I usually just trade the Emini futures but am looking at investing in the EV sector and am looking at more daily charts to try and learn from.
I am pretty much just a pattern trader, don't follow any news whatsoever.
A few things that I am seeing on the daily chart here if I had been trading AVXL is that there were a few pattern set ups.
1. Inverted H&S pattern in purple which hit it's target 2. A double bottom in white which hit it's 1:1 target. 3. A trend line break out in green that hit the start of the trend line 4. A gap fill
My trading style on gaps is that I use the closing prices of the candles to mark the gaps, not the wicks.
I am also seeing that a break and close above the blue 50 EMA is also a good trigger when accompanied by a buy trigger from a pattern.
I am not a big fan of just trading a V bottom, I am noticing that sideways consolidation of several months to years is a better trade set up.
Right now it really looks like several targets have been hit and maybe time for another consolidation? Or even a gap fill down below at 15.50 is on the table as well.
I would be looking for some type of consolidation pattern around the 12-15 range?
The last bounce kinda looked like a short squeeze then dump.
If the 200 MA gets taken out then that would be somewhat bearish.
Once you start messing with the 200 MA things could get messy and much harder to trade.
As I mentioned earlier, my goal is to build a portfolio of free shares where we can buy low and sell half at a double or even 4X and then let the rest ride until I die and give it to my daughter. LOL
But then swing trade any decent set ups in and out with another batch of shares, not ever touching the original free shares.
Just thinking out loud here while I wait for my daughter to wake up and celebrate Thanksgiving. Have a great day!!
Market Data 
Markets 
AI
