GBP/USD, GBP/EUR, GBP/JPY, EUR/USD, USD/CNY, DXY
LLOYDS BANKING GROUP PLC ORD 10P, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), POWERHOUSE ENERGY GROUP PLC ORD 0.5P, UK OIL & GAS PLC ORD 0.01P, VODAFONE GROUP PLC ORD USD0.20 20/21, UNION JACK OIL PLC ORD 0.025P
FTSE 100, DAX Index, Euro Stoxx 50, S&P 500, Nasdaq Composite, Nikkei 225
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
As the market has pushed down and broken the most previous support level I'm predicting trend continuation from this pair.
So how I plan to enter this trade is hopefully the market will retrace a little bit higher towards the broken support level that will now become resistance. Ill place a sell pending order at the 0.236 fib level with stops at the 0.5 fib ...
Order set to go long at 1.23782
Stop Loss @ 1.23471
Profit @ 1.24370
Trailing Stops should you do it Yes or No?
My answer is yes and no, because everything you do in trading should be tested!! Before you trade a dime. You should have a good idea how your trading plan and strategy is going to perform and what the humps in the road look like so you don't bail on your plan when its going through a rough patch.
Now I TRAIL my stops, ...
Order set at 2.0369
Stop loss @ 2.0091
Profit @ 2.0868
Order set at 111.951
Stop loss @ 111.530
Profit @ 112.980
Order set at 106.945
stop loss @ 106.578
Profit @ 107.802 and 108.537
EURUSD is approaching an area where we could see some weakness in the market.
4hr timeframe Ive marked out an area where the market has touched the daily resistance level and been rejected.
Now the market will either break through or reverse. We also have divergence on the RSI tilting my bias to the short side a little bit more.
But EMA's are under the price ...
Order set at 0.059157
Stop loss @ 0.053855
Profit @ 0.065480
Order set at 1.5590
Stop loss: 1.5665
Profit : 1.5390
Be patience and be mindful that market is nearing the 100 and 200 EMA's so we might get a bounce and continue bullish.
Order set at: 1.68128
Stop loss @ 1.68750
Profit @ 1.66520
This trade looks 50/50 to me right now.
Broken resistance level
structure levels for profit targets
Bullish RSI divergence
Under the EMA's meaning the underlying market is bearish
The candle stick formation looks weak
I'm going to sit on my hands and wait for a stronger signal to buy or sell.
Market has fallen through support level and has also fallen under the 100 EMA.
Price action has fallen lower than previous swing low.
Also there is RSI divergence meaning RSI and Price action don't match up.
So if market holds and closes below support level i'll be setting up to go short.
Good Luck Trading
I've found for me that on the daily time frame the RSI on a 7 period, close works best.
I've made it a part of my trading strategy to check for RSI Divergence either bullish or bearish before placing a trade.
What is RSI Divergence?
Now RSI divergence is when the RSI doesn't correlate with the price chart, meaning that price action and RSI are not in sync.
Market has broken out and retested structure level so i predict that the market will follow the trend.
Keeping trading simple!!
BCHUSD has broken structure level.
Entering market next bar by market to the short side.
Keeping trading simple.
XRPUSD joins Bitcoin and falls through daily support level.
If the market stays below this level broken support level I will enter the trade on the open of the next candle.
I'm aiming to hit target, but will lower the stop loss accordingly as the market falls to minimize risk.
This is one of my trades I previously took using the analysis I use for most my trades.
Use a trading style that best fits you, I use the a simple breakout method because that's what works best for me.
Knowing how to read a price chart is key and once you can do that, you'll be free to pick whatever strategy you like.
Keep your trades simple.