SELL – BP (BP.)
BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company's segments include Upstream, Downstream, Rosneft, and Other businesses and corporate.
BP’s second quarter earnings came in flat as increased production offset lower oil prices....
FTSE100 is making some nice consolidation on the 1hr timeframe and is now breaking the lower TL.
I will wait for a clean break and then short on the retest and lower high. Targeting new lower lows at 7000
SELL – ANGLO AMERICAN (AAL)
Anglo American PLC is a mining company. The Company has a portfolio of mining operations and undeveloped resources with a focus on diamonds, copper, platinum group metals, and bulk commodities.
Anglo American recently delivered an impressive set of half-year results, yet the share price has fallen significantly in recent...
A slight pull back to 108.6 area will give a potential:
rejection of previous lower time frame descending trend
rejection of higher timeframe support/resistance.
Good R/R comes from targeting previous strong higher timeframe support/resistance
Simple TL break and retest trade. I have applied the fib retracement levels and the retest aligned perfectly with the 0.786 retracement level. This is then a lower high on the 4hr chart.
I am targeting a new lower low on the 4hr.
Classic, simple trendline break trade.
It is good to wait for a lower low to be made for the trend reversal to be confirmed. Then I like to enter on the next lower high for a better R:R entry.
Use the 1hr 50ema and daily pivot as dynamic resistance once both are broken and the retested from below.
EURUSD appears some more downside is inbound. Price is struggling to break higher and daily timeframe shows some nice resistance forming at this level.
1hr bullish TL is now broken and price is below daily pivot. I am looking to short down to the 1.1200 level where the 4hr/daily TL is for a retest.
Long term I am bullish but a pullback south is due first
Simple trend reversal trade on NZDJPY. Bearish momentum seems to be gone and price has broken up and made new highs now with price breaking the bearish TL.
I am entering long on the 0.618 fib retracement with a target of a new higher high around 72.800 and maybe higher.
NZDUSD has finally broken the long bearish 4hr trendline and made higher highs. Price has also clearly broken and closed above the 4hr 50ema which was providing a dynamic resistance to price over the past few weeks.
I am looking to go long on the next pullback to retest the broken TL or 4hr 50ema.
I have the fibonacci retracement tool on the chart to provide a...
Here is my simple trendline break, long trade set up on GBPUSD
The recent 4hr/daily bearish trendline has now clearly been broken and price has tried to form a new high on the 4hr timeframe. Price also broke back above the 1.30 key support/resistance zone.
I am looking to go long on a pullback and bounce off the broken TL and Fib 0.5/0.618 retracement levels....
NZDJPY Short set up after last weeks lovely bearish action.
4hr bullish trendline broken.
4hr lower low made last week.
I am shorting on the retest of broken trendline, multiple rejections of the Fib 0.618 level and lower high forming.
SL comfortably above 0.786 Fib
NZDJPY has shown signs of a reversal at this level for a while now. The daily resistance zone @ 76.500 is holding strong and we finally have a break of the 1hr bullish trendline with a lower low being made.
Price has now pulled back a little and is rejecting the 1hr 50ema from below. Price is also below the daily pivot level so that is a another potential...
On the higher timeframes such as the daily chart we can see that NZDJPY seems to be consolidating between 75.00 and 76.50.
We can see that on Friday price closed giving us a decent low test candle on the daily bouncing off our support level (75.00) forming a beautiful double bottom pattern. Ideally we would of wanted the body of the candle to be smaller or a...