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1CRM trade ideas

Channel down Cup and HandleCup is forming, but has done so before and failed during this channel down. I am watching this one closely and will update when channel line is broken. If you are watching this and I forget, please remind me. (o: I have a whopping one share to eyeball this. If I felt totally confident, I would have more. CRM has failed at the channel upper trendline a few times. CRM broke up from a bearish rising wedge when it entered the DOW< doing well short term, yet sealit a long drop in the long term. Best we can do is enter close to support. Like a triangle, or a rectangle, after a certain amount of tries, the security will break one way or the other. There should be strong gap support. Will she stay or will she go? No recommendation. The only thing that never changes is change
NYSE:CRM
by lauralea
2
Salesforce. CRM. Reverse Engineering a Decision.I went long a 240 call option earlier this week on a total gut play, and it turned out to be my best trade. Now I'm reviewing to get some positivity in to start the weekend, and maybe put into trader language what my gut was seeing. Key things I notice about the trade: Non-Indicator elements noticed: - It had nice bounce off the most easily visible liquidity zone. - It had a TLB from the February high. - It had a break of resistance ceiling and follow through. Maybe the stacking of these three elements is what led to the push through what could be viewed as the middle territory. Indicator elements noticed: - At the placement of the trade the indicators were saying it was a terrible decision. At least, from the Daily viewpoint. - The RSI proved pretty useless in this example. - The Stochastic crossover would have provided a nice entry. At the end of the day, there is no other way to classify a gut play than gambling, which is unfortunate, because it was my best trade of the week and now I'm having potentially unsustainable habits reinforced. Maybe I can find some way to confluence these ideas moving forward.
NYSE:CRMLong
by emehoke
Making Progress?CRM is still inside a channel down but has broken up again from another bullish falling wedge. A break from the channel down would definitely be bullish. CRM is trying to break over the 50 moving average which is bullish. The support from the gap may hold but has yet to be tested since price went over it a few days ago. CRM is making higher bottoms right now, and the recent bottom of 201.51 has not been broken. No recommendation A trader with a lot of money meets a trader with a lot of experience. The trader with experience will end up with his money, the trader with all the money will end up with an experience.
NYSE:CRM
by lauralea
3
$CRM Chart (Per Request)A follower asked about $CRM chart, so here it is. Salesforce been in a down sloping parallel channel since September of last year. If you flip to the weekly bars, the pullback looks like a bull flag after a big rally from March 2020 bottom. That said, the decline from the highs is about 30% which is a bit deep to my likings. Also, if you have been following me for a while, this type of trading is not my style. The stock is trading around the bottom of the channel, so the more probable scenario is a bounce attempt back to the upper channel boundary. A trade could be taken here with a stop below the low from few days ago.
NYSE:CRM
by TaPlot