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ARKK trade ideas

Time to Add Onto ARKK Position?ARKK appears to have regained bullish strength after rallying above a strong level of resistance now flipped into support. And looks to be currently consolidating on-top of it. All of these are very bullish signs. Keep an eye on the start of the new week as ARKK has already confirmed a full body candle close above the key weekly support level. How it starts out of the gate this week will be key. If it begins Tuesday in the green, a quick 6-7% pump could happen to retest the upper resistance at around 134.75 - 137.35 approximately. A long seems safe right now but it will be worth monitoring as the daily RSI is nothing to brag about currently. Tight stop loss at 127.67 would be wise.
AMEX:ARKKLong
by TradeVibez
1
Let's watch ARKK closely! 👀ARKK is following the same movement seen on several tech stocks today: A possible double top in the 30min, indicating a brief exhaustion, but this is expected. The 119.15 is the pivot we must see broken as soon as possible. This will lead to a greater upside movement in larger timeframes. The red line is not going to be an easy foe for ARKK, as it seems the market remembers this price level pretty well. Yes, we also have a small divergence on the RSI, which could make ARKK fall a little tomorrow, but this wasn’t confirmed yet. On the other hand, if ARKK breaks the resistances mentioned, the 130 is our next stop! Let’s wait for more confirmation on ARKK! If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
AMEX:ARKK
by UnknownUnicorn21312077
3
Trading Plan for the breakout on ARKK - Statistical ApproachToday, we will explain our trading idea on ARKK. What are we observing right now? The price is inside a descending Wedge pattern (106 days correction), and we are observing possible signs of a breakout happening soon. We can see a clear support zone that the price could not break, so we expect a bullish movement towards the next resistance zone at least. How are we planning to trade this movement? We are waiting for 4 daily candlesticks, at least on the edge of the wedge pattern. (Currently 3) After that, we will set pending orders above the structure, and we will wait for a new local high for an execution. The optimal scenario would be to see a retest of the white curve. Ok, but why did we chose 4 daily candlesticks and not 7 or 9? Good question, smart guy. Let's take a look at the next chart Here we have defined ALL the corrective patterns that were ABC clear structures with a duration higher than 50 days at All-time highs level. The conclusion is that after we have the first breakout attempt, we observe a 4 to 8 days correction (daily candlesticks on the edge of the broken pattern) and a new local high as an execution level has been working really well to provide Great setups with huge risk rewards ratio. OF COURSE, the setup failed several times, this is a statistical approach to taking setups, and we should be open to a new fail here. However, our approach is taking good bets in terms of Win rate and R/R ratio. (this means taking several setups to start observing an edge) The risk we are planning to take on this setup is 1% of our setup, move our stop loss to Break-Even on the next resistance zone, and we will look for a 1 : 10 R/R Thanks for reading!
AMEX:ARKKLong
by ThinkingAntsOk
4