DRiddick43

DRiddick43

First trade after taking a long break so i may be rusty or not. My bigger trade will be this Symmetrical triangle on the daily timeframe. Here I believe that we are in the last part of the wave or the second to last. Mind you this is on ES.

DRiddick43

I want to add SQ to my watchlist for this week. Looks very interesting inverse head and shoulders. Just something to keep in mind. I also seen this on twitter so this is just my version of their idea.

DRiddick43

Nice head and shoulders pattern forming so expect up and down movement these next couple weeks or so. I will say to just play it day by day and the swing longterm puts when the shoulder is complete.

DRiddick43

Bullish expanding Triangle on the weekly and daily timeframe. LONGTERM PLAY. Will post a 4hr time frame chart to show levels.

DRiddick43 Updated 

I promised an update on a more clear direction and well heres what I see for now. This pattern is known as the Bearish Symmetrical Triangle and pretty much goes as follows. A failure on this would be a break above where pt 5 is at.

DRiddick43

Looks pretty interesting if you ask me Id recommend to not fall for the trap

DRiddick43 Updated 

Here's an interesting take on it, TBH it could absolutely just drop but considering what day it is today i feel that a bullish movement is more than likely today.

DRiddick43 Updated 

Just a thought here, look at the head and shoulders prior... look familiar right just you know upside down i see. Rally is inevitable, PAY ATTENTION then we can short again. Feel free to check my previous NFLX TA for the update on that.

DRiddick43 Updated 

Okay ill be honest there are several ways that this could play out so ill give a brief summary of all possibilities: 1) Daily rising wedge(Blue Line) along with a daily gap to fill (white box) 2)Mid Size rising wedge (White Line is the bottom) Most important ones to watch short term is the gap fill on the daily and if break below bot the big and ,id size rising...

DRiddick43 Updated 

Summary: We are still fresh out of the rising wedge so i believe more downside is still yet to come, however a retest is in order for another leg down to come. Demand zones at the red boxes and 4H resistance is the yellow line. Ultimately the 385 and a possibility towards 388.5. From there a break into the demand zone with a possible gap fill or it rejects at one...

DRiddick43 Updated 

Only thing major that's worth mentioning is the Symmetrical Triangle on the weekly and the daily time frames. Other than that the rest is the 1hr-4hr demand and supply zones. Depends on when i see a break out or a break under for the triangle will determine my position on it, for now neutral.

DRiddick43 Updated 

Tesla has been on a continuous downtrend because Elon news but also because of his continuous selling of his shares which is now in the 3 billions. However recently Cathy has bought tons of shares, mostly like will have a short term bounce because of it. Another note to mark is that we are bouncing from inside the 4hr demand zone which can mean that it was a weak...

DRiddick43 Updated 

The h pattern is a pretty common pattern and noticing it early on is perfect. I’m not 100% as it’s already showing some rejection but all it needs is a little push and once that happens and it breaks . Game over

DRiddick43

Cant just ignore the possibility of an Inverse Head and Shoulders that could happen, a stretch maybe but it all depends on the overall market.

DRiddick43 Updated 

Now now before you count this possible head and shoulders out I will ask for you to take a look at the Daily first. Double top am I right, now this is a longer time frame so bulls be careful on what's to come.

DRiddick43

Now there are two options on what can exactly happen here but one thing I know forsue is that a breakout is coming either to the downside or upside. I personally wouldn't make any moves on it until the setup is complete.

DRiddick43 Updated 

Mark my words , we heading under to touch the demand zones which is right above 390 and below it.

DRiddick43 Updated 

I mean this is just textbook analysis, but for those that dont know this is the most simple rising wedge i have seen, I personally would say that nflx has one more leg up before a break below the wedge. I will keep tracking it. Again this is the DAILY chart so dont screw yourselves.