Wells Fargo has formed a pretty nice H&S. NYSE:WFC
Fanning through some charts and saw this pretty nice H&S on WFC. Setting alerts on this one.
Happy trading!
WFC.B trade ideas
head and shoulder stocktake this pattern as the one i want to use for the activity i am more comfortable with this one than with the one i posted at the beginning we can expect a reversal of the trend if the price breaks below the neck line. good oportunity to open short positions.
Wells Fargo 7 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.
WFC POTENTIAL DOWNTREND CONTINUATIONWFC has broken the long term correction with a strong impulse. I'm expecting a downtrend continuation to complete a potential 3 wave pattern.
Well Fargo to drop to $38?Wells Fargo created an HVF pattern starting from around the year 2009 leading up to about 2012. It broke out of the funnel, hitting both targets nicely.
It hit perfectly at the main target for its ATH (creating the head for the H&S pattern) then dropping right back down. It is seeming to come to a finish on the H&S pattern and if it breaks the neckline, we could potentially see targets to about $38 or more (about 28% profit from the neckline).
Lets see how this plays out over time. Keep in mind this might take some time to hit its targets considering that this is a weekly graph
WFC - up to 30% room upwards before mean reversion is dueSolid fundamentals and healthy upward trend, which is expected to drive stock prices up to 30% higher.
After reaching top end of the channel a significant pullback may happen.
short WFCWFC should enter correction mode dragging with it the banks
Frist tgt: 52.70
Second tgt: 44.20
WELLS FARGO & COMPANY (WFC) - NASDAQ - Drop - xuanhaimmoerWe are in panic sell in middle term
The price break uptrend channel and built bearish flag pattern
TD - Sequential: reveal 9 red candles so we may have small up correction
Ichimoku: the price drop below the cloud and break pattern >>> test the break out in Fibo 0.38
DMI 4c: We have strong downtrend when ADX over 20 and (DI+) - (Di-) < 0
The target for this stock after up correction in the chart and all you can follow this.
Thank for reading and hope you like this analysis
WELLS FARGO going strongWells still looks well poised for higher highs. US banks seem to be on a bullish run, so investors and traders might be trying to catch a bargain with this one.
WFC monthly channel bounceXLF is at the bottom of a daily channel and bouncing. This coincides with WFC at the bottom of a monthly channel. Long WFC stock at 52. Long WFC 10/19/2018 52.50 calls at 2.75 and also at 3.00. Looking for a bounce to the middle of the channel.
Good to buy with retested CUP - HANDLE pattern and ABC waveMy strategy: I used many techniques in my analysis with
- Price Action is a trading technique that allows me to read the market and make subjective trading decisions based on the recent and actual price movements.
- Price Channel is a pair of parallel trend lines that form a chart pattern for a stock or commodity. Channels may be horizontal, ascending or descending. When prices pass through and stay through a trendline representing support or resistance.
- Elliott Wave is a form of technical analysis that finance I use to analyze financial market cycles and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective factors.
- Supply and Demand is a theory that explains the interaction between the supply of a resource and the demand for that resource. The theory defines the effect that the availability of a particular product and the desire (or demand) for that product has on its price. Generally, low supply and high demand increase price. In contrast, the greater the supply and the lower the demand, the price tends to fall.
- Support and Resistance are a critical part of trend analysis because it can be used to make specific trading decisions and identify when a trend is about to reverse.
#WFC ...guess what ...BULLISHwells fargo is moving up ….fundamentals are strong and we all know it … Feds will keep raising raising rates this year and next year … chart do show a nice setup also.
Uptrend for WFCGood time to buy WFC while it is bouncing around 200 MA. Broke down trendline. Watch hourly and daily for confirmation.
Wells Fargo's Resurgence (part 2)AT this aspect of the analysis will be straight forward because at this point, after studying the long-term trend (5-yr), we discerned that the price was trending up. After looking at the 1-yr chart my conviction hasn't been swayed although the price's trend is heading into a resistance cloud and 31.8% resistance level I feel there's enough momentum to break through them. At this point the long-term and mid-term perspectives look good the next will be to try to forecast the shorter-term prospective. BUT, I like the stock enough that I don't know that there's any more evidence from the price action to assuage me from further research. The last part of this analysis will be to do the fundamental analysis and understand the growth prospects of the company from within.
I'm not averse to doing the short term analysis, leave a comment if you'd like me to do it. Check my blog Ready Set Budget (readysetbudget.blogspot.com) for other aspects of financial planning.
