for reading!
NYSE:DALLong
by ThinkingAntsOk
2
New All Time Highs for Stocks??The S&P dipped, but not nearly as much as we anticipated. It is still holding the range 3792 to 3825. This is a very narrow range for stocks and we anticipate a breakout today either way. A breakout to the downside seems a lot more likely, since the Kovach OBV is not registering much momentum. If so, consider 3758 or even 3737 to buy back. However, it is hugging the upper bound of the range, which could suggest a breakout especially if we see momentum pick up toward open. If that happens, 3856 is our next target.
FX:SPX500Long
by quantguy
PTON on the way to $200Great chat to take a look at today "PTON" -We can see the ascending trendline and the Support resistance zone as the two key elements to understand this chart The Ascending trendline represents the asset's long-term bullish trend, and we can see how the price is accelerating and taking distance from it. -The Support Resistance zone was the previous level in which a huge corrective structure was formed (ABC pattern) -After the breakout of it and a bullish impulse, we saw a corrective structure (smaller ABC pattern) finding support on the previous zone -Now we had a breakout of the small structure, and we expect a continuation of the bullish movement towards 184.86 (First target in which we will move our stop loss to break-even) and then to the final target 205.5, where we will close our long setup -The setup we developed was Entry above "B" and Stop below "C" (of the small corrective structure) / Break-Even and Take profit were explained on the previous items
NASDAQ:PTONLong
by ThinkingAntsOk
2
Stocks Pausing Before New HighsStocks are ranging at highs, caught between all time highs, a technical level at 3825, and the nearest Fibonacci level, 3784. We are seeing some consolidation here as stocks find footing. Our target still remains 3856. Beware of some retracement first, even a 50% retracement would still be considered bullish. That would put us at 3726. There are several levels of support before that. The Kovach OBV is a bit flaccid, indicating that there may not be as much momentum to this rally as we'd like.
FX:SPX500Long
by quantguy
1
Understanding how to trade Pennant patterns / Real exampleToday we will show you the theory behind Pennant patterns and apply them to a real example. CONTINUATION PATTERNS: Ralph Nelson Elliott (who created the Elliott Wave Theory) discovered that there are 4 types of patterns that the resolution of them tend to be in the same direction of the previous impulse once the correction is finished and we have a breakout. -TRIANGLES -IRREGULARS -ZIG-ZAGS -FLATS Today we will learn about pennant patterns, which are a type of triangle. Pennant Patterns are made by 5 waves (abcde); you can draw that using the tools you have on trading view on "Patterns." In general terms, you will be able to draw two converging lines, and the price will start compressing there. It's important to know which is the previous impulse of the pattern to draw the Fibo Extension using that previous impulse. The Fibo Extension will allow you to define targets and are extremely useful when you are at ATH because you can't rely on previous technical movements to define supports or resistances. HOW TO TRADE THEM? Entry-level: Always above/below B depending on the direction you are trading. In this case with AMZN, our confirmation level is above B Stop Level: Always above/below A depending on the direction, you are trading. The easiest way to define your stop level is by setting it above/below the whole structure. Break-Even level: If the price starts going in the expected direction, you can move your stop loss to your entry-level, once the price reaches the First Fibo Extension Target: Use the last Fibo extension level. Your minimum risk rewards ratio should always be 1.5, never less than that. Thanks for reading!
NASDAQ:AMZNEducation
by ThinkingAntsOk
7
All the items you need for a long setup on ZOOMLet's see all the items we need to understand to develop a long setup on zoom CONTEXT: It's essential to have a context aligned with our view before developing setups. In this case, our Context is a bullish ascending trendline that converges with a support zone, creating a great area to think about a reversion of the direction STRUCTURE: Supported on the previous item, we can see a FLAG Patter. From a technical perspective, flag patterns are considered continuation structures, meaning that after the breakout of it, we should see a continuation of the price in the previous direction before the consolidation. TARGET: To define our Target, we use Fibonacci Extenssions; in this case, you have to identify the previous impulse before the correction and draw the extension from there (if you don't know how to draw fibo extensions check the link to related ideas. There you will have a full explanation of it) / Its imperative to always have Risk Rewards ratio above 1.5 on your trades, in this case, we have 1.9 so we are good. SETUP: Now that all the previous items are OK, we will define our Entry level above B / Stop loss below C / Break-Even level on the first Fibo Extension / Final Target on the 2nd fibo Extension. RISK: Your account will always be protected if you risk 1% of your trading capital on any given trade; that way, you can absorb losing trades without compromising your whole account.
NASDAQ:ZMLong
by ThinkingAntsOk
9
Stocks Make New Highs, What's Next?Stocks broke past new highs, hitting our profit target. The S&P is facing resistance at 3825, and it is reasonable for it to retrace. There is not a lot of momentum to this rally as measured by the Kovach OBV. New highs should take some momentum to punch through. If we do retrace, we could find support at 3792 and 3784, which are nearby technical and Fibonacci levels, respectively. A sharper retracement could take us to 3759, which is a Fibonacci and technical level. Once we break out, the Fibonacci extension 3856 is the next target.
FX:SPX500Long
by quantguy
2
What we can see on PGToday, we will share our VIEW on PG. a) The main structure of the current movement is the ascending channel, which has been broken, and currently, we can see the price on the edge of it b) The second most relevant structure is the corrective pattern we can see on the edge of the ascending channel c) If we have a breakout of the corrective structure (on the green line), We will consider that the view is active d) If the price goes as expected, the first Fibo level is a risk-free zone, meaning that we would move our stop loss to break-even e) Our Final target is 167, where we expect a 100 days movement f) Also, it's essential to pay attention to the invalidation level. If the price reaches it, we will consider that our view is no longer valid, and maybe a bearish movement could start.
NYSE:PGLong
by ThinkingAntsOk
2
What the US Revolution Means for StocksStocks did not seem to care about the revolution in DC at all. They have retreated from the massive correction on the 4th to highs again, finding support one level below all time highs at 3758. Interestingly there is a divergence between the Kovach OBV and the price which suggests we should see lower levels again before breaking out further. The levels 3737 and 3714 should provide support again, unless there is another meltdown like Monday's. When the S&P does finally break out it will find resistance at 3792, a nested Fibonacci level. There is another Fibonacci extension level quite a ways away at 3871, which should be considered a long term target.
FX:SPX500Long
by quantguy
4
NQ Power Range Report with FIB Ext - 1/7/2021 SessionContract - CME_MINI:MNQH2021 - High - 12678.25 - Low - 12646.25 Current Stats - Gap: = N/A - Session Open ATR: 195.00 - Volume: 33k - Open Int: 228k - Trend Grade: Bullish Key Levels (Rounded - Think of these as a range) - Long: 13337 - Short: 10650 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
CME_MINI:NQH2021Long
by mv3trader5
What is to Come after Stocks Stumble in the New YearWe warned you stocks would face resistance at highs and a retracement was likely. But we admit that we didn't anticipate the extent of the fallout here. The S&P blasted through the levels we have identified, at 3737 and 3714, and then a few more before finally finding support at 3665, a Fibonacci level. The Kovach OBV has registered this dip and verifies how serious the momentum was here. It is difficult to say whether we will continue to dump today or if stocks will retrace. We do seem to have bounced back already, but 3714 is now providing resistance. Watch for momentum at current levels toward the open for a hint of where the market is going. Ghostsquawk AI is risk on, but more toward the neutral side, so it could go either way. NOTE: on the daily chart there is a bearish butterfly cypher pattern. These tend to be pretty reliable so we could be in for another sell off and potentially a bear market soon.
FX:SPX500Short
by quantguy
1