After yesterday's breakout of the bearish channel, the cable played out the rest of its merry tune between the 0.5 and 0.38 Fibbonanci levels. These look like holding as support and when you add in the new bullish channel it looks like we have a trade on the open. I'm going long at 1.2370 and waiting for the morning open to carry on where we left off. TP is...
Gold closed this month at $1,798/oz which makes June 2020 the second highest monthly closing price on record. The all-time highest monthly closing price on record was set at $1,831/oz in August 2011. July could easily break the all-time monthly closing high if current upward momentum holds. The June and May price candles both closed yellow which indicates that...
Well, if the recent upward movement continues, then we might have some good opportunity over here. AMD is considered to be one of the best "comeback kings", which means once it was oversold, it usually runs back to overbought levels very quickly. It was oversold on multiple timeframes recently, and based on the MACD indicator. We might see some trend reversal(...
GBPUSD Long Direction: - The pair approached the end of a Bearish Cycle which may continue on the H4 time-frame, but on the H1 time-frame a reversal off bottom of level was due. - The pair was expected to enter a Bullish Cycle on the H1 time-frame now. - A multi-session W (Double-Bottom) pattern formed on the H1, giving us the direction, and also failed to take...
NASDAQ, NDX / QQQ, has been leading the stock market rally. In my opinion, we don't need to take any other chart / index into consideration when looking at the trend of the stock market. We recently reached the top of a large pattern that goes back to 2018. I mentioned in a previous idea that the price is likely to find resistance on the top line, and it...
The chart says it all. generally we could expect a weaker dollar in the weeks to come. However, the CAD still shows a stronger Bond yield spread than the Dollar. Market sentiment iin terms of the commitment of traders showed declining net short positions in favor of the CAD. In terms of price action, USDCAD is currently below previous month's low at 1.3737 levels...
This video will introduce you to TradingView keyboard shortcuts and will show you how to use the charting interface to help give your viewers a better user experience.
In this video idea, I share what Indicator Templates are and how you can use them.
The “OOPS pattern” was developed by trader and author Larry Williams. It was named, according to Williams, for the all too common experience among traders when a broker would call his clients to report that a position was stopped out and say, “Oops, we lost.” This was due to the market gapping from one trading day to the next due to an overreaction from some...
Something pretty interesting happened when the DXY ( U.S. dollar index ) is inverted, and split chart next to the US500, a derivative of the SPX500 that trades within the construct of the OTCC markets and is a good 24/5 proxy....
A simple idea, yet effective. No comments as it is self-explanatory
Weekly trend did not change, new lows made. Cycle low target date in August or September. With the continued fundamental uncertainty the natural gas down trend has continued. Price will likely continue to be extremely volatile.
Hello Traders, This morning I'm looking at a possible short selling opportunity with EURJPY but I would like everyone's input. I'm trying to establish if this is a decent risk to reward sell trade. I know the odds of the trade are more likely in my favor but I'm wondering if I should increase my target or even execute this trade at all. Let me know what you guys...
Let's think together what novice traders should do if they want to make money from the beginning, and they don't want to blow up their capital? First of all, we need to describe who novice traders are. You may guess the following: - a novice trader is a boy or a girl who starts trading in the financial markets from scratch, - a novice trader dreams about making...
The Empire is strong, Darth Powell’s lightsabre is carving into every company, fund, and bond, but instead of cutting off limbs, his magical weapon is adding them. What we end up with is a grotesque monster that does not resemble anything in the known universe. Every right-minded investor knows in the back of their mind that this cannot last. But while it...
Silver is testing an important rising trend line on 4H. the touchpoint matches perfectly with a horizontal 4H structure. +the price has perfectly formed a bearish engulfing candle signifying a strong bearish pressure from the underlined area. on 1H the price has formed a head and shoulders pattern and the breakout of the neckline is confirmed. now I expect a...
This is just a basic guide for identifying support and resistance and how to use that information to find good areas to buy and sell. Hope this helps!
Treat Your Trading Like A Business What are your hours of operation? Example: New York Session? 8am-10am? Do you know your inventory? Example: Trading Journal What's your trading plan? Example: Confirmations, Risk What's your investing plan? Example: $25/Week What are your assets/liabilities? Weekly Income Needed/Expenses?