BAC Mid-Long Term Entry Play (Positions & Options)Technical Related:
- Double Top on BAC (already hit)
- Hit resistance level (around $38.25)
- MACD dipped extremely under half-line (more room for volatility)
- No further bearish technical indications
News Related:
- War between Ukraine & Russia heating up (bearish)
- Bank of America's financials are good + getting better (bullish)
- Buy rating given from analysts
- 1-yr price target: $51.57
- EPS Estimate: 3.26
The Play:
- Long-term position entries
- Long-term option entries?
- Mid-term option entries
*Please critique me on anything as I am new to charting :)
TERM
long GOLDGiven the fundamentals, with the current geopolitical situation, we are looking at continuation of the uptrend of the precious metal.
As we can see on our weekly chart, at the breakout of the 1,375 level, after a contraction period, GOLD extended to all time high with a 50% gain.
This is what we are expecting with the current setup, for a medium term trade, where we look at extending up to the new all time high at 3,000$ per once. Our SL will be just below 1,660, in correspondence of the lower part of the channel. A great 3.2 RR on this medium term trade
Shib Big Pump is the ROI on PatienceGood things come to those who wait. All long term shib holders have their fingers crossed and their bags filled. Their patience will be paid off handsomely in due time.
Crypto winter is upon us and has been since turn of the new year. Expect prices to heat up like the weather in the coming months.
For those who are bag holding, continue the good fight… for those who have DCA down, expect to be in profits within 8 weeks. Many have learned through the rise and fall of shib to take profits so don’t expect the next ride up to be as exponential on the daily chart due to cautious traders taking reasonable profits at strong Fib levels.
This is my first published chart and is a result of my insomnia. Any feedback or suggestions is welcomed :)
MANA - Long Term / Outlook ⚪️Let's see how MANA is behaving.
This is a 1D chart. (Long Term)
Red area:
Key resistance, which
has been controlling the price since Nov 2021.
Blue area:
Consolidation channel
Price has been moving sideways inside this
channel and confirmed it as our safe
price range.
Green area:
Essential support
has been confirmed and tested.
Be careful because this level is being tested
again, and the market isn't strong
enough.
We might see it break down.
Support levels: $2.1879
Resistance Area: $3.5430
Bollinger Bands can work as support and resistance too. Here is an example:
The market is showing STRONG SELL volumes for MANA.
Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.
The Middle Bollinger Band can push down the value, and the Lower band pushes the price up.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that MANA is below the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $2.5565
Let me know your ideas.
Good luck.
AUDJPY Gives a bullish indicationTechnical analysis on the pair AUDJPY
If we look at the H1 or one-hour timeframe, it can be seen that the AUDJP has penetrated the strong resistance area at the price of 83,839. This indicates that AUDJPY will continue its rise until it reaches the highest resistance are ever reached on Oct 21, 2021, but we need to analyze all of that fundamentally and keep an eye on the news.
Thank you.
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DISCLAIMER:
Trading activity is a risky activity, good trading is trading that is done independently.
FB BLOCKS RUSSIA OPPORTUNITY FOR LONGFB Blocking Russia dropped down FB stock down because of customer loss since the ban of It fully finished main Elliot wave (1-5) and reached complete Elliot wave fib zone of 50% and strong monthly support, it bounced off of it on a daily chart and now we are looking for a retracement to at least 50% fib zone of a downwards movement which is at 260 zone, our stop loss should be just below monthly support because if it breaks it, FB will break out of the monthly uptrend stop loss zone 171, entry price: 203. Also regarding fundamental analysis after banning Russia, people that are supporting Ukraine will support FB decision and it should increase the possibility of price rising.
Bitcoin heading to test 42k supportWe just broke the low trend around 38k that was coming since November. As you can see on the chart we also broke 200 EMA indicator, giving a long sign.
Currently heading to test support around 42.6k and in case it breakes we can head fast to 45k on a 9.5% profit since this can be just another short squeeze for it to go back to the low trend canal.
Only considering that currently global conflicts won't influence on price prediction. We could go super high or super low at anytime depending on the news ahead. Be careful and don't forget to set your stop limits.