$WFC - Daily inside candles & hourly pennant, watch for breakout$WFC - Daily inside candles & hourly pennant, watch for breakout for calls or puts
4WFC trade ideas
Price action trade example..!Price action describes the characteristics of a security’s price movements. This movement is quite often analyzed with respect to price changes in the recent past. In simple terms, price action is a trading technique that allows a trader to read the market and make subjective trading decisions based on the recent and actual price movements, rather than relying solely on technical indicators.
Since it ignores the fundamental analysis factors and focuses more on recent and past price movement, the price action trading strategy is dependent on technical analysis tools.
Tools Used for Price Action Trading
Since price action trading relates to recent historical data and past price movements, all technical analysis tools like charts, trend lines, price bands, high and low swings, technical levels (of support, resistance and consolidation), etc. are taken into account as per the trader’s choice and strategy fit.
The tools and patterns observed by the trader can be simple price bars, price bands, break-outs, trend-lines, or complex combinations involving candlesticks, volatility, channels, etc.
Who Uses Price Action Trading?
Since price action trading is an approach to price predictions and speculation, it is used by retail traders, speculators, arbitrageurs and even trading firms who employ traders. It can be used on a wide range of securities including equities, bonds, forex, commodities, derivatives, etc.
Price Action Trading Steps
Most experienced traders following price action trading keep multiple options for recognizing trading patterns, entry and exit levels, stop-losses and related observations. Having just one strategy on one (or multiple) stocks may not offer sufficient trading opportunities. Most scenarios involve a two-step process:
Identifying a scenario: Like a stock price getting into a bull/bear phase, channel range, breakout, etc.
Within the scenario, identifying trading opportunities: Like once a stock is in bull run, is it likely to (a) overshoot or (b) retreat. This is a completely subjective choice and can vary from one trader to the other, even given the same identical scenario.
Now lets review my yesterday published analysis:
Wells Fargo may rebound soon!
Buy call 43, September 3, at 85-90 cents, target: 2 - 2.5, stop loss 60 cents.
Outcome of the trade: +100- 120% gain closed today!
this is the power of technical analysis and using this tool correctly
reference article:
www.investopedia.com
Where would do we bounce? I might go long around 43 if this regulatory nonsense feels like it wants to chill there
Thoughts?
ADD PURCHASES IN WFCthe stock is giving a pullback to continue going up, I plan to add more purchases
Elliott wave count indicator on WFC dailyWFC still in wave 5 unless it break trend line and wave 5 arrow disappear we can say that wfc in the correction
$WFC Breakout Pullback Setupand finally $WFC pulling back to breakout level as well. Plenty of BO/PB entries if the market finds its footings here.
Cup and HandleThis is a wide cup and the depth is 33.99.
Support under HL (handle low) which is at 41.42 and mid cup which is at 37.76
No recommendation.
The cup is easier to visualize in the weekly timeframe (o:
New Level : WFCMy Entry area.
RSI testing again the level of 50
EMAs on the right order and price approaching new highs.
In case the price moves up, I'll lock profits at 3%/7% then will swing following the most reliable EMA.
Trading Idea #WFC (LONG) 📈 58.50! (WellsFargo)👋 Hello Traders!
In this video, I analyzed #WFC in detail. I bring to your attention one of my orders.
📈 #WFC went down for a long time (MN1) and only in May WFC broke through the downtrend and formed a new uptrend. WFC completed the correction in June and broke through the new level 47.45. Now the WFC is going up to three levels 54.30, 58.50 and 65.35.
🎯 I recommend BuyStop 51.10 or BuyLimit 48.60 with SL ~ 42.00
✅ If you like what I do - put 👍 and subscribe ❗️
❓ I would be glad to see your comments, what do you think about this?
DISCLAIMER:
This idea is not a trade recommendation, it has an informational purpose. The trader independently analyzes and decides whether to use this information.
(WFC) What Goes Up, Must Come DownLooking for Puts in the coming days. Volume is decreasing and momentum is slowing down. Nothing runs up forever. It WILL consolidate. It's just a matter of when. And I think soon.
WFC - breaking out?WFC made a nice engulfing candle, breaking out from a range
Held good after earnings
Sitting just above SMAs
Banking & financial sector are strong
Can make 10% from current level coming days
Wells FargoStrong Buy - Wells Fargo -Breaks Out As Jobs Report Lifts Treasury Yields
The job market is roaring back creating 943,000 more jobs in July.
The bullish report sent the 10-year Treasury yield up 6 basis points to 1.28% on increasing confidence in the economic recovery.
But
Wall Street is also expecting the Federal Reserve to start tapering its
bond purchases.
Jobs will need to keep improving for consecutive months in a row first, Pre-Covid Un-Employment levels currently 5.4% was 3.5%.
(Price target Indicator has proven to be very good, no effort knowledge required, try it yourself)
: )
8/9 WFC(1) its a weekly chart
(2) be aware that WFC breaks out the pink trend line, for next we need it to consolidate around current price before a long and small moving up
(3) bullish, but requires time
WFC breaksout yearly resistance Brokeout a Yearly resistance with a bump on the 10yr yield. Next resistance is at Fib 48.91.
XLF has also broken out
$WFC Base SetupSeeing few financials firming up and forming bases. Here is Wells Fargo with a nice 2+ month base.
WFC Symmetrical Triangle Perfect symmetrical triangle, and right now it is at resistance where it takes small movement to break it. If it breaks it with momentum there might be a bull run
Bullish triangle consolidationLooks like a bullish consolidation. A breakout to the upside could result in a continuation of the bullish trend. Definitely, would a candle opening over the 78.6 % Fibonacci level at ~47.50 USD call for a continuation.
No financial advice - just an idea. ;)
$WFC with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $WFC after a Positive Under-Reaction reaction following its earnings release placing the stock in drift A
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Wells Fargo long positionWells Fargo is a financial services company, the fourth best bank in the United States with a large market capitalization, from 2014 to 2019 its average price is $ 50 trading at this time at $ 44, on the 14th the results are delivered and although they are Its projections a bit high, the company has an upward trend looking for its average price and exceeding it if possible, when we see it graphically we can observe its 2020 ceiling and hopes to use it again floor. We look for the volume areas per month and for 45 minutes to see if there is strength with the volume profile that the trading view offers us, and we look for a confirmation with points of a fibonacci retracement of the fall of 2020
I'm looking for a long entry, with a stop at $ 42 in case the next income statement plays against us
