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Softbank: Trading at top of megaphone patternSoftbank has come under increasing scrutiny for its eye-popping investments and corporate governance practices. Investing almost a billion into a company embroiled in a massive accounting fraud scandal (Wirecard) is not what I would characterize as best use of shareholders' capital. Starting from the 2009 trough, the stock has completed 5-waves up with the price action over the last 5 years culminating in a bearish megaphone pattern.
TSE:9984Short
by WellTrainedMonkey
Calbee 8 RRR shortTrading Methodology: 1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend. 2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point. 3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line . 4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line. This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
TSE:2229Short
by fiboracle
CERES the Japanese crypto cartel CERES TSE3696 has been acquiring stocks like crazy over the past 3 years, they are invested in most major exchanges in Japan. Such as 'BitFlyer' and 'Coincheck' since 2015. The fact they invested in them when it wasn't bubbly shows how smart the people working there are, later on after the infamous bitcoin bubble and hack. They didn't quit at all but acquired more company stocks like 'bitbank'(as of Oct 2018 it has the biggest trading volume in XRP according to coinmarketcap) and tried to create their own crypto exchange 'Mercury' as follow through. Crypto business is highly profitable is they can manage security properly, otherwise 'coincheck' which got hacked for 500 Million would NOT survive. And certainly, they've all learned a lot from their mistakes in 2017, further increases the probability of their success in the future.
TSE:3696Long
by JoE
MONEX soaring after buying crypto exchange giant.COINCHECK was the most popular exchange in Japan in 2017, where BTC shot up to $20,000. I kind of sense that the FOMO was originated by Japanese and Korean people. Earlier this year Coincheck announced that their NEM wallet got hacked, accounting a loss of over 580 million USD equivalent. MONEX then cut a nice deal with them by buying the company at a huge discount. The market responded with shock and huge buying with volume, MONEX then shot up through this long long neck line of an inverse head and shoulders pattern. Beautiful thing is the neck line is now being tested as a strong support now. Buying now would give us nice risk reward and once the crypto exchange giant coincheck comes back it would boost earnings of MONEX significantly. Be aware that coincheck didn't go bankrupt despite the hack, the business model is extremely profitable.
TSE:8698Long
by JoE