Ladder sells slowly if price rises once more, if price drops from here, then it may be best to not enter as the risk to reward ratio will likely be less than 1:1. Keep your
stop loss at the 78.6% retracement of wave (a) or is there is a break above the horizontal channel with high volume, you should exit this trade.
This is not financial advice and is only for...
Potential short set up on US Oil based off my simple 15minute day trading strategy.
- Price is rejecting daily pivot level for a 2nd time today.
- Price is rejecting the 200 EMA
- 50EMA is below the 200EMA.
- 15 minute lower high/double top at daily pivot level
- RSI showing overbought
Stop loss is placed above current highs.
Profit Target 1 is the daily S1...
I thought I would give you guys a little money making opportunity if you missed out before yesterday, no worries.
First trade opportunity: buy at 0.315 and sell at 0.324, which is 2.8% profit. Next target, 0.341.
Second trade opportunity: buy at 0.305 and sell at 0.315, which is 3.2% profit. Next target, 0.324
In both cases, you want to sell a part of your...
In the chart above we are looking at the AUD/JPY pair on the 12hr.
To precisely enter successful reversals we need to maintain a very strict trading criteria in order to benefit the most out of our reversal trades.
Questions we need to ask before entering a strong reversal:
- Who is in control of price?
- Have we reached a strong area of Support/Resistance?
At 6am we witnessed a bullish breakout candle breaking past the 0.67572 resistance zone. Before price continues in a bullish continuation trend, there will be a retest of this key level along with the 50% Fib level.
Price should retrace from this level and continue heading up. We have two targets in place:
Target 1 is placed at 0.67876
Target 2 is placed at...
Here is what I see for GBPUSD.
I see a head and shoulders pattern forming. The neckline of the pattern is inline with a support zone, if price can melt and turn support to resistance than we might
get a drop from neckline to end of lowest point of H1 Support.
Potentially we could see a bigger drop if you check 1D Chart and H4 Chart.
Will also publish those...
Price has finally broken out of the recent 2-week range, following a false break of support.
The buyers stepped in very strongly, breaking and closing above resistance at 112.886.
Price has now retraced some, and is retesting former resistance which I now expect to act as support. There is almost confluence with the 38.2% Fib level. I am watching for bullish...
Price has tested the September 18th swing low, an ideal spot for some short covering and profit taking!
Current price action (congestion) married with the RSI coming out of oversold conditions, as well as the ADX being at an extreme value and slope gradient, gives me confidence in taking a low risk buy trade.
Target: 61.8% Fib level confluence with previous...
Price has stalled at the 61.8 Fib level, where there is some market structure.
IF price should begin to retrace, I will be watching the $78.70 level for a retest, and then continuation of the bear trend.
Targets are whatever the previous low is, with 2nd targets at the $70.30 level which has several confluence factors.
EURUSD is bearish at the moment,
The key levels I marked on the chart are great levels for day trade position, on the low time frame the Demand below seems like a great Quasimodo level of buy position, if the price reach that demand I'll Buy there, The supply above is a great level of sell position, I'll sell at this supply.
EURUSD has created a new fresh supply.
Since the price drop fast from that supply above, there are many unfilled orders that waiting for the price To Return. those orders will be executed if the price hit that supply, therefore if the price hit that supply I'll sell there, it's a great level daytrade sell position.
Last Friday, the GBPUSD has a drop of almost 200 pips, that drop created 2 new fresh supply level in The middle of the way.
Both levels are great levels of sell position as a day trade position, I'll sell at the supply above, and if the Price brake this one, I'll sell again at the one at the top. Also, this recent drop has changed the long-term Momentum to...
As we can see the GBPUSD has created a new fresh demand on Friday.
The price bounced very fast and strong from that demand, which indicates on unfilled orders waiting There for the price to come back and pick them, if the price will back to this demand I'll buy there. It's a Great demand for scalpers and also for swing position.
Those are the next key levels to look for an intraday position.
For the intraday terms, it seems GBPJPY is bullish, the demand below
Is a great continuation level of buy position, I'll buy at this level and my
Target will be the supply above which is also a great level for sell intraday position.