Might be a break of good support here, will be a very quick break out trade, next support level around 216-217. With % SMA as the stop, it will be a good risk/reward ratio. Got to hit the low before hitting the high
This is in line with all my trades posted so far for today. Upward Trendline has been broken which is highlighted by yellow box and now it is breaking down south. Along with Yellen currently speaking in regards to rates, I'm anticipating a target of around 95.50 - which gives me a profit of over 80 pips
I was in a long position on this which i was stopped out on friday. I usually ignore the friday closing hrs due to lack of volume but price seemed to fall during the last few hrs and i ended up taking a short play.
This is a classic retracement play coming off a period of consolidation (which i originally thought it was going to break higher) but I reversed my...
Hi all,
This is an update to the Short OGE Trading Plan, which is about Trading a Double Top Pullback.
Update as of 29 June 2015:
Market has plunged sharply down from $31.20 in the last update to as low as 28.65 on 25 June, and currently hovering at $28.80s.
At this point, the bears have used up much bearish momentum pushing the price to $28.65 and we are...
Based On PnF analysis if the price breakout the Price level 9550 we can expect extended upward move targeting 9710 I placed the stop loss on 9470 based on 3 Box reversal criteria .
It's short term trade based on combination between PnF and Fibo levels .
Note : because of the risk to reward ratio less than 1:2 So i will decrease my Lot size to 50% of my...
EA has been in a good uptrend since 2012 and I have often looked at it during this time. However, it is susceptible to deep pullbacks so has never been worth serious consideration.
More recently (since the October 2014 low) a more reliable trend has begun to develop. The daily 50sma is now working well as support. Gaps up also have been corresponding with...
GPN has just broken through the $100 mark and the chart patterns suggest price could go higher.
However, when this stock hit $50 (in 2006) it moved into an extremely prolonged consolidation. This lasted until the end of 2013 and the range was deep (between about $30-$55).
For this reason I would recommend sitting tight until the $100 mark is comfortably cleared...
LOTS OF UNCERTAINTY WITH GBP BECAUSE OF THE ELECTION WHICH IS CAUSING THE POUND TO DEPRECIATE. PRICE BROKE OUT OF THE RANGE LAST WEEK AND IT IS NOW LOOKING TO RETEST THE RANGE LEVEL (SUPPORT TURNED RESISTANCE). THIS IS A TEXTBOOK TREND CONTINUATION PATTERN (BREAK,RETEST,CONTINUATION) IF PRICE MANHES TO RETRACE BACK UP TO MY SELL ZONE I ALSO HAVE 2 FIB CONFLUENCES...
ANOTHER TEXTBOOK SETUP ON USDCAD. PRICE HAS BEEN STUCK IN THIS RANGE SINCE THE END OF JANURARY. A FLAG PATTERN HAS BEEN FORMED AND THE LONGER THE MARKET IS STUCK IN A RANGE/CONSOLIDATES THE BIGGER THE BREAK OUT. USDCAD HAS FAILED TO BREAK SUPPORT OF THE RANGE WHICH IS ALSO A MAJOR PHYSIOLOGICAL LEVEL (1.24000). THE MARKET IS CLEARLY CAPPED AT THIS LEVEL BECAUSE...
BR is a low volume stock I would not trade. But it is trending well so may be of interest to those of you who are happy/able to consider a position here.
This stock has been trending fairly well since breaking out of the 2007-2013 consolidation at just above $25. Price action can be a little unpredictable but this is to be expected with a low volume and fairly...
CI has recently begun to trend very well - especially since clearing the $100 zone. There were a couple of retests of the figure then, in early February, the daily 50ma held as support. Since then the trend has been linear.
As the trend is only just beginning to smooth out it is early to enter a long-term position at the moment. But as the overall trend has been...
This trade is an example of how sometimes you don't need to know much more than to recognize a trend line.
As you can see in the chart, once the price broke out of this long down trend line, it never looked back. The fact that it gapped also above the fast SMA line (blue), confirmed our setup and today, the members can collect profit.
Have more questions about...
HBI recently underwent a 4 for 1 stock split which now makes it a very reasonably priced stock to consider trading.
In the past HBI has been a little erratic (with deeper than preferred pullbacks) making it difficult to trade. But overall it has trended well, as can be seen by the unbroken weekly trend, since breaking the 2008 high in early 2013.
On the daily...
LII is a low volume stock but one which is beginning to show signs of trending well since breaking above the 200ma in October 2014.
At that time there was major resistance ahead with price trading below the March 2014 pivot high ($94.69) and the $100 figure. The March high proved the more difficult to crack with price hanging around the $92-$97 zone for several...
MDVN was a possible long for me back in November 2014. Price had broken above the $100 figure and retested it with a bull flag formation and I felt this was enough to propel price higher (which it did, marginally, a few weeks later).
However, the move could not be sustained and price came back down to retest the $100 figure on several occasions - most notably to...
