OPEN 04-01-2021 LongAsset and Time frame -OPEN,4H
Entry Price -23.79
Exit(Stop Loss) -21.30
Exit(Take Profit) -32.38
Technical Analysis - Daily chart reached a significant support line and the 50MA,making a hammer like pattern on the daily(depends on the close), on the 4H chart the RSI couldn't get to oversold(and a hammer + confirmation pattern again), price will get back to the daily channel and return to the uptrend.
I would like to hear your opinions and what can I do to improve, many thanks
25M trade ideas
$OPEN OpenDoor Tech Makes Very impressive Reversal
A huge selloff finally found support yesterday on Fibs' and
the gap fill level, resulting in a 13% intraday reversal.
First major target to cross today is $27.00 (previous pivot)
$29.46 is a previous resistance levels which should act as
a good target in any reversal.
$OPEN, Zillow, and Redfin correlation and long term bullishOpendoor broke trends today during a period of limited/no support (See related ideas section).
I look to RDFN and Z for wider market trends. These 3 companies are in a similar tech real estate market. There is limited trading history for OPEN and IPOB, TradingView doesn't even allow charting properly. There is a correlation with patterns for RDFN and Z, but there has been higher volume with OPEN. Using 1H ichimoku, both Redfin and Zillow are bullish and have no trends broken. Z is actually slightly positive since the OPEN ticker change. I expect OPEN to get back on a bullish 1H trend once the early stakeholders complete their selling.
This is an accumulation level and it could gain momentum fast as people accumulate. I would like to see a bullish 1H trend since the new ticker launch, which could at the earliest be established during the first week of January, before I recommend going long.