Looking at the indices, the GBP has shown a lot of weakness recently. JPY has also been weak, but is showing signs that it may reverse soon. The pair itself has formed a perfect bear channel, with nice bearish price action, setting up for a nice possible drop. We can place our stop right above the weekly supply zone and target lower resistance.
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As we have gone to all time highs with bitcoin, we now have a nice short opportunity on the smaller time frame. We can see that a head and shoulders top has already formed as well as a retest of the trendline. Another drop is highly likely, but we will have to wait and see if we get an additional pullback or if it goes straight for the breakout. Both can be played...
Here we can see that the previous uptrend is in the process of reversing. Price ran up to a key level and then began to lose momentum and consolidate in a distribution, eventually forming a head and shoulders and breaking out to the downside. This presents a very good opportunity to sell again. Wait for price to pull back to the previous support level turned...
I spotted a beautiful setup on this one. We are just coming off of a nice long up trend. The market structure has shifted nicely into a down trend after breaking out from distribution previously. Price plunged to the down side on the breakout and has created a very nice up bear flag as it pulled back up to retest the bottom of the range. That along with confluence...
Price has been in a long downtrend and finally hit a key weekly level. Price began to range and form a head and shoulders reversal pattern. Heat map indicates that we are looking for buys along with the recent strength of the USD. The Danish Krone is also pretty weak compared to the recently bullish dollar and is starting to sell off around its key level. The MACD...
We can see that bitcoin has been moving in a downtrend. Price has comeback to test the trendline and top of the flag, offering a very good short entry opportunity on the H4 chart. We should be conservative with our target since There is a lot of support near the 8600 area.
We can see that price is in an uptrend on the daily chart. It has recently broken through a key daily level at 1.7628. Looking for price to find support within the bull flag around 1.7212. I would look for a buy around this area with and secure profits near previous support. I expect previous support to act as resistance and price to move back down to the daily...
Analyzing BTC on a long term basis shows that price failed to keep the recent break above $10k. We can see that there is a tremendous amount of sellers at that level still. The key will be to see if we can get a strong push past once more as it remains a key resistance level. Alternatively, look for short opportunities if price fails to break and sellers take...
We have a potential trading range opportunity setting up. Price appears to be moving down towards the support area. It's still early so anything can happen. We will have to watch this stock and see if price goes where we want it to. If it does, we should look for bullish evidence around the support area. You can use a variety of methods to determine that including...
Here's one of the recent pairs on my watch list for this week. We can see that price has formed a confirmed range and is moving down towards resistance. For me a confirmed range means a minimum of 2 price rejections at a price level. It may or may not reach support this week. It all depends on the price momentum.
In general, when trading ranges it is important to...
This is a high risk high reward setup. Resistance has been tested so many times that there is a high chance it could breakout. That's the risk. The reward is a very wide range if it bounces and a very tough level to break through if it shows a strong bear pattern. With such a wide range, it's a good idea to trail the stop down to the target level as this trade...
Here's a stock trade idea. We have a perfect range here and we are looking for a bounce off the support level. It will still take a few days to a week to play out so let's wait it out and see.
We can see that this price was in a downtrend and broke out into an uptrend. We can see further evidence of this by the rounding bottom pattern that results in another breakout through resistance. As resistance turns to support we can see profit being taken be the early bulls, which should result in a buying opportunity around that prior resistance level. We will...
Here's a low risk high reward trade for lite coin. We can see that a rounding bottom pattern has formed marking the end of the downtrend. Price just broke out of resistance and the bulls that bought at the bottom of the trend are starting to take some profit. We can expect a retracement back down to the new support level. From there we want a bullish candle to...
Price is moving up to test resistance again. Price is looking bullish right now so we are going to try to play for a breakout move. Price was previously rejected at this resistance level but failed to trade back down to the support region of the range. This gives some evidence that there is a lot of bullish action around this area. If price manages to make a...
This is my first stock trade idea. I will try to post at least one stock idea per week and at least one FX idea per week. I will briefly share my philosophy on stocks. We want to follow the what the general market is doing. I look to the S&P 500 as my general guide. Right now are in an uptrend, so we want all our stock trades to the long side. Next, we want to...
