Look for multiple touches that acts as a support AND resistance. Then create a plan. Think: If this, then that. If orange trend breaks, then we move to blue trend. If orange trend holds, then we see red trend retest.
TSLA daily looks to be forming a huge support at the yellow line. PA is getting tighter. Could be a bottom here and see a move to 260 region
larger TF - HUGE rising wedge in the works Break of 3869 id look for calls
$spy falling wedge to support Levels included SL PT ENTRY
SPY Bull vs Bear case Green - bull case falling wedge Red - Break of wedge - retest with a bear flag - gap fill below - overall downtrend
New cheat sheet template on Reversal patterns and continuation patterns. Entry, SL, and PT have all been included. I have also included must follow rules and how to use the BT Dashboard.
Click the 3 dots on the bottom right and hit "Make it Mine" rising wedge on TSLA
$TSLA Daily falling wedge. Putting in a hammer candle here right off old resistance as well as holding the .5 Fib. The Risk/ Reward here is absolutely worth it to go long.
Ready for its next leg up over 106.86 Nice falling wedge with a bounce off old res as new support
Breakout and a retest making old resistance a new support. Wave 2 pullback to the .5 as well. Over 61,279 we should see a move to the 67k region for a wave 3.
$GM Nice move today as planned! Broke through the 55.29 level and rejected where expected. A bounce off .236/.382 here is what i'm looking for before a wave 5 breakout!
$MSFT rejected the 233 level again today. Major resistance that needs to break. $QQQ is definitely holding this back. I love the setup here and would like to see a bounce off the .618/.786 for a wave 3 to the upside!
$TGT breaking through my 174 entry today. If we can bounce off the 176.90 level, I expect to see more upside!
$QQQ Looking extremely bearish. Fell below the $300 level today. If this cant reclaim $300 asap, my PT is $280
$SPY Update. If we start to see some downside here, my wave 3 PT is $370 and wave 5 PT is $352. If we reach $352, we could then see a potential reversal as that is the large-scale .382 for wave 2-3(White Primary).
$XOM Leap play that I am in Huge block orders were coming in with some great long term UOA as well as very bullish inside buys. Loved the chart and figured money would start to transfer out of treasury bonds due to high rates and into blue chip dividend stocks.
Still looking good here as we're holding support. Waiting for that move over 130 to go long.