(VIDEO LINK: www.youtube.com )GBPAUD has been a pair that I’ve swung and missed at all week with 2 losing trades & a trade that came half way to targets before getting stopped out for breakeven. The majority of the week has been focused around this same structure level & now that price action is trading below it, I may have my chance at a short opportunity. As...
I have a handful of trades on my radar today but I wanted to concentrate on the GBPUSD this morning because of the multiple opportunities. The main trade that I’m looking for is the Bearish trend continuation setup. This market has clearly broken structure to the downside and if we get relief we have an excellent structure level to predict where our next pullback...
Trade setup : Short on AAPL SL : 129.21 TP 1 : 123.70 TP 2 : 116.45 Fundamental View : Last Apple Keynot was a no event. No news = Bad news. Technical View : Triple-top pattern Pullbacked on last downtrend support No big support before 123.70 level Best of luck, Serge
Trade setup : Long on NZDUSD SL : 0.7080 TP1 : 71.90 TP2 : 72.55 Technical View : 4-Hour chart : A nice pullback on the last downtrend resistance of NZDUSD with a inverted head & shoulders pattern formed suggest that the NZDUSD may correct upward. 1D chart : Bounce up on downtrend resistance MACD uptrend signal Best of luck, Serge
Currently USDCAD has broken through resistance and support at 1.236 is currently holding. The price is also over the cloud so I see this as a good opportunity to take a low risk trade with potential for a big profit. Entry: 1.24196@ Target: First TP 1:1 R/R and position 2 I will close on a bearish candle. Stop: 1.23622
TEXTBOOK SETUP. PULLBACK TO THE 38.2 FIB WHICH IS IN LINE WITH STRUCTURE LEVEL. AUD IS STILL FUNDAMENTALLY WEAK, THE CURRENCY NEEDS TO GO LOWER TO SPUR GROWTH SO PAIRING IT AGAINST THE POUND IS A HIGH PROBABILITY TRADE BECAUSE THE POUND IS THE 2ND STRONGEST CURRENCY AFTER THE DOLLAR. WE'VE HAD A TWEEZER BOTTOM AND SUPPORT FOLLOWED BY A HAMMER REJECTING OFF THIS...
According to the fact of the Fibo, and Support Resistance on a bearish trend, i am persuading about short on USDMXN Fibos:Retracement, follow 2 pullbacks, and bearish trend, on a 1 day chart, Position Short on 15.21 Exit on 14.98 if support is broken@ 14.98 Exit on 14.70 Low Risk , Ready To Pull Some Pips.
The EUR vs USD is hitting a ceiling known as a resistance zone between 1.14512 & 1.15400 We might see price penetrate this zone but I think we will see a correction here. Our current daily candle is known as a Hanging Man which represents possible reversal of an uptrend and better yet it is at the resistance zone. The Hanging Man is telling us that there was...
Last week I posted Crude with a daily candle indicating the possibility of a reversal. Here the weekly chart only confirms that possibility as we see a reversal doji that matches up with the signaling of a top in the daily chart. I am still long term bullish as any pullback to the 50-54 area will be seen as healthy for oil. My long term target remains 68-75.
Now don't panic Oil bulls I'm not saying top is in. But I do think we can all agree that crude is due for a breather after its' near 50% run up from its' lows. This is NOT a good candlestick pattern, and todays' price action after the inventories report was not exactly inspiring me to add longs. It is after all just ONE days worth of price action so we will see...
We are waiting for any sort of pullback or consolidation. Considering the recent fundamentals, nzd remains bearish. I hope to see a pullback at the 0.618 fib to get a long position. If we see a pullback at the 0.50 fib we can also have a Long entry with a short term target at the 0.618 fib, but i don't think it will happen, momentum is too bullish.
Hi all, Here is a Plan which is about Trading a Double Top Pullback. In trend reversal chart patterns, after the initial breakout move, there is a tendency for price to retrace towards the breakout line, before continuing the trend reversal move. This setup provides a good entry as the Stop loss level is clear and tend to have a low probability of losing, if the...
DAX IN A NICE UPTREND BUT WE'VE RECENTLY STALLED CAUSING THE DAX TO CONSOLIDATE FOR ABOUT A WEEK. WE'VE MANAGED TO BREAK OUT OF THIS CONSOLIDATION CAUSING THE TREND TO CONTINUE. PRICE IS NOW PULLING BACK TO A LEVEL WHERE THERE'S GOING TO BE BUYING INTEREST. TARGET AT 12500 WITH STOPS AT 11974
IM ALREADY SHORT IN THIS PAIR BUT IF PRICE RETRACES AND TAKES ME OUT OF THE TRADE THEN THE NEXT LEVEL I'D LOOK TO SELL IS AT MY CLUSTER ZONE/SELL ZONE. IVE GOT LOADS OF CONFLUENCES AT THIS LEVEL WHICH ARE THE 0.5 AND 61.8 FIB, SUPPORT TURNED RESISTANCE STRUCTURE LEVEL, MAJOR TRENDLINE, DYNAMIC RESISTANCE (50 MA) AND A NICE PSYCHOLOGICAL ROUND NUMBER (1.03000)....
Plenty of confluence is building up around 1,10-1,11. 1. Key Weekly zone at 1,10-1,11 2. Bears defended 1,10 on the 18th 3. Bears stepping in, again, today, defending 1,10. 4. 50-61,8% fibonacci level. As recent as last week, the bears defended this level, and chopped of some of the bullish engulfing on the 18th. So the bears are definitely present around this...
I was thinking about this concept while I was driving after dinner. You do not need a fancy $500 Monthly subscription for an edge. Here is the Concept, You can build on this. Notice how the Murrey Math Oscillator works in finding the pullbacks with a trend. Experiment & create your edge . NOTE : EVERY PULLBACK TRADING SYSTEM WILL FACE TRANSITION ZONE, ITS...
SWKS has been trending well for about a year. There was a deep pullback in October 2014, which would have stopped most longer-term trend traders out of the position, but the trend soon resumed its prior linearity. This stock could have first been traded when it broke the 2001 high, in April 2014 at around $40, as the uptrend was already well established. Then,...
BEBE broke out above the 3.30 band of support under high volume. This came after a nice bottoming formation with the 150 MA sloping up as of breakout and as of now 50, 100 and 150 MA lined up nicely. Also the pullback experienced nice volume contraction. Enter on signs of intermediate term trend reversing to the upside. If this happens nicely, a move to around...