Get started

Trendlinesmatter

SIdeways/Down next 6-8 months; Then rideGIS Im loving this set up in General Mills, look for it to move mostly sideways/down the remainder of the year and start of 2020. I will start accumulating around the 48 area if this hold true, because it appears to most likely be Wave 2 (aka Right shoulder of Inverted H&S) and at the very least ride back up to the decision point. In my opinion, this is at least a $70 stock by 2021. Takes patience, but for long term portfolios this is fast approaching perhaps the last great entry point for some years to come. Keep from chasing. Happy hunting anfd GLTA!!
NYSE:GIS
by UnknownUnicorn1314136
Loonie Shorts Im looking to short Loonie around 1.32514 with a stop @ 1.33465 and final target of +430 pips @ 1.28215 1. Now if we dive deeper into why I'm leaning towards bearish first lets dive into our fundamentals, like most will know last week the US cut 25 basis points from the dollar for the first time in a decade, fundamentally that weakens the dollar but right off the bat the dollar soared and the reasoning behind that was during the statement Jerome Powell started to speak in some hawkish terms which then confused investors and made uncertainty in the market, but then he next day Trump went after China putting the 10% tariffs on chinas goods which in return starts to worry investors about the dollar so they start moving their money to safe havens like Gold or JPY which is a result of gold going higher and UJ, EJ , GJ all falling. 2. Lets look into Canadas fundamentals, we already know that the DXY is starting to lose some strength and with the trade war tensions going on it will continue to lose strength, this week on Friday August 9th we have Employment change for CAD which is looking to be positive if I had to guess somewhere around the +20.5k or so and we have the Unemployment rate which is also looking to be positive possible around 5.6-5.7% so now that we have our fundamental bias for USDCAD we believe the dollar is getting weaker from trade war tensions and we believe the CAD will get stronger from Employment Change & Unemployment rate this week. 3. So now we dive into the technicals behind our fundamental bias for shorting Loonie on the Daily Tf we have our fibs with the 61.80% at 1.32750 & we are reaching our 25.00% fib channel at 1.32515 overall maintaining downtrend structure, with longterm downtrend since 2016 with a temporary uptrend returning to overall downtrend since December of 2018, we have a major support that through past price has continued to be met at 1.27500 and im looking to take my profit at a keylevel slightly above it at 1.28215 we also could use our -27.00% fib level for a TP1 at 1.29082 and our -61.80 for TP2 at 1.27648 which aligns perfectly around our support but my key level @ 1.28215 should take around 8-14 days to be met then from there I expect some sort of bounce before officially meeting the support of 1.27500. 4. Last thing is also around our 61.80% fib which is the general area of entry there is a lot of distribution building up look at this as a institution sees they are making there own entries by building distribution they push the market up to then build liquidity to push the market lower, therefore why im using around a 95 pip SL because sometimes when it looks to obvious the institutions can push the market up temporarily to fake out sellers stops and fake out buyers to come into the market before the real move, so I like to give my trade room to breathe so that the move can present itself. As always this is my bias take this as you will use it as confluence and have a Blue trading week!
Short
by suspect102
Patient trade here. Wait for the accum zone...TREE Dont jump the gun on this one, but rather over the next 6 weeks begin accumulating some Lending Tree shares or options in anticipation of a continuation pattern upwards. See below for more close up look. The cup and handle pattern is one of the most misused patterns I see on here, as everyone just wants to call any round bottom a "cup and handle". They are not. A true cup and handle is a continuation patters coming off an uptrend. The "cup" forms, and then the handle needs to retrace approximately 2/3 of the cup depth, or usually right around the .618 fib zone. That is the buy area. In this case, puts your accumulation zone around 285-270 for the ride back up. In addition, this stock has respected the weekly 125 MA at each pullback in its uptrend thus far, and I expect no major deviance here. However, if the stock falls below 250 the pattern is negated and the loss needs to be cut at 7%ish. Happy hunting, and GLTA!!
NASDAQ:TREELong
by UnknownUnicorn1314136
Don't bet against this one...NYSE:AYX You wanns see a beautiful logarithmic channel, then look no further. If you make the mistake of charting this bad boy in "auto" mode, you could easily make the argument it has run too far too fast. but if you look at this thing the right way, it sure does look like a tough short to me. Even when it tops out at channel resistance it doesn't tend to fall back down to a midpoint or anything, it just kinda grinds on up. if you do want to short here, best wait until it drops below that midline. Even then it's a dangerous proposition. My advice? Look for basically ANY pullback, especially if it brings it back down to the 100-110 range, and then just buy. Don't wanna be the person fighting this mammoth trend. See the pic below for what this same chart and lines look like in "auto" mode. Learn that log button boys and girls!! Happy hunting and GLTA!!
ALong
by UnknownUnicorn1314136
2
The "Fix" is juuuuust about in...SFIX Stitch Fix is one of my faves, and I am a customer as well. if you haven't tried it yet, I would definitely advise. Very nice service. Anyway, technically speaking I am looking for a repeat of history from the last time the 125 MA support was lost. Then it retraced back up to flirt with it as resistance until meeting its short term downtrend resistance intersection, then came back down for the glorious rebuy zone for the long. Shortly thereafter was liftoff. So, I went ahead and bought Aug 16th C27 today for this short, small move back to resistance. Then I will sell, and wait for the dip to my rebuy zone, at which point I will go ahead with a Dec call, most likely the 30 strike depending on what premium is at that time. In addition to above reasons, today officially filled the gap left from the last time it blasted off due to its earnings report, so we should be free now to move on up. Happy hunting and GLTA!!
NASDAQ:SFIXLong
by UnknownUnicorn1314136
2
Decision point for $HSYNYSE:HSY HSY has reached the resistance trend line in its current channel. That doesn't mean it HAS to go down now, it could very well bust through, or chop around just below for a bit. The Stochastic indicator is pegged out at 100 on the monthly, but can easily ride there for months to come. The daily and weekly Stochastic still has room either way. If it gets rejected over the next two days, I will initiate a short position using put options. If it pops above the resistance, I will attempt to play a pullback to test that breakout, then enter long. If neither of these happen convincingly, and it chops around right here at this spot, I will sit on my hands until it chooses a direction. Just good to know when a stock reaches a critical moment so that you can put alerts on the trend line and make your bet. Happy hunting!!
NYSE:HSY
by UnknownUnicorn1314136
Think $COST has run too far? Think again...NASDAQ:COST It really pays to understand the "log" button on your chart and when to use it. Because looking at COST monthly chart in this way shows a very clearly defined channel and midpoint line. So, instead of looking like an unchartable stock that looks as if it has to be out of gas, it becomes much clearer that in fact, it could have much further to go. This is further evidenced by the Stochastic Indicator, which is nowhere near a point of exhaustion. So COST will likely rise up to the 297-300 mark which is resistance in this smaller, inner channel currently being ridden. Then comes the decision point, and if COST is able to break past 300 convincingly, it is very possible--even likely--that it could be sitting 370-380 by the end of 2019 without too much fuss. Beautiful, strong chart here. Below is an example of what this exact same chart and trend lines look like if you keep the monthly chart in linear mode. Good luck charting that thing. Happy hunting, hope we all make it out alive!!
NASDAQ:COSTLong
by UnknownUnicorn1314136
Trendline , Range & Importance of candle close price.Hello Fellow Traders, Here we would like to talk about Trendlines and how they can be used along with Horizontal support to find great entry points , both for short term scalping and swing trades , We all know about trendlines yet traders don't use it to the full potential which this tool can provide , In this article we will be talking about Trendline above price which defines current range of price action , for our convenience we call them Price Range trendline: Price range trendline can be drawn above or below price and must be pointing UP in when price going up and pointing down when price is going down . But before starting we want you to understand Closing price of candle and its importance while trading with trendlines or Moving averages or with any indicator , In trendline trading 4HR and Daily closes are highly relevant whereas shorter time frame candle close price can just be cause of market noise and we don't give much importance to them. Candle closing price is used to understand if trendline is still valid or has been breached/ invalidated , very important in both trendlines & horizontal support n resistance. Now If you see the chart , you can see trendline supporting upside movement , then we have Range Trendline & Horizontal Support , Near Range Trendline price is mostly overstretched and looking for minor pullback/retracement , knowing price range where there is high probability we can use Limit orders to scalp pips out of pair each time price reaches our Range trendline and till 4hr candle doesn't close above Trendline , Success rate of Trading with Range Trendline is high because it doesnot act as resistance but probable price zone where bullish/bearish pressure has reached its peak and need some cool down , Check our trade idea based on same principal in shorter time frame which worked out perfectly well and let us know what do you think. For more info and knowledge about using trendlines.... we are here to help community trade better .. message us.
OANDA:XAUUSDEducation
by AariTech
1
UJ Sell or Buy Based off my analysis UJ is currently in a channel on the 4 hour timeframe. Inside the channel on the upside, price has only touched the line twice meaning there's still room for up and down movement. On the downside it has touched three times but the trend is still moving in a uptrend. My prediction for a potential sell would be if price reverses back down to 110.879 I would sell and take profit at 11.379 (50 pip profit) OR if price breaks the 4 hour price channel and decides to break out I would buy at the next day support at 111.178 and take profit at 111.478 (29.4 pip profit).
by MoniqueLHarris