IBM daily analysisHi friends
the daily chart of this action shows that it will experience a bearish trend in the coming days but with the vigilance of the change towards the opposite direction
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IIINTL BUSINESS MCHN
226.191CHFR
+1.127+0.50%
At close at Jul 17, 07:00 GMT
CHF
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IBM trade ideas
Bear flaglooks like a bear flag starting to break down on daily, will watch tomorrow if market falls
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IBM LONG This trade analysis based on two levels, the support trade line and the resistance trade line (Orange color arrow).
When the stock NYSE:IBM reach the 1st Fibonacci 127.2% it follow the Fibonacci retrace down to 61% - 50% and reach the Support trade line. At this moment, around 121$, its the time to take a profit at the 2nd Fibonacci 127% level. As well as for the 3rd ..... (144$)
When you look the MACD indicator it's will be the good time to buy the stock at low level
Mulitple TimeFrame Analysis IBM Possible Swing Sell
Monthly
- a strong downtrend since April 2013
-price has made and consistently respected the parallel channel
-there was a huge move to the downside the previous 2 months, and price has rallied the month of april
-current price is respecting the 50 fib level with 9 days left in the month (could possibly end up closing at the 38 fib level
Weekly
-the previous week ended in an indecision candle after a decent push to the upside (i'll take that as a bearish candle, signaling price exhaustion)
-im expecting price to fall to the demand zone and form a double bottom (i'll look to enter a buy there, MAYBE, we'll have to see)
- if a double bottom does form, half of an inverted head and shoulders pattern would be complete)
Daily
- a double top formed
- price barely closed above the previous day high with a long wick above showing some bearish pressure.
IBM to Long, after V breakout and re-testExisting Condition:
1. in 60 min, down trendline break by breakaway Gap (G1)
2. Breakout V reversal pattern
3. Re-test the 60 min demand zone.
Entry at demand zone: 107
Stop below this zone: 102
Target1: 124; risk/reward=1:3
Target2: 135, risk/reward=1:5
This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
In my real trade, I use options. I bought Jun 130 Call, limit 1.3. Do not need stop.
Sum of my ideas:
5 active, 7 winner, 1 loser, 0 pending for condition;
4 analysis only, 8 cancelled;
