PumpJak

PumpJak

After just recently breaking out of a triangle pattern we have steadily road a rising 20dma and now a rising 50dma. We currently this morning are trying to breakout of long term downtrend line. Looking bullish for the short term.

PumpJak

Big triangle. Guess only time will tell. White line marks $9.99

PumpJak

we are still consolidating from are last down move. No direction yet.

PumpJak

Head and shoulders retest. An aggressive short would be too short at the neckline. A more conservative short would be the wait on channel break down.

PumpJak

Looking for 50% Retracement. That would put us around the 67 area.

PumpJak

25 area is the target for the head and shoulders. Could take some time but I believe we will eventually get there.

PumpJak

We will have to see if this plays out. In time we will find out. GL to all.

PumpJak

The whole picture. Trading in a nutshell. Big consolidations know matter the form; triangles, pennants, or rectangles... etc. A good trader has a lot of patience. So, at the moment we are in a good rectangle base consolidation, it could change to another form. The trade and the hope would be that in time we breakout to the upside of the consolidation for a big...

PumpJak

Happy New YEAR! Let's bring in the new year with an inverted head and shoulders! Let's hope we break out of the downward channel to come up and at least test the shoulder line. Then to top off are 2023 year we hope to breakout of the BIG SMILE this chart has giving us. GL to all and hope your trading for '23 is spectacular.

PumpJak

Huge triangle breakdown and double head and shoulder breakdown on the horizon. I would like to react at the break of the grey dotted neckline for conformation. Going down the first major stop and pullback will occur at the weekly 200sma. In the long run I believe we could see this triangle hit its full target of around 265.

PumpJak

Looks like we could be heading to the 35 area................................................

PumpJak

This uptrend looks exhausted due to price to momentum divergence. The likely hood of coming back to 50sma then probably even the 200sma is highly probable.

PumpJak

Looks like ford could come down to test the long-term downtrend line. Worst case scenario would be the long-term support. Pattern targeting right between to the original pivot low that took ford to a breakout.

PumpJak

Overtime apple will eventually land on the blue line in the sand. The gap will be filled. Stay Strong stay short.

PumpJak

Similar Structures Similar Results. Trend intact unless break down of rectangle.

PumpJak

The likelihood of the market heading back to major trendline is highly probable in the long term. You can see the demand zones in blue will eventually meet up with the overall major trendline in white.

PumpJak

Looks like we have reached the line in the sand. Short as long as we are below the blue line.

PumpJak Updated 

I will be waiting for a retest of the neckline, or close to it before entering a short position. Target is 107.50 (As with most H&S this could take some time)