Action: Set limit sell orders between $10375 and $10256
Stop Loss: $10635
Take Profit: $10077.4
Order valid: 16 hours from publication
Profit target depends on where wave 4 ends, but a double bottom should be at least achieved.
The stop loss needs to be set slightly past the low of wave 1 (in blue) as a move above this level will invalidate the count.
When hourly candle closes with a bearish candle under 0.98121, we will look to add a short position to our basket of trades. There are currently 2 take profit in place, 50% of position will be liquidated at 0.97734 (+38 pip) and the remaining 50% will be closed at 0.97467(+26 pips).
The growing strength of the United States dollar has already fed up with a lot of things, Trump and American exporters to traders and analysts who have bet and continue to bet on its decline. Quite a long time ago, we have turned to dollars bears and also not enthusiastic about its unwillingness to decline. So it is time to find out the reasons for its...
Been watching this lately as it has been appearing in my scans. The trading volume appears to have been quite consistent in recent weeks and trend of higher lows is encouraging.
The close above the 10 EMA is a cue to buy and target the resistance above.
Extremely bullish here & been waiting for months for this opportunity to buy down here.
Bought at 30.4p & will buy more if I get an opp at 29p-30p
Bullish divergence on RSI.
Resistance becomes support in most plays even if it takes a few weeks/months.
44.2p - 57p next resistance. Longer term will be more as this is a revenue growth making company.
Not a fan of this stock. All can be said is there has been support at the entry price of 5 ish, and judging by the recent transaction volume traded and the sudden price movements, it must be close to capitulation. Hit 8.50 ish today. That I suppose could be mid term bottom. as I type we have 10.40
Just throwing some lines on BP (BP.) and it is clearly trending downwards over 20 years.
I have been checking how various stocks were affected by the 2009 crash.
BP experienced a sharp correction in Oct 2008 and June 2010. However feb 2016 was another low point.
This forms a preety much parallel gently downward sloping channel.
This is indicated as reference for...
The Down Jones Industrial Average Index just broke below support after hitting a new all-time high and is looking quite bearish.
The next move is clearly depicted in the chart above.
We are looking at a bearish RSI and MACD.
After a failed bounce, EMA50 (26677.5) is going to be tested next. If this level fails, the DJI is very likely to move lower all the way...
Ok, going to throw in a little education from a trade I got on earlier. Nothing overly special from this trade. 30 pip move (and counting hopefully, the trade is still running).
First of all, I always draw my Fibonacci tool from top to bottom, never bottom to top but I appreciate there are people who do otherwise.
So drawing from swing high(0.90517) on the 1H...
Looking at a basket of Sterling pairs on a variety of time-frames.
(You can add this to your own watchlists by copying this code: GBPAUD*GBPCAD*GBPCHF*GBPJPY*GBPNZD*GBPUSD*GBPEUR)
There appears to be some evidence of a bottom shaping on the 4-hour chart.
Expecting a bumpy ride with Sterling, but I believe the Risk/Reward is looking favourable in the short...
Feel free to message me on there or telegram or even here. @EdTab1
Talking about last week, next weeks ideas and some psychology insights behind the trades, Enjoy!
All ideas in video.
Based on recent price action and a clearer parabolic picture, I've revised my estimate upwards from $30,000 in two years to $50,000 in two years. Nothing in this post is a prediction.
Traders should be very very very careful with this instrument. High volatility is...