Justification: Breakout resistance with good momentum: Risky: Seems like a small cap with low liquidity
I don't normally trade etf, but sometime exception must be made!
Justification: Breakout of resistance with good momentum. Potential mid term trend reversal VERY WIDE SL. 2 ENTRIES IS A MUST!
Justification: Bounce from support with good momentum.
Justification: Broken out if resistance after a long consolidation. Good momentum.
Trade setup for Del Monte Pac
There are 2 important price level for USDCAD to take note of. 1) 1.33880. This is the Price of Disinterest (POD) or your standard "resistance" level. 2) 1.3247. This is the breaking point of the price previously. Support was broken and retested as resistance (two times!). Currently price is at between 1) and 2). There is no doubt the price is still on the...
Very highly possible trade towards 22300 and 22600. However wait for a retrace back to 22000-21800 for a low risk entry. Stop Loss should be place around 21400. Happy Monday everyone!
I love this drama counter and drama CEO. Price are driven so much by emotions and speculation. Resistance is at 360 but due to its emotion fueled volatility, SL should be above the last swing high (391). Due to the wide SL, trade with lesser lot size. The volatility should bring you enough profits despite smaller than usual lot sizing. Do remember to visit my...
Price is revisiting previous swing high levels. Although resistance is around 26400, price can definitely continue to increase further before coming down. Thus it is only logical to place your Stop Loss above the previous Swing Highs. The Stop Loss level of 26800 is part of my strategy. If you are following this trade, do not adjust the stop loss. Rather, adjust...
Yen is showing it's strength in majority of the pairs (except USDJPY). Short trade set up for EURJPY is possible but it might be better to wait for a retrace towards 129.5-130.0. If you are following this Trade, do not adjust the SL. SL is part of the strategy. Happy Monday and have a good trading week everyone. Please remember to visit my patreon =)
There are 2 trade set up you can take here base on 2 support level Trade set up 1 ( Blue line) Assume support level is at 0.717-0.720. Take the Long trade. Pros : You can enter now Cons : Price might go back down to the 2nd support level (0.707-0.710). Wider Stop Loss Trade set up 2 (Purple Line) Assume support level is at 0.707-0.710. Wait for price to...
Support is found 0.720 which is pretty close to previous swing low level as well. However going long now is a counter trend trade. We also have not seen a higher low to signify a trend change. BUT.... This support level have been defended twice in the past, thus we can take a "calculated gamble" long trade by placing stop loss below those previous level. As this...
I am still on the long side for XAUUSD. Price is now consolidating within the teal color zone (1222.5 - 1231.5) . This consolidation should take a while. It will always be better to take the trade on the lower end of the of the consolidation (around 1225). Your stoploss should be below the extreme end of the lower side denote by the dotted line so as not to get...
Despite better than expectation NFP results, USDCAD have downside potential in terms of technicals. Current resistance is at 1.3145. It will be better for price to go to 1.3145 and look for any form of bearish candle (engulfing/pinbar) to place the trade. Have a good weekend all. Remember to visit my patreon =)
Trend is definitely up. You can clearly see the POI is in an upward trend. This is an indication that demand is present and price will continues to trend up. As a long trade set up, you can wait for price to retrace back towards the POI and set your stop loss at the POD. If you wish to know indepth explanation on POI and POD, visit my patreon. Have a nice week!
AUDUSD is reaching the extreme side of POD, soon it will be retracing towards back to the POI. However, wait for the downtrend to break and a higher low to form first before making the trade. Please visit my patreon for more trading contents =)
Currently A new POI is forming from 1222 - 1228. This zone will act as a consolidation point for further side. If you wish to know more about what is POI. Visit my Patreon page =) Have a good day!