Rsidivergence
Going to the $ 122? 🤔Ok, the RSI divergence persists, but AAPL is not giving any buy sign yet. Remember, we trade price, not indicators!
At any moment it could break the 125, and today, it lost the support around 124.
In the 4h chart we are heading to the 122, which is the place we’ll buy AAPL, to sell at 127.90, with a tight stop-loss. The more it drops, better the risk-reward ratio gets. But as I’ve been saying, probably we’ll see another chance to trade next week.
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Melissa.
Several patterns around! Which one will prevail? 👀The Nasdaq did a double top pattern today, and a strong RSI divergence, and this made the index drop again to the 13,600, the base of the range it is in.
Now, there’s a chance that it will break the 13,700 for good and hit the ATH: It must break the 13,695, as this is a pivot point + 20ma resistance.
On the other hand, we have a possible bearish scenario in the 4h chart:
The 13,700 is a good resistance for the index, and today we had a pretty big candlestick that could dictate the next steps for the tech stocks.
If the index loses the 13,602, then probably it’ll keep correcting, maybe to the 13,400 again.
So, we have a few points and strategies to use here, despite the complexity of the moment. This week might be boring, but I believe next week we’ll see some intresting stuff around.
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Melissa.
A virtually perfect trade. GL to those who are still in!Ok guys, our trade on TSLA was virtually perfect (technically speaking). You'll find the links to our last 2 analysis, when I pointed the trigger point (Friday) and the analysis we studied on Monday, if you need more details.
But I'll summarize for you. First, Tesla broke the 592, the trigger point, and we had the confirmation of an advanced breakout on the RSI as well.
Tesla did trigger the trade, and it did the pullback to the 596 as we also discussed in our last analysis, giving another chance for the late traders to buy Tesla.
Today, it hit the target we mentioned on Friday, the 626.
Tesla has more upside in the 4h chart, as it is not overbought at all, but since it just hit our target, I think it is time to book profits. It was a perfect trade, and I'll just wait for another opportunity. Also, we have a divergence on the RSI in the 30min chart, so, I don't want to take any chances here anymore. I'll hold a just a small position here, and quit most of it.
I'll keep you guys updated about Tesla.
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Melissa.
NZDJPY - Bullish Butterfly PatternA Bullish Butterfly Pattern is about to emerge, I'm waiting for the candle to touch 77.91 and retraces for a valid pattern. But for some Harmonic Pattern trader would have treated this as a Type 2 trade as the candle circled in yellow is close enough to them. It misses the completion by a pip. I'm not going to argue on that as every trader can have their own trading rules and they have their own trading decision to make. I'll still wait for the candle confirmation at 77.91.
Could it break the 592? The chart says yes!TSLA is about to break the 592, the point that could create a rally to the 626. The RSI has a very strong divergence, but we must wait for the confirmation on the price.
What's more, the divergence is also seen in the 4h chart. Tesla entered the support area, and it is doing some good patterns now. It also seems we have an advanced breakout. But again, there's nothing for us to do, but wait for the breakout! The price will tell us what to do, in the right time.
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It hit our target! But, what to do now?Ok, now we are losing momentum, and AAPL is getting weaker, and that's absolutely normal. We did a fantastic trade, but now it seem it is time for AAPL to rest a little. We'll see another entry point when the charts normalize. The RSI also tells us that AAPL is overbought.
But even considering a possible correction ahead, let's keep in mind that the bias is bullish.
We have an advamced breakout on the RSI, indicating that the price might follow this movement next. I'll keep my belief that if it breaks the 127.90 it'll seek the 131 next. In the end, it is overbought in the 30min, but still has some potential in the 4h chart. This means some possible correction in the short term, which would give opportunity to buy, aiming the 131 in the mid term. This seems to be a nice strategy for now, let's see if we'll follow it!
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Melissa.
Moving according to the plan! What should we do now?As we expected, PLTR did a lateral movement today. We identified this thanks to the RSI divergence, but right now we have some hopes that PLTR will do something good next.
We nailed the purple area, and right now it has a chance to hit it again. We have an advanced breakout on the RSI, and if PLTR breaks the 20.80 it'll confirm our bullish idea.
The 4h chart shows how strong the purple area is, as it was a previous top at 22, and it is the 61.8% fibs retracement. If PLTR breaks this resistance, the 24 is the next stop for us. Let's watch the 20.80 in the 30min chart, as this will be our lead.
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Going on a date with short-seller / Match.com I strongly believe in the company over the long term but for now i see the following
1. Income H&S
2. Exiting quarantine! people for some time will let go of phones cause they got sick of them but eventually they will return to the easiness of online-dating (cost effective/ time effective / psychologically easiness, people want to avoid pain at any cost)
3. RSI Divergence
Good risk-reward on Nasdaq!We have a good pattern on Nasdaq 100 today. In the 4h chart we see a good divergence between price and RSI, and there is almost a double bottom pattern.
We had a strong bullish candlestick close to the support level, and the risk-reward is pretty interesting now. It must not lose today's low, though. The 13.7k is the target for now.
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Melissa.
Let's watch the 592 area!Tesla is trading in a decisive point! The 592 is a strong resistance for us, and it couldn't be defeated today. At least Tesla hit the 20ma again, and it is a nice support level.
If Tesla breaks the 592 tomorrow, it might climb to the 626 next, and this would be a breakout from a pivot point, a good reversal pattern for us.
In the 4h chart we have an open gap at 733, but the bias is bearish. So, we must wait for the confirmation in the 30 min chart.
The RSI is pretty weird in the 4h chart, and we have a divergence in the 30 min, and if Tesla breaks the 592 resistance, we will see a nice trade ahead.
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Melissa.
Good movements on PLTR! What to expect next?Yes, PLTR hit our purple zone today, which is a resistance area , and it almost hit the technical target at 22. The 20ma is a cool support for us, but since PLTR is too overbought according to the RSI , we must be aware of possible corrections.
There's nothing on the charts saying PLTR will drop, but still, we must be aware of this fact.
The RSI divergence worked wonders here, and it still could hit the 22, but we might see some correction in the 30 min first. After it breaks this purple area for good, the 24 area would be the next stop for us. We'll see how to proceed tomorrow.
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Melissa.
We must watch these points from now on!PLTR is having some rest now, and the BB are getting tight again. This is normal, as the RSI was showing PLTR was too overbought in the 30 min, but there's still a lot of room for it to go higher. We have been analyzing PLTR for some time now, and it has been doing some nice technical movements.
The 4h chart has a nice RSI advanced breakout, indicating that PLTR has more fuel to burn in the next days. The 22 area is the target for it, and so far, it is going well.
Also, although it is overbought in the 30 min, it is trading above the 20ma, and it is breaking the 20ma in the 4h chart too. The 22 is a target because it is one of the previous top, and the 61.8% fibs retracement.
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Melissa.
We have some good patterns here on Tesla!Tesla is at a nice support area right now, and the risk-reward ratio is pretty good at this level.
We see a double-bottom pattern in the 30 min, and a very strong RSI divergence. The 592 is the trigger for a good reversal ahead.
In the 4h chart Tesla is very oversold, and if the 30 min triggers the reversal, Tesla has the 626 as its first target.Let's remember that it has an open gap at 733. All these signs make a good trade thesis for Tesla, let's watch these points closely!
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See you soon,
Melissa.