Simple doulble top from the S&P 500 Index. The index broke 2 bullish trend lines. I am waiting to see what happens on the current support level. Would be a nice shorting opportunity if the support doesn't hold.
Use risk management as always.
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A symmetrical triangle formation. Market just opened very strong below the bullish trend line.
Position opened today (with the break of the bullish trend line). Stop loss is at a previous support level inside of the triangle.
Use risk management as always.
Thank you for reading.
Previous resistance line is being tested as a support line. Price action is also moving closer to the bullish trend line. Break of both lines would be a good sign to short.
Use risk management as always.
Thank you for reading.
Ascending triangle with resistance based on past support line.
Long when price closes above the resistance line. Stop loss when price closes below the bullish trend line.
Use risk management as always.
Thank you for reading.
Graph is cluttered, however the chaos can be easily explained. First, let’s start with the symmetrical triangle inside of the ascending triangle. After the drop in March price started to consolidate on a previously well know resistance area and converted into the symmetrical triangle leading to a break out of the bearish trend line. However the previous year set a...
Symmetrical triangle formation with 2 touches on bearish and bullish trend line. Short when price rebounds froms the bearish trend line. Stop loss when price closes above the bearish trend line.
Use risk management as always.
Thank you for reading.
Ascending triangle with two confirmed points on the resistance line. Bounce off of the current bullish trend line would be confirmation of the moment to start the long position. Stop loss would be a close below the bullish trend line.
Use risk management as always.
Thank you for reading.
Well tested support on INTC. Price in the past had a tendency to stay within a zone before break out.
Long after bounce back of trend line (already occured). Stop loss would be the previous low created by a gap.
Use risk management as always.
Thank you for reading.
A steep broarding wedge. I will wait until price gets more near to a know level before posting a position. I am bullish on the stock IF it shows rebound at the $325 level and tries to retest the bearish trend line.
Use risk management as always.
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Nice habit of forming solid support lines with the price action finding new highs after a bullish trend line starts to form. I wouldn’t be suprised if a new bullish trend line starts to form with a breakout of current resistance in the coming months.
Long on rebound of support line. Stop loss loss is break of current lowest support.
Use risk management as...
This is not a position. I noticed the four prevaliant drops on the graph and decided to lightly draw comparisons. It would not surprise me if price stayed within the current green box. I would keep an eye out if the price drops below the prevalent resistance line.
Use risk management as always.
Thank you for reading.
Head and shoulders formation on daily chart. Expecting price action to return to bullish trend line for a retest. Break of current support would be a good confirmation of the movement.
Use risk management as always.
Thank you for reading.
