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COST, Another clean short set up !COST is offering another clean short set up. After proposing a beautiful and profitable Quasimodo pattern , COST reached to our first proposed take profit target ( See Related idea for details). After hitting our target , COST started a rally which is beautifully an abc form of counter trend correction . This abc form counter trend correction hit 0.618 retracement level of previous decline . Mentioned previous decline which was our short position is beautifully 12345 leg down therefore in terms of Elliott waves, every thing is it's right place to go short. Moreover, stochastic indicator is in overbought zone in daily time frame which may be a good signal for possible trend reversal. Please note two cluster of Fibonacci levels can be seen on the chart. COST has reacted well to first cluster which also nicely coincides with down trend line shown on the chart. This down trend line is a valid one since it has 3 rejection in it's history and yesterday hit might be the 4th rejection. Trade set up and information were also added to the chart. Please note that besides all these bearish evidences , our proposed set up may not go well therefore I kindly ask you to set stop loss carefully . As explained on the chart, if you can tolerate more risk it may be a good idea to set stop loss higher at 565 USD. Our take profit targets show our Reward to Risk Ratio is extremely high so I think it is good to take the risk. Good luck and wish you continuous profit.
NASDAQ:COSTShort
by SaeedSajedi
5
NVDA, What is most likely future path ?Mighty NVDA reacted strongly to our first proposed support and first large down going wave might have been completed. As shown on the chart , Major down going wave from ATH to last major low can be labeled as 5 leg down 12345 with wave 4 as inverted flat ( See related idea for details). Confirmation for completion of wave A is a trade above labeled wave 4 high and in this case we are now in wave B which is a great profitable counter trend correction to the major decline from ATH. If true , What are major resistances on the NVDA's road map? I showed less strong static resistances with orange while more strong ones were shown by red. Red static resistances coincide with 0.382 and 0.5 retracement levels of major decline from ATH . This makes these resistances important and noticeable. Moreover, 50 and 100 weeks moving averages coincide with 0.382 retracement level which makes this resistance even stronger therefore and for now, we should consider 195 to 208 USD resistance zone as a really important strong resistance area. Please note counter trend corrections normally have 3 legs and NVDA is still in first leg which shows NVDA still has much room to go up if we are truly in wave B. It is wise to keep in mind that before taking wave 4 out, there is chance for this rally to be just counter trend correction of what has been labeled as wave 5. while we are very close to NVDA's earning report, stochastic indicator is in overbought zone and please note time frame of chart is weekly therefore upcoming ER has very strong impact on future path of the stock. In this proposed scenario, entire correction of NVDA will end around 70 USD after completion of 2nd large down going wave which has been shown as possible wave C with dashed arrow on the chart. Although I showed this possibility on the chart, it is too soon to talk about it especially in detail. If necessary, we will come back and make our updates in appropriate time . Please do not hesitate to ask questions . Wish you success and profits.
NASDAQ:NVDA
by SaeedSajedi
9
Market is GREAT- (if you are used to Taking Profits)Lat year I was Top Author on Cardano from 20 cents to 3$... I am actually going back to Cardano as you will see in my next post. Since June I had been posting about MATIC (first posts was on June 22). Matic from 34cents to a target hit at 1,27$. Almost 4 times the investment, so i guess it was a great trade. Can we buy again? Well yes it's on support but again: wait for the Cardano post coming up. Market will go up and down, FTMs and Lunas will arise , Don Kwons and Sam Bankmans will rise and fall but at the end of the day we are traders so: - Fundamental analysis will help us identify the 'good ones' to buy - Fundamental analysis will help us find the 'bad ones' to avoid (or short) - Technical analysis will give us entry levels to enter - Then it's a matter of taking profit on Time (best habit in this market) Market is cycles... get used to it, market is just GREAT! One Love, the FXPROFESSOR ps. new market cycle is on. For me is Cardano time now, wait for the chart
MLong
by FX_Professor
4
💲Amount of Return Necessary to Restore to Original Equity Value💲In today's educational post, I would like to share with you a post on: Amount of Return Necessary to Restore to Original Equity Value 10% - 11.1% 20% - 25% 30% - 42.85% 40% - 66.66% 50% - 100% 60% - 150% 70% - 233% 80% - 400% 90% - 900% 100% - ☠️ 💲Remember, never risk more than 0.5%-2% of your capital on one positions 💲Never lose money you can't lose 💲Take care of yourself and your capital <3
INDEX:BTCUSDEducation
by InvestMate
5
COST, Bearish Quasimodo pattern is beautifully forming !COST is showing nicely a very popular price action Quasimodo pattern . Quasimodo pattern is also called Over-Under pattern. It is simply formed by series of Highs and lows as shown on the chart. Sell zone (568-571 USD) was shown on the chart for COST. In addition to strong static resistance of pattern we also have 0.786 Retracement level of the last major decline in this zone. Moreover, Pull back to broken up trend line might be completed at mentioned Sell zone. It is also worth to note, All indicators will be extremely overbought if COST can reach to shown sell zone. As Quasimodo pattern has been proved to be of high probability success , we certainly keep COST in our short watch list but do not jump into trade blindly. As always we need a reversal trigger at sell zone to open our position . Take profit targets are also shown on the chart by green lines. The reference of the inserted picture was shown on the chart . You can find many other pics and examples simply by googling " Quasimodo pattern ". Good luck everybody.
NASDAQ:COST
by SaeedSajedi
27
short trade opportunity on BTCAfter the CPI data publications BTC returning to its previous price range trading in low volumes and small price changes. This price instability can be premonition of a possible continuation of the downtrend momentum. Based on Fibonacci Extension, traders may look for further downside potential, thus aiming to lower price levels before CPI announcement. For these reasons, we suggest the following: ENTRY PRICE: $19952 1^TARGET PRICE: $19193 2^TARGET PRICE: $18767
BINANCE:BTCUSDShort
by vf_investment
4
Bitcoin support/resistance levels and zones in daily timeframeBitcoin is in a decisional zone and as show in the chart, the main supply and demand zones in daily timeframe are 17600 as support and 24260 as resistance . these zones are accompanies with a " Price Inefficiency " or as you might have heard " Fair Value Gap ". please refer to the ideas chart to check the zones. basically waiting for each of these zones to be broken and to be accompanied with a pullback to that zone is the most logical strategy at the time being. the zone which is broken can also work as a stoploss in case of an entry. for the sake of listing a possible strategy: wait for the any of the above mentioned zones to be broken with a candle body not a shadow. wait for the pullback for entry. set a stop loss on top of the broken zone in case of a short position or on the bottom of the broken zone in case of a long position. calculate you position volume based on the stop loss and your risk tolerance. having a clear strategy and patience is the key to the game.
by Thinkologist