Taking a look at the daily chart, price action is testing a critical support area while RSI is indicating a bottom with the bullish divergence.
Entry: with price above 36.50 Volume: with volume greater than average. Normally I would say greater than the volume from the previous high, in this case 6.032M, but given that volume is from earnings, that is unlikely. The more volume the better. Target: 39.19 area. This is an area, you might consider existing early if price drops below a significant...
Entry: with price above 505.48 Volume: with volume greater than 41.61M Target: 590.09 area. this is an area, you might consider existing early if price drops below a significant moving average such as the 20 or 50 EMA. YoU might also considering holding some portion of the trade longer as price closes above significant moving averages. Stop: Depending on...
NIK225 - 24h expiry Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. A Doji style candle has been posted from the base. Price action looks to be forming a bottom. The primary trend remains bullish. We look to buy dips. We look to Buy at 35980 (stop at 35760) Our profit targets will be 36530 and 36630...
NZDUSD - 24h expiry There is no clear indication that the downward move is coming to an end. Although we remain bearish overall, a correction is possible without impacting the trend lower. Risk/Reward would be poor to call a sell from current levels. A move through 0.6075 will confirm the bearish momentum. The measured move target is 0.6025. We look to Sell...
GBPUSD - 24h expiry The primary trend remains bullish. The selloff has posted a correction count on the daily chart. A move lower faces tough support and we remain cautious on downside potential. Risk/Reward would be poor to call a buy from current levels. The preferred trade is to buy on dips. We look to Buy at 1.2725 (stop at 1.2693) Our profit targets...
NZDUSD - 24h expiry Mixed but negative price action has resulted in consecutive, narrow-ranged, sideways trading days. Further downside is expected. Risk/Reward would be poor to call a sell from current levels. A move through 0.6100 will confirm the bearish momentum. The measured move target is 0.6050. We look to Sell at 0.6125 (stop at 0.6149) Our profit...
Gold - 24h expiry A Doji style candle has been posted from the high. Price action looks to be forming a top. The 200 day moving average should provide resistance at 2034.94. This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower. We look for a temporary move higher. Preferred trade is to...
Hello Traders, here is the full analysis. Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity USDJPY I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the...
So I actually expect to see CAD strength following the Bank of Canada Interest Rate Decision on Wednesday, however it would be nice to see some weakness heading into the week. For that reason, I'm not looking to go short just yet, but on my chart I have a small up arrow then down arrow. That's what I'm hoping will happen. If not and I miss the trade... oh...
I don't usually trade any central bank meeting but my technicals in this case are really suggesting some further downside pressure with this pair. Technical Indications Include: Evening Star Formation with the last 4 candles on daily RSI Below 50 Fundamentals Include: Inflation cooling off Oil showing signs of a bottom Equity market may spark...
First thing I notice when looking at the daily chart, is the divergence with RSI and price action. Then I can also see we had a breakout below the ascending support. Now when I take a look at the weekly chart, this is what I see. The weekly timeframe definitely shows that the bullish momentum has stalled out. Indications of that include; RSI held below 70...
With everything going on, I'm looking to enter at 0.6585 with a stop loss just below the last 4hr candle's low. I do have a target set at 0.6678 giving this trade idea a 5:1 risk-2-reward. Reasons why I like this trade include: 1. Economic Calendar forecasts this week are for negative US data 2. Technically on the 4hr, RSI closed above 50 following a...
USDCHF - 24h expiry Levels close to the 38.2% pullback level of 0.8682 found sellers. Rallies should be capped by yesterday's high. Daily signals are mildly bearish. Short term MACD is moving lower. A higher correction is expected. We look to Sell at 0.8685 (stop at 0.8715) Our profit targets will be 0.8610 and 0.8580 Resistance: 0.8650 / 0.8685 /...
Gold - 24h expiry Selling pressure dominated price action yesterday and we expect this to continue today. We are trading at oversold extremes. A higher correction is expected. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. Further downside is expected although we prefer to sell into rallies close to the...
US2000 - 24h expiry Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. We are trading at oversold extremes. This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher. Previous support located at 1924. Preferred trade is to buy on dips. We...
Clear topping action is beginning to develop with RSI confirming as bearish momentum is strengthening. With that said, I'm expecting a stock market correction after such a solid year of performance. Unless US30 makes additional fresh highs, I'm shorting as I expect to see profit taking happening in the days ahead. That's it - That's all Trade Safe
Should price action present itself with a retest of the ascending resistance I'll look for an entry to sell short. Additionally I'm looking for a least a bullish pullback of at least 38.2 to consider my entry. You can note my fib levels on the screen.