1020 trade ideas
BUY 1020Dear saudi traders, you can see on the chart that the price just pulled back on the support we have on 17.62 level and gave us the confirmation to buy it following the volume.
You can but it in Sunday's trading session.
Please let me know the markets you want me to analyze for you in the comment section!
Analysis: two situations: Bearish ChannelWe will have a downtrend continuity if we have the breakout with force the support line by a big red candle with a large red volume. In other hand, we could have a big probability of buying if we have the breakout with force the vwap indicator and the resistance line by a big green candle with a large green volume. Thanks.
Case of trading range: Two situationsOn this stock we have two possibilities of analysis:
1- We can buy if we have the breakout with force the resistance line by a big green candle with a large green volume;
2- We can sell if we have the breakout with force the two support lines by a big red candle with a large red volume.
Thanks.
1020 : JAZIRA BANK (a successful trade)We love to show one of our successful trades that have :
1- Performed to targets
2- Within the time frame
3- Tight stop loss (Risk-to-Reward > 10)
4- Confirm our hypothesis about TASI and the major macro trend pull
5- Confirm our approach to trading based on volatility funnels developed by Francis Hunt.
Here is the story,
The chart have been spotted first by one of ours when broke to the 15 SAR in March of 2021 showing high potential for the underlying micro trend to perform.
After we made our analysis, both price targets and time limits have been set on the chart and we entered the trade. The price shot 20 SAR in matter of weeks. But after it took 6 months at around 18 SAR from May to Dec of 2021.
During this time we added more positions and although it was painful to set and wait, the chart never made our stop loss or go beyond the time limit. So we waited .. and waited.
In January of 2022 the price started to move upward and to meet our intermediate target at 27 SAR. We took some profit making us (+44%) for the positioned we added during that long accumulation. But the move is not over yet.
We still have two months to go based on our time analysis and we expect to reach 30 SAR before resting for extended period of time. Hopefully another accumulation that will send the price soaring at 60 SAR. But this is early to say.
We in sharing this, want to spread optimism about TASI : TADAWUL and the Saudi Stock Market. Because we believe if you can find these kind of trades that make you double your money in the span of a year why do you have to trade abroad??
Best,
FBH
(1020) ALJAZIRA BANK Promising TADAWUL:1020 has just entered a decisive area (green area) .
I recommend to wait for a break of that area , that would be a high probability buy signal targeting the 1st target area .
There is a good potential to reach the second target area too if we do close above the 1st target area .
Right now the bullish momentum is slowing down a little so it is possible price returns to around the (22.8) level before breaking above the green area .
If price fails to break above the green area , then a return to the black area would be possible , and would represent a potential buy area.