PAA Break out of Declining WedgeBeen watching this for awhile. PAA Broke out out of the declining wedge, reversed right off the bottom trendline. 8EMA and 8SMA crossover as well as stochastic turned bullish.
PAA trade ideas
PAA Wedge PatternPlains All American Pipeline is forming a bullish wedge pattern. When this break out occurs (no later than June 21), expect a run to +19. With shares, that's not much of a gain, but with options this will be a huge pay off (+100-200%).
BUY Jan 17 17C 1.00
PAAPlains All American Pipeline, L.P. is a master limited partnership engaged in pipeline transport, marketing, and storage of liquefied petroleum gas and petroleum in the United States and Canada.
Healthy price action below multi-month supply.
PAA Time to take profitsIts been a great recovery week for PAA as it fell out of the bullish channel in the beginning of the month but as predicted, it has bounced back, hard! Bought Jan 26 15c for 1.10 last Friday. Currently worth 1.52 representing a 38% gain in a week. Although its been a great week, we are nearing over bought territory and want to lock in some gains. Will sell once 9 day HMA heads downwards. Will buy back after next pullback.
GL!!
PAA oil mover madnessWaiting for a pull back here and then loading up on dirt cheap $15 calls for 2025 and 2026. Price action to 18 will pay 300%. Was unable to get filled when trying to sell when it hit $16, still holding up 35%.
PAA finally made its move into profit runPAA finally broke out into its profit phase....but what does that mean from here. Honestly, I think we have another Buyers climax coming before we need to worry about a major pull back or consolidation at this level.
All the seizure induced lines you see that arent channel lines are ESVO lines. This is where price and volume meet in the middle.
So wtf does that mean w8?
*clears throat*
You're right, no need to be rude. (voices... trying to keep them at bay)
So what that means is where you see the lines consolidating at is where Price and Volume were sympatico or saw eye to eye. In other words its where Bears and bulls were kind of hanging out and having coffee and a smoke, or beer and some medicinal weed depending on what kind of bear or bull you are. I don't judge.
Anyways price and volume kind of moves harmonically, like the first week of a Honeymoon, before you set the real you out on display for life.
*clears throat*
Yes, Yes I hear you. I digress.
So price moves fluidly as volume increases price moves with it equally... Bears sell price drops almost equally in size....Bulls by price moves equally to the amount of volume coming in. This can be areas where Huge swings in the market can happen.... Breaking out of channels, mark up phases or mark down phases where 3 cycles of price movement in any one direction tend to start from these areas.
So when the ESVO.....
*clears throat* ....Seizure induced lines.... are spread out they are basically saying that there are different time frames of traders each with their own areas of harmonious areas of price to volume balances that will create a disruption to price movement as the two time frames find a common ground. Depending on how strong this group of traders is to the next and how deep in magnitude it is compared to the other will determine if:
A. they are meet with open hands and smiling faces ready to skip through fields of flowers hand in hand into the sun while.....
*clears throat*
You never let me have any fun.... or
B. Slam right into it at 70MPH across heavy 6pm traffic without any respect to the stop light that has been on for a good 10 seconds.....
I am sure you can guess what happens on B. Price halts, spins, slides in the opposite direction, possibly gets hit by another vehicle coming from a different direction, maybe 2, 3,4,5 other vehicles all from different directions.....I'm sure you are invisioning one of those multi level clover shaped turn abouts that meet a main cross road......but you get the idea... it can be the death of a move or it could send this thing into outerspace....
Normally though its more B then A.
So all of that just to say it can stop moving up.... Calm down! I am getting there.
Lets digress a few steps back here..... Back to when the Equilibrium Singularity Volume Oscillators lines are together.... now you know why I call it ESVO. Believe it or not ChatGPT helped me code this and name it after a few back and forth debates on ....
*clears throat*
Jesus! ok When the lines are together and price makes a move from underneath them to up above. It needs to find support on these lines. If the lines are all together its like a spring board and just bounces. So a temp pull back to this area before moving on.
If the lines are spread apart its like a spiders web it will still bounce out if its strong enough but there will be some energy spent on finding support. It might fall through several layers of the lines before finding the one that can support it. Think of a Jet on a Aircraft Carrier with its net out as a jet lands and hits the end of the landing zone. Sketchy!!!
But if Price action has already popped the ribbon (this is what I call it in this move because it turns inside out as price goes up and down ) and failed to stay on top once, the second time is the one that will make it 90% of the time....I haven't truly measured this but I have been using this for 3 months now and I have found this to be pretty accurate. I will devote some time to verify the actual number. If you follow me and have looked at my last 10 trades you would probably agree with me.
Now the last thing out side of failing is price can lose enough momentum when coming down to find support that the profit run turns into what looks like consolidation at this level because of the lines being spread apart and it not having enough momentum to break out of them again... which tends to mute the move and eventually causing it to drop to find another level of support with stronger hands to carry it up.
There are endless things I use the ESVO for but for this trade I will stop at that.
Where does this meet how I trade outside of this indicator?
I am a very technical outside the box trader that has spent 2 years teaching myself how to trade without any influences from the outside world. I made my own rule set for what I saw in the market. Which is what I call "the Curve" I have acquired savant syndrome which was originally diagnosed as have gaining the talent of Art after a traumatic brain injury. 1 in 227k trauma cases on the left upper back side of the head has a chance of this happening. I couldn't paint or draw a face to save my life. After the wreck I was instantly able to paint near realism. Odd but true. What I have found is that I see and learn things in a odd way visually able to gain knowledge or insight into things I have no idea about instantly. When I looked at the market 15 years ago, I couldn't trade a demo account to be positive if my life depended on it. When I looked at it for the first time after my wreck I saw what I call the curve. Which I instantly said that is the pattern of institutional trading. I didnn't even know what that meant when I said it. I actually had to look it up. That's what dragged me into the market.
I call it divine intervention. -emotional side
Or
Is it a different parallel version of myself that already trades and this part of my brain no one has access to unlocks the bridge to the knowledge another version of me already has? -Logical side of me
Either way I see things differently now.
again I digress... After teaching myself for 12-14 hrs a day for two years (because I became a shut in after my wreck as I didn't have insurance to help at the time -inbetween jobs just moved to new bigger city)- and had no one to say hey you should go see this or go talk to this person. or hey w8 you have a few screws loose.... So I painted all hours of the day and night and traded or charted the market the rest.
They call this a growth phase. Where you take in and focus on yourself and grow at an accelerated state. anyways....After coming up with my own rule set I wanted to see who trades like me so I can grow and adapt to what is probably a lot more technical than my visual style of trading. I found wyckoff method of trading. The Curve fit prefectly in this. Now I had a technical way to explain how I traded visually. I thought I was invincible until I blew $4k on a futures acct. BTW if you have never blown an account either you are like the chosen one who shall dominate the market and take over the world......or you just haven't gotten there yet in your path. But I feel this is needed to 1. create a sense of gravity and bring your ego back in check. 2. to identify your Greed and the need to gain control of it.
I didn't know that I had this monster....because I was a narcistic prick before my wreck and well yeah Greed was a driving force in my success before my wreck.
So i needed to numb my emotions, which I am driven by emotions or was.... Before I would make decisions off my passion and emotions. True sith for real! However, like everything else the Universe will find balance. Now when i make a trade I try to remain very logical about everything and look for reasons why it wont work on several timelines so I can at least anticipate what will and can happen.
I know I went on a tangent there but I feel its important that if you like the way I trade or find any of it intriguing that you understand where I come from , how I got here, what is going on in my head, why I say what I say or see what I see.
I love to chart, so please ask me to chart something. A chart is a chart, so it doesn't matter what you trade I can chart it.
Back to how the ESVO works with how I trade on just this kind of move where price moves above the ribbon.
This is where the Mark up phase starts when the lines are tight together and price moves above it. Its also the part of the Master Pattern (another wyckoff spin off which is heavily used in forex...ewww) in the master pattern this is where price has oscillated and expanded away from the control box(called expansion arms) and then solidified on a trend (called trend phase) so basically two control boxes are made high and low and price bounces and respects both boxes until it breaks out. This is the mark up phase or mark down phase in wyckoff. This can happen on every time frame. So that's why I start large on something at least a weekly if not longer. But then go backwards down to a 15 min to find confluence on same move happening before I make my trade.
On this trade it was confluent all the way back no confusion. The lower time frames are probably over bought at this point on the RSI and Stochs. Which is normal and you will see them pull back to find support so that the Larger time frames don't have too. Larger time frames can have large moving candles that just keep going up before they break into consolidation....meanwhile all the timeframes below it are accumulating and re accumulating, distributing and redistributing.
Which is another way I trade. I have always been fascinated with the fractal part of the market. I have been fortunate to witness several massive moves in futures that spanned 3-5 days where every time frame was on the exact same move and then almost pauses...until the last timeframe also the smallest catches up and passes the other timeframes and starts leading the move. Being followed by each time frame going from smallest to largest in order. Each time a time frame would cross this threshold a surge of pressure in the direction of the move would hit and price would jump forward. In my situations they were shorts and price would jump down .05 , .10 , .25, .50, 1.00 , 1.35, 2.25 so on and so forth... it was amazing and scary at the same time.
The reason I line up the higher to the lower is because the higher can be saying Bullish but the lower could be saying hey I have too much supply and need to absorb this before I can go up. Or I need to find support before I am confident I can go up. So instead of saying hey jump in on this and making you wait a week.... which has happened recently...I added this in to help alleviate that.
*clears throat*
I hear you! Yes I know that was long, shut your face! I am the one in control here...... i hope
if you find any of this amusing and/or intriguing pls follow and like... Most of all boost ( pssst...... hey its free, trust me.) *Clears throat* Sorry ignore him. Boost helps others find me and pushes this back out there each time... I can make videos of trades but I won't do that unless its requested or I can get enough boosts to my ideas that deems someone is actually watching.
Thanks for taking the time, sorry so long.
by iCantw84it
05.19.23
Plains All American Pipeline LPPlains All American Pipeline, L.P. is a midstream service provider. It owns a network of pipeline transportation, storage, and gathering assets in key crude oil and natural gas liquids producing basins and transportation. The stock is listed on the Nasdaq Stock Exchange.
From the chart, one observes that the price has formed a year-long horizontal boundary of resistance around the $12.25 level that has been tested several times. A daily close above $12.60 levels will confirm the breakout with a possible chart pattern price target around the $15.40 level.
Ascending Triangle on PAA?After a long trend downward and a continuation from the previous symmetrical triangle, what will PAA do with the next triangle?
PAA analysis 📊potential dip to 9.67-9.11 before a bounce on paa will see a rally to 12+ if trend resistance breaks
neutral until resistance or support breaks✅PAA has been stuck between local support and extreme resistance for a whole year, could be a good stock for scalping.
But besides that I see no reason to expect any sudden breakout or dumps. We most likely see sideways action again this year.
like and follow for more 💘
Plains All American Pipeline has hit a ditch. PAAC Wave of flat. Down we go.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
PAA looks to be going to 15.8PAA is the largest pipeline used by the west coast in northern america. With the commodities/inflation trade in full force this looks to be headed for $15.80.
Decent Dividend with some Upside Potential. <PAA> Fundamentally sound Co.
Good Net Income growth.
Plains should be able to free cash flow their way to a $1Bil cash position this Year. (Debt Reduction/Lessen Leverage/Share Buyback???)
2.5 mil acres in the Permian.
Long Haul Pipes are contracted out 5 years at 70% utilization.
Dividend is North of 7% ... (One could buy the shares on Juice and prolly have a Positive cost of carry ...)
Technically
I like the cup and handle on the 4 hr. (that's what I Trade...)
Regress to the mean of the Channel. Break through $10 and we might be on to something....
I think you can feel comfortable buying it below 10.
15$ a share is a fair price to Exchange hands. (That's 50% from $10 for those of you keeping score...)
Above that some resistance at 16 and again at 18 handles.
Downside of $4 to recent 5ish Lows and I think you have a 3:1 profit profile at $22 from these levels.
I see the Stock at Pre-Covid Prices in the 20s maybe 25ish over the next 3 Q's.
If it takes 18 mos ... to get to $20 that's a double and the 7% dividend pays me to be Patient...
PLANS ALL AMERICAN PIPELINE LP idea DailyHey my friends, PLANS ALL AMERICAN PIPELINE LP is in a bullish push with a large hammer candle shape and a continuation of negotiated buy volume. The TIMEFRAME M1 makes us notice a shooting star with a fake return of sales volume exchanged, it is heading towards its last low point. What corresponds to a filling of a gap of rising rutpure make its reversal to retest the base of the bollinger and come to check the top of the zone of consolidation.
Great possibility of breaking out the price then then the zone to go in the one above and put on the top which follows. Two resistance to yield (on TIMEFRAME H1) before breaking out a consolidation zone. But not enough buying power for this scenario because of the breakout of the intermediate median of ANDREWS PITCHFORK.
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$PAA - A Trade IDEA! Plains All American Pipeline, L.P. PAA reported fourth-quarter 2020 adjusted net income of 29 cents per unit, which missed the Zacks Consensus Estimate of 31 cents by 6.5%. Also, the bottom line declined 54% from the year-ago quarter’s figure.
I have done some Fundamental along with technical analysis.
The company has a bit dissapointed fundamentals.
However; when it comes to technicals it is a very nice BUY.
Let's see how it is going to react in these coming couple of days.
