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Support_and_resistance

Falling Wedge - BreakoutDDOG starting to look quite nice here as buyers are starting to step in so long that the broader markets don't pullback. DDOG has been holding a big falling wedge for quite some time, getting rejected by the 20-day SMA, however will be keeping a close eye on DDOG with buyer volume starting to increase relative to seller volume. Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting)- Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime **(See Attached PT's &Charts Below)** Daily Timeframe - Bullish Hidden Divergence on the RSI - Falling Wedge - Bollinger Bands Squeezing 4-Hour Timeframe - Bollinger Bands Squeezing - Falling Wedge - Bullish Gartley Harmonic Pattern PT1- $89.90 PT2- $95.37 PT3- $99.34 PT4- $103.39+
NASDAQ:DDOGLong
by jacobosiason7
1
Falling Wedge- Bullish (Long) - UpdatePosting a quick update here on SQ as buyer volume finally picked up and SQ closed the day breaking above strong resistance at the $68.84 mark while also reclaiming its 20-Day EMA. SQ has been trading sideways for quite some time and is seemingly breaking out of this falling wedge heading into earnings on 9/22' and with quadruple witching this coming Friday. Additionally, SQ closed out the weak with a golden cross on the MACD. On top of that, SQ's RSI is finally out of oversold territory on the weekly timeframe, accompanied by a massive bullish harmonic pattern and its Bollinger bands squeezing. Personally am bullish and am looking for a breakout, however, will add some downside protection due to how long SQ's been trading sideways. Nevertheless, bullish and will be watching closely for a breakout from this wedge as buyers continue to step in (broader market conditions permitting- earnings & quadruple witching)- Just some support and resistance levels along with some RSI-based supply and demand zones to keep an eye on in the meantime. **See Below for Price Targets, Weekly Timeframe, and Previous Charts** --Weekly Timeframe-- - Falling Wedge - Bullish Harmonic Formed on the Daily & Weekly Timeframes - Bollinger Bands Squeezing - Closed Friday Breaking Above Strong Resistance - RSI Finally Out of Oversold Territory PT1- $78.82 PT2- $81.03 PT3- $86.76 PT4- $90.71+
NYSE:SQLong
by jacobosiason7
2
Range Trading Meets Pattern TradingMany times I enter discussions where people tend to bash pattern trading... ...saying that pattern trading is not actionable, that "most reversal patterns fail while most continuation patterns succeed", that "most diagonal patterns fail while most horizontal patterns work", that you can't derive direction from them. My answer is always that direction is not derived from the pattern itself (that would be statistically based only), but instead is derived from both interior and exterior context. When searching for actionable setups, again, patterns and diagonals will mostly provide bias, signs such as exhaustion and trend shifts, while horizontal SR (Support & Resistance) levels will actually be the ones we'll be looking for actionable setups. Here's a quick example of a Rising Wedge divided in three constantly smaller ranges showing a slowing down of the trend, where we can start seeing exhaustion by the constant failed breakouts of HORIZONTAL levels, and where one can derive potential direction bias from the first DIAGONAL trend break... ...potentially expecting now a cascade effect from smaller ranges down to the larger ranges, providing larger and larger expansion gaps ultimately running the Rising Wedge pattern target.
INDEX:BTCUSDShort
by Masserra
1
Falling Wedge- Bullish- Keeping a close eye on CRM here as its finally starting to break out of this falling wedge it's been holding for quite some time now. Big increase in buyer volume relative to seller volume as shown on the RSI with some slight bullish divergence on the daily timeframe, and some more bullish divergence on the weekly timeframe (See Attached Chart Below). - CRM closed out the week reclaiming its 20-Day SMA while also testing the upper trend line on the falling wedge it's been holding. On top of all that, CRM's EMAs are starting to curl upwards, with multiple gaps to fill on the upside heading into earnings, all signs pointing towards a breakout. - Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting)- Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime --Weekly chart & Price Targets Attached Below-- PT1- $192.54 PT2- $196.23 PT3- $202.72 PT4- $205.18 + --Weekly Timeframe--
NYSE:CRMLong
by jacobosiason7
Bullish- Watching Closely Keeping a close eye here on CRWD heading into earnings on 10/8'. CRWD has been testing the $195.11 mark for quite some time now and just closed out the week reclaiming its 20-Day SMA. Additionally, it would look like a smaller ascending triangle is forming within a broader falling wedge, accompanied by some slight bullish hidden divergence on the RSI, Bollinger bands squeezing (Not Pictured), and an increase in buyer volume relative to seller volume- all points to a breakout coming. I will be looking for a breakout from this wedge (Broader Markets Permitting) - Just some support and resistance levels along with some RSI-based supply and demand zones to keep an eye on in the meantime - Bullish and looking for a breakout from this wedge & triangle --Previous Charts & Price Targets Attached Below-- PT1- $189.36 PT2- $187.64 PT3- $191.48 PT4- $195.37
NASDAQ:CRWDLong
by jacobosiason7
3
Symmetrical Triangle - Watching closelySEDG has been holding this symmetrical triangle for quite some time now, broader market conditions permitting, will certainly be looking for a breakout to the upside going into earnings and as a sympathy play for ENPH, which has earnings on 7/26'. SEDG has some nice bullish divergence on the RSI as buyer volume increases relative to seller volume. SEDG is flagging on the weekly timeframe (See attached chart below), Bollinger bands are also squeezing on the daily and weekly timeframes in addition to a bullish harmonic pattern forming on the daily timeframe. Bullish and will be looking for a breakout from this triangle (Broader Market Conditions Permitting). Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- Price Targets & Previous charts are attached below --Weekly Timeframe-- --Previously Charted-- PT1- $277.62 PT2- $281.27 PT3- $286.34 PT4- $293.14 + Breakout
NASDAQ:SEDGLong
by jacobosiason7
8
AAPL- Falling Wedge - UpdateAfter selling off along with the rest of big tech over the passed few weeks, AAPL has seemingly found a bottom here. Will be watching AAPL closely for a run-up into earnings on 7/26'- AAPL is usually a classic case of "Buy the Hype, Sell the News" as it usually has a nice runup to earnings and proceeds to selloff as everything is already priced in. However, that is most certainly not the case this go-round. AAPL is holding a nice falling wedge on the daily & 4-Hour timeframes and closed the week sitting right on its 20-day EMA. Additionally AAPL closed on the daily timeframe with a MACD golden cross, some bullish divergence on the RSI on the 4-hour timeframe, as well as a holding a bullish Gartely Harmonic pattern formed on the (See Attached Charts Below). Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting). Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- Price Targets & Previous charts are attached below --4-Hour Timeframe-- --Previously Charted-- PT1- $142.51 PT2- $145.39 PT3- $147.96 PT4- $150.10+
NASDAQ:AAPLLong
by jacobosiason7
3
ENPH- Triangle Breakout - UpdateThe solar sector has been leading the broader markets for some time now, very much eyeing ENPH along with some others in the sector for a run-up & breakout prior to, and after their earnings. ENPH is holding a big symmetrical triangle on the daily timeframe after closing on Friday sitting on its 20-Day SMA. ENPH additionally has some nice bullish divergence on the RSI on the daily timeframe, as well as holding an ascending triangle on the 4-Hour timeframe after forming a bullish butterfly harmonic pattern (See Attached Chart Below). Bullish and will be looking for a breakout from this triangle (Broader Market Conditions Permitting)- Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- See previous charts attached below for previous price targets. 4-Hour Timeframe --Previously Charted-- PT1- $198.17 PT2- $200.85 PT3- $203.22 PT4- $206.60 +
NASDAQ:ENPHLong
by jacobosiason7
10
Falling Wedge- Bullish - UpdateJust posting a quick update here as GS has gotten beaten down as the broader markets pulled back but has seemingly found some support after reclaiming its 20-Day SMA. GS is lagging the XLF at the moment, however, looks to be setting up nicely for a big breakout. GS is holding within a nice falling wedge on the daily timeframe accompanied with some bullish hidden divergence on the RSI. Additionally, Bullish Gartley harmonic pattern on the 4-Hour timeframe along with Bollinger bands are squeezing, and a golden cross on the MACD to top it off (See Attached Chart Below). Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting). Just some support and resistance levels to watch along with some RSI-based supply and demand zones to keep an eye on in the meantime- Price Targets & Previous charts are attached below PT1- $314.20 PT2- $323.73 PT3- $329.81 PT4- $337.64 + Gap Fill --4-Hour Timeframe-- --Previously Charted--
NYSE:GSLong
by jacobosiason7
2
Falling Wedge- Bullish - UpdateJust posting a quick update on LAC here as it appears to be setting up again for another leg up. I played both previous run-ups when it was setting up very similarly to how it is now. Big falling wedge on the daily timeframe, clean bounce off the $19.04 support level, some bullish hidden divergence on the RSI, and a MACD golden cross on the 4-Hour Timeframe (Not Pictured). Additionally, LAC formed a massive bullish Gartley harmonic pattern on the weekly timeframe (See attached chart below). Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting)- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones in the meantime -- Price Targets & Previous Charts Attached In Description -- - Falling Wedge - Bollinger Bands Squeezing - MACD Golden Cross on the 4-Hour Timeframe - Bullish Gartley Harmonic Pattern Formed - Bullish Hidden Divergence on the RSI PT1- $24.23 PT2- $25.89 PT3- $26.94 PT4- $27.69 -- Weekly Timeframe -- -- Previously Charted --
NYSE:LACLong
by jacobosiason7
5