The Trade Desk Short Setup Trade the Range until it breaks and here we have a classic example .
TTD has been inside this range since Nov 2020 and has respected
the Top , Bottom and mid range of this descending channel .
We are currently approaching a key resistance at the top of the
Descending channel .
Hitting the very top Fib level that I have marked and rejecting there would add to the
pattern thus far of another lower high.
This of course can claim that resistance and hold but keeping things
simple and trading the range until it breaks is the best play.
SL placement is straight forward here and depending on your appetite for
risk the widest option is above the ATH or the alternative lower highs depending on your entry and risk management .
Know your invalidation and Like and Follow for regular analysis .
TT8 trade ideas
Ascending Triangle Forming- BullishTTD looking really nice here- Big ascending triangle forming along with a falling wedge on shorter timeframes (not pictured). Will be looking for a breakout from this triangle (Broader Markets Permitting) - Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones - Bullish & looking for a breakout
- EMA's consolidating- sitting right on the 200day EMA
- Inverse Head and Shoulders formed on the weekly timeframe (See Chart Below)
- Bollinger Bands Squeezing on the weekly timeframe as well
- Bullish Gartley formed on the daily timeframe (Not pictured)
- Slight bullish divergence on the RSI
PT1- $74.33
PT2- $76.55
PT3- $78.33
PT4- $83.34
Weekly Timeframe-
TTD breaking outTTD's break out looks like it has legs to retest previous highs. MACD is forming a bullish cross while the 50-DMA is beginning to curl up towards the 200-day. RSI is showing strength and 812% of the average call volume traded today for TTD showing lots of bullish bets on the continuation of this bullish trend.
TTD's price action is most likely related to the fact that SNAP reported minimal effects from AAPL's new update on their advertising/marketing, which should apply to The Trade Desk as well.
TTD reports earnings on August 12th which I expect to be a beat with the current estimate for EPS being $0.13. Earnings price action has been positive as of late. TTD should trade up into earnings and pop even further if there is a beat.
$TTD - 2 counts green bull red bearA lot of people talking about TTD.
I wont trade this before earnings, but here are 2 potential paths and both aim up to me (one goes lower first).
If TTD launches after earnings then I would buy the breakout of the downtrend line
If TTD flushes then I would be a buyer in the bear count red circle zone.
The green arrow is potential bull path
Red arrow is my bear path
TTD ShortUsing the monthly and Weekly time frames to establish and / confirm trend, I believe TTD is about to go down into and right after earnings.
TTD completed a 5 wave cycle impulse on the Elliot Wave and has so far completed Wave A on the retracement. Wave B is underway and should tap out around the $80.52 price point (give or take $5) and within that range, i am short TTD. Earnings is coming up the week of Nov 8th and unless there is an unusual bullish surprise, i am betting on TTD dipping down to around the $44 - $52 range within 2 weeks of earnings. With that in mind, I will be playing TTD Puts (Naked) 11/19 $70 strike as well as 12/17 $60 Strike.
As always, do your own DD and let me know your thoughts. Feel free to play a more conservative strategy if that appeals to you (i.e. Sell Call credit spreads, Buy Put Debit Spreads, Strangle for Earnings, Iron Condor for Earnings, etc.)
TTD traded to the level at 75.88, next level 80.06NASDAQ:TTD
The lines represent the price level that has been traded upon or will be traded.
The more it hit the line, the stronger the level.
It can be use to set profit taking price or stop loss price.
Every level is of same significant until order flow trades upon it.
DYODD.
TTD Maderna natural gas Lumber10.5.21 TTD Maderna natural gas Lumber: Bobby's Homework Assignment NOTE: if you are new...then go back a week or so the the first Homework Assignment and start there to set up your tools. Give yourself a month of using just the tools I am using....ONLY. You can change to what you want later. Some times it is what you Don't have on your charts that WILL save you. Have faith. Do not risk capital you you test everything I show you. Note: trading what you just heard, but which are not familiar with>>>is a phycological problem and a sign of a losing trader. Try to understand it first, test it and then decide if the tool works for you.
TTD Bear CountTTD Is trading near upper trendline resistance and could have just put in an intermediate wave 5 peak - now a primary 1. Bulls need to break the 90 high set earlier in August to invalidate this count. Bears - TTD wont break the upper trendline resistance, will get rejected sending it down for a wave 2 which should find support at the lower trendline, and begin creating a symmetric triangle. If the bear count is valid this will provide a great long set up, but probably will only come to fruition if we get a major Sept correction. Time will tell. For now I think this one is best to sit on the sidelines to see clear direction for where it is heading.