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Boyd Gaming Corporation Analysis

Today I decided to do a tricky analysis. Why is this analysis/stock a tricky one, you may ask? It's very simple, I deem a drop in almost all the major indices as very likely and I don't like trading against the trend. Of course there are always exceptions to the rule, but historically speaking, in times of economic decline the vast majority of all stocks drop in price.

Now, is it likely that out of, let's say 95%, it's likely that one is able to pick the one stock out of 20 that does not decline in value? I'd say, even with all the technical knowledge in the world, the probability of success drops dramatically.

Let's dive into the analysis. As always, from the higher Timeframe to the lower ones. If I'm being completely honest, this is an absolutely beautiful chart, I really like it. If the danger of an incoming economic turn wouldn't be as high, this

Weekly Chart

A drop further into that +OB with a quick rejection from that small Gap marked at the lower part of the +OB would have changed the analysis, where I'd want to take profit etc. In some aspects it would have been more harmonic and the overall chart dynamic would have been cleaner, in other areas it'd have been less harmonic. I'm saying this to tell you that even the smallest movements in price matter and can change probabilities, RR of the trade you want to take and more. That's why it's so very important that you're not distracted when trading. You shall not miss important patterns or overlook/miss important pricemoves. 

How this chart would have changed in my eyes is some more advanced stuff I may be covering in later posts or educational ideas. For now, I'll try and lay the foundation of showing how I trade and what I look for so you can get a better understanding of price action.

Daily Chart

In the daily chart, we have some equal highs, building Buyside Liquidity. No matter whether we go lower longer term or higher, this is a very likely target in both cases.

There's also a BISI, offering strong support as there is a SIBI just a few candles before, meaning an Inverse FVG. 

Also, let's not forget about that +OB that looks very clean and could be targeted in case the BISI doesn't hold. Always harder to say in advance, live is always more pleasant in that regard. 

Hourly Chart

Here you can see the most recent price action close up. You might notice, that just above the Daily BISI is Sellside Liquidity (SSL) and another Inversion FVG.

Should price trade lower, the Gap would be a likely level for a reversal, especially since between the BISI and the Gap is a small but still existent +Breaker. You'll notice it when you study price action further to the left side of the chart. Just before the big fat beefy candle at the beginning of the +OB.

If you enjoy reading this blog, the annotations on live charts and stocks/crypto analysis, feel free to follow and comment any outstanding questions. 

Also, I'll start live-streaming while doing my TakeProfit analysis, most likely in German at first, but if there is a non-German speaker that's interested in further insights, just let me know. I can do them in English as well :)🔥🚀

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