ARKKARKK having a potential inverse H&S pattern. If ARKK fills the gaps at 114 and bounces we can see it rally and breakout. A break above 125.74 can take it all the way to 140 level and potentially fill the gap above.
ARKK trade ideas
Pending setup on ARKK based on Historical BehaviourToday we will share a pending setup we have on The ARKK Innovation ETF managed by Cathie Wood. Another great asset in terms of technical behavior.
What's the key idea of this setup?
-Once we have a CLEAR correction, EXAMPLE: a formation with more than 150 days or a significant drop in the price like 2020. We draw the MOST external trendline using Higher lows; the idea is that any candlestick must not be visible above that line. Ok, once the price makes the first breakout of that line, we wait for a small corrective pattern, which can be something like 3 days or more than 15 days.
IF that happens, we trade above that correction with a stop loss below it and a take profit level at 2.5 Risk to Reward ratio. In the following picture, you can see the historical result of this strategy, EVEN in situations that we should NOT have entered. (we use a stop loss of 150USD as an example on every setup)
Alright, so is this setup going to be a take-profit? I DONT F@%#ING now. And honestly, I don't care about the specific result of it. The only thing I know is that I'm executing a setup under a strategy that I have a clear edge over, so I don't know the result of the next setup. However, I'm certain that the result of the next 10 setups will have a positive edge.
The risk I will be taking on this setup is 2% of my capital on the stop loss. That means that if everything goes wrong, I will lose 2% of my capital. The duration of this setup can be between 20 to 45 days.
Thanks for reading! Feel free to add any comment or idea.
Huge LONG$ARKK will be approaching $100 in the near future. Strong trend, I mean VERY VERY STRONG trend. Fundamentals are healthy too.
Looking to out perform SPY once again.
Active ETF's > Passive ETF's
Cathie Wood is the truth!
ARKK 1D - Golden Cross Coming UpARK Innovation ETF (ARKK) led by Cathie Wood is shown a possible near break of the triangle with a possible golden cross on the MA coming up very soon. I plotted fib levels to see how I we can possibly go. There has been consolidation since March 2021. It seems that a breakout is coming very soon.
What are your opinions on this? Comment below, hit the like and follow me. Thank you!
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Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
$ARKK - wave 2 dip buy soonARKK appears to have put in a 5 wave move from its wave 2 lows on oct 5. Expect 3 waves down to 115 area for a BTD spot. ATH's coming, likely next year Q1 or Q2. Buy time on that dip.
This might get wrecked tomorrow if Elon is selling 10% of his stake in tesla, so it could spark a deeper retracement, but 3 waves down will be a buy!
Side note: 3 waves down on Tsla is going to be a buy as well!
The shit show that cathy runs. This cathy chic bought zillow and sold it the next day , thinks tesla is worth 3000$ . It's my fantasy to make money off this girl. Tight stop loss , RR 3:1.
Closing (IRA): ARKK November 19th 104 Short Puts... for a .22/contract debit.
Comments: Collected a total of 5.02 in credits (See Post Below); out here for .22. 4.80 ($480) profit/contract.
ARKK Broke up channelARKK the popular etf of cathie woods, I personally love ARKK and tbh the TA tells me that we’re going up, we broke channel, we now trailing on trend line all the way up, I do believe that we will reach to $137 and I think as soon as the market opens I’ll take the trade with stop loss below the channel trend lines, of course must wait for indicators confirmation. That’s it guys keep it simple.
Opening: ARKK December 17th 106/135 Short Strangle... for a 3.04 credit.
Comments: Venturing back out into margin account trading land with this delta neutral short strangle in the December monthly camped out at the 18 delta strikes. This results in 2x expected move break evens at 102.96 and 138.05.
3.04 credit on buying power effect of 12.11; 25.1% ROC at max as a function of buying power effect; 12.6% ROC at 50% max. Will look to take profit at 50% max and/or manage sides on approaching worthless or side test.
Closing (IRA): ARKK November 19th 100 Short Put... for a .26 debit.
Comments: In for 2.09 (See Post Below), out for .26 here, 1.83 ($183) profit.
ARKK 200d MA crossoverARKK has found support below its 200d moving average and now is poised to break back up the upside
Massive bullflag on ARKK?Massive bull flag on the ARK Innovation ETF? I'm increasing my holdings here
ARKK - MA200 resistanceTo me the only question is whether we break 123$ which is the upper bound and also coincides with MA200 line. Only once we pass MA200, I can have the confidence of bullish trend back on.
Can ARKK Break out of resistance level 1?ARKK has been taking a beating in 2021 after a superior outperformance in 2020. Tracking this triangulation pattern before the ETF makes another move higher targeting the 157 upside
ARKK - Overhead Resistance Likely To Keep Bulls At BayIt was a pretty solid battle throughout the summer with the lower range of $114.50-$115.50 doing a solid job of keeping prices moving sideways. That changed back on Sep 28th. The rally underway presently is likely to find RESISTANCE at that well-worn support NOW resistance level.
Sell rallies.
Understanding Support and Resistance Levels
Remember, the more informed and objective we can be with numbers, the more confident we can be with our trades. That’s important because, although price action is random (a fact that has been proven time and time again), there are repeatable patterns we can use to get an edge.
Two of those objective data points we can use to gain an edge are support and resistance levels. These are two of the best tools we have when it comes to swing trading. Why? Because they give us strong data points that suggest where an instrument is likely (and unlikely) to go.
But this is really key: Arbitrarily cataloging each price level that appears to be relevant as a support or resistance level isn’t going to get you far. That’s why Aspen Trading takes a unique approach to support and resistance levels.
With Aspen’s Support & Resistance Levels, we measure where trades (prices) occur in terms of frequency. This gives us a sense of where market participants are wagering prices may go.
That’s about as raw and unfiltered as you can get in terms of displaying what has taken place. There’s no room for interpretation - this is raw data that can be used to get a sense of where prices may be heading.
$ARKK - Has broken trend lineAfter some consolidation and selling pressure, ARKK has broken to the upside and has broken through a trend line. I would wait for a re-test of this trend line and then go long $ARKK.
ARKK bullish - wave 3 of (5) startedWe have entered the final wave (5) of the impulse from the start of the EFT
Expected target 200-250 mid 2022. By then expect a significant drop
TrendyCharts: ARKK Inverse H&SThe bigger picture shows a wedge with price at the bottom range. We've got two confluence patterns here
Inverse Head and Shoulders
Break of trendline
PT right before supply.
$ARKK expecting another leg downSince July, ARKK has been trading sideways in the consolidation/distribution zone with no unusual volume for about 2 months. End of September we are seeing increasing volume activity to the downside.
i believe it's going on wave 3 and downside target should be around 99.80-100.
Oct 7 seeing the retracement up and hit a resistance level (~113) which is the blue zone area.
ARK Innovation ETF (ARKK) • Signs of weakness still in placeARKK currently in a no-man's land. But there are some signs of weakness showing up.
It looks like it is better to stay out of ARKK for now.
Next major supports around 95 and 70. Confluence between monthly opens and 50% retrace levels.
