Knot Offshore Stock Chart Fibonacci Analysis 091525Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 8.1/61.80%
Chart time frame:D
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress:A
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) 61.80% support
D) Hit the bottom
E) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find an entry-level position. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of the slingshot pattern.
When the current price goes over the 61.80% level, that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, TradingView provides these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with the fibonacci6180 technique, your reading skill of to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low points of rising stocks.
If you prefer long-term range trading, you can set the time frame to 1 hr or 1 day
KNOT Offshore Partners LP
No trades
Market insights
Knot Offshore sinking. KNOPImmediate targets 14, 12, 10. Invalidation at 25.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
$KNOP can rise in the next daysContextual immersion trading strategy idea.
The demand for shares of KNOT Offshore Partners LP looks higher than the supply.
The company owns and operates shuttle tankers under long-term charters in the North Sea and Brazil.
On 07APR the company announces First Quarter 2020 Cash Distribution. Despite the crisis, It will correspond to $2.08 per outstanding common unit on an annualized basis — finance.yahoo.com
This and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $11,69;
stop-loss — $11,00.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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