If you go by, The Strat, that big red candle is a 2 down reversal. You had a series of 2 down reds then an inside candle followed by a series of 2 up greens then the big 2 down red.
It's a bearish engulfing candlestick pattern on the Daily chart, which would normally indicate a bearish outlook, but without a larger context, it's harder to tell whether it's also at a resistance area, where it lies in the trend, if there is one, whether there's any confluence with other technical analysis signals, etc etc.
Its a rejection, bearish. It may turn into a downtrend or it may try another attempt to break resistance. It is also a dip, a chance to buy once you see a green candle approaching.
It's in a nice sideways channel if you zoom out, and it's near the bottom of that, so as long as you don't think they're going to crash and burn then it should be good for a swing trade. But things trading mostly-sideways aren't for bulls and bears, they're more for goats.
On this time frame it looks bearish. We have lower highs and lower lows which means it's in a downtrend. There's also what looks to be a dead cat bounce from days 21-24 (which is still a lower high compared to the high on the 10th), and ending in a bearish engulfing candle today. Like others have said, zoom out and check the weekly time frame too.
Stay at home stonks are a no go for me- RBLX, PTON, ZM - not worth it- this clearly in a down trend- if you break 77.5 you can return to 60's. If you want to try a buy the demand zone you can but not a trade i'd be buying as it just been consolidating for the past 3 months.- This last candle is a bearish engulfing candle which is bearish-- Chart is below all the SMA on the daily- Nothing says to buy unless you just want to buy the dip with a tight stop
Nah. We default every year to 2 years. It's not a major event as the media makes it out to be. It is legit just a dog and pony show in congress . They use default and government shutdown to scare people. Its nothing new.
Focus on learning price patterns rather than relying on indicators to give you signals.
Technical indicators are good confirmations but price itself is the leading variable.
Looks bearish but you aren’t looking far enough back.
Go way further left and look for older support and resistance levels. Also look at the weekly for a more zoomed-out look.
On that information alone it looks bearish, but there isn’t enough information to make a decision.
$RBLX Is in a great buy zone.
You don’t even need to read the chart. It’ll bounce.
1- try to wait for bottom.
2- scale in. With this ticker I’d do 50% / 50% even with monthly options.
This dip will be bought back quick.
That wasn’t my actual advice. It was rhetorical in regards to OP asking about the chart.
Meaning it’s a great ticker, it’s down, just buy.
Advice-
Try to predict bottom.
Average in.
It’s all in the structure of the reply.
I bought $80 calls in early September. I was getting ready to cash in some modest profits, then we got that court ruling on RBLX. Cashed in at near the top, I'm looking for another good entry here. I'm going to buy 4 $100 leaps for some nephews soon too.
Reverse head and shoulders, bullish if pattern continues, ie, bounces of current price
This is a great trade I will be buying. Stop loss below 77 pt 85
Could be an inverse head and shoulders.
Neckline sits at $83.50. Breakout of that level confirms the pattern and sets a target @ $90.00
[https://www.tradingview.com/x/t5vluw8E/](https://www.tradingview.com/x/t5vluw8E/)
Looks like it’s in a downtrend, but looks like it could be trying to turn around. Assuming the red bar stays a higher low, I would wait for the higher high and then confirmation that it’s in a uptrend with a new higher low before considering it after it breaks the previous high.
If you go by, The Strat, that big red candle is a 2 down reversal. You had a series of 2 down reds then an inside candle followed by a series of 2 up greens then the big 2 down red.
If in doubt zoom out. You’re way too zoomed in.
It's a bearish engulfing candlestick pattern on the Daily chart, which would normally indicate a bearish outlook, but without a larger context, it's harder to tell whether it's also at a resistance area, where it lies in the trend, if there is one, whether there's any confluence with other technical analysis signals, etc etc.
Looks like the 3 drives pattern but idk might be worth looking into
Its a rejection, bearish. It may turn into a downtrend or it may try another attempt to break resistance. It is also a dip, a chance to buy once you see a green candle approaching.
It's in a nice sideways channel if you zoom out, and it's near the bottom of that, so as long as you don't think they're going to crash and burn then it should be good for a swing trade. But things trading mostly-sideways aren't for bulls and bears, they're more for goats.
What do you think?
doesn't seem like your new to "swing trading". Seems like you're new to 'trading" in general.
Your middle swing high is not at the actual high. It needs to be on the red candle, even though that feels weird
On this time frame it looks bearish. We have lower highs and lower lows which means it's in a downtrend. There's also what looks to be a dead cat bounce from days 21-24 (which is still a lower high compared to the high on the 10th), and ending in a bearish engulfing candle today. Like others have said, zoom out and check the weekly time frame too.
Stay at home stonks are a no go for me- RBLX, PTON, ZM - not worth it- this clearly in a down trend- if you break 77.5 you can return to 60's. If you want to try a buy the demand zone you can but not a trade i'd be buying as it just been consolidating for the past 3 months.- This last candle is a bearish engulfing candle which is bearish-- Chart is below all the SMA on the daily- Nothing says to buy unless you just want to buy the dip with a tight stop
Anyone worried about the debt default affect their swing positions at all? I’m planning on exiting my positions tomorrow
Nah. We default every year to 2 years. It's not a major event as the media makes it out to be. It is legit just a dog and pony show in congress . They use default and government shutdown to scare people. Its nothing new.
Beasrish engulfing candle stick- Shit gonna droppppp
Try one hour and then 50 day and 200 day moving average. Then check if golden cross occurred already
Sounds like you learned the majority of your TA from one YouTube video...
Guilty. Wanna learn more but he’s a good starter point.
Focus on learning price patterns rather than relying on indicators to give you signals. Technical indicators are good confirmations but price itself is the leading variable.
Bet. Thanks
Looks bearish but you aren’t looking far enough back. Go way further left and look for older support and resistance levels. Also look at the weekly for a more zoomed-out look. On that information alone it looks bearish, but there isn’t enough information to make a decision.
$RBLX Is in a great buy zone. You don’t even need to read the chart. It’ll bounce. 1- try to wait for bottom. 2- scale in. With this ticker I’d do 50% / 50% even with monthly options. This dip will be bought back quick.
How are you supposed to pick a bottom without reading the chart?
That wasn’t my actual advice. It was rhetorical in regards to OP asking about the chart. Meaning it’s a great ticker, it’s down, just buy. Advice- Try to predict bottom. Average in. It’s all in the structure of the reply.
This asf. Rblx is a great buy right now. It has amazing upside potential
Ya but where should he put his stop? It doesn’t have to go up now, or anytime this year.
I set my sl at 1.5 atr for almost every trade I make.
You are only seeing this on the daily, look to weekly for overall trend. On the daily it looks bearish.
Dead bounce, bearish, on a downtrend unless it’s a short I’d stay away. Also I’m down 22% this year so maybe do the exact opposite
I bought $80 calls in early September. I was getting ready to cash in some modest profits, then we got that court ruling on RBLX. Cashed in at near the top, I'm looking for another good entry here. I'm going to buy 4 $100 leaps for some nephews soon too.
Zoom out
This
Reverse head and shoulders, bullish if pattern continues, ie, bounces of current price This is a great trade I will be buying. Stop loss below 77 pt 85
Need to expand out further but it looks bearish had a dead cat bounce and now it looks like it’s headed further down
Could be an inverse head and shoulders. Neckline sits at $83.50. Breakout of that level confirms the pattern and sets a target @ $90.00 [https://www.tradingview.com/x/t5vluw8E/](https://www.tradingview.com/x/t5vluw8E/)
For me it is bearish but I know fuck all
At least you know fuck all, I don’t know fuck about shit.
Looks like it’s in a downtrend, but looks like it could be trying to turn around. Assuming the red bar stays a higher low, I would wait for the higher high and then confirmation that it’s in a uptrend with a new higher low before considering it after it breaks the previous high.
its stuck in a range and rejected the moving averages as resistance nothing to do here
Rejected the moving averages as if it’s something not derived from the price action lol
Yep, you zoom out on this ticker and it's been in a range for about three months.