Hi All, we have a double top with RSI Divergence chance to get short - we could also see price continue upwards on this pair towards the Mad Monday Spike giving us an opportunity for a shorting position at AB=CD completion which puts us right inline with Previous Structure - however I have a feeling this might break that level exposing us to the next high which is...
Idea is based upon elliott wave theory and a personal strategy utilizing stochastics for wave confirmation. More info on the chart. Good luck.
It looks as if bulls have exhausted their run. Price was rejected at the descending daily resistance (pink) and was followed by a retest of our ascending resistance zone, printing a bearish shooting star. A divergence in the RSI can also be observed below this price channel. It is important to note that each top was followed by a 61.8 or 76.4 retracement to the...
This is the initial set up with the levels. I'm taking a short with a small (feeler) position as of now at 1.2675 and would go in hard on a retest to 1.2675 for resistance. 1.24 is the medium-long term goal. Booking profits at round numbers between 1.2675 and 1.24 would be good for the soul ;)
First entry at 186.5 and second entry at 185.75. Stops at or below 185 (based on your spread). Expire second entry if target reached.
Price broke out from the falling wedge pattern on divergence (on lower TF chart). Yesterday's candlestick formed a doji and we can expect a dip to 0.7705, a preferred level to take long positions First target comes in at 0.807 Leave the second target to 0.89 (Long term, at least 2 months) and move to 0.78 when first target is reached. Advantages: Initial risk...
From the previous analysis, the wedge pattern has become completely invalidate. Replacing the wedge with the price channel gives a better perspective now. 1. Price is currently above the support/resistance level at 11250 as the leg up came on a modest higher low in RSi divergence. 2. While it is tempting to go long targeting 11650, waiting for another dip (for...
To follow up on last week's EURUSD idea, the pair has finally reached higher level of structure that I liked during yesterday's Euro rally. We've now double topped at that level and have broken structure to the downside setting up for a potential 2618 opportunity for those traders looking for a conservative approach to get involved. We do have A LOT of news on...
Last week the Greenback opened bullish on the back of the prior Fridays better-than-expected core cpi readings and strengthened throughout the week. On Tuesday it made strong gains as core durable goods, consumer confidence and new home sales all beat expectations. These positive readings reinforced dollar strength. Wednesday´s BoC rate decision and statement...
Last week the dollar finally traded in line with fundamentals again, with the Dollar Index gaining four out of five days. There had been a strong bearish sentiment surrounding the dollar for the last couple of weeks, helped by key data points coming out unfavourably and when a currency is fundamentally bullish, but sentiment-wise bearish, the result is choppy...
(Disclaimer: I have posted several short ideas on ES/SPY/SPX since the start of the year - I have played some of them for quick profits, also have gotten burned a couple times; it's safe to conclude that so far, the bullish trend hasn't been broken, but hasn't accelerated either. And even if the S&P 500 just made a new closing high today, it's still stuck in the...
The pair has a falling wedge pattern nearing completion. Personally, i dont trade falling wedge patterns, so im waiting for the rally back up into previous support.
(THIS IS THE RIGHT ONE - THE OTHER ONE DOESN'T HAVE OBV OR SPY TARGETS. SORRY!) Sticking with the bearish case for US Equities I've made for most of 2015, I'm currently selling short a pretty significant position in SPY versus a long basket of Equities and bonds from the rest of the world. My rationale: 1. US Equities are still rich versus rest-of-world stocks...
Something to watch for: #USDJPY doubletop,bearish diverge - W,Cyphers for long/short - D @TradeYodha (TradeYodha.com) 1. USDJPY is showing a double top bearish divergence on weekly 2. Daily showing signs of head and shoulders 3. There can be a bullish cypher too on daily 4. there is a bearish cypher on H4/Daily right there in the zone at the top where we...
@TradeYodha (TradeYodha.com) #USDCAD Double Top Short Idea 1. Double Top On Weekly and 4H 2. Price has been overbought 3. 10SMA and 50SMA on Weekly and 4H are lagging. That should attract the price downwards 4. DXY (Dollar Index) is also due a retracement. See related idea. That should being USD to this zone for a Long Entry I would love to hear your...
#USDJPY Daily Butterfly Pattern Short Idea 1. RSI divergence showing up on 4H indicating slowing momentum but is not double top 2. round number 122.00 confluences with fib extensions 3. Price is not oversold yet. There is still room for upward movement before it hits the zone 4. 50SMA can give us our first target Hope this give you some useful ideas, don't...
@TradeYodha TradeYodha.com AUDUSD Short Opportunity 1. 38.2 retracement level confluences with retest structure 2. FIB extension 161.8 3. 50 SMA in the region 4. RSI divergence showing a possible upside There is a descending triangle formation which is usually bearish. So I have low level confidence in this trade. Hope this give you some useful ideas, don't...