I Paper Traded these 8 Stocks since May 8th: $11.454K Profit SimFirst off, please don't take anything I say as financial advice or seriously. As always, this is on an opinion based basis. That being said, the stocks I paper traded off of a total of 10 trades with 11.45% profit off $100k simulated were: ETSY, TSLA, OSTK, DELL, NVDA, JD, NET, and FVRR. This was done to show I know how to also do a conservative trading strategy for holds rather than day trading or penny stock buy and sell, or other risky positions I am usually good at. That being said, I am not making a recommendation as of now on all of these stocks. Tesla I am pretty bullish on, as well as most of them, however the reason they did so decent is I was focusing on a Covid19 related time period. This is just a demonstration to show that you can still make good money while many markets are bearish. 100% of the simulated trades were profitable.
3E2 trade ideas
ETSY Pullback EntryETSY pullack price rejection at 20 EMA to close at the FIB 1.382 retracement level. Good levels of support to enter include this price and possible pullbacks to $71.16 (1.236 retracement level and previous resistance) and $63.32 (50 EMA and previous high) to average down. Good levels of confluence for entry targets.
Price target 1 at $96.56 and target 2 at $109.22
ETSY - looking ripe to LongETSY pulled back to the 50% fib retracement at 75 with bullish divergence on the 4hrly stochastic. Long @ 75 with initial stop a few ticks below 73. Looking to scale out partially at 88.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
ETSY Inc (ETSY - US) - Impulse patternETSY Inc (ETSY - US) is in impulse pattern from last swing low as shown in chart. It is all time high stock. A small new high of the impulse sequence as 5th wave of 5th wave major is due to complete the impulse. After it need to correct it up to at least wave 4 territory.
Short Target for Etsy at $70First off, please don't take anything I say seriously. As always, this is on opinion basis, and not financial advice. That being said, let me get into a few key points I want to make. Right now Etsy seems bullish and many analyst are giving it buy and hold ratings. I believe for a quick profit turn over with mitigated risk for day traders, a $70 short target should be quite reasonable as your next move.
Break above $62.6 and back tested, possible break out furtherBreak above $62.6 last week after 2 inside daily candles. and back tested level, possible break out further to all time highs $73. Online companies have been on fire, like SHOP and Wayfair. Earnings May 6, but this has run quite a bit. May options interest $70 calls with 1295, June $65 calls with over 6000 OI and $75 calls over 2200 OI. There isnt a chart pattern, maybe a small cup and handle. Good Luck!
ETSY rally incoming?ETSY is a great company, a nice platform for D.I.Y.ers and home creators, buyers and sellers. I have spotted some similarities in the price action with current price action and action from april of 2017, before it ran up almost 65%. although we are currently in a descending broadening wedge (a bullish pattern) so I would want to watch for a correction before breaking it, which leads me to believe we could be forming a massive inverse head and shoulders which could possibly break up to the 80 dollar area. look out for a break up out of the massive falling wedge, I'm looking for an entry at about 67, exit at 85, that is my plan, it is not financial advise!