ADBE trade ideas
Adobe Deathcross DailyThere seems to be some discrepency regarding the nature of the rising broadening wedge, with some thinking its bullish while others bearish. I believe it is bearish, following Bulkowski's chart pattern rules. Short should be placed just under or above 200DMA if deathcross follows through. For a rising broadening wedge to be valid three or more touches must be evident at resistance and support lines.
ADBE - tested trendline and reboundingS&P 500 is still staying put above 2300 critical support. I know it' s crazy scary now and volatility is just so great but I am willing to start nibbling when I see this. Stop loss below today's low by a few ticks and looking to protect profits with trailing stops . Trade carefully!
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.
THE WEEK AHEAD: ADBE, ORCL EARNINGS; GDX/GDXJ, USO/XOP/XLE, EWZEARNINGS:
ADBE (89/65) and ORCL (77/60) both announce earnings on Thursday after market close and have the metrics I look for in earnings-related volatility contraction plays (>70% rank; >50% 30-day implied).
Pictured here: a short strangle paying 11.65 at the mid price camped out around the 16 delta. Its defined risk counterpart: the 265/275/395/405 ten-wide iron condor pays 2.46. Off hours markets are showing wide, so look to price setups out during the regular session.
The delta neutral ORCL April 17th 40/55 short strangle pays 1.45.
EXCHANGE-TRADED FUNDS WITH EXPIRY IN WHICH THE AT-THE-MONEY SHORT STRADDLE PAYS >10% OF THE STOCK PRICE:
GDX (99/51), April
USO (97/66), April
GDXJ (96/58), April
XLE (97/75), April
EWZ (92/52), April
XOP (92/51), April
TLT (91/41), May
EWW (91/48), April
XLU (90/43), June
SMH (84/56), April
FXI (65/33), June
BROAD MARKET WITH EXPIRY IN WHICH THE AT-THE-MONEY SHORT STRADDLE PAYS >10% OF THE STOCK PRICE:
EFA (87/37), June
QQQ (83/43), April
IWM (82/46), May
SPY (78/41), May
EEM (70/37), June
FUTURES:
/CL (97/65)
/GC (84/25)
/SI (70/30)
/NG (65/48)
/ZS (30/19)
/ZC (21/22)
/ZW (13/27)
VIX/VIX DERIVATIVES:
VIX finished the week at 41.94, so it has been a rough ride for shorters who were in plays before this volatility expansion (points to self). The basic watch word is "patience"; volatility will abate at some point in time ... .
Short ADBE3M and MN is overextended, WK is correcting with a strong SZ created. Similarly D1 has a strong SZ created within the WK zone.
3M shooting star bearish confluence.
Bounce after entry signalUsage of SMA 50 and 200 to recognize best timing and optimal risk/reward ratio
ADBE My overbought screen keeps pulling up ADBE, today is the day I am taking an attempt at the short. Either it pushes harder into earnings in March, but this chart is saying it will take a break back into the $350's over the next week.
Buy medium term with ADBEMy strategy is to combine several techniques at once:
+ Price channel and trend line: help me identify the direction of the price,
+ Supply - demand: help me identify the reversal position,
+ Elliott wave: help me determine the cycle of price,
+ Candlestick pattern and price action: Help me correct the position to the order.
...
Wait for a retest and long-term purchase of ADBE (weekly candle)My strategy is to combine several techniques at once:
+ Price channel and trend line: help me identify the direction of the price,
+ Supply - demand: help me identify the reversal position,
+ Elliott wave: help me determine the cycle of price,
+ Candlestick pattern and price action: Help me correct the position to the order.
...
Adobe - AB=CD pattern - short - 52 week high - OBAdobe looks in great shape to short on the 4 hour (or daily chart) - just wait for a solid and simple entry reason as all the confirmations (so far) for a good short are apparent.
As always I wish you success, happiness & good luck!
Comments always welcome.
$ADBE bullish trade setup executed for 100% gains!ADBE has been on a great run since December but it looks like it is on the last leg of this run as it overbought on multiple indicators whilst near resistance. We secured 100% gains by playing some call options in this run. WIll be watching what it does next week.
$ADBE Long trade entry for Adobe into EarningsAll time high very possible tonight for ADBE as earnings are anticipated to be great.
Dependent on market conditions today entry at approx $ 306 with major resistance level $311.
