BAVA - Strong Buy Setup

BAVA - Strong Buy Setup

- Hammer in PB&J Sweet Spot (SMA 10 / EMA 30)
- Bollinger Band Lower
- DeMark Perfected Buy Setup
- Test of Falling Window Low
- Pivots P Monthly & 3 Month support

Ultimate Target: Top of Falling Window

SL: 250
T1: 317
T2: 340
T3: 400

Yorum:

Update:

- Yesterday's Daily candle closed as a Doji.

- Horizontal resistance is drawn at the High of the pattern at $56,500.

- A Doji itself does not say that a market is going to fall, but that it's "tired"; it can move sideways.

- The market is tired inside of the Daily PB&J Sweet Spot for shorting (between SMA 10 / EMA 30 after a Dead Cross).

- If today's candle closes <= the middle of the tall white real body ($54,422.56), that would make the 3-candlestick reversal pattern Evening Star. The market tried to reach the High of the Bollinger Band, got tired at the Basis line, and reversed. This pattern can be traded.

- On candle close, set your Stop-Loss above the high of the pattern, short, and set your profit target at a local Swing Low, ; near the Bollinger Band Low and Hammer support.

- Follow your preferred way of taking profit. I will have a Stop-Loss at $57,000 with a Take Profit order with 50% of my position at $47,600, above Hammer support. Then I will trail a Stop-Loss using a Nison strategy which states: "Your stop loss order needs to be placed after the market has closed." and "My trailing stop loss order needs to go under the current days or the previous days - whichever is ."

- Stochastics support the overbought condition.