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SQ3 trade ideas

Two scenarios explained on Square INCToday we will analyze SQ. This company is the 4th biggest Holding of ARKK and is run by Jack Dorsey (Twitter funder) So what can we see here? 1) The main structure: We have a horizontal compressive channel that has been in formation since its peak on FEBRUARY 2021. This is useful because we can know if the price has made a clear breakout or not based on the reaction on these levels and daily candlesticks closing above or below. The main idea here is: If the price stays inside these levels, don't assume any breakout yet. 2) Possible Bearish Scenario: If the price reaches the highest level of the structure and reacts there, we can expect a bearish movement towards the other side of the range. (Interesting level for reversal traders) 3) Possible Bullish Scenario: When we want to develop swing setups based on new trends starting, we take some considerations before risking our money. First of all (Clear Breakout), we want to observe a new ATH (no doubt that the price broke the structure). After that, we want to observe a small consolidation, as you can see with the yellow lines. IF that happens, we can trade above that and set stop loss below the level. This provides a great confirmation and a setup with a perfect Risk-Reward Ratio of almost 1:3 to the first target. Expected time towards the final target (150 - 200 days if the scenario goes as expected) As you can see, we don't care at all about the direction of the market. Taking rigid views with any asset is not a good idea because it doesn't allow you to adapt to changing conditions. That's the reason we work with "Scenarios." Based on this, the only situation we are interested in is the bullish one (Swing Setup); otherwise, we will stay on the sidelines. Thanks for reading! Feel free to show your view in the comments.
NYSE:SQ
by ThinkingAntsOk
2
SQ - 2021-07-16 EODNYSE:SQ SQ - 2021-07-16 EOD ================== Daily chart ========== * The descending triangle pattern holds here too * In order for that to be broken; the upward channel would need to be followed; but will need confirmation * If it makes a downward move; there's several barrier's to break through; including the 50/100 MAs and the support at 223. In this case if it breaks through all these levels watch it for testing the resistance of the descending triangle * If it bounces off the green upward channel it may signal a continuation of the upward move * Since RSI is at 48; it can move up; but the price action shows more selling pressure; * MACD/ATR show decreased volatility; it's possible it may continue in the descending triangle ... cool down and the a possible breakout? * Notice that a double top is also formed at the resistance line of $250 Good time to buy? ================ * If it continues in the upward channel it could be a good time to buy but if it continues down in the descending triangle; this would be a bad time. Wait for the price to confirm either of the above * If it continues the upward move; the next major levels of resistance could be at $250 and $257 levels based on previous resistance levels
NYSE:SQ
by BananaProtienShake
[Trade Review]How I traded $SQ, $HD HUGE FUMBLE, $TLRY, $MSFT, $In this video I will reviewing trades I took on June 29, 2021 which were $SQ, $HD, $TLRY, $MSFT, $baba Along with an explanation of my plan as well showed you guys my TA for some possible set ups! Traded these tickers using my knowledge of technical Analysis , sharing my levels: Support & Resistance , my trendlines , Fibs, Waves, Price Action, Channels , Emma's, and prior experienced , while providing both bullish & bearish scenarios for you to be able to understand my analysis and wait for confirmation as always! Want to see more content like this? Make sure to Like and Subscribe!
NYSE:SQEducation
by Raulf-m
2