This is the bearish case for S&P500. It counts a double zigzag WXY from the bottom on 22nd March.
Going through the subwaves on lower timeframes it is possible to count wave c of the second zigzag as complete like this:
Note how price hit the purple median line and reacted to it, and...
Looking at something like this for my next entry well see where the trend goes from here before we enter.
I'm just a beginner so that is why all of my trades are EURUSD (trying not to complicate my self).
Just caught a really good trend.
Price rejected the resistance at 1.08859 and started to put down heavily.
The bears took the charge big time.
RSI and Stochastic were in heavily bought territory.
MACD crossed over and i enered.
I got in this one at around 1.08742 with SL at 1.09000 (placed after the recent high as i didn't think it would reach that high again).
My trade yesterday looks to have gone to plan.
I got in just after the highest high as illustrated on the chart.
As you can see both Stochastic and RSI proved that the market was being over bought.
This points to a sell.
The resistance at 1.08505 was passed with flying colours but volatility soon started to fade.
Then MACD crossed over which pinpointed my entry...
As a continuation of my last post it looks like price has smashed though the resistance i thought t would stop at and shot right up to the next one.
RSI and Stochastic starting to heavily indicate overbought conditions.
Waiting for MACD cross over before entry.
We might see a reversal on the next resistance at 1.08528
EURUSD slowly reaching resistance at 1.08091.
Waiting on oscillators to indicate a change of trend to the downside (bearish).
Wont enter trade until strong indication has been confirmed.
Resistance is also very strong, has been tested many times in the past.
Looking for 1.5R on this one as always.
Any ideas or comments let me know!
Both daily and 4H time frames are showing:
Reaching up to long term S & R
Looks like a high risk reward short entry position. Shown short setup is a possibility of how this could be traded
Note break of lower parallel of the well-validated blue pitchfork after multiple bearish divergences, indicating the first leg up is over at the 50% retracement. This can be counted as a zigzag.
A low-risk short trade is possible here with a stop just above the recent high at wave C. Need to watch the orange pitchfork and lower our stop loss along its upper...
Everybody seems to know that Gold is going north. Some say $3000, others say $5000. But none of the people who claim this are saying 'by when'.
I have no doubt that Gold will eventually reach $5000 but I don't believe that that's gonna happen anytime soon. I may of course be proved wrong. But I'm not doing FOMO at this stage of Gold.
Have a look, why I say...
Price has been following these pitchfork nicely on the small time frames. Reaction to the warning lines of the red pitchfork and well contained within the blue one. Expecting more decline as the internal wave count on 5 min and 1 min so far doesn't appear to be complete for a full wave down
We seem to have stopped for the time being at 2500, which on a weekly chart time scale shows a bit more bullishness. But looking at the monthly chart on a macro scale, it looks like RSI still needs further to go. Could this be the start of a heated sell off and beginning of a bear market? Time will tell
NOT TRADING ADVICE!
10k was achieved but not held for long. The desire to achieve the goal and beyond is still strong overall as gave the markets what its potential could be. But the markets in general have to settle and gently restore consumer confidence. A succession of bad news after bad, elections, Brexit and coronavirus have impeded and quickened BTC current...
All the details about the active trades we have for the London session are in this video.. I watchlist for the day is much bigger but we cannot share it all as it is time consuing and our time is dedicated to our trading community and coaching program!
Enjoy the video!
More to come later! Busy day ahead!
ENTRY 10.1580 /// MODERATE 10%
SL 10.17915 ( pips 221 )
TP 10.08605 ( pips 709 / RR 3.2 )
On 4H we have a solid contraction and we are pretty much at the top of it. RSI is at its highs too.
On 1H we have a minor contraction supportin the sell idea with a decent rejection level.
On the minute charts I see a reversal coming within this hour (in...
Good morning all!
Hope you are all having a superb day!
The video explains our trade idea on buying XAUUSD today. Below you will find some details about the trade.
ENTRY 1653.214 /// MODERATE 10%
SL 1637.737 > MAKE TRAILING SL
TP 1 - 1688.300 ( pips 3549 / RR 2.4 )
TP 2 - 1699.440 ( pips 4643 / RR 3.1...
We just went long on this one after lots of preparations we believe it is a good time to go long.
We reviewed the EUR vs all major trading pairs and there are good chances of a bull reversal, on the other side the USD looks pretty weak and even the DXY agrees... maybe its too soon as its still just Monday and there is so much more info to come out but we feel...