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$VALE Trader Vic says Go LongBased on Trader's Vic book "Methods of a Wall Street Master" (highly recommend) , VALE has now started an uptrend. See my post on PLBY very similar, was a great trade, I'm hoping for the same here ... of course I could be completely wrong RESPECT STOP LOSS . Market has been TOUGH lately. I have a STARTER position of commons. Things that appear good from a technical perspective : - Broke out of down trend (for now) , appears to be starting trend up - EMAs turning up with 8EMA crossing 50EMA now - Nice VP gap at $14.8 , if it breaks this I will go FULL position - MOMO and RSI bullish confluence - Trading above 50ema now and holding Again, respect the stop loss Near Term PT $14.8 with a BULLISH PT upon resistance break of $18
NYSE:VALELong
by FriscoTrades
Trader Vic says go long $PLBYGreat book by Victor Sperandeo "Trader Vic - Methods of a wall street master" , specifically the section on drawing correct trendlines. I see a lot of traders (including some times myself) drawing wrong trendlines especially if they are bias to long or short. Per Trader Vic - For a downtrend within the period of consideration, draw a line from the highest high point to the lowest minor high point PRECEDING the lowest low so that the line does not pass through prices in between the two high points (i.e. blue line). Simpler said : Draw the line from the highest high to the highest high that precedes the lowest low, so that all price action is below. Once this trend line is broken , to confirm the uptrend, we want to see higher highs and lower lows AND "Prices go above the minor high point (i.e. the orange line) TLDR: $PLBY no longer appears to be in a down trend and has pivoted now to the start of an uptrend.
NASDAQ:PLBYLong
by FriscoTrades
3
State Bank of India analysis on a daily and weekly timeframeState Bank of India Analysis 123 Trend change confirmed on 9 July 2020 upon the penetration of 8 June 2020 candle. According to Trader Vic method , long position can be taken here with a stop loss below 22 May 2020 candle. We can see an inverse head and shoulder pattern forming, so we can wait for it to break to enter the trade safety. On 12 August a strong break with high volume. Traders who take breakout enter here. I wait. Note how the prices are now contracting ( consolidation ), hoping to break above, forming an ascending triangle . RSI is strong and takes the support of around 50. Prices above 20 periods moving average. Volume decreasing making a strong case for ascending triangle. Overall, a bullish case with the entry above 207.51. Stop loss based on your risk level. First target 231 Pattern target 249 Third target 294 If you like the analysis and tutorial, please donate coins :) Thanks and good luck!
NSE:SBINLong
by tradewithmitra
Electrolux B analysis on the daily timeframeElectrolux trend change confirmed to bullish based on the 123 trend change criteria on 8th July 2020. That also marks as the ascending triangle break. Entered the trade on 27th July upon re-test completion of the ascending triangle. The overall ascending triangle target is 228. My first target is at 198, which is just below the area of resistance. 18th August cup and handle pattern break suggesting a strong continuation trend TARGETS: 198,214, 228 Stop loss: 147
OMXSTO:ELUX_BLong
by tradewithmitra