307 trade ideas
Classic Wyckoff #Shop $ShopNotice the textbook Wyckoff distribution, accompanied by according volume. The latest down moves come with big red volume(indicative of smart money legging it) and the recent rally is on very low green volume(poor effort). This market seems to be going up on a foundation of sand, and I expect rejection somewhere near the upper key levels(marked with lines). Look for Shakeout patterns through and back below these levels on the daily and weekly charts and plan for a reversal, maybe even another shooting star candle will appear. Ultimately this stock is probably doomed to the $500's in the next year or so. This is not financial advice, merely my punting opinion.
SHOP just cleared 618SHOP cleared the 618 rather easily today. This would be very bullish if it closed above the 618 today so I will put it on watch for Monday.
A move above the 618 increases the odds of a run to the 886 at 1111. Keep in mind price action is wonky on the low volume holidays like today.
SHOP channel returnI would wait until 20 MA catches up to the 50 and also would like to see a return to the lower channel
SHOP to test 1108 soonShopify is flying after breaking through it's symmetrical triangle the other day and also because of the 21% increase in online sales(highest ever) on Black Friday. SHOP looks to have resistance at 1058 and 1108 but with this momentum looks to break through 1058 soon. With this time of consolidation this may be the breakout moment much higher......
SHOP
Broke through top of consolidation
Closed at top of pivot range for November
Double Bottom at previous months low & close
Retested VWAP after pushing above
Target 1130 High of October.
SHOP 25% Potencial Profit - Uptrend PivotBeautiful uptrend pivot after weeks of consolidation. No divergence on RSI. Exit on fibonacci's levels.
Entry: $1000
Target 1: $1148.23
Target 2: $1241.08
SHOP 1D BULLISH FLAG LONG TRADEBull Flags are a Range type pattern.
Bull Flag Ranges are repeatable trading chart patterns.
Descending Bull Flag chart patterns will have a directional bias (Long Trade) depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of volume average for a full position size.
b - If 75% of volume average then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
If not 75% then stand aside from the trade.
2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order.
Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd
trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look
at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade don't wait for SL to be hit.
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
SHOP, enters Uptrend as Momentum ascends above 0 level on Nov 23This indicator may be signaling that SHOP's price has momentum to move higher, since its current price exceeds the price logged 14 days ago. Traders may consider buying the stock or exploring call options. Tickeron's A.I.dvisor backtested 68 similar cases where SHOP's Momentum Indicator exceeded 0, and 63 of them led to a successful outcome. Odds of Success: 90%. Current price $965.00 crossed the resistance line at $949.78 and is trading between $1021.62 support and $949.78 resistance lines. Throughout the month of 10/22/20 - 11/23/20, the price experienced a -3% Downtrend, while the week of 11/16/20 - 11/23/20 shows a +7% Uptrend.
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for SHOP just turned positive on November 20, 2020. Looking at past instances where SHOP's MACD turned positive, the stock continued to rise Tickeron A.I. detected that in 47 of 52 cases over the following month. The odds of a continued upward trend are 90%.
Following a +6.13% 3-day Advance, the price is estimated to grow further. Considering data from situations where SHOP advanced for three days, in 331 of 378 cases, the price rose further within the following month. The odds of a continued upward trend are 88%.
SHOP may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
LONG Shopify on breakout for CHRISTMAS RALLYA breakout could mean a move to the local high. Whether we get above the resistance point depends on the momentum.
Trade Update: Move stop to breakevenIngenuity Trading Model- Swing Trading Algorithm used in all markets- stocks, forex, futures, and crypto
The model is a Geometric Markov Model :
In probability theory, a Markov model is a stochastic model used to predict randomly changing systems. Markov Models are used in all aspects of life from Google search to daily weather forecast. The randomly changing systems we focus on are the equity, futures, and forex markets. The geometric element of the model is the fractal wave structure you can find on any chart you look at across any market and across all time dimensions.
Our model focuses on the current wave formation (current state)- geometric price formation along with its volume and volatility over a given time period and using that information to predict the future state- future price movement. For more information visit our website and check out our previous signals
$SHOP Shopify On Mondays Shopping List
Potential long entry on Monday id stock can break above the downtrend.
$1000 a key level to regain for Bulls.
Main target short term to $1025 to the POC (redline)
Indicators very bullish and reversing.
$SHOP on WatchlistAs you can see on this chart $SHOP has been in a consolidation / trading range for some time now. It is near the bottom of that range and it may be a decent trade over $937.00 back to the top of the range. I have an alert there and if the market is good and $SHOP has some volume on that rise I'll be looking for a logical entry with a tight stop and target to the top of that range. All TBD. Ideas, not investing / trading advice.
SHOP Long1) Price rebound at support zone
2) Bullish divergence
3) Higher Low formed, pending Higher High formation
4) MACD golden cross, pending Daily golden cross
5) Long squeeze
6) Falling Wedge
