AFRM trade ideas
AFRM looking goodI am playing the same Fib retracement & EMA cloud setup on all my picks this week. Trying out a new strategy.
AFRM retraced to the .618 and reacted beautifully. Double bottom at the .618 plus the wick on Friday's candle shows it is a valid level of support. This area has been prior resistance turned to support so that gives me additional reason to believe we will get a bounce. Blue EMA cloud is also acting as support at that level. If the .618 is breached and a candle on the 1HR closes below it I will exit the trade. Looking to ride this back to $150 be the end of the week.
$AFRM SUPPLY AND DEMAND ZONESWhat’s up everyone!
Let’s take a look at $AFRM.
-11/10/21 AFRM reported bad earnings and price dropped down the 4hr demand and bounced up.
-Price is currently trading below the 20 day moving average which is bearish.
- I see a head and shoulders pattern forming on the 4hr timeframe.
-If we break below the 4hr demand zone, $131.68 we can target the next demand zone below which is $123.38.
Let me know what your thoughts are in the comments!
Thank you for stopping by!
DP
Affirm developing a 4thAfter what I think was an extended iii wave seems that price is correcting that could take us to the 23.80% Fib or 38.2% Fib retracement where we could see a bounce back to the upside looking for a v . If that happens we would have a 1 followed by a 2 that could retreat 61.8% Fib of 1 . If entering a trade at the end of iv I would set the take profit at the 38.2% Fib Ext. or 61.8 Fib Ext. , I would not risk to go beyond as the 2 wave will come sooner than later and tends to be a big retracement in price.
$AFRM Consolidating at a tough range.$AFRM consolidating on range between $144 to $149 tried to break but failed. falling EMA clouds are curving now it is crucial moment to hold this level and retest to break $150 level to create a reversal upside trend. if failed to hold this level will see down Fall $134.
strategy AFRM for monday 11/08/2021AFRM: buy price (169.00)
AFRM: sell price (163.00)
strategy: we will confirm our bullish entry above the buy price, we must wait for confirmation, one important thing is that afrm is making its 52wk high, it also has an inside bar on the daily chart.
our bearish entry: it would be a much better bearish gap and go, if it manages to break the previous day's low of 159.65. possible profit taking in demand zone 152.85.00 and 146.90.
Note: always remember to mark the support and resistance in the pre market hour
All Time High created for AFRMAffirm has been trading in a strong uptrend and recently touched its all time high and has been trading at higher levels. It has potential to touch 200-220 with in a few days in this rally before any significant profit booking happens.
Disclaimer:
For educational purpose only. All disclaimers apply.
Uptrend ChannelWe are in this channel since Oct 6, a doji candle was form in the 4H chart so we can experience a minimal pullback in the following days to the support line. Overall we are in a uptrend and we also broke last ATH at 146. I'm looking to add long positions at 150-151 or after breakout of the resistance line in this channel.
The horizontal lines are standard deviation. The yellow line is the mean and is acting as support right now. I'm not a financial advisor and this is my personal opinion. Have a great trading week! NASDAQ:AFRM