price is pulling back into nice structure level which would be a good opportunity to get long. Buyers are clearly defending this level as they dont want price to drop into the area where Canada cut interest rates. I.ll be watching for a buy signal at this level eg bullish hammer or engulfling pattern. My long term target is still at 1.30 but i.ll be targeting...
We're sitting atop the local higher low here. As soon as we establish a lower low, the targets below are where I would expect it to reach. There is strong support around $200, so if it is going to turn around, I would expect it to turn around there. Overall, I'm still pretty bullish, but we can't know for sure until we reach one of these targets and see what...
After nailing a 17% trade, the market appears to be overbought and hitting strong resistance. The volume says we won't break it this time, so I'm expecting a pullback to the breakout zone before making a trend decision. This isn't a concrete trade strategy yet, just a hunch. Look for possible topping patterns to confirm. We may reach slightly higher, but I...
Shorting GBP/NZD on confirmed retracement to trendline and to 61.8% Fibonacci level.
Confluence of factors for short set up: - resistance at ~0.9590 (also weekly resistance) - inside bar formation in pull back below resistance - 0.786 Fibonacci retracement/rejection - hidden divergence (bearish trend continuation) entry - below low of inside bar stop loss - above mother bar target - previous swing low or 1.272 Fibonacci extension
CVS has been trending well throughout 2013 and 2014 although there have been a couple of deep pullbacks in this time. Since the deep February 2014 pullback the trend has been good but not great. A wide stop would've kept you in the trade but there have been more linear trends in play which would be less stressful to manage. So saying, CVS has continued to make...
DAL had been a great trending stock for a couple of years but the 2014 correction was extremely deep (by the standards of this stock). More recently the June 2014 high was broken but price remained fairly indecisive just above it for a few weeks. Staying above the previous resistance, however, is far superior to dipping below, so this was the first suggestion...
I've been stalking longs in USDCAD for months now. It takes patience to find entries. As long as major swing lows are not taken out, then everything is is basically just a complicated pullback. Canada spent most of November pulling back to its lower median parallel. A news release caused the final weak hands to get shaken out. I was happy with the way price...
The markets were skittish yesterday so the breakout list today is not the best. As a longer-term trader I would not want to trade ESRX. While this stock has been bullish for years the pullbacks can be very deep. Trends only last at the most for a few months. However, this may suit other traders who like to trade shorter-term. The first gap up passed $80 (and on...
ODFL is a good trending stock, but volume is fairly thin. This can affect liquidly when entering and exiting trades. The weekly uptrend has been long and linear - the pullbacks have become a little deeper but are more than acceptable on this timeframe. On the daily chart, however, the pullbacks have caused a bit more of a concern. During early 2014 there were...
ABC has been in an uptrend for many years - with some periods of pullback and sideway movement on the way. In more recent times a mini pattern had emerged (on the daily chart) of a move up followed by several weeks of consolidation. This can be frustrating, even for longer-term traders. But since the gap up (on earnings and higher volume) on 30th October a...
Entered here Stop below the previous swing low Target at the previous swing high. In hindsight, this formation does appear to look like a head and shoulders. I'm going with the idea that the higher time frame is still in an uptrend as indicated by the trend line.
Bullish Engufling near trend line support. Stop below wicks and trend line. Target set at swing highs.
After the stock split earlier this year AAPL has become a much more affordable stock to trade. It was already in an established uptrend when the split occurred but stuttered around the 2012 high ($100.72). As with many US stocks Apple was being to trend well when the market-wide October pullback slowed the trend. It also happened around the time Apple had begun...
UNP has been a profitable trending stock but, as with many other positions, the October pullback was too deep to justify remaining in the trade. On the weekly chart the trend has remained pretty much intact since January 2012, even with the recent pullback. Price did not breach the 50ma, and only spiked below the 100 figure. But on the daily chart the pullbacks...
When looking at the weekly chart of MMC the uptrend looks very linear. Since trading above the 200ma price only once returned to retest it in October 2011. Since then it has only broken the 50ma twice - more recently with the low of the flag in October 2014. The figure $50 acted as a reasonable support - there was a small fake-out below this and the 200ma on the...
ON chart we can see forming littl SHS formation, alsow we can see at we are on resistance from chanel wich form from about three days ago. If price brekout and only if we get pullback and price hold that level we can click Buy button, if we get another scenery i will be out from this market. But if it work we can see Gbp/usd on + today
The last time I looked at this stock I had a bullish Bat Pattern on my radar, which resulted in a move back up to previous structure before continuing short. That movement down ended up being the 3rd drive in a bullish 3 Drives pattern (in yellow) and what I would expect is a minimal move back up to previous structure (orange arrows). Typically when traders look...